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Stock Market & Financial Investment News

News Breaks
July 16, 2014
16:34 EDTCBSO, CBSCBS Outdoor completes separation from CBS and REIT conversion
CBS Outdoor Americas (CBSO) announced its full separation from CBS (CBS) through the completion of an exchange offer by CBS Corporation of its 81% ownership of the company’s common stock, and following an initial public offering of 19% of the company’s common stock on March 28. As a result, the company is no longer a subsidiary of CBS Corporation. On July 17, the company will begin operating as a real estate investment trust and intends to elect and qualify to be taxed as a REIT for the remainder of the fiscal year ending December 31, and for subsequent tax years. The Internal Revenue Service issued a private letter ruling on April 16, 2014 with respect to certain issues relevant to the company’s qualification to be taxed as a REIT. “Achieving our independence and beginning to operate as a REIT are two important steps in our strategic transformation with significant benefits for shareholders,” said Jeremy Male, CEO. “CBS was very supportive as a parent and we thank them for the opportunity to be steering the company independently. Later this year, our rebranding will reposition the company during this exciting time in the out-of-home industry as it continues to evolve and adopt new technologies that add value and relevancy to our media.”
News For CBSO;CBS From The Last 14 Days
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March 26, 2015
07:24 EDTCBSWells Fargo to hold a forum
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March 23, 2015
17:12 EDTCBSCBS extends employment agreement with president of CBS News David Rhodes
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March 20, 2015
08:13 EDTCBSCanada to 'unbundle' cable TV offerings by December 2016
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06:36 EDTCBSWeb TV companies ask internet providers for special treatment, WSJ says
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06:17 EDTCBSCBS price target raised to $72 from $60 at Citigroup
Citigroup raised its price target for CBS to $72 and calls the company the stock to own in the space amid changing industry dynamics. Citi sees upside to consensus estimates for 2016 and beyond from CBS's All Access subscriber expansion and Showtime over-the-top offering. It maintains a Buy rating on the name.
March 19, 2015
07:23 EDTCBSEvercore ISI to hold a tour
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March 18, 2015
12:09 EDTCBSSony announces launch of PlayStation Vue in New York, Chicago, Philadelphia
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09:23 EDTCBSVerizon may launch mobile TV service as soon as June, Bloomberg says
Verizon (VZ) has secured mobile television streaming rights with Viacom (VIA, VIAB) and DreamWorks Animation (DWA) and plans to start a mobile video streaming service as early as June, according to Bloomberg, citing a person familiar with the matter. Verizon plans to have programming from ABC (DIS), NBC (CMCSA), CBS (CBS) and Fox (FOXA) as part of the service, the report added. The Fly notes that Verizon has publicly confirmed previously that it plans to launch such a service, but has not provided many details to date.
March 17, 2015
17:19 EDTCBSTime Warner, CBS CEOs discussed possible merger last year, Bloomberg reports
CBS (CBS) CEO Les Moonves and Time Warner (TWX) CEO Jeff Bewkes had discussions about combining their companies in meetings last year, Bloomberg reports, citing three people with knowledge of the matter. Reference Link
15:56 EDTCBSTime Warner, CBS CEOs discussed possible merger last year, Bloomberg reports
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13:06 EDTCBSBattleground: Analysts take opposite sides on Netflix
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11:36 EDTCBSApple may launch standalone TV in 2016, says Piper Jaffray
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March 16, 2015
07:39 EDTCBSViacom shareholder meeting may question Viacom, CBS control, NY Post says
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