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)
HIPGNOSIS BOARD APPROVES UPPED BLACKSTONE BID
But it ain't over till it's over. (4/29a)
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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!
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JAMES KING: THE HITS INTERVIEW (PART ONE)
