Corporate finance

  1. Trans World Ent. To Hold 'Modified Dutch Auction'

    June 27, 2013 6:40 PM EDT Trans World Entertainment's board of directors has authorized the company to hold a "modified Dutch auction" tender offer for up to $25 million in value of its common stock. In the offer, which sets a minimum of $4.50 and a maxim ...

  2. SiriusXM CEO Karmazin Calls Internet Radio 'Race to the Bottom' on Earnings Call

    November 01, 2012 10:46 AM EDT Outgoing SiriusXM CEO Mel Karmazin slammed the business model behind personalized Internet radio services during an otherwise upbeat third-quarter earnings call Thursday. While advertising-based Internet radio company Pandora has yet to turn a pro ...

  3. Business Matters: Songza Lands Investments from Troy Carter, William Morris Endeavor, Others

    August 15, 2012 11:22 AM EDT Songza Lands Investments from Troy Carter, William Morris Endeavor, Others Internet radio service Songza announced some encouraging listener metrics Wednesday, but its new celebrity investors will probably get more attention. SXSWi Q&A: Songza ...

  4. Business Matters: Bono Will Make Maybe $10 Million, Not $1.5 Billion, From Facebook's IPO

    May 18, 2012 3:26 PM EDT Bono Will Make Millions -- But Not Billions -- Off Facebook's IPO Bono is rich but not as rich as you have been led to believe in the last few days. A report at NME.com , which was picked up by Spinner, Huffington Post and the New York Post ( ...

  5. Facebook Boosts IPO Shares By 25 Percent

    May 16, 2012 9:28 AM EDT NEW YORK (AP) -- Facebook says 25 percent more shares will be sold as investors clamor for shares in the year's hottest stock offering. Facebook said in a regulatory filing Wednesday that about 421 million shares will be sold, up from 337 mil ...

  6. Facebook IPO Aiming For May 17 (Report)

    April 19, 2012 2:30 PM EDT Ever since Facebook announced it would be filing for an IPO Feb. 1, speculation has been widespread as to when the company would officially go public. With reports stating the company was aiming for late May coming as far back as January , TechCru ...

  7. Australian Music Service Guvera to Hire Phil Quantararo Ahead of U.S. IPO

    March 29, 2012 4:14 PM EDT Guvera, the Australian-based music startup whose business model offers members the ability to stream and download music using an ad-supported interface, is making a big U.S. push, and they're hiring a big industry name in order to do it. The ...

  8. Report: Facebook May File For IPO Next Week, Could Raise $10 Billion

    January 27, 2012 4:05 PM EST LOS ANGELES (AP) - Facebook could file regulatory papers as early as Wednesday for its highly anticipated initial public offering of stock, according to a newspaper report. Facebook's expected launch as a publicly traded company is the most h ...

  9. Business Matters: Shrinking IPO Market Hurt Venture Capital in Q3

    October 11, 2011 8:15 PM EDT Shrinking IPO Market Hurt Venture Capital in Q3 -- Venture capital fundraising fell to an eight-year low in the third quarter, according to the National Venture Capital Association (NVCA). Firms raised $1.7 billion in the quarter, down sharply fro ...

  10. Warner Music Group Shareholders Approve Sale

    July 06, 2011 10:43 AM EDT Warner Music Group shareholders approved the $3.3 billion sale to Len Blavatnik's Access Industries at a special meeting of stockholders on Wednesday. Shareholders will receive $8.25 per share in cash at the closing of the transaction, which ...

  11. EMI Gears Up for 'Possible Sale' -- Read CEO Roger Faxon's Memo to Staff

    June 20, 2011 3:23 PM EDT EMI issued a statement on Monday saying that it has launched an effort to find a new owner, among other "strategic alternatives." The company's board "has initiated a process to explore and evaluate potential strategic alternat ...

  12. Pandora's Stock Retreats To Below IPO Price

    June 16, 2011 8:08 PM EDT Buyer's remorse already may be setting in for some investors in Internet radio station Pandora Media. After intense demand drove up the price for Pandora's initial public offering of stock, the shares plunged by as much as 11 percent dur ...

  13. Pandora Ends First Day of Public Trading Up Just 9%, But Worth More Than Live Nation, Warner Music Group

    June 15, 2011 5:38 PM EDT For a brief moment on the opening day of trading of Pandora's stock, the company had a market value of $4.2 billion - over three times that of Warner Music Group's current $1.28 billion market value. But after the company's shares r ...

  14. Music Companies: History Shows That a Successful IPO Does Not Guarantee a Good Investment

    June 15, 2011 12:12 PM EDT Today's IPO of Internet radio company Pandora is sure to put even more of a spotlight on digital music. The company raised its IPO price to $16 - it was originally slated to go between $9 and $11 - and it added another 1 million shares to the ...

