Discovery says 'fully on track' to see OWN's cash flow break even in 2H The company says it will continue to return capital to shareholders aggressively if it is the best use of its balance sheet, says first priority remains investing in core business. Anticipates returning similar amounts of capital to shareholders through buybacks in 2013 as in 2012. Comments made on the Q4 earnings conference call.
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EC to launch formal probe of sales of pay-TV rights, FT says The European Commission is preparing to launch a formal antitrust investigation into sales of pay-TV rights, said Financial Times, citing people familiar with the case. Full details of the probe remain unclear, but it will potentially have ramifications for sporting rights and rights sold by film studios such as Sony Pictures (SNE) and 21st Century Fox (FOXA), the report added. Reference Link