The pay-TV network made the announcement during Time Warner’s annual investor day Wednesday.
The announcement comes the same day that Turner Broadcasting inked a deal with the NBA for more than $1 billion per year for television rights to games. Turner had previously initiated voluntary buyouts to cut its workforce.
Vice Media, which started as a tiny free magazine in Montreal, raised $500 million in a pair of deals that value the company at $2.5 billion. The investments, which come after talks about a deal with Time Warner’s HLN cable network fell apart, were from A&E Networks and venture capital firm Technology Crossover Ventures. Each company invested $250 million in return for a 10% stake.
The investment banker turned media mogul turned New York City mayor is heading back to run the company he founded. And as Bloomberg expands its news operation into magazines, politics, and more, his first order of business should be to buy CNN.
A media mogul may be Twitter’s best troll.
One day after withdrawing their offer to buy Time Warner, Rupert Murdoch and top deputy Chase Carey made clear they have moved on from the deal. In making those comments, which came as Fox reported fiscal fourth quarter 2014 earnings, the company puts the pressure squarely on Time Warner CEO Jeff Bewkes to perform.
On the company’s second-quarter earnings call, CEO Jeff Bewkes acknowledged that HBO GO has stiff competition in Netflix — and that the former will likely take a page from Netflix’s book in the future.
But the move could just be a negotiating ploy.
The streaming video service said it added more than 1 million subscribers internationally in the second quarter for a total of 13.8 million. It plans to launch in Germany, France, and other markets later this year.
On the heels of Time Warner’s rejection of an unsolicited takeover bid from Rupert Murdoch’s 21st Century Fox, here’s a look at how companies politely tell potential buyers to get lost.
Jeff Bewkes doesn’t like big media mergers, but that doesn’t mean he won’t make a good deal, from Rupert Murdoch or another bidder. He’ll do whatever creates the most value for shareholders, and now that most likely means selling.
The New York Times reported this morning that Murdoch made an $80 billion offer and is “determined” to buy Time Warner. Time Warner said today it had rejected the deal and “it was not in the best interests” to accept the deal or enter talks with Murdoch.
As the annual Sun Valley conference hosted by investment bank Allen & Co. gets underway in Idaho this week, the eyes of the media world will be on Time Warner CEO Jeff Bewkes. After years of spinning off assets and slimming down his company, observers are wondering if Time Warner is a buyer or a seller. Does Bewkes want to buy a company like Discovery or sell to someone like Rupert Murdoch’s Fox?
Stranger things have happened.
Between coffees, obviously.
An opportunity to ditch an inconvenient channel. Shane Smith could be about to get his network.
In a bid to buy both cool and a digital media presence, Time Warner is reportedly talking to Vice Media about a deal. The details are murky, but could involve Time Warner infusing Vice with up to $1 billion in cash and spinning off its HLN cable news network. The reports, which value Vice at around $2 billion, follow Time Warner’s spin off of its legacy magazine unit, Time Inc.
Sometimes the billionaire activist pushed for a change that didn’t come, and companies fared better than if they’d heeded his advice, data shows. Most times, Carl Icahn made a lot of money.
“I should go to grad school.”
Chief Executive Rob Marcus could take home $80 million.
Apple makes nearly half a million dollars for each of its 80,300 employees, by far the most of any company on the list.
The consolidation of anti-cable company rage…and jokes.
The $42.5 billion deal would make the country’s largest cable provider even bigger. And already people are unhappy.
“We sincerely apologize for the inconvenience this caused our customers,” a spokesperson said.Update: Time Warner is providing compensation for the outage.
Time Inc. is set to become a standalone company next year. Here are some facts you might not know about the company.
The last 10 years have not been kind to the nation’s largest magazine publisher.
Also, the image is owned by Time Warner.
Here’s a handy and fun outline to fill in and use to play along with the activist investor as he wages battles on company after company.
Your road to recovery is just a click away!