3 Media Stocks in Focus: Time Warner Cable Still in Hulu Talks, IMAX Expands in Asia, and News Corp.’s Murdoch Scandal
Time Warner Cable (NYSE:TWC): Bloomberg ran a report over the weekend revealing that Time Warner Cable was trying to acquire a holding in Hulu LLC even after an auction for the service was shut down. A deal could potentially be reached within two weeks, despite the statements made last week by Hulu’s current owners that signaled they would “maintain their respective ownership positions.”
IMAX Corp. (NASDAQ:IMAX): IMAX has furthered its expansion in Asia, with plans for 35 new theater openings across China and South Korea in a partnership with South Korea’s CJ GGV Holdings. The deal includes 30 theaters to be installed in new construction projects across China as well as five previously optional theaters in South Korea, now confirmed, which are subject to final documentation, Deadline reports.
News Corp. (NASDAQ:NWSA): Chairman Rupert Murdoch may face criminal charges in the United States stemming from a recording that was discovered in which Murdoch indicated that payments to public officials for information was part of the culture of U.K. journalism, according to New York lawyer Bradley Simon. The tape indicates that Murdoch implied he may have known about bribery at News Corp.’s U.K. operations. Additionally, the recording may undermine his testimony to regulators — lying to law enforcers a crime under Title 18, Section 1001.