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Blockbuster’s landlords want to evict the bankrupt movie rental chain from dozens of stores if they are not immediately paid past-due rent, adding to the company’s woes in Chapter 11.
Blockbuster is already facing demands from the film studio behind the hit “Twilight” vampire series that it pay its bills or liquidate. Get the full story »
From Bloomberg News | Activist investor Carl Icahn is loading up on shares of Clorox, his most recent investment, after the shares of some of his other investments have declined in value. According to Bloomberg data, Motorola Inc. and Lions Gate Entertainment Corp. are worth less now than when Icahn’s stakes in the companies were first disclosed.
Motorola unveiled Wednesday its board of directors for Motorola Solutions, one of the two new companies that will result from a planned split in January.
The separation is scheduled for Jan. 4, 2011. On that date, Motorola will spin off Motorola Mobility, a company led by current co-Chief Executive Sanjay Jha that will focus on mobile devices and television set-top boxes. The remaining company, headed by co-CEO Greg Brown, will become Motorola Solutions and trade on the New York Stock Exchange under the ticker symbol “MSI.” Motorola Solutions will make communications equipment and software for public safety, government and industrial sectors. Get the full story »
Billionaire investor Carl Icahn said he would vote against Blackstone Group’s proposal to buy Dynegy Inc. and would offer a $2 billion line of credit to the struggling power company.
Icahn and hedge fund Seneca Capital, Dynegy’s two largest shareholders, believe Blackstone’s $543 million bid for the company is too low, threatening the deal. Seneca has argued that the company would have more value on its own, but Dynegy has said it could face dire financial problems. Get the full story »
