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July 9, 2014
08:02 EDTTMUS, SFXESFX Entertainment, T-Mobile announce expansion of marketing partnership
SFX Entertainment (SFXE) and T-Mobile US (TMUS) announced an expansion of their previously announced marketing partnership, with T-Mobile becoming a sponsor of SFX’s festival: TomorrowWorld, Electric Zoo and Mysteryland, in 2014 and 2015. The partnership will also make T-Mobile a key partner in the launch of the new Beatport website and mobile music service, as well as partner to SFX and Clear Channel on its upcoming Beatport Radio Show on 88 Top 40 broadcast stations nationwide.
News For SFXE;TMUS From The Last 14 Days
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May 29, 2015
08:01 EDTSFXESFX Entertainment CEO says going-private transaction would be equity-financed
Robert F.X. Sillerman, the Chairman and CEO of SFX Entertainment, affirmed that his affiliate’s proposed acquisition of the outstanding common stock of SFX would be financed on an all-equity basis. “This is not a leveraged buyout,” said Mr. Sillerman. “I hope to use all-equity financing to fund the proposed going-private transaction. I have no plans to have the company incur additional debt to fund the transaction.” As made public in the May 26 announcement disclosing terms of the agreement, SFX stockholders will receive $5.25 in cash from an affiliate of Mr. Sillerman for each share of SFX common stock they hold, in a transaction valued at approximately $774M. Mr. Sillerman presently owns approximately 37.4% of the company’s outstanding common stock. Stockholders will also be able to elect to retain stock in the Company in lieu of cash, subject to certain conditions and limitations. The SFX Board of Directors, acting on the recommendation of a Special Committee, unanimously approved the merger agreement, which is subject to a number of conditions, including receiving the affirmative vote of a majority of the unaffiliated stockholders. Mr. Sillerman recused himself from the Board vote regarding the transaction. The merger agreement provides for a 45-day “go-shop” period, during which the Special Committee will actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals. Mr. Sillerman has agreed to vote his shares in favor of any superior proposal that has a value of at least 2.5% more than his highest offer. Jefferies LLC is serving as Mr. Sillerman’s sole financial advisor in connection with the transaction.
May 27, 2015
10:01 EDTTMUSOn The Fly: Analyst Downgrade Summary
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06:28 EDTTMUST-Mobile downgraded to Neutral from Outperform at Macquarie
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May 26, 2015
12:35 EDTSFXEOn The Fly: Top stock stories at midday
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10:16 EDTSFXESFX Entertainment resumes, up 21% to $5 after agreeing to be acquired
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09:48 EDTSFXESFX Entertainment to be acquired for $5.25 per share in cash, or $774M
09:46 EDTSFXESFX Entertainment to be acquired by affiliate of Robert F.X. Sillerman
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09:45 EDTSFXESFX Entertainment to be acquired by affiliate of Robert F.X. Sillerman
09:31 EDTSFXESFX Entertainment trading halted, pending news
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May 21, 2015
06:55 EDTTMUSDeutsche Telekom CEO says will consider T-Mobile partner, Reuters reports
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May 19, 2015
07:36 EDTTMUSAutomakers to start V2V car rollouts with spectrum at a premium, WSJ says
General Motors' (GM) upcoming Cadillac CTS is the only car firmly scheduled to launch in the U.S. with vehicle-to-vehicle communications, or V2V, but the industry has promised that V2V will revolutionize safety and Cisco (CSCO) joined automakers earlier this month to brief the FCC on plans to test airwave sharing soon, said The Wall Street Journal. However, cable and telecom companies are pressuring carmakers to give up a part of the airwaves marked for V2V to be available for broader use, the report added. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), Honda (HMC), Toyota (TM) and Volkswagen (VLKAY), while cable and telecom companies include Verizon (VZ), AT&T (T), Sprint (S), T-Mobile (TMUS), Comcast (CMCSA), Time Warner Cable (TWC) and Charter (CHTR). Reference Link
May 18, 2015
07:27 EDTTMUSJPMorgan to hold a conference
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May 15, 2015
17:15 EDTTMUSPaulson & Co. gives quarterly update on stakes
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