Key Developments: Time Warner Inc (TWX.N)

TWX.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Rupert Murdoch said to have made offer for Time Warner- The New York Times
Tuesday, 15 Jul 2014 08:00pm EDT 

Time Warner Inc:21st Century Fox, run by Rupert Murdoch, made an $80 billion takeover bid for Time Warner Inc. but was rebuffed - The New York Times.21st Century Fox approached Time Warner in early June.21st Century Fox delivered a formal takeover proposal worth $85 in stock and cash for each Time Warner share.Bid amounted to a roughly 25 pct premium to Time Warner’s stock price.21st Century Fox indicated it would pay 60 pct of the price in stock and 40 pct in cash.Time Warner’s board discussed the proposal at length, the people briefed said, and early this month it sent a terse letter rejecting the offer, saying the company was better off remaining independent.  Full Article

Time Warner Inc completes spin-off of Time Inc
Monday, 9 Jun 2014 09:12am EDT 

Time Warner Inc:Completes spin-off of Time Inc from Time Warner.Distributed all outstanding shares of Time Inc. common stock to Time Warner shareholders at a distribution ratio of one share of Time Inc common stock for every eight shares of Time Warner common stock held on the May 23 record date.  Full Article

Time Warner Inc prices $2.0 billion debt offering
Tuesday, 20 May 2014 08:05pm EDT 

Time Warner Inc:Has priced a $650 million underwritten public offering of 2.10 pct senior notes due 2019 at a price equal to 99.948 pct of their face amount.A $750 million underwritten public offering of 3.55 pct senior notes due 2024 at a price equal to 99.908 pct of their face amount and a $600 million underwritten public offering of 4.65 pct debentures due 2044 at a price equal to 98.930 pct of their face amount.The net proceeds from the issuance of the notes and debentures will be used for general corporate purposes, including share repurchases.The sale of the notes and debentures is expected to close on May 28.The notes and debentures will be issued by Time Warner and guaranteed by Historic TW Inc.In addition, Home Box Office, Inc. and Turner Broadcasting System, Inc will guarantee the obligations of Historic TW Inc.  Full Article

Time Warner Inc announces proposed debt offering
Tuesday, 20 May 2014 08:53am EDT 

Time Warner Inc:Commenced an underwritten public offering of debt securities consisting of senior notes due 2019, senior notes due 2024 and senior debentures due 2044, each of benchmark size.Net proceeds from issuance of notes and debentures will be used for general corporate purposes, including share repurchases.Notes and debentures will be issued by Time Warner and guaranteed by Historic TW Inc.In addition, Home Box Office, Inc and Turner Broadcasting System, Inc. will guarantee obligations of Historic TW Inc.Offering is being made pursuant to an effective registration statement on Form S-3 filed with the Securities and Exchange Commission.BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are active joint book-running managers.  Full Article

Time Warner raises FY 2014 EPS guidance
Wednesday, 30 Apr 2014 07:01am EDT 

Time Warner Inc:Updates FY 2014 business outlook.FY 2014 full-year business outlook excludes results of Time Inc. for the current and prior years.Expects FY 2014 full-year percentage growth rate in adjusted diluted income per common share from continuing operations (Adjusted EPS) excluding Time Inc. to be in the low teens off a FY 2013 Adjusted EPS excluding Time Inc. base of $3.51.FY 2014 EPS of $3.94 - Thomson Reuters I/B/E/S.  Full Article

Time Warner Inc declares regular quarterly cash dividend
Wednesday, 30 Apr 2014 06:59am EDT 

Time Warner Inc:Declares regular quarterly cash dividend of $0.3175 per share of Common Stock.Payable in cash on June 15 to stockholders of record on May 31.  Full Article

Time Warner Inc issues FY 2014 EPS guidance
Wednesday, 5 Feb 2014 06:01am EST 

Time Warner Inc:Says its fiscal 2014 business outlook excludes the results of Time Inc. for the current and prior years.Expects fiscal 2014 percentage growth rate in adjusted diluted income per common share from continuing operations (adjusted EPS) excluding Time Inc. to be in the low double digits off a 2013 adjusted EPS base excluding Time Inc. of $3.51.  Full Article

Time Warner Inc raises cash dividend by 10 pct; declares regular quarterly cash dividend
Wednesday, 5 Feb 2014 06:00am EST 

Time Warner Inc:Approves a ten percent increase in the company's regular quarterly cash dividend. On an annual basis, Time Warner's regular cash dividend on its Common Stock will grow from $1.15 per share to $1.27 per share.Declares a regular quarterly cash dividend of $0.3175 per share on its Common Stock, payable in cash on Mar. 15, 2014 to stockholders of record on Feb. 28, 2014.  Full Article

Time Warner Inc's Time Inc CEO restructures ahead of spin-off; layoffs ahead - Reuters
Tuesday, 4 Feb 2014 12:42pm EST 

Time Warner Inc:Time Inc Chief Executive Officer Joe Ripp is reorganizing the structure of the magazine publisher and consolidating oversight as it prepares to spin off from its corporate parent Time Warner, according to a memo to staff on Feb. 04 - Reuters.Time Inc is eliminating three operating units - sports and news, lifestyle and entertainment - that divided its stable of titles such as U.S. magazines Sports Illustrated and People.The company also plans to cut about 500 positions globally, or roughly 6 pct of its workforce.The move to reorganize the publisher's six-year-old structure comes as Time Inc integrates American Express Publishing, which it bought last year, and prepares to separate from Time Warner Inc this year.  Full Article

GIC Pte Ltd, partners to buy $1.3 bln Time Warner Inc's office space-Reuters
Friday, 17 Jan 2014 12:33am EST 

Time Warner Inc:GIC Pte Ltd is partnering a group of investors to buy $1.3 billion worth of Manhattan office space from Time Warner Inc, as the sovereign wealth fund steps up its purchases of real estate where it sees increasing value-Reuters.The consortium will lease the office space until early 2019 to Time Warner, which is moving all its business units from HBO to CNN under one roof at the Hudson Yards development to save money.  Full Article

AMC Networks wants stake in BBC America: source

- AMC Networks Inc , a U.S. media company that owns cable channels, is in talks to buy a stake in BBC America, BBC Worldwide’s U.S. channel, a source familiar with the matter told Reuters.

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