Spin-Off

Time Warner to Spin Off AOL Dec. 9 With $3.5 B Valuation

Authored by Mark Hefflinger on November 17, 2009 - 11:39am.

Dulles, Va. - Media giant Time Warner (NYSE: TWX) announced on Monday that it plans to spinoff its AOL unit on Dec. 9. Shareholders of Time Warner will be given one share of AOL stock for every 11 shares of Time Warner they own. Time Warner said in a statement that the spinoff "will result in the complete legal and structural separation of the two companies." After the transaction, AOL will have a market value of about $3.5 billion, based on current share prices.

Report: AOL Aims for Mid-December Spin-Out from Time Warner

Authored by Mark Hefflinger on October 30, 2009 - 7:06am.

Dulles, Va. - Following months of preparations, AOL plans to complete its spin-off from parent Time Warner (NYSE: TWX) in mid-December, Silicon Alley Insider reported. The blog cited three separate sources, including an AOL insider involved in the planning, while qualifying that an exact date hasn't yet been announced internally.

tags: Deals | AOL | Time Warner | Spin-Off |

AOL on Track to Spin Out This Year; Revenue Continues Tumble

Authored by Mark Hefflinger on July 30, 2009 - 10:37am.

Dulles, Va. - Time Warner (NYSE: TWX) CEO Jeff Bewkes reiterated on Wednesday that the media giant is on track to spin off its AOL unit around the end of this year.

Cablevision to Spin-Off Madison Square Garden, Sports Teams

Authored by Mark Hefflinger on July 30, 2009 - 9:02am.

Bethpage, N.Y. - Cable TV provider Cablevision (NYSE: CVC) announced on Thursday that its board of directors has authorized its plan to spin-off its Madison Square Garden business to stockholders by the end of the year.

ABC to Produce "Lost" Spin-Off Episodes for Mobile Phones

Authored by Mark Hefflinger on November 18, 2005 - 3:25am.

Los Angeles - The producers of the ABC TV drama "Lost" plan to offer a spin-off of the show, "Lost Video Diaries," that will be distributed exclusively to video-capable cell phones early next year, according to The Hollywood Reporter. "Lost" executive producers Damon Lindelof and Carlton Cuse will handle production of 20 "mobisodes," set to begin shooting next month, without involvement from ABC or Touchstone Television. The spin-off will introduce two new characters not featured in the TV series. While no carrier partner has been announced, Verizon this week began offering several mobile applications based on content from "Lost" and ABC's "Desperate Housewives." ABC also recently began selling 99-cent full episodes of the two series for download to iPods, PCs and other devices, through Apple's iTunes Store.

WSJ: Time Warner Mulled AOL Spin-Off, But Plans to Stand Pat

Authored by Mark Hefflinger on May 20, 2005 - 7:11am.

Ashburn, Va. -- At its annual shareholders meeting on Friday, media giant Time Warner said that while it has kicked around plans to spin off America Online, the company has deemed such a move "unnecessary at this point in time," The Wall Street Journal reported. "Right now AOL is currently integrated into our operations. But if it gets to the point where consolidation is happening in the Internet space and, in order to play most efficiently, we need our own currency, the possibility [of an IPO] is out there," Dick Parsons, the company's chairman and CEO, told shareholders. Parsons said that while Time Warner's acquisition of AOL "may not have worked out" exactly how he thought, he reiterated that the unit is a key part of Time Warner.

tags: AOL | WSJ | Time Warner | Spin-Off |

Sony Sets $719 Price Tag for "PSX" PlayStation 2 Spin-off in Japan

Authored by Mark Hefflinger on October 8, 2003 - 4:52am.

Makuhari, Japan -- Sony Corp. announced that it will begin selling the PSX, a PlayStation 2 equipped with a satellite TV tuner, DVD recorder and hard drive, later this year in Japan with a $719 price tag. Although the company plans to launch the PSX in the U.S. and Europe sometime early next year, Sony has not announced pricing details for those regions. The $719 model features a 160GB hard drive capable of storing 204 hours of TV programs; Sony will also offer a 250GB model for about $911. "There is the game industry and game development and we are trying to fuse the consumer electronics business with games to make a new growth area," Sony CEO Nobuyuki Idei told Reuters.

Sony to Unveil "PSX" PlayStation 2 Spinoff in Japan Next Week

Authored by Mark Hefflinger on October 3, 2003 - 5:13am.

Tokyo -- Sony announced that it will unveil its "PSX," a new all-in-one product featuring a PlayStation 2, TV tuner, DVD recorder and hard drive, at the CEATEC Japan 2003 trade show next week, Reuters reported. The company has said it plans to release the PSX in Japan by the end of the year, and in the U.S. and Europe early next year.