Time Warner (TWX) announced the details of its plan to slim down its magazine division. The company will sell 18 smaller titles in a deal expected to raise $300 million, according to an article in today’s Wall Street Journal. The big titles, including Time, Sports Illustrated and People, are staying put. The article quotes Anne […]
New York Times (NYT) announced that it is selling its TV station group. The group contains nine stations that management says will produce $43 million in earnings before interest, taxes, depreciation and amortization (EBITDA) in 2006. Recent transactions in TV have been around 13x EBITDA, potentially creating proceeds of $560 million. In the past, management […]
Sears Holding (SHLD) announced that it is increasing its share repurchase authorization by $500 million. About $118 million remains on the prior $1.5 billion authorization. So far, the company has repurchased 11 million shares at an average price of $126.14. As of August 29, the company had 154 million shares outstanding. At current prices, the […]
Tuesday’s rumor has it that Eddie Lampert is putting Sears Holding (SHLD) cash to work buying Home Depot (HD) shares. SHLD traded up on the news, and the stock has now recovered pretty much all the losses immediately post earnings. Those losses were due to either fears that (1) the share buyback would slow and […]
Overall, the Apple Computer (AAPL) announcements were in line with my expectations. I almost got right the new wireless device that will get the video you download to iTunes over to your TV: It’s not a MacMini; it’s just half the size. This product, due in the first quarter of 2007, is probably the most […]
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