A few weeks ago DirecTV bosses talked about merging with rival pay-TV operator Dish Network. Now Dish Network chairman Charlie Ergen has said that the two companies should consider coming together in order to address a slowing pay-TV market. Ergen told analysts during his post-results conference call that both companies “have to consider” a merger […]
Following the move by Carl Icahn to acquire 10 per cent of its stock, Netflix has announced that its Board of Directors adopted a stockholder rights plan (the “Rights Plan” or “Plan”) and declared a dividend distribution of one right (“Right”) for each outstanding share of Netflix common stock. The Rights Plan is intended to […]
Canada-based space technology company MDA has wrapped its purchase of satellite builder Space Systems/Loral (SS/L). The deal, announced back in June, sees MDA pay $1.1 billion to SS/L’s owners Loral Space & Communications. The structure of the deal see MDA pay over $968 million in cash, and another $101 million to cover property assets. The […]
The initial round of bids in the sale of Telecom Italia Media’s TV assets (La7, MTV Italia and digital multiplexes) closed on November 1st. According to Italian daily Milano Finanza, private equity fund Clessidra, which is accompanied by advisor Bain&Co, submitted the highest bid amounting to €330 million for the whole package. Mobile telephony operator […]
Netflix’s stock surged yesterday as ‘active investor’ Carl Icahn revealed that his funds have acquired a 10 per cent stake in the business. Netflix shares actually tripped two circuit breakers in their rapid rise, triggering a temporary suspension of the stock. When shares resumed trading, they finished the day up around 14 per cent. Icahn […]
Remember Corporate Raiders? The very name sounds so 90s, doesn’t it? These swashbucklers of the corporate stock markets believed in a kind of financial engineering that, by the lights of the more modern and esoteric techniques of debt packaging and trading, seem both simple and benign. It didn’t always seem that way back then. The […]
UK electrical retailer Comet is to go into receivership next week jeopardising 6,500 jobs. Private equity firm OpCapita, which owns the 240-store business, has lined up restructuring specialist Deloitte to act as administrator. OpCapita bought Comet last year for just £2, plus a £50 million dowry from its French owners Kesa Electricals. Two weeks ago, […]
News Corp is set to increase its presence in Australia’s subscription-TV market after Consolidated Media Holdings shareholders approved its 1.94 billion Australian dollar ($2.01 billion) bid for the company. The deal will see News Corp double its stake in Australian subscription-TV provider Foxtel to 50 per cent, and gain full ownership of sports-channel Fox Sports. […]
The Walt Disney Company has acquired Lucasfilm from its founder, George Lucas, for $4.05 billion (€3.12bn) in stock and cash. Robert A. Iger, Disney’s chief executive, said Disney planned to revive the Star Wars movie franchise and release a seventh feature film in the series in 2015, with new films coming every two or three […]
Separate statements issued by Liberty Global and Telenet in respect of the former’s planned acquisition of the Belgian cable company have highlighted a major disagreement over Telenet’s worth. Liberty Global already owns 50.4 per cent of Telenet, and September 20 made an informal bid of €35 a share for the Telenet shares it doesn’t already […]