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Stock Market & Financial Investment News

News Breaks
July 10, 2014
08:56 EDTCBS, CBSOCBS announces preliminary results of CBS Outdoor exchange offer
CBS Corporation (CBS) announced that based on preliminary results, its previously announced offer to its shareholders to exchange their shares of CBS Class B common stock for up to 97M shares of CBS Outdoor Americas (CBSO) common stock that are owned by CBS was oversubscribed. The exchange offer expired at 12:00 midnight, New York City time, on July 9. Under the terms of the exchange offer, 2.1689 shares of CBS Outdoor common stock will be exchanged for each share of CBS Class B common stock accepted in the exchange offer. CBS has accepted 44,723,131 of the tendered shares in exchange for 97M shares of CBS Outdoor common stock owned by CBS. CBS expects to announce the final proration factor promptly following the expiration of the guaranteed delivery period, which is expected to occur on July 14.
News For CBS;CBSO From The Last 14 Days
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August 22, 2014
13:13 EDTCBSOCBS Outdoor downgraded to Market Perform at Barrington
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13:04 EDTCBSOCBS Outdoor downgraded to Market Perform from Outperform at Barrington
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August 21, 2014
06:20 EDTCBSCBS seeking bigger share of pay-television revenue from affiliates, WSJ reports
CBS last week stripped an Indianapolis station of its affiliation due to a fee disagreement as it seeks a bigger share of pay-television revenue, reports the Wall Street Journal. The Indianapolis station's owner LIN Media (LIN) was set to be acquired by Media General (MEG) for $1.6B this year, but Media General cut its acquisition price Wednesday by 7%, or more than $100M, with the move from CBS cited as one of the reasons. According to Gabelli & Co., the lack of a CBS affiliation may cost the statio tens of millions of dollars in annual revenue to decline. Reference Link
August 20, 2014
08:35 EDTCBSOCBS Outdoor meets regulatory approval closing condition for Van acquisition
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07:33 EDTCBSCBS management to meet with Needham
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August 15, 2014
06:03 EDTCBSCBS, Cumulus, MDC oversold after Q2 results, says Piper Jaffray
Piper Jaffray says ad-related stocks CBS (CBS), Cumulus Media (CMLS) and MDC Partners (MDCA) are oversold following the Q2 reporting season. Piper expects the ad market to turn around in Q3 and accelerate in Q4.
August 14, 2014
17:16 EDTCBSPaulson & Co gives quarterly update on stakes
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09:07 EDTCBSMorgan Stanley to hold a conference
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August 13, 2014
14:02 EDTCBSOWinslow Capital reports 5.6% passive stake in CBS Outdoor
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August 11, 2014
10:03 EDTCBSCBS, Tribune renew existing affiliation agreements
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