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Stock Market & Financial Investment News

News Breaks
May 8, 2014
07:37 EDTLMCA, CHTR, TWCLiberty Media to spin-off Liberty Broadband into new publicly-traded company
Liberty Media’s (LMCA) board has authorized management to pursue a plan to spin-off to its stockholders common stock of a newly formed company to be called Liberty Broadband and to distribute subscription rights to acquire shares of Liberty Broadband’s common stock. Liberty Broadband would be comprised of, among other things, Liberty Media's interest in Charter Communications (CHTR), subsidiary TruePosition, minority equity investment in Time Warner Cable (TWC) and certain deferred tax and deferred revenue liabilities, as well as liabilities related to the Time Warner call option. In the spin-off, record holders of Series A, Series B and Series C common stock would receive one-fourth of a share of the corresponding series of Liberty Broadband common stock for each share of common stock held by them as of the record date for the spin-off, with cash in lieu of fractional shares. In addition, stockholders will also receive a subscription right to acquire one share of Series C Liberty Broadband common stock for every five shares of Liberty Broadband common stock they receive in the spin-off. The subscription rights are being issued to raise capital for general corporate purposes of Liberty Broadband and will enable the holders to acquire shares of Series C Liberty Broadband common stock at a 20% discount to the 20-trading day volume weighted average trading price of the Series C Liberty Broadband common stock following the completion of the spin-off. The company expects the subscription rights to become publicly traded once the exercise price has been established and the rights offering to expire forty trading days following the completion of the spin-off. The spin-off and rights offering are intended to be tax-free to stockholders of Liberty Media and the completion of the spin-off and commencement of the rights offering will be subject to various conditions, including the receipt of an opinion of tax counsel. Subject to the satisfaction of these conditions, the completion of the spin-off and the commencement of the rights offering is expected to occur in the second half of 2014.
News For LMCA;CHTR;TWC From The Last 14 Days
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September 16, 2014
13:50 EDTTWCComcast says will reveal capital plan at close of Time Warner Cable deal
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13:40 EDTTWCComcast says still expects Time Warner Cable deal to close in 2015
13:38 EDTTWCComcast says 'everything on track' with Time Warner Cable deal
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11:42 EDTTWCTime Warner Cable sees Comcast deal closing early FY15
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07:27 EDTTWCBofA/Merrill to hold a conference
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September 15, 2014
07:53 EDTCHTRCharter volatility at historic lows
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September 11, 2014
13:06 EDTTWCDeal probe expanded to AT&T, DirecTV agreement, Reuters says
The state attorneys general who are collaborating with the U.S. Justice Department to figure out if Comcast's (CMCSA) purchase of Time Warner Cable (TWC) is permissible have broadened their probe to also incorporate AT&T's (T) potential acquisition of DirecTV (DTV), according to Reuters, citing sources close to the merger investigation. Reference Link
13:05 EDTLMCALiberty Media CEO says eyeing more deals, sees cable consolidation 'inevitable'
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September 10, 2014
11:50 EDTCHTR, TWCComcast sees Time Warner Cable deal closing in early 2015
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10:26 EDTTWCDiscovery CEO says likes doing deals with Netflix, Amazon
CEO David Zaslav says Comcast (CMCSA)/Time Warner Cable (TWC) deal "presents some serious issues," is talking to FCC about deal. Says will be opportunistic with international acquisitions, but "We don't feel like we need to acquire anything at this point." Says has more subscribers than ESPN with Europsport. Comments made at the Goldman Sachs Communacopia Conference.
10:00 EDTTWC, CHTROn The Fly: Analyst Initiation Summary
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07:21 EDTCHTRCharter initiated with a Buy at Canaccord
Target $182.
06:04 EDTTWCTime Warner Cable initiated with a Buy at Canaccord
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September 9, 2014
07:44 EDTTWCComcast price target raised to $72 from $60 at UBS
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07:17 EDTTWCThe Wireless Association to hold a conference
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