|June 11, 2014|
|07:01 EDT||CBS, CBSO||CBS launches the split-off of CBS Outdoor Americas |
CBS (CBS) announced plans to fully divest its 81% ownership in CBS Outdoor Americas (CBSO) through an exchange offer that is expected to be tax-free for participating shareholders in the U.S. The exchange offer is anticipated to be the final step in the separation of CBS Outdoor following its initial public offering in April. Upon the split-off, CBS Outdoor intends to convert into a real estate investment trust.
News For CBS;CBSO From The Last 14 Days
|October 30, 2014|
|09:00 EDT||CBS||Time Warner Cable not concerned about other companies eating into business |
In light of announcements from HBO (TWX) and CBS (CBS) for stand-alone streaming services, the company said it is more intrigued and more than prepared to work with video programmers to provide better video propositions.
|October 29, 2014|
|18:14 EDT||CBSO||CBS Outdoor declares special dividend of $4.56 per share|
The company announced that its board of directors has approved a special dividend on the company's common stock of approximately $547.7M, or $4.56 per share based on the number of shares currently outstanding, in connection with the company's previously announced conversion to a real estate investment trust. The special dividend is payable on December 31 to stockholders of record on November 20. The special dividend is in the amount of the company's accumulated earnings and profits as of July 17, the date the company began operating in a manner that will allow it to qualify as a REIT for U.S. federal income tax purposes. Approximately 20%, or $109.5M, of the special dividend will be paid in cash, and approximately 80%, or $438.2M, of the special dividend will be paid in shares of the company's common stock.
|13:50 EDT||CBS||FCC chairman wants to give Internet video providers access to more content|
FCC. Chairman Tom Wheeler yesterday proposed allowing Internet video providers to show some content previously available only on cable and broadcast TV. Internet video providers could offer "many different kinds of multichannel video packages designed for different tastes and preferences." Wheeler added. Netflix (NFLX) provides Internet video content, while Comcast (CMCSA) and Cablevision (CVC) provide cable TV services. Broadcast TV providers include CBS (CBS), Twenty-First Century Fox (FOXA), and Disney (DIS). Reference Link
|07:53 EDT||CBS||CBS added to Franchise Pick List at Jefferies|
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|October 20, 2014|
|15:40 EDT||CBS||Amazon in new contract with Simon & Schuster, WSJ reports|
Amazon.com (AMZN) and CBS’s (CBS) Simon & Schuster unit have reached a new multi-year print and digital contract that replaces an existing one set to expire in two months, according to The Wall Street Journal, citing people familiar with the situation. Details of the new contract couldn’t be immediately learned, but the report notes that a person close to the talks said that the new deal “is good for both companies” and that Simon & Schuster is “very happy” with the pact. Reference Link
|12:34 EDT||CBSO||CBS Outdoor upgraded to Outperform at Barrington|
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|12:17 EDT||CBSO||CBS Outdoor upgraded to Outperform from Market Perform at Barrington|
|11:02 EDT||CBSO||CBS Outdoor to rebrand as Outfront Media|
CBS Outdoor Americas has announced it will rebrand as Outfront Media Inc., marking another important step in the company's transformation. The Outfront identity represents a new era for the Company and for its position within the growing out-of-home advertising sector. The brand also symbolizes the company's unique portfolio of billboards and displays in the most desired locations, including landmark positions in high-traffic areas, retail districts, transit hubs and iconic destinations. Today's introduction of Outfront Media kicks off a process that will include rebranding more than 100,000 displays. On November 20, the company will be reintroduced online and on the New York Stock Exchange under the ticker symbol "OUT". In addition to a new brand, the company is introducing new products and services aimed at enhancing its customers' advertising campaigns.
|October 19, 2014|
|11:58 EDT||CBS||CBS could see 25% gain, Barron's says|
CBS shares could be worth around $66.00 at a peer-like-multiple, a gain of 25%, driven by fees from affiliates and Showtime, Barron's contends in a feature article. Reference Link