Netflix to Offer Senior Notes and 4 Media Titans Making Waves
Netflix, Inc. (NASDAQ:NFLX): Current Price: $166.91
Earlier today, the company announced that it plans to offer, subject to market and other considerations, $400 million worth of aggregate principal amount of senior notes, which will be due in 2021. According to Netflix, it would use about $225 million of the net proceeds from this offering as a means to redeem its outstanding 8.50 percent senior notes due 2017. The remainder of the proceeds will go towards general corporate purposes, including capital expenditures, investments, working capital and potential acquisitions and strategic transactions.
Coinstar, Inc. (NASDAQ:CSTR): Current Price: $52.24
In trading on Monday, Coinstar, Inc. shares passed its 200 day moving average of $54.01, and it changed its hands as high as $54.11 per share.
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Time Warner Cable Inc. (NYSE:TWC): Current Price: $100.48
There is talk that Time Warner Cable’s subscribers may have to help pay for the $2 billion purchase of the Los Angeles Dodgers by Mark Walter Magic Johnson and Stan Kasten. The L.A. Times is reporting that “Time Warner Cable subscribers are being notified in their latest bill that the monthly cost of basic cable service will jump 8.2 percent, or almost four times the annual rate of inflation as of October 2012 — to $72.50 from $67.”
News Corp. (NASDAQ:NWSA): Current Price: $27.66
Federal law-enforcement authorities have led a wide-ranging investigation into whether or not media companies facilitated insider trading on Wall Street by prior to releasing market-moving government data, according to sources. The media companies who were investigated were Bloomberg LP, Thomson Reuters (NYSE:TRI), and the Dow Jones & Co. unit of News Corp. (NASDAQ:NWSA), according to the Wall Street Journal.
Viacom, Inc. (NYSE:VIA): Current Price: $61.63
Because of ratings drops, there has been a decrease in Viacom executive salaries by up to 22 percent and smaller bonues were paid out in 2012 to some of the executives that are usually at the top of the pay scale, the Los Angeles Times reports.
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