LOS ANGELES (Reuters) – Wynn Resorts Ltd (WYNN.O: Quote, Profile, Research, Stock Buzz) retracted an announcement that it had advanced a major project in Macau, saying it had been made in error after its shares surged on the news.
The stock, halted after that initial run-up, resumed trade shortly after and closed up 4.27 percent at $127.27.
By Sue Zeidler
(Reuters) – Eastman Kodak Co has agreed to sell its online photo services business to Shutterfly Inc for $23.8 million, kicking off the bankrupt photography pioneer’s relaunch as a much slimmer company although a patent sale seen crucial to its turnaround may still be months away.
The once-iconic company that invented the hand-held camera has said it will quit the camera business and is expected to fetch $1 billion to $2 billion from the sale of about 1,100 digital patents, which is due to get under way by June 30.
March 1 (Reuters) – Eastman Kodak Co EKDKQ.PK has
agreed to sell its online photo services business to Shutterfly
Inc (SFLY.O: Quote, Profile, Research) for $23.8 million, kicking off the bankrupt
photography pioneer’s relaunch as a much slimmer company
although a patent sale seen crucial to its turnaround may still
be months away.
The once-iconic company that invented the hand-held camera
has said it will quit the camera business and is expected to
fetch $1 billion to $2 billion from the sale of about 1,100
digital patents, which is due to get under way by June 30.
LOS ANGELES (Reuters) – Hedge-fund billionaire Steve Cohen, St Louis Rams owner Stan Kroenke and a group that includes media executive Leo Hindery and Los Angeles investor Tom Barrick are among seven parties who advanced to the next round of bids for the Los Angeles Dodgers, two people with knowledge of the bidding said on Monday.
The seven remaining bidders, which also include Beverly Hills real estate developer Alan Casden and a group led by Roy Disney’s one-time financial advisor Stanley Gold, will now be vetted by Major League Baseball.
LOS ANGELES (Reuters) – Japanese investor Kazuo Okada, embroiled in a legal battle with Wynn Resorts CEO Steve Wynn, a long-time business partner, over alleged improper payments made to Philippine regulators, says he will not attend a Friday meeting scheduled to oust him from the board of Wynn Macau.
In a letter to the board of Wynn Resorts’ Macau unit, a copy of which was provided to Reuters, Okada disagreed with that impending decision and said his attendance would be meaningless as his ejection at the Macau meeting was all but certain.
LOS ANGELES (Reuters) – Los Angeles developer Rick Caruso and former Dodgers manager Joe Torre have withdrawn their joint bid to buy the Los Angeles Dodgers baseball team, a person familiar to the bidding process said on Thursday, the day that second-round bids were due.
That source and another source close to the situation said Caruso and Torre backed out due to team owner Frank McCourt’s refusal to include the Dodger Stadium parking lots in the sale. The storied team is expected to be sold by late April.
LOS ANGELES (Reuters) – Casino mogul Steve Wynn will convene an emergency meeting of the directors of Wynn Macau on Friday with the goal of kicking his former friend and partner Kazuo Okada off the board, according to two sources familiar with the matter.
The growing battle between Wynn Resorts CEO Wynn and co-founder Okada is set to escalate another notch, after both billionaires traded accusations in past weeks about improper payments to foreign gambling regulators.
LOS ANGELES (Reuters) – The show must go on. Despite Whitney Houston’s shocking death a day earlier, music stars came out to celebrate Sunday’s Grammy Awards with typical red carpet flash and over-the-top fashion.
Several artists exuded glamour, including Carrie Underwood, nominated for best country solo performance, who arrived shimmering in a silver Gomez-Garcia gown with a Swarovski black clutch. Other musicians raised eyebrows, including up-and-coming Russian-born singer Sasha Gradiva, who wore a soft pink mermaid shaped gown that featured a machine-gun adorned sleeve.
LOS ANGELES (Reuters) – Ex-Beatle Paul McCartney racked up yet another honor on Friday when he received the MusiCares’ 2012 Person of the Year award at a star-studded ceremony hosted by Grammy organizers ahead of this weekend’s major music awards.
The line-up of artists celebrating the former member of the Fab Four at the charitable affair included veteran artists Neil Young and James Taylor, singers Katy Perry, Norah Jones, Alicia Keys and Diana Krall, and pop rockers Coldplay and Foo Fighters,
LOS ANGELES (Reuters) – The second round of bids for the highly sought after Los Angeles Dodgers baseball team is due around February 23, according to several people familiar with the process.
The Dodgers are expected to fetch more than $1.5 billion, a record for a baseball team, and have attracted an impressive lineup of sporting and financial moguls, ranging from Magic Johnson to hedge fund billionaire Steve Cohen. Terms of a settlement between Major League Baseball and team owner Frank McCourt stated that McCourt must sell the team by April 30.