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Stock Market & Financial Investment News

News Breaks
August 19, 2013
18:40 EDTFOXA, NWSA21st Century Fox adds $110M to legal fee budget, WSJ says
Twenty-First Century Fox has added $110M to the amount it is budgeting to cover legal costs related to the alleged use of illegal reporting tactics at News Corp.'s (NWSA) U.K. newspapers, reports The Wall Street Journal. Reference Link
News For FOXA;NWSA From The Last 14 Days
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September 30, 2014
16:22 EDTNWSAOn The Fly: Closing Wrap
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13:30 EDTFOXAFox News Channel wins cable ratings crown, Politico says
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12:40 EDTNWSAOn The Fly: Midday Wrap
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11:54 EDTFOXAFCC eliminates sports blackout rules
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09:10 EDTNWSAOn The Fly: Pre-market Movers
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08:59 EDTNWSANews Corp. sees Move, Inc. deal 'modestly accretive' in short term
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08:52 EDTNWSANews Corp. sees Move, Inc. deal to close in 2Q15
News Corp (NWSA) believes Move, Inc. (MOVE) is in a unique position and holds an important role for the company to expand in the digital real estate industry. Says this is the most significant acquisition the company has made since launching as a separate company last summer. Says this acquisition allows the company to stay committed to returning capital to shareholders. Says believes that Move Inc.'s strategy is different that that of Trulia (TRLA) and Zillow (Z). Says expects that the transaction will be very modestly EPS valued in the short term. News Corp continues to expect to generate positive cash flow regardless of the acquisition. Says Move, Inc. will improve and enhance the core media assets of News Corp. Comments made during a conference call discussing News Corp's acquisition of Move, Inc.
06:34 EDTNWSANews Corp to acquire Move, Inc. for $21 per share, or approximately $950M
News Corp and Move, Inc. announced that News Corp has agreed to acquire Move. REA Group Limited, which is 61.6% owned by News Corp and is the operator of Australian residential property website, realestate.com.au, plans to hold a 20% stake in Move with 80% held by News Corp. Under the acquisition agreement, which has been unanimously approved by the board of Move, News Corp will acquire all the outstanding shares of Move for $21 per share, or approximately $950M, via an all-cash tender offer. This represents a premium of 37% over Move’s closing stock price on September 29, 2014. REA’s share will be acquired for approximately $200M. News Corp intends to commence a tender offer for all of the shares of common stock of Move within 10 business days, followed by a merger to acquire any untendered shares. News Corp. CEO Robert Thomson said, "In addition to boosting Move’s subscription, advertising and software services, this acquisition will give News Corp a significant marketing platform for our media assets, which will benefit from the high-quality geographic data generated by real estate searches. We certainly expect this deal to amount to far more than the sum of the parts.” For the year ended December 31, 2013, Move reported $227M in revenues, and $29M in adjusted EBITDA5, and generated the highest revenue per unique user in the industry. Move will become an operating business of News Corp and remain headquartered in San Jose, California.
06:32 EDTNWSANews Corp to acquire Move, Inc. for $21 per share, or approximately $950M
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06:25 EDTFOXAFCC asks media companies for Comcast contract details, WSJ reports
The FCC is pushing for media companies to submit details of their programming agreements with Comcast (CMCSA) ahead of the company's merger with Time Warner Cable (TWC), reports the Wall Street Journal. Citing a person familiar with the matter, the FCC believes the documents contain information that would be relevant in its review. Officials from media companies including CBS (CBS), 21st Century Fox (FOXA), Disney (DIS), Discovery (DISCA), Time Warner (TWX) and Viacom (VIA;VIAB) met with FCC staff earlier this month to voice concerns about releasing highly confidential materials. Reference Link
September 29, 2014
08:07 EDTFOXA21st Century Fox nominates Prudential plc CEO for election to board of directors
21st Century Fox (FOXA) announced that Tidjane Thiam, Group CEO, Prudential plc (PUK), has been nominated to join the Board of Directors and will stand for election at the company's Annual Meeting of Stockholders on November 12, in Los Angeles, CA.
07:25 EDTFOXA'Equalizer' tops domestic box office with $35M debut, WSJ reports
"The Equalizer," distributed by Sony (SNE), topped the domestic box office with a $35M weekend opening, beating out last week's winner, 21st Century Fox's (FOXA) "The Maze Runner," reported the Wall Street Journal. Reference Link
September 25, 2014
09:00 EDTNWSAGoogle responds to News Corp. criticism in blog post
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September 24, 2014
12:29 EDTFOXA20th Century Fox signs TV deal with Canadian Shomi, The Hollywood Reporter says
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09:05 EDTFOXAOn The Fly: Pre-market Movers
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05:57 EDTFOXAStarz hires investment bank to explore sale, WSJ reports
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05:51 EDTFOXAStarz met with 21st Century Fox about takeover, LA Times reports
Starz (STRZA) met with 21st Century Fox (FOXA) on Tuesday to discuss a potential takeover of the cable movie service, Los Angeles Times reports, citing three people familiar with the meeting. No deal may materialize and Fox took the meeting as a courtesy, the paper adds, citing a source. Reference Link
September 23, 2014
11:29 EDTFOXATribune Co. says talks with Fox on Seattle affiliation continue
Tribune Media (TRBAA) and Twenty-First Century Fox (FOXA) have been conducting ongoing discussions regarding Tribune's Fox affiliation in Seattle, KCPQ, Tribune said. "Throughout the course of this dialogue, which is ongoing, a variety of alternatives have been discussed and there is no resolution at this time. Fox has sent to Tribune a notice of termination of the Seattle affiliation agreement effective January 17, 2015. Nonetheless, we are continuing to engage in discussions with Fox and moreover have prepared for all operational and economic possibilities for our Seattle Fox station. We are confident that our remaining thirteen Fox affiliates will remain unaffected based on regulatory and contractual constraints," Tribune reported. KCPQ contributed approximately $13M in EBITDA in FY13 for Tribune.
September 22, 2014
06:44 EDTFOXA'The Maze Runner' leads weekend box office sales with $32.5M, WSJ reports
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September 19, 2014
10:07 EDTNWSAHigh option volume stocks
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