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Stock Market & Financial Investment News

News Breaks
July 7, 2014
07:21 EDTLMCALiberty Media: Series C stock to trade under 'LMCKV' from July 8-July 23
Liberty Media has been advised by Nasdaq that, in connection with Liberty’s upcoming issuance of shares of its Series C common stock by means of a dividend the Series C common stock will trade on a when-issued basis on the Nasdaq Global Select Market under the symbol “LMCKV” from July 8 though July 23. Shares of Series C common stock are expected to be issued to holders of record of Liberty’s Series A common stock and Series B common stock on July 7. However, because Nasdaq has established July 24 as the ex-dividend date for the Dividend, and as a result of related “due bill” trading procedures, persons acquiring shares of Liberty’s Series A common stock and Series B common stock in the market through July 23 will still receive shares of Series C common stock in the Dividend. Liberty currently anticipates that the payment date for the Dividend will be on July 23. Liberty expects that the Series C common stock will begin trading in the regular way on the Nasdaq Global Select Market under the symbol “LMCK” beginning on July 24.
News For LMCA From The Last 14 Days
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April 23, 2015
10:12 EDTLMCACharter seen as white knight for Time Warner Cable if Comcast deal blocked
The shares of Time Warner Cable (TWC) are declining after The Wall Street Journal reported that the FCC's staff recommended a course of action that could derail the company's merger with Comcast (CMCSA). However, research firm Jefferies remained upbeat on Time Warner Cable shares, saying that Charter (CHTR) would probably buy the company if the government nixes the Comcast deal. WHAT'S NEW: The FCC's staff yesterday recommended that the agency allow an administrative law judge to decide whether Comcast's proposed takeover of Time Warner Cable should be allowed to proceed, according to The Wall Street Journal. Such a move by the FCC would be seen as a strong sign that the agency does not believe that the takeover is in the public interest, the newspaper stated. ANALYST REACTION: In a note to investors earlier today, Jefferies analyst Mike McCormack upgraded time Warner Cable to Buy from Hold. Assuming the Comcast deal is going to close, Time Warner Cable's stock is worth $193, McCormack wrote. But, even in the unlikely event that the deal is not approved, Charter Communications is likely to step in and buy Time Warner Cable at a similar valuation as that which Comcast agreed to, McCormack predicted. An acquisition by Charter would face less regulatory risk than the Comcast deal, he added. Moreover, if the Comcast deal,is vetoed, Time Warner Cable could return up to $7B of cash to shareholders before holding talks with Charter, wrote the analyst, who set a $193 price target on Time Warner Cable. WHAT'S NOTABLE: John Malone, the chairman of Liberty Media (LMCA), has previously said that Charter would look to buy Time Warner Cable if its deal with Comcast falls through. PRICE ACTION: In early trading, Time Warner Cable slipped fractionally to $149.30, Comcast rose 2% to $60 and Charter gained 0.4% to $185.70.

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