(Reuters) – Netflix Inc adopted a poison pill defense against a hostile takeover, days after activist investor Carl Icahn disclosed a stake in the video rental company.
The move is aimed at preventing an outsider who lacks Netflix board approval from accumulating a stake of 10 percent or more, the company said in a statement. The board approved the provision on Friday. It remains in effect for three years.
LOS ANGELES/NEW YORK (Reuters) – Media companies from NBC and Fox to Al-Jazeera are digging deep into their wallets to build new national sports networks and grab a slice of the lucrative market dominated by Walt Disney Co’s sports juggernaut ESPN.
The networks are chasing the big advertising dollars that flow into live sports programming, plus monthly subscription fees paid by cable operators that are far higher than those for other channels.
LOS ANGELES (Reuters) – Netflix Inc said on Thursday it was open to input from billionaire Carl Icahn, the activist investor who now controls 10 percent of the video rental company’s shares a day after his surprise investment.
“We have many shareholders, now including Mr. Icahn, and we’re always open to their perspective on how to build on our success,” Netflix said in a statement issued in response to Icahn’s disclosure of his investment in a regulatory filing on Wednesday.
Oct 31 (Reuters) – Billionaire investor Carl Icahn bought 10
percent of Netflix Inc, presaging another bruising
corporate battle and raising the possibility that the pioneering
movie and TV-streaming company would get acquired.
Netflix shares rose 14 percent to close at $79.24 on Nasdaq
after Icahn disclosed in a regulatory filing he purchased shares
and call options in the company that boasts more than 30 million
(Reuters) – Billionaire investor Carl Icahn bought 10 percent of Netflix Inc (NFLX.O: Quote, Profile, Research, Stock Buzz), presaging another bruising corporate battle and raising the possibility that the pioneering video-streaming company would get acquired.
Netflix shares rose 14 percent to close at $79.24 on Nasdaq after Icahn disclosed in a regulatory filing that he bought shares and call options that will give him a combined 10 percent stake.
LOS ANGELES (Reuters) – Walt Disney Co’s $4 billion deal to buy George Lucas’s Lucasfilm Ltd, Disney’s third major entertainment acquisition in seven years, started taking shape in May 2011, when the “Star Wars” creator had to show Disney CEO Bob Iger how to use a lightsaber.
Lucas and Iger were at Disney’s Hollywood Studios theme park in Orlando, Florida, brandishing the toys at the grand opening of a 3-D version of the park’s Star Tours ride, Iger recalls, and “George had to show me how to use it.”
(Reuters) – Walt Disney Co has agreed to buy filmmaker George Lucas’s Lucasfilm Ltd and the “Star Wars” franchise for $4.05 billion in cash and stock, a blockbuster deal that adds one of the most beloved franchises in entertainment history to Disney’s lineup.
Disney said there would be a new series of “Star Wars” feature films as part of the deal, with the first movie expected in 2015. Disney Chief Executive Bob Iger, in prepared remarks for analysts, said the plan was to release a new movie in the series every two to three years thereafter.
LOS ANGELES (Reuters) – Viewers looking for an update as Hurricane Sandy approached the U.S. East Coast made The Weather Channel the most-watched cable news channel on Sunday.
An average of more than 1.4 million people watched The Weather Channel at some point during the day, according to Nielsen data supplied by the network.
LOS ANGELES, Oct 29 (Reuters) – The San Francisco Giants’
four-game World Series sweep thrilled the team’s fans, but the
lopsided contest attracted the smallest television crowd in the
championship’s history for broadcaster Fox.
The 2012 telecast of the Fall Classic averaged 12.7 million
viewers, News Corp unit Fox said on Monday. That left
the Giants’ victory over the Detroit Tigers in the ratings
cellar, according to Nielsen data.
Oct 26 (Reuters) – Time Warner Cable, under pressure to sign TV distributors to cover the costs of its deal to carry Los Angeles Lakers games, reached agreements with Charter Communications and Verizon four days before the basketball team’s first home game, the companies said on Friday.
“Charter is the first provider of this brand new programming in our service areas, and we know that the addition of these networks especially pleases our customers in Southern California,” said Allan Singer, Charter’s senior vice president of programming.