Time Inc., the publisher of the namesake magazine whose first issue ran in 1923, is seeking a type of loan typically issued to investors that buy junk-rated debt as it prepares to be spun off from its parent.
Time Inc., the magazine unit soon to be spun off from Time Warner Inc., is considering leaving the Time & Life Building on New York’s Avenue of the Americas and moving its offices to lower Manhattan, three people with knowledge of the company’s plans said.
News Corp. investors seeking to curb Chairman and Chief Executive Officer Rupert Murdoch’s authority will use tomorrow’s annual meeting to press for reform, looking to persuade a board they can’t force to act.
Rupert Murdoch’s News Corp., rocked by a phone-hacking scandal at one of its London newspapers, may face questions about computer hacking too, according to a British lawmaker at the company’s annual meeting today.
News Corp. Chairman and Chief Executive Officer Rupert Murdoch was stepping onto an elevator at the Allen & Co. media gathering in Sun Valley, Idaho, last year, when he was asked about a $1.1 million settlement his company had just paid. The money went to resolve a claim that reporters at a News Corp. newspaper in London had illegally listened to the voicemail messages of a British sports official.
Rajat Gupta, the former Goldman Sachs Group Inc. director, can proceed with a suit claiming the U.S. Securities and Exchange Commission violated his rights when it filed an administrative action accusing him of passing illegal stock tips.
Viacom Inc. Chairman Sumner Redstone, taking aim at media rival Rupert Murdoch, chastised the News Corp. chairman for investing in newspapers and said the “ink” industry will be out of business in two years.