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BUSINESS
March 20, 2012 | By Joe Flint, Los Angeles Times
It was a tense negotiation. Fox Sports and ESPN were paying about $54 million a year for the TV rights to Pac-12 Conference games. The Pac-12 guys wanted five times that. And a 12-year commitment. The networks were so taken aback that a top executive sarcastically asked if the Pac-12 was smoking something, according to people who witnessed the exchange but spoke on condition of anonymity because of the sensitive nature of the deal. But in the end, the two sides agreed to the biggest TV rights contract in college sports history — a 12-year, $3-billion deal, which works out to a per-year average of $250 million.
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BUSINESS
March 20, 2012 | By Joe Flint, Los Angeles Times
It was a tense negotiation. Fox Sports and ESPN were paying about $54 million a year for the TV rights to Pac-12 Conference games. The Pac-12 guys wanted five times that. And a 12-year commitment. The networks were so taken aback that a top executive sarcastically asked if the Pac-12 was smoking something, according to people who witnessed the exchange but spoke on condition of anonymity because of the sensitive nature of the deal. But in the end, the two sides agreed to the biggest TV rights contract in college sports history — a 12-year, $3-billion deal, which works out to a per-year average of $250 million.
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BUSINESS
July 7, 2009 | Times Wire Reports
Data storage company EMC Corp. boosted its offer for Data Domain Inc., which had accepted a lower bid from NetApp Inc. EMC's new offer of $33.50 a share in cash is $3.50 a share above its previous offer and values Data Domain at $2.1 billion. Santa Clara, Calif.-based Data Domain had accepted a sweetened bid of $30 a share in cash and stock from NetApp, which said its board would examine its options.
BUSINESS
November 15, 2010 | Reuters
EMC Corp., the biggest maker of corporate data storage equipment, plans to buy smaller rival Isilon Systems Inc for $2.25 billion as consolidation in the technology sector gains steam. Large, cash-rich technology companies like EMC are buying up smaller rivals as they position themselves for an economic recovery. Data storage companies have been among the hottest targets in the recent round of consolidation as they play a crucial role in "cloud computing" ? the use of technology to access remote computing power and data over the Internet.
BUSINESS
June 10, 1986
Sunnyvale-based Micro Mask Inc. appointed William E. Parker vice president and general manager of its EMC division in Azusa.
BUSINESS
March 11, 2008 | From Times Staff and Wire Reports
Iomega Corp., a San Diego maker of data-storage devices, rejected an unsolicited $178.1-million takeover offer by EMC Corp., saying it wasn't better than a pending deal with Great Wall Technology Co.
BUSINESS
August 10, 1999
EMC Corp., the world's No. 1 maker of corporate computer-storage systems, agreed to buy rival Data General Corp. for about $1 billion in stock to add products for mid-size businesses. The acquisition will help EMC boost sales to companies that want to do more business online but can't afford its top-of-the-line storage equipment. Hopkinton, Mass.-based EMC has about 35% of storage sales to big companies, though rivals including Dell Computer Corp. and Compaq Computer Corp.
BUSINESS
October 21, 2005 | From Bloomberg News
EMC Corp., the world's biggest maker of data-storage computers, agreed to buy Captiva Software Corp. to add products that convert paper documents to digital formats. EMC, based in Hopkinton, Mass., will pay $275 million, or $22.25 a share, for San Diego-based Captiva, the companies said.
BUSINESS
July 20, 2000 | Bloomberg News
All the data being generated in the information economy has to be managed by someone. EMC Corp.'s latest earnings indicate it's a prime beneficiary of that need. EMC, the No. 1 maker of corporate computer-storage systems, said Wednesday that second-quarter profit rose 50% as companies bought more of its equipment to run their Web sites and store data. Net income rose to $429 million, or 19 cents a share, from $285.9 million, or a split-adjusted 13 cents, a year earlier. Sales surged 30% to $2.
BUSINESS
December 16, 2003 | From Associated Press
Data storage company EMC Corp. said Monday that it would pay $635 million to buy VMware Inc., a Palo Alto company active in the field of "utility computing." VMware reportedly spurned an offer last year to be bought by Microsoft Corp. and was being closely watched as one of the tech companies most likely to go public in 2004. But that possibility was quashed with the announcement of EMC's agreement to buy VMware, which Hopkinton, Mass.
BUSINESS
July 9, 2009 | TIMES WIRE REPORTS
A bidding war over data storage company Data Domain is over, with EMC emerging as the victor. Data Domain Inc. said it had agreed to be acquired by EMC Corp. for $33.50 a share in cash, about $2.1 billion. The company ended its agreement to be acquired by NetApp Inc. and paid a $57-million breakup fee. NetApp said it had decided not to revise its buyout offer of $30 a share in cash and stock for Data Domain.
BUSINESS
March 11, 2008 | From Times Staff and Wire Reports
Iomega Corp., a San Diego maker of data-storage devices, rejected an unsolicited $178.1-million takeover offer by EMC Corp., saying it wasn't better than a pending deal with Great Wall Technology Co.
BUSINESS
January 23, 2008 | From Bloomberg News
EMC Corp., the world's biggest maker of storage computers, introduced Tuesday a service that lets companies back up information on their personal computers over the Internet. EMC is pushing into software and services and away from reliance on less-profitable storage computers to spur growth. Chief Executive Joseph Tucci has spent $8 billion buying software companies in the last four years. The service uses software from Berkeley Data Systems, which EMC bought in October.
BUSINESS
June 30, 2006 | From Bloomberg News
EMC Corp., the world's biggest maker of storage for computers, agreed to buy RSA Security Inc. for about $2.1 billion to expand its security software business. Shareholders of RSA, which is based in Bedford, Mass., would receive $28 a share in cash, Hopkinton, Mass.-based EMC said. That represents a 22% premium to the closing stock price Thursday.
BUSINESS
October 21, 2005 | From Bloomberg News
EMC Corp., the world's biggest maker of data-storage computers, agreed to buy Captiva Software Corp. to add products that convert paper documents to digital formats. EMC, based in Hopkinton, Mass., will pay $275 million, or $22.25 a share, for San Diego-based Captiva, the companies said.
BUSINESS
May 18, 2004 | From Bloomberg News
A Massachusetts jury Monday found that Hewlett-Packard Co.'s data-storage products infringed three EMC Corp. patents. EMC said it would seek a court order blocking future sales of Hewlett-Packard's OpenView Continuous Access Storage Appliance, company spokeswoman Anne Pace said. The verdict came after a two-week trial in Worcester, Mass. EMC sued closely held StorageApps Inc. in 2000, claiming the software used EMC's patented technology that makes mirror copies of data on systems.
BUSINESS
April 12, 2001 | From Reuters
EMC Corp., the leading maker of corporate data-storage systems, said Wednesday that it expects first-quarter earnings to miss expectations by 10% and revenue to fall in the mid-range of its previously lowered guidance because of the economic slowdown and customers' tighter information-technology budgets. The predicament also imperiled EMC's long-stated goal of generating revenue of $12 billion this year.
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