Word: warners
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...story says a lot about what Icahn's latest target, media giant Time Warner (which publishes TIME), is up against as the renowned Wall Street maverick pushes the company to boost its stock price, stalled at about $18. Icahn's prescription is strong (and expensive) medicine: a $20 billion stock buyback and the spin-off of its vast cable operations. Icahn, the Princeton University philosophy major from Queens, N.Y., who staked his earliest ventures with money he won playing poker in the Army, loves taking on the big boys. He won't be bluffed--and he often wins...
...taking on Time Warner CEO Richard Parsons, with his company's vast array of media properties, including CNN, HBO, America Online, Warner Bros. and New Line Cinema, and a current market value of $85 billion, Icahn has chosen his biggest mark yet. Time Warner has been struggling since the disastrous merger in 2000 with AOL, which sent the company's share price plummeting. An Icahn-led group picked up 2.6% of the company, and "a boatload of hedge funds and other short-term players are sitting in the stock," said Patrick McGurn, special counsel at Institutional Shareholder Services, which advises...
Cronenberg, a born-and-bred Canadian, looks at these questions without the didacticism and detachment of Lars Von Trier’s “Dogville,” Warner Herzog’s “Grizzly Man,” or Wim Wender’s upcoming “Don’t Come Knocking”—all recent examinations of America’s culture of violence and masculinity from foreign-born directors...
...just get to see, mostly from a distance, things going through awful adaptations. Books of Magic -Warner has done seven scripts on that, and it's now got to the point where my only response is, why don't you just change the lead character's name and not call it Books of Magic? You've now created something that that will do nothing but irritate anyone who thinks they're going to see a Books of Magic movie. But it's probably a perfectly decent movie, so just take the name...
...search races and would love to get AOL to replace its Google search engine with Microsoft's. The AOL unit could fetch as much as $20 billion on the market, and spinning off a piece in a joint venture with Microsoft would ease the pressure on Time Warner's Parsons to generate higher returns for shareholders. There's no word yet on a prenup. --By Daren Fonda