June 25, 2013 |
Sprint shareholders approved a $21.6-billion acquisition by SoftBank on Tuesday, bringing an end to the takeover drama involving Dish Network Corp., which had also made a play for the No. 3 U.S. carrier. About 98% of shareholders voted to approve the deal, which will pay them either $7.65 per share for the stock they now hold, or give the same number of shares of new Sprint common stock. The deal will give SoftBank 78% ownership of Sprint. “The transaction with SoftBank should enhance Sprint's long-term value and competitive position by creating a company with greater financial flexibility," Sprint Chief Executive Dan Hesse said in a statement . PHOTOS: The 10 biggest tech gadget fails Sprint said it expects the Federal Communications Commission to approve the deal early next month.
September 25, 2013 |
Local bureaucracy seems to have gotten the upper hand on a white-supremacist's plot to take over a small town in North Dakota. Paul Craig Cobb, 61, made headlines after news broke of his secret plot to amass white supremacists in Leith, N.D., and win control of the hamlet by buying up property and winning local elections. But now Cobb's home in Leith could be condemned after he failed to submit plans for sewage and running water to the county government, according to the Bismarck Tribune.
April 27, 2014 |
PCM Inc., an El Segundo company that sells information technology products and services, has attracted little attention in more than a quarter-century of business. But that soon may change. The owner of a competing company has starting snapping up PCM's stock, raising speculation of a possible takeover. Firoz Lalji, chairman of technology company Zones Inc. in Auburn, Wash., now owns about 5% of PCM, according to a regulatory filing. And he called PCM "one of the poorest-performing companies in its industry.
September 12, 2012 |
Sirius XM Radio Inc. Chief Executive Mel Karmazin said he would likely leave the company when Liberty Media takes control of the satellite radio broadcaster. Liberty, the largest shareholder in SiriusXM, currently holds just under 50% of the stock and has already told the Federal Communications Commission that it plans to acquire more than that and would like the regulatory agency to approve it as the outright owner when that happens. Speaking at the Merrill Lynch Media, Communications and Entertainment Conference in Beverly Hills on Wednesday, Karmazin said he is willing to talk about staying but added, "If I were Liberty I would say, 'I'm not sure we need Mel.'" Karmazin's contract with SiriusXM is up at the end of the year.
June 9, 2013 |
Can we talk? Joan Rivers is celebrating her 80th birthday Saturday. And the outspoken Rivers will be marking the occasion all next week in her usual take-no-prisoners fashion: She's taking over the E! network. Starting Monday and continuing through the week, Rivers will be all over the network, from extra daily episodes of her weekly "Fashion Police" series to special appearences on several E! shows and on the network's website. The celebration will culminate with a special hourlong birthday-themed edition of "Fashion Police" on Friday at 10 p.m. where the participants will be attired in formalwear.
June 26, 2013 |
Japanese telecom giant SoftBank Corp. got shareholder approval for its mammoth takeover of Sprint Nextel Corp., giving America's No. 3 wireless carrier ammunition to take on industry leaders Verizon Wireless and AT&T. The $21.6-billion deal for a majority stake in Sprint is expected to enable the company to speed up the rollout of its high-speed 4G LTE service in new markets around the country. That should help it attract new customers, analysts said. "This is exactly what Sprint needs," said Jeff Kagan, a technology industry analyst.