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Stock Market & Financial Investment News

News Breaks
May 8, 2014
07:37 EDTTWC, CHTR, LMCALiberty 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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March 27, 2015
06:14 EDTTWCAT&T betting on slow decline in traditional cable packages, WSJ says
AT&T (T) knew that demand for cable bundles had likely peaked when it bought DirecTV (DTV), but the company believes the decline in traditional cable businesses will be slower than anticipated, allowing it to fund upgrades to its broadband network, reports the Wall Street Journal, citing statements by Chief Strategy Officer John Stankey. "The world is going to be broadband... and that is where we want to be," said Stankey. The Journal notes that Apple (AAPL), Time Warner's (TWC) HBO, and Dish (DISH) have launched or plan to launch web-TV packages and services. Reference Link
March 26, 2015
08:51 EDTCHTRCharter to participate in industry consolidation, says Canaccord
Canaccord continues to believe that Charter will be involved with and benefit from industry consolidation. The firm said the company continues to be in a position to take market share and is in an even better position as an industry consolidator should any of the current transactions not receive regulatory approval. Canaccord reiterates a Buy rating and $203 price target on Charter shares.
08:08 EDTTWCTime Warner Cable standalone value $172 per share, says Wunderlich
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March 25, 2015
15:33 EDTTWCCPUC vote on Comcast deal pushed out to May 7, LA Times reports
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10:29 EDTTWCDISH Chairman Ergen says Comcast, TWC merger should be blocked
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09:22 EDTTWCTime Warner Cable disputes report of Dodgers channel writedown, LA Times says
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March 24, 2015
08:19 EDTTWCTime Warner Cable expected to write down Dodgers deal by up to $1B, NY Post says
Time Warner Cable (TWC) is expected to write down the value of its LA Dodgers distribution rights by up to $1B, reports the New York Post, citing sources. The writedown may be a requirement before any deal with Comcast (CMCSA, CMCSK) can be made, suggested one of the sources. Reference Link
March 20, 2015
09:59 EDTTWC, CHTRCharter may have interest in Cablevision 'at some point,' says Detwiler
Detwiler Fenton believes there is truth to last week's reports of Charter (CHTR) being in talks to acquire Bright House Networks. In addition, the firm says its checks indicate Charter may have interest in buying Suddenlink Communications and Cablevision (CVC) "at some point" as a part of a lager acquisition strategy. Detwiler adds Charter's potential deal strategy assumes Comcast's (CMCSA) bid for Time Warner (TWC) wins regulatory approval. Should the deal not get approved, Detwiler believes Charter will turn its attention back to Time Warner.
March 18, 2015
07:30 EDTTWCAT&T-DirecTV getting less attention than Comcast-Time Warner Cable, Reuters says
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March 17, 2015
16:40 EDTCHTRCharter shareholders approve share issuance in transactions with Comcast
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March 16, 2015
13:22 EDTTWCThe Children's Investment Fund reports 5.0% passive stake in Time Warner Cable

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