February 8, 2011 |
Concert behemoth Live Nation Entertainment Inc. on Monday said it purchased the remaining shares of Front Line Management Group Inc. that it didn't already own for $116.2 million from Irving Azoff and Madison Square Garden. Founded in 2004, Front Line represents Christina Aguilera, Aerosmith, Jimmy Buffett and numerous other musicians. In addition, Azoff, chief executive of Front Line, becomes Live Nation's chairman, consolidating his power at the Beverly Hills entertainment giant, which last year merged with the country's largest ticket seller, Ticketmaster, in a deal worth $889 million.
May 5, 2009 |
In a move aimed at getting more control, satellite broadcaster DirecTV Group is merging with Liberty Entertainment, a programming arm of media mogul John Malone's Liberty Media Corp. The all-stock deal will put a handful of cable networks under DirecTV and give Malone a 24% voting stake in the company. The deal will make it easier for DirecTV to "pursue strategic initiatives," said Chase Carey, president and chief executive of the satellite programmer, which has 17.
October 23, 2012 |
Sirius XM Radio Inc. Chief Executive Mel Karmazin will resign from the satellite radio broadcaster on Feb. 1. The move was not unexpected. Liberty Media, the largest shareholder in SiriusXM, is in the process of taking control of the company and Karmazin had previously indicated he would likely leave as a result. Karmazin's contract with SiriusXM expires at the end of this year. He said he is staying on an additional month to ensure a smooth transition. He will also resign from the SiriusXM board.
January 22, 1998 |
In the face of its growing legal battle with the Justice Department and declining sales in Asia, Microsoft Corp. proved it still could produce stunning financial results, boosting income by 52% in the last quarter of 1997. "It was a super quarter," said Rick Sherlund, analyst at Goldman Sachs, a New York-based brokerage house. With profit of $1.13 billion or 85 cents a share, "they exceeded the Street's earnings estimates again," Sherlund said.
October 22, 1998 |
Major technology stocks rallied sharply on Wednesday, raising new hopes that the tech sector--one of the first industries to suffer from Asia's economic downturn in 1997--may be signaling that the worst of the fallout is over. IBM Corp. shares jumped $4.81 to $142.69--an all-time high--on the heels of the company's third-quarter earnings report on Tuesday, which was better than expected. Also, Microsoft Corp. surged $6.19 to $106.44 in the wake of its surprisingly strong earnings report.
October 22, 1996 |
Microsoft Corp. on Monday reported better-than-expected profit for the latest quarter as strong demand for its Windows operating systems and applications helped fuel record sales. The computer software giant, based in Redmond, Wash., said earnings rose 23% to a record $614 million, or 95 cents a share, in its fiscal first quarter ended Sept. 30. That is up from $499 million, or 78 cents a share, in the 1995 quarter. Revenue jumped 14% to $2.3 billion from $2.02 billion.
April 23, 1998 |
Microsoft Corp. on Wednesday reported a 28% increase in quarterly profit, beating Wall Street expectations, as revenue grew 18% amid strong sales of its business software. But the world's largest maker of personal computer software warned that revenue growth was its lowest in two years and was likely to slow further the rest of the year, dragged down in part by the Asian economic slump. Microsoft said it earned $1.
January 20, 1999 |
Beating analysts' estimates by a wide margin, Microsoft Corp. said fiscal second-quarter profit rose 75% on strong sales of its Office 97, Windows NT and other software. The world's largest software company said net income for the period ended Dec. 31 rose to a record $1.98 billion, or 73 cents a share, from $1.13 billion, or 42 cents, in the year-earlier period. The average analyst estimate was 59 cents a share, according to First Call Corp. Revenue rose 38% to a record $4.94 billion from $3.
March 11, 2008 |
Chief Executive Barry Diller ran IAC/InterActiveCorp as if he owned it and proposed a spinoff of key businesses to gain leverage in a potential asset swap, Liberty Media Corp. Chairman John Malone told a Delaware court Monday. Malone was the first witness to take the stand in the trial in Delaware Chancery court, where Internet conglomerate IAC and Liberty, its controlling shareholder, are battling over a proposed spinoff of four of New York-based IAC's largest business units, including its HSN home shopping network and Ticketmaster ticketing service.
December 7, 2006 |
Liberty Media Corp. and News Corp. are close to a deal that would give News Corp. Chairman Rupert Murdoch bulletproof control of his company but force him to give up a 39% stake in DirecTV Group Inc., people close to the situation said. Under the deal, Murdoch would trade his portion of DirecTV for Liberty's 19% interest in News Corp. The $12-billion stake is the largest after the Murdoch family's nearly 30% holdings.