(Reuters) – Not everyone is happy with the campaign being waged against AOL Inc by activist hedge fund Starboard Value — namely some of the other top shareholders of the fallen Internet icon.
According to three sources with direct knowledge of the situation, some of AOL’s top shareholders intend to take their concerns to Starboard, which is mounting a proxy fight for seats on AOL’s board. One of Starboard’s candidates for the board is its founder and chief executive, Jeffrey Smith.
April 13 (Reuters) – Not everyone is happy with the campaign
being waged against AOL Inc (AOL.N: Quote, Profile, Research) by activist hedge fund
Starboard Value — namely some of the other top shareholders of
the fallen Internet icon.
According to three sources with direct knowledge of the
situation, some of AOL’s top shareholders intend to take their
concerns to Starboard, which is mounting a proxy fight for seats
on AOL’s board. One of Starboard’s candidates for the board is
its founder and chief executive, Jeffrey Smith.
(Reuters) – AOL Inc’s months-long auction to sell the majority of its patent trove attracted interest from e-commerce giants Amazon and eBay, which have been largely absent from the recent patent wars.
AOL said it was selling more than 800 patents related to advertising, search, e-commerce and mobile to Microsoft Corp for just over $1 billion, surprising investors with the size of the deal and sending AOL shares up more than 40 percent.
NEW YORK, Feb 9 (Reuters) – Thomson Reuters Corp
reported a fourth-quarter loss on Thursday
after taking a $3 billion non-cash goodwill impairment charge to
account for the decline in its financial services business.
The company gave no details about the charge, which helped
push its fourth-quarter results into a loss attributable to
common shareholders of $2.57 billion, compared with a profit of
$224 million in the year-ago quarter. This was its first
earnings report since James Smith took over as chief executive
NEW YORK (Reuters) – Janet Robinson will step down as chief executive of the New York Times Co at the end of the month after a seven-year run in which she attempted to steer the company through one of the harshest business environments it has ever faced.
The New York Times, which in addition to its flagship paper publishes The Boston Globe and the International Herald Tribune, among others, will begin a search for internal and external candidates to replace Robinson, 61. Until then, publisher Arthur Sulzberger Jr. will oversee the company.
NEW YORK , Nov 28 (Reuters) – AOL Inc <AOL.N Chief
Executive Tim Armstrong remains committed to keeping the
company independent and is not looking at Yahoo’s assets even
as AOL’s larger rivals seek to consolidate.
Armstrong said during Reuters’ Global Media Summit on
Monday that AOL has not signed a nondisclosure agreement with
Yahoo (YHOO.O: Quote, Profile, Research), its much larger competitor that is currently
seeking a possible sale of its assets.
NEW YORK (Reuters) – Thomson Reuters Corp Chief Executive Tom Glocer is stepping down at the end of the year following a slump in the share price in recent months. He will be replaced by Chief Operating Officer James Smith, a veteran Thomson executive who has run the company’s most successful operations.
The news and information company has undergone a series of structural changes and management shake-ups over the past six months to address the lackluster performance of its Markets business, which mainly serves financial institutions.
NEW YORK November30 (Reuters) – Hearst Magazines expects to reach one million digital subscriptions by the end of next year as more people sign up to read titles on tablet computers, the company’s president told Reuters on Wednesday.
“We do expect in 2012 at some point to be able to have more than a million on e-subscriptions,” Hearst Magazine President David Carey said.
Bobby Kotick — CEO of Activision, “Moneyball” actor -- stopped by the Reuters Global Media Summit on Monday to give us his take on Black Friday (Anecdotally: a success, though Saturday not so much) and to throw some cold water on rival EA’s upcoming release of “Star Wars.”
But it was what his 9-year-old daughter dressed up as for Halloween that really caught our attention. (Hint: Not Brad Pitt)
NEW YORK (Reuters) – Sirius XM Radio Inc (SIRI.O: Quote, Profile, Research, Stock Buzz) CEO Mel Karmazin admits that he doesn’t like playing second fiddle, which could pose a problem in 2012 if Liberty Media Corp (LMCA.O: Quote, Profile, Research, Stock Buzz) increases its stake in the satellite radio operator.
John Malone’s Liberty took a 40 percent stake in Sirius two years ago as part of deal to lend it $530 million so Sirius could stave off bankruptcy. Liberty has the option to increase its holding above 49.9 percent after March 2012.