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Carl Icahn

Motorola to Split Into Two Companies Next Year

Authored by Mark Hefflinger on March 26, 2008 - 1:01pm.

Schaumberg, Ill. - Motorola (NYSE: MOT) announced plans on Wednesday to split into two publicly-traded companies next year, one for its mobile device business and another for its broadband and mobility solutions. "Creating two industry-leading companies will provide improved flexibility, more tailored capital structures, and increased management focus - as well as more targeted investment opportunities for our shareholders," said Greg Brown, Motorola's president and CEO.

tags: Deals | Mobile | Motorola | Carl Icahn | Cellphones |

Motricity Raises $185 Million, Acquires InfoSpace Unit

Authored by Mark Hefflinger on January 3, 2008 - 8:04am.

Durham, N.C. - Motricity, a provider of mobile content services, announced that it has raised $185 million in a round of venture capital, which was led by Advanced Equities, Carl Icahn and New Enterprise Associates.

tags: Deals | Mobile | VC | Acquisitions | Infospace | Motricity | Carl Icahn | New Enterprise Associates | Advanced Equities |

Motricity Acquires InfoSpace Mobile Unit for $135 Million

Authored by Mark Hefflinger on October 15, 2007 - 8:35am.
Motricity logo

Durham, N.C. - Motricity, a provider of mobile content publishing and delivery services, announced on Monday that it will acquire the mobile services business of InfoSpace for about $135 million in cash.

tags: Deals | Mobile | Acquisitions | Infospace | Motricity | Carl Icahn | Cellphones | Advanced Equities |

WSJ: Carl Icahn Giving Up Battle for Control of Time Warner

Authored by Mark Hefflinger on February 17, 2006 - 7:30am.
Dulles, Va. - Billionaire financier Carl Icahn has ended his battle to gain control of AOL-parent Time Warner, and is now in talks with the media giant about a potential settlement, The Wall Street Journal reported on Friday. Icahn, whose group owns about 6% of Time Warner, had been seeking to gain control of the company's board with the goal of breaking it into four separate companies to increase its value to shareholders. But Icahn, who has been unable to gain much traction with other large shareholders, on Thursday backed down from his original goal by nominating only five candidates for the board, which has 14 seats. "Many shareholders want change on the board, but they feel a full slate would be disruptive," Icahn told the Journal "I agree it's disruptive, which is why we're cutting down the slate."
tags: WSJ | Time Warner | Battle | Control | Carl Icahn |

Frank Biondi Joins Carl Icahn in Time Warner Proxy Fight

Authored by Mark Hefflinger on January 31, 2006 - 7:22am.
Dulles, Va. - Frank Biondi, the former CEO of Viacom, has joined billionaire Carl Icahn in a proxy fight for control of media giant Time Warner, with the intention of forcing a sale or spin off of the company's America Online unit, Icahn's group said. Biondi would serve as Time Warner's CEO, if the group manages to gain control of the company’s board of directors. A report from the investment bank Lazard, commissioned by Icahn and expected to be released next week, will provide a detailed plan of how Time Warner could be restructured to maximize the company's business prospects and share price, Icahn said. The plan will include separating Time Warner's component businesses and significantly reducing corporate overhead.
tags: Time Warner | Carl Icahn | Frank Biondi | Proxy | Fight |

Carl Icahn Expected to Unveil Plans for Improving Time Warner

Authored by Mark Hefflinger on August 12, 2005 - 9:55am.
Dulles, Va. -- Billionaire financier Carl Icahn was expected as early as Friday to unveil his plans for improving the performance of media giant Time Warner, with a portion of his strategy possibly including the sale of the company's cable, publishing and America Online units, The Los Angeles Times reported. Icahn, who owns less than 1% of Time Warner, is reportedly teaming with several hedge funds that together own more than 5% of the company. The Times reported that Icahn is expected to recommend that the company expand its stock buyback plan by $10 billion to $20 billion, as well as dramatically reduce its expenses.
tags: Time Warner | Carl Icahn | Unveil Plans |