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Stock Market & Financial Investment News

News Breaks
July 16, 2014
11:45 EDTFOXA, FOX, SNI, DISCA, AMCX, VIA, VIAB, CBS, TWXMedia stocks rally after Time Warner rejects Fox bid
Media stocks are rallying after Time Warner (TWX) confirmed that it rejected an offer made by 21st Century Fox (FOXA, FOX) to combine the media giants. WHAT'S NEW: Both Time Warner and 21st Century Fox confirmed an earlier CNBC report that Time Warner rejected an $80B takeover offer from 21st Century Fox. Time Warner said it turned down Fox's offer to acquire all of the outstanding shares of the company for a combination of 1.531 of Twenty-First Century Fox Class A non-voting common shares and $32.42 in cash per share. Time Warner added that its board is confident that continuing to execute its strategic plan will "create significantly more value for the company and its stockholders and is superior to any proposal that Twenty-First Century Fox is in a position to offer." 21st Century Fox also confirmed that it made a formal proposal to Time Warner, which was rejected, and added that the companies are not currently in any discussions. PRICE ACTION: In late morning trading, Time Warner advanced 16.5% to $82.70, while Twenty-First Century Fox class A shares are down 5% to $33.45. OTHERS TO WATCH: Other media stocks were trading higher after the news. Discovery Communications (DISCA) rose 6%, Scripps Networks Interactive (SNI) gained 3%, AMC Networks (AMCX) added 3.2%, Viacom class B shares (VIAB) increased 4% and CBS (CBS) advanced 1.5%.
News For TWX;FOXA;FOX;SNI;DISCA;AMCX;VIA;VIAB;CBS From The Last 14 Days
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July 23, 2014
08:24 EDTTWXTurner average ratings down sharply, layoffs still not made, NY Post says
TNT average year-to-date ratings are down sharply in its target demographic, though insiders say they are still waiting for the ax to fall at the network after John Martin warned that layoffs are likely when he moved from being CFO of Time Warner in January to take over at Turner, said The New York Post. Reference Link
06:42 EDTTWX, FOXFox unlikely to raise offer for Time Warner beyond $95 per share, WSJ says
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06:36 EDTFOXA21st Century Fox downgraded to Market Perform from Outperform at Cowen
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06:36 EDTTWXTime Warner downgraded to Market Perform from Outperform at Cowen
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06:36 EDTVIABViacom downgraded to Market Perform from Outperform at Cowen
July 22, 2014
06:20 EDTVIAB, VIAViacom's music group and Spotify form music streaming partnership, WSJ reports
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July 21, 2014
17:06 EDTTWXTime Warner amends by-laws to block holders ability to call special meeting
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15:19 EDTFOXA, TWXFox unlikely to raise Time Warner bid immediately, Business Insider says
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11:04 EDTTWXOptions with increasing implied volatility:
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07:28 EDTFOX, FOXAFox chairman says laws hinder Tribune acquisition
21st Century Fox (FOX, FOXA) chairman Rupert Murdoch posted on his Twitter account that he cannot make a play for Tribune (TRBAA) due to 'cross-ownership laws from another age still in place." Reference Link
07:13 EDTTWX, FOXA, FOXFox contemplates using Sky sale to enhance Time Warner offer, Reuters says
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06:57 EDTTWX, FOXA, FOXTime Warner-Fox agreement would add weight in China, Reuters says
Twenty-First Century Fox (FOX, FOXA) chairman Rupert Murdoch's target to purchase Time Warner (TWX) would give the firm a greater say in China, a quick-growing market that media firms are finding difficult to break into, reported Reuters. Even though Time Warner's board denied Murdoch's $80B bid, the chairman is expected to continue pursuing the company. Reference Link
06:34 EDTDISCA, SNIDeals increase vulnerability of small cable stations, NY Times reports
Recent major M&A deals, if approved, would make the owners of small cable TV channels more vulnerable, industry executives and analysts say, according to The New York Times. It is uncertain if the small cable TV networks will be acquired or disappear, the newspaper stated. Owners of small cable channels include Discovery Communications (DISCA), Scripps Networks (SNI), and Crown Media (CRWN). Reference Link
July 18, 2014
16:47 EDTFOXA, TWXMarket ends week higher as earnings, M&A offset geopolitical tensions
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13:02 EDTTWX, FOXA, FOXGoldman, JPMorgan ready with $25B bridge loan for Time Warner takeover by Fox
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12:21 EDTVIAB, DISCA, CBS, AMCX, TWX, FOXACable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
11:34 EDTTWXOptions with increasing implied volatility
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08:21 EDTCBS, FOXA, TWXTime Warner merger could change Warner Bros. spot in tv landscape, WSJ says
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07:05 EDTFOXA, TWX, FOX, CBSCBS CEO says will examine CNN if Time Warner puts up for sale, Reuters says
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06:53 EDTFOX, FOXABSkyB aims for European expansion with Fox German, Italian units, Reuters says
In an effort to try to expand in Europe, BSkyB has started discussions with Rupert Murdoch's 21st Century Fox to purchase Sky Deutschland and Sky Italia, according to Reuters, citing comments from one top-ten shareholder in BSkyB. The move would create a European powerhouse with 20M subscribers. Reference Link
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