Netflix Users’ Objections and 4 Media Titans Making Waves

AOL, Inc. (NYSE:AOL) shares saw a boost of over 3 percent following the company’s statements that it would pay a special $1.1 billion dividend in December and spend $600 million to repurchase shares. Many more companies could follow this lead ahead of a possible dividend tax hike next year. However, investors should not expect all of these announcements to result in share-price gains. The shares traded up $0.13 (0.39%) recently at $33.76.

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Netflix, Inc. (NASDAQ:NFLX) has had several subscribers file objections to a court decision regarding a privacy act complaining that the proposed $9 million class-action settlement allows little for those who were allegedly wronged. In February, a Northern California court found that the Los Gatos, California-based streaming pioneer violated provisions of the 1988 Video Privacy Protection Act which disallows video rental services via accessing subscriber information up to two years following cancelation. Nearly 50 subscribers reportedly have filed formal objections to the court complaining that the settlement awards over $2 million to lawyers involved in the case, about $30,000 to each of the initial six plaintiffs, and not much left for anyone else. The complaints claim that the lack of financial remuneration undermines the validity of the case and render it little more than an unneeded lawsuit that benefits lawyers. The shares traded up $0.54 (0.86%) recently at $63.49.

Time Warner Cable Inc. (NYSE:TWC) is targeting data-guzzling businesses in New York with itsnewest push in fiber optic build-out. When completed, the service should provide speeds of up to 1 gigabit per second. “This what Time Warner Cable should have done five years ago, but it didn’t have to because there wasn’t enough competition,” stated analyst Jeff Kagan. The shares traded up $0.03 (0.03%) recently at $89.35.

News Corp. (NASDAQ:NWSA): Police are now targeting Rupert Murdoch’s flagship paper, The Times, for the first time during the continuing investigation of journalistic misconduct at News Corp. properties with the arrest of a former Times reporter concerning alleged computer hacking, the Financial Times reports. The shares traded up $0.12 (0.52%) recently at $23.40.

SIRIUS XM Radio Inc. (NASDAQ:SIRI): Liberty Media (NASDAQ:LMCA) revealed last night that it purchase a total of 40.5 million Sirius XM shares between August 24 and August 28. Currently, Liberty Media owns 497.33 million shares of Sirius XM, which represents a 48.8 percent stake. The shares traded flat recently at $2.53.

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