RUMOR MILL
Back to Rumor Mill >
Friday, August 2, 2013

Sony to reject Loeb proposal, shares tumble

THE DEVIL & DANIEL LOEB: Sony’s US-traded shares sank 2.7% after Nikkei reported the company is poised to reject Daniel Loeb’s proposal for an IPO of Sony Music and Sony Pictures. The stock tumbled to $21.04, its lowest close in a month. The Sony board raised objections to the sell-off plan from Loeb’s Third Point hedge fund, according to the Nikkei story, which Bloomberg picked up. Meanwhile, Loeb and Yahoo CEO Marissa Mayer, whom he pushed to recruit, are not parting on good terms, the New York Post reports. Loeb, who stepped down from Yahoo’s board after unloading the bulk of his shares, clashed with Mayer over the company’s strategy, in particular cost-cutting, according to sources close to the board. Loeb wanted mass layoffs, while Mayer opted for minor trims. (8/2a)

 
BACK TO RUMOR MILL
 
HITS LIST BLASTS OFF
Space is the place for Tay. (4/26a)
Check It Out Now
SONG STREAMS: SWIFT SETS STREAMING RECORD
What did you expect? (4/26a)
Check It Out Now
SPRING BREAKOUTS: THESE HEATERS ARE STILL HOT
Who's Boomin who. (4/26a)
Check It Out Now
SONG REVENUE: “SWEET” SMELLS OF SUCCESS
Life after "Church" (4/26a)
Check It Out Now
STAGECOACH: SETS TO SEE AND PLACES TO BE
Saddle up, cowboys and cowgirls. (4/26a)
Check It Out Now
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

By clicking submit you are agreeing
to Terms and Conditions