Word: warners
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Skype's Newest Duets Who's 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...
...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...
...market valued the whole of EMI at less than the value of its publishing division alone. "The mood was tense and increasingly dark," says Rose. "We were fearful of losing control of the company. It could have been snapped up on the cheap." A 2000 merger attempt with Warner Music was rejected by the E.U. as anticompetitive. But twice during the later lean years, the companies discussed a tie-up. (And now that their balance sheets are improving, merger speculation is rife again, though Levy says the two companies aren't in talks.) Levy and Rose still believed that...