HJ Heinz Co.’s longtime leader Bill Johnson stood in the Veranda ballroom at the Four Seasons Hotel San Francisco, addressing the ketchup maker’s top 50 executives for the last time. Around the corner in a smaller room, his successor as chief executive officer, Bernardo Hees, waited to tell some of the same managers whether they still had jobs.
Rupert Murdoch, who began building his media empire 60 years ago, is relishing the chance “to do it all over again” with his newly streamlined publishing company that has $2.6 billion in cash to fuel acquisitions.
The cost to protect debt issued by Expedia Inc. surged after the biggest online travel agency by revenue said it will split into two businesses, giving investors a chance to own shares in its fast-growing TripAdvisor unit.
Bonds of Clearwire Corp., the company Standard & Poor’s says will run out of cash in 2012, are approaching levels consistent with an impending default as partner Sprint Nextel Corp. strikes a deal with a competitor.
Dish Network Corp. has amassed a record amount of cash through bond sales as the second-largest U.S. satellite-television provider seeks to expand into the wireless business to offset a decline in its core customer base.
Oracle Corp ., the world’s second- largest software maker, sold $3.25 billion of bonds in two parts in its first offering in more than a year and the biggest debt sale by a nonfinancial borrower in 13 weeks.
Viacom Inc. , the owner of MTV Networks and the Paramount Pictures film studio, will start paying a dividend for the first time and buy back as much as $4 billion in stock as the advertising market recovers.