News Corp Inks Agreement With Sky Deutschland and 4 Media Titans Making Waves
AOL, Inc. (NYSE:AOL): Current price $29.72
Last week, AOL, Inc.’s Chief Executive Officer, Tim Armstrong, admitted that about 11% of their Patch hyper-local news sites were profitable (100 out of 900). The online media company wants to put the overall network in the black by the end of the year, though the odds of that happening are small. For Armstrong to meet his goal, AOL will have to shut down some Patch sites and merge others where readership overlaps.
Netflix, Inc. (NASDAQ:NFLX): Current price $103.54
Turner Broadcasting System and The Warner Bros. Television Group announced licensing agreements with Netflix, Inc., bringing to the United States Netflix members complete previous seasons of animated and live-action programming from Cartoon Network, Warner Bros. Animation and Adult Swim, as well as the TNT serialized drama Dallas.
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Time Warner Cable Inc. (NYSE:TWC): Current price $98.52
Time Warner Cable Inc. announced that Alan Lui, previously the operator’s group Vice President of Video Strategy, was named Senior Vice President of HR Centers of Expertise. Lui assumes overall responsibility for HR operations and benefits, talent acquisition and movement, learning and development, diversity and inclusion teams for the company. He reports to Peter Stern, Time Warner Cable’s Executive Vice President and Chief Strategy, People and Corporate Development Officer.
DIRECTV, Inc. (NASDAQ:DTV): Current price $53.17
According to Chief Executive Officer Mike White, DirecTV, Inc. has gained 100,000 net subscriber additions during the fourth quarter. White said that DirecTV’s subscriber growth was “significantly above where we thought we would be.” He noted the company expected they would lose more subscribers after Chinese language programming supplier Jadeworld moved their networks from DirecTV to rival Dish Network this past November.
News Corporation (NASDAQ:NWSA): Current price $26.8501
News Corporation announced they have reached an agreement with Sky Deutschland AG and their new bank syndicate to support both a new financing structure and the issuance of EUR 438M of new equity. The new bank financing, which will be guaranteed by News Corporation, will replace Sky Deutschland’s current bank debt facilities. Additionally, News Corporation will guarantee certain rights payments associated with Sky Deutschland’s Bundesliga broadcasting license and support the raising of additional funds of EUR 438M, which includes the outstanding EUR 144M of equity under the capital measures announced by Sky Deutschland on February 2, 2012, to support Sky Deutschland on the continuing execution of their strategy.
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