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.
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.
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.
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.