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Stock Market & Financial Investment News

News Breaks
February 28, 2014
08:37 EDTCETV, TWXCentral European Media to receive Time Warner financing to refinance notes
Central European Media Enterprises (CETV) announced that, to finance the redemption of its EUR 272,972,000 aggregate principal amount of 11.625% senior notes due 2016 and to provide additional liquidity, CME has entered into agreements with Time Warner (TWX) and one of its affiliates and filed a rights offering registration statement. In connection with the rights offering, CME shareholders holding Class A Common Stock and Preferred Stock will receive non-transferrable rights to purchase in the aggregate 3,391,403 units at a subscription price of $100.00 per unit. Shareholders will receive one right per 62.5 shares of Class A Common Stock held as of a record date to be determined at a later date and subsequently announced. Only shareholders holding 62.5 or more shares of Class A Common Stock on the record date will satisfy the minimum subscription threshold and be eligible to participate in the rights offering. Each unit will consist of a 15.0% Senior Secured Note due 2017 in the original principal amount of $100.00 and 21.167376 unit warrants. Each unit warrant will entitle the warrant holder to purchase one share of CME's Class A Common Stock at an exercise price of $1.00 per share. Time Warner has agreed to purchase all units in the rights offering not subscribed for by other shareholders. In addition, Time Warner will purchase 576,968 units from CME in a separate private placement transaction to close contemporaneously with the rights offering. In connection with the foregoing, CME will issue a warrant to Time Warner to purchase 30 million shares of Class A Common Stock at an exercise price of $1.00 per share. The Company expects to raise gross proceeds from the rights offering and the purchase of units by Time Warner of approximately $396.8M, which is equal to the amount of principal and early redemption premium payable to redeem the 2016 Notes at February 21 exchange rates. In addition, CME will issue 84M unit warrants in the rights offering and the Time Warner private placement.
News For CETV;TWX From The Last 14 Days
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September 19, 2014
06:15 EDTTWXTime Warner price target raised to $89 from $76.69 at Citigroup
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September 18, 2014
06:36 EDTTWXWarner Bros. could cut up to 1,000 jobs, Variety reports
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September 17, 2014
13:57 EDTTWXTNT obtains network television premiere rights to five upcoming Marvel films
Turner Network Television, or TNT, a subsidiary of Time Warner, has obtained the network television premiere rights to five upcoming Marvel Studios films, including "Avengers: Age of Ultron," and "Captain America 3." Each of the five films is tentatively scheduled to premiere on TNT a little over two years after its theatrical release. Reference Link
09:04 EDTTWXAmericas Media ad growth estimates lowered at Nomura
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September 15, 2014
07:29 EDTTWXSony's 'No Good Deed' tops weekend box office, WSJ reports
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September 11, 2014
11:10 EDTTWXFox COO Carey says company has 'moved on' from Time Warner, THR reports
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06:17 EDTTWXTime Warner not planning HBO IPO, comments on Fox, NY Post reports
Time Warner (TWX) CEO Jeff Bewkes told the Goldman Sachs Communacopia conference that the company is not planning an IPO or tracking stock for HBO, the New York Post reports. Bewkes also commented that the company took 21st Century Fox's (FOXA) takeover offer "very seriously," but it was determined that the integration process would be such a "large undertaking" that shareholders of both companies "would be exposed to incredible and unnecessary risks." Reference Link
September 10, 2014
07:31 EDTTWXGoldman to hold a conference
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September 9, 2014
07:28 EDTTWXFOX pursues reality TV joint venture agreement, Hollywood Reporter says
21st Century Fox (FOX, FOXA) president and COO Chase Carey said that the company doesn't want to pursue Time Warner (TWX) again or look for another large deal, but the firm is aiming to finalize an agreement to create a reality television joint venture agreement comprised of Shine Group, Endemol and Core Media in the future, according to Hollywood Reporter, citing comments from Carey. Reference Link

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