4 Media Titans Making Waves
Time Warner Cable Inc. (NYSE:TWC) CEO Britt, at the Sanford C. Bernstein & Co. Strategic Decisions Conference, commented that his company has at times focused “too much” on profitability and that he would solicit others’ experimentations with video stream. Shares of Time Warner traded down $0.43 (0.57%) lately at $75.40.
Don’t Miss: An iPhone Made in the USA? That’s Just Idealism.
Walt Disney Co. (NYSE:DIS): The $350M Art of Animation Resort is Disney’s newest theme park hotel, opening today and featuring wings themed for such Disney hits as The Little Mermaid, Finding Nemo, Cars, and The Lion King (theme rooms available for a premium).
News Corp. (NASDAQ:NWSA): Two sources are reporting to Bloomberg that Time Warner and Abraaj Capital submitted binding bids for Turkey’s ATV television channel. Goldberg (advising on the matter) will evaluate the bids in the next month, and the sources add that News Corp’s bid was dismissed as uncompetitive. Shares of the company traded down $0.03 (0.15%) recently at $19.37.
SIRIUS XM Radio Inc. (NASDAQ:SIRI): It was revealed on May 30 by Liberty Media (LMCA), owner of 46.2% of Sirius XM’s outstanding sales, that the company has filed a Petition for Reconsideration of the Dismissal with the FCC. In that Petition, Liberty wrote that it plans to maintain control over Sirius XM after getting FCC approval. Plus, Liberty details how it plans to assert such control, including: converting nearly half of the shares of B-1 Preferred Stock, nominating for election people to serve on Sirius XM’s board, and soliciting proxies from other shareholders in favor of electing those nominees. Shares of Sirius traded down $0.01 (0.53%) recently at $1.885.
Don’t Miss: Are Apple’s Mac Users Losing Patience?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.