Media Digest 6/28/2006
Stocks: (WMG)(GS)(DCX)(F)(NWS)(PCW)(VG)(BCS)(MS)(RMBS)(TTWO)(NT)
Reuters reports that EMI Group PLC, the music company, turned down an offer from Warner Music of $4.6 billion, saying the offer was inadequate.
A group lead by Australia's Macquarie Bank said it may make a bid for Associated British Ports, which is being bought by a Goldman Sach's lead group, according to Reuters.
Reuters writes that Ford, GM, and Chrysler vehilces emit 230 million metric tons of the greenhouse gas carbon dioxide in the U.S. which is more than any electric utility.
Reuters writes that News Corp has joined Macquarie Bank's bid for PCCW phone and media assets with an offer price of $7.3 billion.
The Wall Street Journal reports that Vonage is about to release a product that will allow customers to plug a phone into a PC for VoIP use.
The WSJ also reports that GM will report poor sales in June and July. The auto company will also offer zero percent financing on some vehicles. The news caused GM's stock to drop sharply.
The WSJ says that two lawsuits have charged several large brokers such as Morgan Stanley, Bearn Stearns, and Goldman Sachs of doing "naked shorting" for hedge fund clients. The action involves selling shares short without borrowing them.
The WSJ also reports that Rambus says that a board review has found improper dating of options awards.
The New York Times reports that shares of Take-Two, the video game company, dropped as much as 15% amid a criminal probe of the company's business practices.
The NY Times also reports that Nortel will cut 1,100 employees in an effort to strenthen the company's financial position.
Douglas A. McIntyre
Reuters reports that EMI Group PLC, the music company, turned down an offer from Warner Music of $4.6 billion, saying the offer was inadequate.
A group lead by Australia's Macquarie Bank said it may make a bid for Associated British Ports, which is being bought by a Goldman Sach's lead group, according to Reuters.
Reuters writes that Ford, GM, and Chrysler vehilces emit 230 million metric tons of the greenhouse gas carbon dioxide in the U.S. which is more than any electric utility.
Reuters writes that News Corp has joined Macquarie Bank's bid for PCCW phone and media assets with an offer price of $7.3 billion.
The Wall Street Journal reports that Vonage is about to release a product that will allow customers to plug a phone into a PC for VoIP use.
The WSJ also reports that GM will report poor sales in June and July. The auto company will also offer zero percent financing on some vehicles. The news caused GM's stock to drop sharply.
The WSJ says that two lawsuits have charged several large brokers such as Morgan Stanley, Bearn Stearns, and Goldman Sachs of doing "naked shorting" for hedge fund clients. The action involves selling shares short without borrowing them.
The WSJ also reports that Rambus says that a board review has found improper dating of options awards.
The New York Times reports that shares of Take-Two, the video game company, dropped as much as 15% amid a criminal probe of the company's business practices.
The NY Times also reports that Nortel will cut 1,100 employees in an effort to strenthen the company's financial position.
Douglas A. McIntyre
posted by douglas mcintyre at 4:44 AM
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