New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 28, 2014
07:29 EDTFOXA, NWS, FOX, BSYBY, NWSASpeculation on News Corp bid for Sky reignited, The Independent says
Speculation regarding a potential News Corp (NWS, NWSA) bid for British Sky Broadcasting (BSYBY) has been reignited following the promotions of James Murdoch to Co-COO of 21st Century Fox (FOX, FOXA) and Lachlan Murdoch to non-executive co-chairman of News Corp, according to The Independent. Reference Link
News For NWS;NWSA;FOX;FOXA;BSYBY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 21, 2014
09:27 EDTFOXA21st Century Fox shares set to rise, says Sterne Agee
Subscribe for More Information
November 20, 2014
10:10 EDTNWSASoutheastern selling down stake in News Corp., Australian says
Subscribe for More Information
07:42 EDTFOXAStudios looking abroad for opportunity in TV licensing, WSJ reports
For U.S. television studios, such as Time Warner’s (TWX) Warner Bros., licensing shows abroad, which was once a small side business, has become a much-needed source of growth and is increasingly needed to make shows profitable, reported The Wall Street Journal. In addition to Time Warner, CBS Corp. (CBS), Sony (SNE) and 21st Century Fox (FOXA) also see huge promise from international TV distribution, the report noted. Reference Link
November 18, 2014
09:10 EDTNWSASoutheastern leads challenge to News Corp. voting structure, FT says
Southeastern Asset Management, which now controls 12.7% of News Corp’s voting stock, is at odds with Rupert Murdoch’s family over the company's dual-class share structure that gives Murdoch an outsized amount of the voting power, reported Financial Times. Reference Link
November 17, 2014
15:43 EDTNWSAGabelli liquidates stake in Move, Inc.
Gabelli's most recent stake, as reported on November 3, was 8.84%. As a result of the completion of the acquisition of the company by News Corp. (NWSA), Gabelli no longer has beneficial ownership of any of its shares.
November 14, 2014
08:29 EDTNWSA, NWSNews Corp completes acquisition of Move, Inc
News Corp announced that it has successfully completed its acquisition of Move, Inc. Move is a provider of online real estate services and operates a network of sites, including realtor.com, the official website for the National Association of Realtors. The previously announced tender offer by a subsidiary of News Corp for all of the outstanding shares of Move common stock at a price of $21.00 per share expired as scheduled at the end of the day, 12:00 midnight, New York City time, on November 13, 2014. Excluding shares tendered by notice of guaranteed delivery, a total of approximately 34,299,586 shares were validly tendered into and not withdrawn from the tender offer, representing, together with the shares owned by News Corp and its subsidiaries, approximately 83.1% of Move’s outstanding shares. As a result, News Corp, through its subsidiary, has accepted for payment and will promptly pay for all such validly tendered shares pursuant to the terms of the tender offer. Following its acceptance of the tendered shares, News Corp completed the acquisition by causing the merger of its subsidiary with and into Move without a vote of Move’s stockholders, pursuant to Section 251(h) of the Delaware General Corporation Law. Upon completion of the merger, Move became an indirect, wholly-owned subsidiary of News Corp. As a result of the merger and in accordance with the terms of the merger agreement, all eligible Move shares not tendered into the tender offer were cancelled and converted into the right to receive $21.00 per share in cash, without interest and less any applicable withholding taxes, the same price per share offered in the tender offer. As a result of the acquisition, Move shares ceased to be traded on the NASDAQ Stock Market. REA Group Limited, in which News Corp owns a 61.6% interest, has entered into a definitive agreement with News Corp to acquire a 20% stake in Move. The transaction is expected to be completed on November 17.
November 13, 2014
06:27 EDTNWSA, NWSDow Jones to end German, Turkish services, Sunday inserts, WSJ reports
Dow Jones, a unit of News Corp, will eliminate certain local-language news products in Germany and Turkey, The Wall Street Journal Radio Network and The Sunday Journal, leading to the reduction of 50-60 jobs, the Wall Street Journal reports, citing a source familiar with the matter. In a staff memo, Dow Jones CEO William Lewis explained that "It will come as no surprise that in order to do even more, we must do fewer things that are not core to our business so that we can move faster in pursuit of our goals." Reference Link
06:17 EDTFOXASony unveils PlayStation Vue, a cloud-based TV service
Subscribe for More Information
November 12, 2014
10:43 EDTFOXABernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use