Newspaper wrap-up 3-23-07: XM hit with lawsuit
Posted Mar 23rd 2007 9:33AM by Eric Buscemi
Filed under: Newspapers, Magazines, Internet, Google (GOOG), General Electric (GE), XM Satellite Radio (XMSR), Hershey Co (HSY), Goldman Sachs Group (GS)
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MAJOR PAPERS:
- The Wall Street Journal reported that XM Satellite Radio Holdings Inc (NASDAQ: XMSR) is being sued by members of the National Music Publishers Association over XM receivers with the XM+MP3 service, which allows listeners to store songs they hear on XM onto their players. The suit is charging XM with "unlawfully reproducing and distributing copyrighted music without paying appropriate royalties."
- The Wall Street Journal speculated that the most plausible course of action for Cadbury Schweppes ADS (NYSE: CSG) confectionery operations would be a merger with Hershey Company (NYSE: HSY), which the article said would be "tasty for investors."
- General Electric Company (NYSE: GE) said it would launch a $1.14B takeover bid for leasing firm Sanyo Electric Credit, marking a potential windfall for major shareholder Goldman Sachs Group Inc (NYSE: GS). Sanyo Credit agreed to the offer which will run from Monday to May 9, reported the Financial Times.
OTHER PAPERS:
- According to India's Economic Times, Google Inc (NASDAQ: GOOG) is open to acquiring Indian technology companies with "interesting technologies." The company already said it would invest in two Indian early stage venture capital funds last month.
- The Economic Times also reported that Tata Group is in talks about buying a stake in Deutsche Telekom ADS's (NYSE: DT) business unit, T-Systems, citing a report from German business weekly Focus Online.
Tags: cadbury, csg, deutsche telekom, DeutscheTelekom, dt, economic times, EconomicTimes, financial times, FinancialTimes, ft, ge, general electric, GeneralElectric, goldman sachs, GoldmanSachs, goog, google, gs, hershey, hsy, newspaper, paper, periodical, schweppes, tata, wall street journal, WallStreetJournal, wsj, xm, xm satellite radio, XmSatelliteRadio, xmsr
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