  15. Pandora Shares Rise 50% In First Minutes of Trading After IPO

    June 15, 2011 10:56 AM EDT Shares of Pandora Media were up as much as 51% on their first morning of trading on the New York Stock Exchange. The successful IPO and subsequent rise in share prices means Pandora has become one of the most valuable music-related companies in th ...

  16. Business Matters: Pandora Thinks Its IPO Could Net It $33 Million

    June 03, 2011 3:14 PM EDT Pandora Thinks Its IPO Could Net It $33 Million Pandora is hoping its IPO will raise a total of about $141 million. If you've read about the IPO in the news, that's the number being used as the total amount of proceeds the company will r ...

  17. Access Reveals Its Warner Music Acquisition Financing Plan in Proxy Statement

    May 23, 2011 4:57 PM EDT Access Industries plans to finance its planned $3.3 billion acquisition of the Warner Music Group by putting up $1.118 billion in equity, obtaining $1.045 billion in bridge loans from Credit Suisse AG and UBS Loan Finance. It will ask the senior s ...

  18. Sale of Warner Music Group Means Less Financial Transparency in Music Business

    May 06, 2011 4:22 PM EDT While insiders don't expect many major operational changes stemming from Access Industries' acquisition of the Warner Music Group , the move certainly means less transparency in the music industry and the loss of the only publicly traded ...

  19. Warner Shares Reach 52-Week High as Acquisition Nears

    May 05, 2011 2:40 PM EDT Shares of Warner Music Group reached a 52-week high on Thursday upon news that Access Industries is nearing a deal to acquire the company. At midday trading on Thursday, shares stood at $7.83. Shares reached their 52-week high of $8.15 earlier in ...

  20. Live Nation Acquires Remaining Equity in Front Line, Azoff Named Chairman

    February 07, 2011 8:43 AM EST Live Nation Entertainment acquired substantially all of the remaining equity stake in Front Line Management Group, Inc. that it did not previously own for total consideration of $116.2 million in cash and stock, the company announced today. Additi ...

  21. Wall Street Lukewarm To Hulu IPO Plans

    August 17, 2010 12:00 AM EDT News that Hulu is talking to investment banks about an IPO that could value it at more than $2 billion is a mouth-watering prospect for bankers. After all, the last huge, true Hollywood IPO was that of DreamWorks Animation in 2004. But the news of ...

  22. Dimensional Completes Acquisition of The Orchard

    July 29, 2010 12:00 AM EDT Dimensional Associates announced on Thursday the completion of its acquisition of digital distributor The Orchard. The company entered into a merger agreement with Dimensional on March 16. At the time, Dimensional owned 42% of The Orchard's c ...

  23. Yahoo Rejects Microsoft Bid

    February 11, 2008 12:00 AM EST Yahoo Inc on Monday rejected Microsoft Corp's unsolicited $41.6 billion takeover offer as too low, forcing the software maker to either sweeten its bid or adopt a hostile approach to clinch a deal. Analysts say Microsoft will probably raise i ...

  24. Trans World CEO Makes Bid To Go Private

    November 09, 2007 12:00 AM EST In an apparent move to go private, Trans World chairman and CEO Robert J. Higgins has proposed paying $5 each for the outstanding publicly-traded shares of the 950-unit, Albany, N.Y.-based chain. The company's shares closed at $3.88 last nigh ...

  25. Private Equity Firm Seen In Chrysalis Radio Talks

    June 13, 2007 12:00 AM EDT Media company Chrysalis Group is in talks with an unnamed private equity group over the sale of its radio unit, a source familiar with the situation told Reuters on Wednesday. Chrysalis said in February it had launched a strategic review that coul ...

  26. Eagle Rock Buys Back HG Interest

    May 14, 2007 12:00 AM EDT U.K.-based Eagle Rock Group Ltd. management, aided by private equity firm Beringea and edel Music AG, has bought back the company from HG Capital, which had a 68% interest in the company since 2001. Terms of the deal were not disclosed. Eagle Rock ...

  27. Radius Equity Out Of Tower Records Bidding

    October 05, 2006 12:00 AM EDT Trans World considered favorite. Radius Equity— considered the "white knight" in the bidding for Tower Records —failed to put together financing in time for the Chapter 11 auction of the troubled chain. The auction began today in the off ...

  28. Handleman Q4 Profits Down

    July 03, 2006 12:00 AM EDT Drop in gross margin, product returns blamed. Drop in gross margin, product returns blamed. News ...

  29. Report: EMI Lines Up BMG Publishing Buy

    June 26, 2006 12:00 AM EDT Stock rises on private equity news. Stock rises on private equity news. News ...

  30. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  31. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  32. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  33. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  34. Napster Launches Limited Free Service

    May 01, 2006 12:00 AM EDT Company's shares jumped on news. Company's shares jumped on news. News ...

