Time Warner bid stalls
Monday 11 September 1995
Time Warner's bid for Turner Broadcasting appears to have stalled and it has begun to look doubtful that John Malone, chief executive of Telecommunications Inc, will agree to the current terms of the $8bn deal. Sources close to the talks, which have been going on for two weeks, say that although Time Warner and TBS are in agreement, Mr Malone, a notoriously tough negotiator, has been changing the terms. He has, in effect, the veto over the deal because Liberty Media, an affiliate of TCI, holds 21 per cent of Turner stock.
Current disputes centre on the swap value of Turner shares for those of Time Warner. Mr Malone has been pushing for a preferential rate that could give Liberty about 8 per cent of TW stock and $670m in profit that the heavily leveraged cable supplier badly needs.
Oscar Pistorius trial: Paralympian sick again after photographs of Reeva Steenkamp's body are shown in court
Tony Benn dead: Veteran Labour politician passes away at 88
Arrest made after man is found by the side of the road with his penis cut off
Malaysia flight MH370: Pitbull song lyrics bear uncanny resemblance to missing plane mystery, according to YouTubers
Missing Malaysia Airlines Flight MH370: Focus shifts west as Indian Ocean becomes latest search area for the aircraft and its passengers
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
No EU referendum under Labour: Ed Miliband to reveal that vote on membership is ‘unlikely’ in next Parliament if party wins power
Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
Europeans have ‘got whiter’ due to natural selection in past 5,000 years, scientists say
Fracking is turning the US into a bigger oil producer than Saudi Arabia
How climate change helped Genghis Khan: Scientists believe a sudden period of warmer weather allowed the Mongols to invade with such success
- 1 Tony Benn dead: Veteran Labour politician passes away at 88
- 2 Arrest made after man is found by the side of the road with his penis cut off
- 3 Tim Berners-Lee on creating the web: 'I never expected all these cats'
- 4 Gauthier Soho has ranted against 'food blaggers' - so can we really trust online reviews?
- 5 Malaysia flight MH370: Pitbull song lyrics bear uncanny resemblance to missing plane mystery, according to YouTubers
iJobs Money & Business
£35000 - £43000 per annum + Bonus and Benefits: Harrington Starr: A global lea...
£50000 - £60000 per annum: Harrington Starr: Linux Systems Administrator - UNI...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...