Word: warner
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Dates: during 2000-2009
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...about alienating the United Arab Emirates (Dubai is one of the seven emirates), given that it has been a recent but important convert to the Administration's campaign against terrorism. "Totally in bed" is how a senior intelligence official characterized the U.A.E.'s relationship with the U.S.; Senator John Warner, chairman of the Armed Services Committee, says, "The U.A.E. is a vital, I repeat, a vital ally...
...that girl crooning from your PC? Why, Madonna, of course. She is just one of the musical heavyweights you will find on Internet phone-service provider Skype these days. Earlier this month, Skype, owned by eBay since October, partnered with Warner Music in a deal that lets Skype dip into the label's expansive catalog to offer ringtones to its 74 million users, adding to its premium services--which generate most of Skype's revenues. The Material Girl, Green Day and Mike Jones are headlining Skype and Warner's landmark debut into the $1.2 billion ringtone industry. In fact...
Patience is not always the best tactic for corporate chieftains to use when they are fighting those who wish to oust them, but it seems to have worked for Time Warner chairman Richard Parsons in his battle against Carl Icahn. In August, Icahn and a group of investors launched a bid to split up the Time Warner media empire (which includes Time Inc., publisher of this magazine). But Icahn could not win the support of key shareholders, who balked at his plan to oust Parsons and install a new slate of directors as a precursor to a company breakup. Parsons...
Icahn and Parsons agreed to a settlement in which Icahn dropped his assault and Parsons made certain concessions. Time Warner pledged to buy back $20 billion in stock, up from $12.5 billion. It promised to cut costs by an additional $500 million in 2007 and agreed to add two independent directors to the board--after consulting with Icahn about the candidates. Icahn's investor group still controls 3.3% of the stock, and he isn't likely to go away soon, so Parsons made other concessions, including a promise to review the findings of a report issued by Icahn's investment...
...nothing else, both sides managed to save face after months of accusations and mounting acrimony. Just 10 days before the truce, Icahn, at a glitzy press conference in New York City, had defiantly called Parsons out, accusing him, among other things, of selling Warner Music at a fire-sale price and being too slow to find a growth plan for the AOL unit. Time Warner execs insisted that their strategies with Warner Music and AOL were appropriate under the circumstances...