  35. Warner Prefers To Return Cash Via Dividends

    December 06, 2005 12:00 AM EST Warner Music Group Corp. views an increase in the company's dividend as a preferred way to pay cash back to shareholders as opposed to paying down debt or buying back shares, a senior executive said o Warner Music Group Corp. views an increas ...

  36. Clear Channel To Issue CCE Spinco Dividend

    December 05, 2005 12:00 AM EST Distributed around Dec. 21. Clear Channel Communications will execute its spin-off of CCE Spinco by distributing the CCE shares in a dividend around Dec. 21, pending clearance by U.S. securities regulators. Clear Channel shareholders on December 1 ...

  37. Not For Sale: Sanctuary Taken Off The Market

    October 04, 2005 12:00 AM EDT Troubled U.K.-based music indie Sanctuary group took down its for sale sign Sept. 26 with a statement to the London Stock Exchange in which it said the company intended to cut costs and rebuild instea LONDON (The Hollywood Reporter) -- Troubled U. ...

  38. Warner Music's Losses Widen In Q3

    August 04, 2005 12:00 AM EDT Company incurs IPO-related charges, revenues up. Company incurs IPO-related charges, revenues up. News ...

  39. Warner Gets 'Buy' Rating

    July 07, 2005 12:00 AM EDT Deutsche Bank Securities, an underwriter in the recent Warner Music Group IPO, has issued a buy rating on major label’s stock. In a July 6 research note to investors, analyst Douglas Mitchelson said Deutsche Bank Securities, an underwriter in the ...

  40. WMG Stock Ends Second Day Down 1.8%

    May 12, 2005 12:00 AM EDT Warner Music Group stock fell another 1.8% in its second day of trading, closing at $16.10 today (May 12). The stock is down 90 cents from the $17 price tag it carried when it issued its IPO. Warner Music Group stock fell another 1.8% in its secon ...

  41. Update: WMG Stock Ends First Day Down 3.5%

    May 11, 2005 12:00 AM EDT Shares in Warner Music Group ended the first day of trading today (May 11) on the New York Stock Exchange down 3.5% at $16.40, following a $554.2 million initial public offering at $17 a share. Shares in Warner Music Group ended the first day of t ...

  42. Warner Music IPO Opens Below Asking Price

    May 11, 2005 12:00 AM EDT Shares in Warner Music Group stumbled out of the gates this morning following the company's initial public offering of 32.6 million shares at $17 a share. After opening at $16.60 the stock, which is t Shares in Warner Music Group stumbled out ...

  43. Warner Music IPO Opens Below Asking Price

    May 11, 2005 12:00 AM EDT Shares in Warner Music Group stumbled out of the gates this morning following the company’s initial public offering of 32.6 million shares at $17 a share. After opening at $16.60 the stock, which is Shares in Warner Music Group stumbled out of the ...

  44. Warner Music Trims Price Of IPO

    May 10, 2005 12:00 AM EDT Trading expected to begin Wednesday. Just hours ahead of the expected pricing of its initial public offering, Warner Music Group is reportedly trimming the price of the deal. Additionally, its investors are said to be scrapping plans to sell some ...

  45. Musicrypt Completes Stock Sale

    April 21, 2005 12:00 AM EDT Media distributor goes for $0.40 a share. Canadian media distributor Musicrypt Inc. completed a stock sale today (April 21) of 7.5 million units at a price of $0.40 per unit (Canadian) for gross proceeds of $3 million. Each unit is comprised of on ...

  46. WMG Sets IPO Price Range

    April 19, 2005 12:00 AM EDT Warner Music Group has set a price range of $22-$24 for its upcoming initial public offering. NEW YORK -- Warner Music Group has set a price range of $22-$24 for its upcoming initial public offering. The company says in a filing with the Securitie ...

  47. WMG Sets IPO Price Range

    April 18, 2005 12:00 AM EDT Shares to be set at $22-$24. Warner Music Group has set a price range of $22-$24 for its upcoming initial public offering. The company says in a filing with the SEC that it intends to offer 27.17 million shares to the public. In addition, WMG' ...

  48. WMG Eyes $581M From IPO

    April 12, 2005 12:00 AM EDT Warner Music Group says in a filing with the Securities and Exchange Commission that it expects to receive net proceeds of $581 million, after deducting expenses associated with its upcoming $750 mill NEW YORK -- Warner Music Group says in a filin ...

  49. WMG Eyes $581M From IPO

    April 08, 2005 12:00 AM EDT Most proceeds will pay debt, owners. Warner Music Group says in a filing with the Securities and Exchange Commission that it expects to receive net proceeds of $581 million after deducting expenses associated with its upcoming $750 million initial ...

  50. Warner Music Files For $750M IPO

    March 15, 2005 12:00 AM EST Warner Music Group Corp., parent company of Warner Music Group, filed registration papers with the Securities and Exchange Commission on March 11 proposing to raise up to $750 million in an initial pu (Reuters) -- Warner Music Group Corp., parent ...

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