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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.”
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November 30, 2015
08:53 EDTCBSSunTrust's Peck lists 10 potential CEO candidates for Yahoo
Several media reports have discussed the health of Yahoo's (YHOO) core business and stability of senior management, in particular CEO Marissa Mayer, SunTrust analyst Robert Peck tells investors today in a research note. Amid investor questions, the analyst scored a list of around 40 potential CEO candidate suggestions. The top 10 most cited, in no particular order, were Ross Levinsohn, Chegg's (CHGG) Dan Rosensweig, Facebook's (FB) Sheryl Sandberg, CBS Interactive's Jim Lanzone, David Rosenblatt, Margo Georgiadis, YouTube's (GOOG) Susan Wojiki, General Electric's (GE) Beth Comstock, NBCUniversal's Linda Yaccarino and Jason Killar. Peck points out that he's unclear what the board might do regarding a potential CEO change. He keeps a Buy rating on Yahoo with a $40 price target citing the "overwhelming likelihood" that the company's Alibaba (BABA) stake spin-off is treated as tax-free.
06:24 EDTCBSNetworks aiming to protect TV rights amid streaming battle, WSJ says
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November 27, 2015
07:45 EDTCBSAmazon plans to let Prime users add other online networks, Bloomberg reports
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