CBS, Interactive Television Settle Copyright Dispute and 4 Media Titans Making Waves
CBS Corporation (NYSE:CBS): CBS Television Distribution, a division of CBS Studios, and Interactive Television and Gaming, formerly known as ComStar Media, announced that they have reached an amicable settlement of their copyright and contract litigation involving the television shows: “My Three Sons,” “Happy Days,” “Family Ties,” and “Early Edition.” The financial terms are confidential.
Dish Network Corp. (NASDAQ:DISH): According to a report from late last night, Dish Network Corp. and Cablevision (NYSE:CVC) may be meeting to settle the $2.4 billion lawsuit over Cablevision’s Voom TV service and could be close to a deal in which Dish could pay Cablevision a settlement of $200 million-$1 billion.
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News Corp. (NASDAQ:NWSA): News Corp. managed to avoid rowdy protests at their annual shareholders meeting Tuesday, but that did not stop stockholders from voicing complaints about the grip on the company, held by founder and Chief Executive Officer Rupert Murdoch and his family. Despite the opposition, the News Corp. board said that the three shareholder proposals, to dilute the Murdochs’ control, were defeated by a majority of voting shares. Only Class B shareholders could vote and the Murdoch family controls nearly 40% of them. That means they have a dominant say in the operations of the company which owns media properties such as Fox News Channel and The Wall Street Journal, even though their stake amounts to 13% of outstanding shares. Some shareholders said they were upset at the lack of management accountability for the British phone hacking scandal that erupted last year and registered significant protest votes.
Viacom, Inc. (NYSE:VIA): According to The Los Angeles Times, “Paranormal Activity 4,” distributed by Viacom Inc.’s Paramount Pictures unit, is expected to easily win the weekend’s box office.
SIRIUS XM Radio Inc. (NASDAQ:SIRI): According to The Wall Street Journal, the Federal Communications Commission unanimously approved a plan that would resolve a long-standing interference issue between AT&T (NYSE:T) and Sirius XM Radio Inc. This ruling will allow AT&T to expand their high-speed LTE network.
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