Media Digest 6/24/2006
Stocks: (VZ)(UNV)(TV)(HD)(BMY)(TWX)(CMCSA)(GM)
According to the New York Times, a federal appeals courts said that the SEC lacks the authority to treat investors in hedge funds as "clients", handing the hedge fund industry a victory in its efforts to avoid regulation. The lower courts ruling would have required the funds to register with the SEC.
The NY Times writes that Verizon will cease its airline telephone service and focus on its broadband, cellular and TV businesses.
The Times also reports that Televisa has bid $12 billion for rival television company Univision.
The Times also writes that the SEC has begun an informal inquiry into its stock option grants practices.
The Wall Street Journal reports that Bristol-Myers arrangement with Apotex to end the smaller company's patent challenge to the drug Plavix was rejected by state attorneys general, probably forcing the drug giant to fashion a new proposal of settlement.
The WSJ also reports that TimeWarner and Comcast have agreed on revised terms to buy the assets of bankrupt cable company Adelphia. Earlier deals had run afoul of concerns on the part of Adelphia's creditors.
Reuters reports that emails have surfaced indicating that AOL chief Steve Case knew about aggressive tactics employed by the company's business development units to make revenue targets ahead of its 2001 merger with TimeWarner.
Reuters also writes that GM plans zero percent financing on most of its 2006 models and some of its 2007 SUVs.
Douglas A. McIntyre
According to the New York Times, a federal appeals courts said that the SEC lacks the authority to treat investors in hedge funds as "clients", handing the hedge fund industry a victory in its efforts to avoid regulation. The lower courts ruling would have required the funds to register with the SEC.
The NY Times writes that Verizon will cease its airline telephone service and focus on its broadband, cellular and TV businesses.
The Times also reports that Televisa has bid $12 billion for rival television company Univision.
The Times also writes that the SEC has begun an informal inquiry into its stock option grants practices.
The Wall Street Journal reports that Bristol-Myers arrangement with Apotex to end the smaller company's patent challenge to the drug Plavix was rejected by state attorneys general, probably forcing the drug giant to fashion a new proposal of settlement.
The WSJ also reports that TimeWarner and Comcast have agreed on revised terms to buy the assets of bankrupt cable company Adelphia. Earlier deals had run afoul of concerns on the part of Adelphia's creditors.
Reuters reports that emails have surfaced indicating that AOL chief Steve Case knew about aggressive tactics employed by the company's business development units to make revenue targets ahead of its 2001 merger with TimeWarner.
Reuters also writes that GM plans zero percent financing on most of its 2006 models and some of its 2007 SUVs.
Douglas A. McIntyre
posted by douglas mcintyre at 7:00 AM
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