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| Sony rejects Loeb's proposal to spin off entertainment unit Monday, Aug 05, 2013 08:26 PM PDT  By Mari Saito TOKYO (Reuters) - Japan's Sony Corp on Tuesday rejected a proposal from activist shareholder Daniel Loeb to spin off part of its entertainment business, arguing it could still squeeze synergies from its marriage of content and hardware while promising greater disclosure. Sony's decision could end a three-month effort by Loeb's Third Point LLC hedge fund to convince the company to sell as much as a fifth of its money-making entertainment arm - movies, TV and music - to free up cash to revive the electronics business. ... Full Story | Top |
| Amazon's Bezos to buy the Washington Post for $250 million Monday, Aug 05, 2013 08:10 PM PDT  By Jennifer Saba (Reuters) - Amazon.com Inc founder Jeff Bezos will buy the Washington Post newspaper for $250 million in a surprise deal that ends the Graham family's 80 years of ownership and hands one of the country's most influential publications to the businessman whose Internet company has transformed retailing. Bezos, hailed by many as technology visionary, called his acquisition a personal endeavor and reassured employees and readers of the 135-year-old newspaper he will preserve its journalistic tradition, while driving innovation. ... Full Story | Top |
| Sony falls after it rejects Loeb's entertainment spin-off proposal Monday, Aug 05, 2013 07:37 PM PDT TOKYO (Reuters) - Shares in Sony Corp dropped 3 percent to 2,073 yen ($21.03) on Tuesday after the Japanese consumer electronics firm rejected proposals from activist shareholder Daniel Loeb to spin off a part of its entertainment business. ($1 = 98.5900 Japanese yen) (Reporting by Dominic Lau; Editing by Paul Tait) Full Story | Top |
| Factbox: A look inside the Washington Post Co businesses Monday, Aug 05, 2013 04:55 PM PDT NEW YORK (Reuters) - Amazon.com Inc. founder Jeff Bezos announced Monday that he had agreed to purchase the Washington Post newspaper and some other papers owned by the Washington Post Co for $250 million. The education and media company's flagship daily is only a small part of its operations: Market cap: $4.2 billion. Revenue (2012): $4.02 billion. Revenue growth year-over-year (2012): -4. ... Full Story | Top |
| Sony rejects Third Point's proposal to spin off entertainment unit Monday, Aug 05, 2013 04:54 PM PDT  TOKYO (Reuters) - Japan's Sony Corp rejected on Tuesday a proposal from activist shareholder Daniel Loeb to spin off a part of the electronics company's entertainment business. Loeb's Third Point LLC hedge fund proposed in May that Sony sell as much as a fifth of its money-making entertainment arm -- movies, TV and music -- to free up cash to revive the electronics business. ... Full Story | Top |
| Time Warner Cable offers unconventional deal to end CBS blackout Monday, Aug 05, 2013 04:47 PM PDT  By Liana B. Baker and Sinead Carew (Reuters) - Time Warner Cable Inc Chief Executive Glenn Britt sent a letter to CBS Corp CEO Les Moonves on Monday offering a controversial new proposal to end the blackout of CBS shows in large TV markets including New York and Los Angeles. Britt proposed selling CBS to customers as a single channel on an "a la carte" basis, an idea dismissed by CBS as a "sham." The exchange was the latest development in a contentious public battle between the No. 1 rated U.S. broadcast network and the No. ... Full Story | Top |
| Sony board votes to keep entertainment unit, rejects Loeb proposal Monday, Aug 05, 2013 04:22 PM PDT  (Reuters) - Sony Corp's board voted unanimously not to sell its entertainment unit, rejecting a proposal from hedge fund manager Daniel Loeb, the company said in a statement on Monday. Sony sent a letter to Loeb's Third Point LLC giving the result of the vote, saying the board believed that "continuing to own 100 percent of the company's entertainment businesses is fundamental to Sony's success." (Reporting by Lisa Richwine) Full Story | Top |
| Timeline: Notable events in Washington Post history Monday, Aug 05, 2013 04:21 PM PDT NEW YORK (Reuters) - Amazon.com Inc founder Jeff Bezos announced on Monday that he has agreed to buy the newspapers owned by The Washington Post Co for $250 million. Here are some notable events in the history of the company since the founding of its flagship daily in 1877: 1933 - Financier and former chairman of the Federal Reserve Eugene Meyer buys the Washington Post at a bankruptcy auction. His daughter, Katharine Graham, would go on to lead the company through its coverage of the Watergate scandal. 1946 - Philip L. ... Full Story | Top |
| Amazon founder Bezos to buy the Washington Post Monday, Aug 05, 2013 03:36 PM PDT  By Jennifer Saba (Reuters) - Amazon.com Inc founder Jeff Bezos will buy the Washington Post newspaper for $250 million in a surprise deal that ends the Graham family's 80-year ownership and hands one of the country's most influential publications to the tech entrepreneur. Bezos, hailed by many as a visionary who helped transform Internet retail, called his acquisition a personal endeavor and reassured Post employees and readers he will preserve the paper's journalistic tradition, while driving innovation. ... Full Story | Top |
| Toshiba, SanDisk to build about $4 billion flash memory plant: Nikkei Monday, Aug 05, 2013 11:22 AM PDT  (Reuters) - Toshiba Corp plans to build a memory chip production factory with a total investment of 400 billion yen (about $4 billion) with SanDisk Corp , the Nikkei reported. Toshiba plans to make chips of 16-17 nanometers circuit line width at the new plant to gain an edge over Samsung Electronics Co by making more chips from a single silicon wafer, the business paper said. The chips made at the factory now have a width of 19nm. ... Full Story | Top |
| Panasonic to stop making new smartphones for NTT Docomo: Kyodo Monday, Aug 05, 2013 10:02 AM PDT  (Reuters) - Panasonic Corp has told NTT Docomo Inc it would stop supplying new smartphone models from this winter, Kyodo news service said, citing sources familiar with the matter. Panasonic said in July that its mobile phone sales decreased sharply in the April-June quarter due partly to NTT Docomo's adoption of a new marketing strategy offering bigger discounts for smartphones made by Sony and Samsung, the two most popular models in Docomo's handset lineup. ... Full Story | Top |
| App connects bike owners with renters Monday, Aug 05, 2013 03:03 AM PDT By Natasha Baker TORONTO (Reuters) - As the bicycle makes a major comeback in cities across the globe, a new app is making sure that no bike collects dust in a garage. Cyclists in more than 500 cities worldwide have access to rentals thanks to the growing popularity of city bike sharing services that provide convenient and affordable access to bicycles, according to the environmental group Earth Policy Institute. But a new iPhone app called Spinlister is aiming to connect bicycle owners with people who want to rent different types of bicycles and for longer periods of time. ... Full Story | Top |
| South Korea says concerned about U.S. decision on some Apple models Sunday, Aug 04, 2013 11:07 PM PDT  SEOUL (Reuters) - The South Korean government on Monday expressed concerns about the decision by the United States to overrule a sales ban of some Apple Inc models. The Obama administration vetoed a U.S. trade panel's ban on the import and sale of some older iPhones and iPads, reversing a ruling that had favored South Korea's Samsung Electronics Co Ltd over Apple in their long-running patent battle. The move was vehemently criticized by the South Korean media as "protectionism. ... Full Story | Top |
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