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Newspaper wrap-up 4-10-07: Time Warner sells Bookspan to Bertelsmann

Posted Apr 10th 2007 9:18AM by Eric Buscemi
Filed under: Newspapers, Magazines, Internet, Time Warner (TWX), Berkshire Hathaway (BRK.A), Citigroup Inc. (C), Bristol-Myers Squibb (BMY), Dow Jones and Co (DJ)

MAJOR PAPERS:

The Wall Street Journal reported that Time Warner Inc's (NYSE: TWX) Time Inc. has sold its interest in Bookspan, a book club, to Bertelsmann for about $150M.
According to the Financial Times, citing sources, Imperial Tobacco Group plc (NYSE: ITY) raised its bid for French and Spanish tobacco company Altadis SA to EUR47 per share from a previous bid of EUR45 per share. Bloomberg reported that Altadis rejected the sweetened takeover bid.

OTHER PAPERS:

The Telegraph reported that Dow Jones and Company Inc (NYSE: DJ), the publisher of the Wall Street Journal, is understood to be in advanced talks to buy the London-based Financial News newspaper for about GBP27M, with a deal possibly being announced within days.
Sanofi-Aventis ADS (NYSE: SNY) and Bristol-Myers Squibb Company (NYSE: BMY) have put there merger negotiations on hold due to a number of obstacles that are stalling the process, the French newspaper Les Echos reported.
Cablevision Systems Corporation (NYSE: CVC) said it will appeal a court ruling over its digital video recording service, the New York Times reported, citing the Associated Press.
The New York Times also reported that Citigroup Inc (NYSE: C) may cut nearly 8% of its work force or around 26,000 jobs.

WEBSITES:

Barron's Online's "Inside Scoop" column reported that Warren Buffett has disclosed that his investment company, Berkshire Hathaway (NYSE: BRK.A), now owns a 10.9% stake Burlington Northern Santa Fe Corporation (NYSE: BNI), according to SEC filings.

Tags: altadis, barron's, barrons, berkshire hathaway, BerkshireHathaway, bertelsmann, bloomberg, bmy, bni, bristol-myers, burlington northern santa fe, BurlingtonNorthernSantaFe, c, cablevision, citigroup, cvc, dj, dow jones, DowJones, financial news, financial times, FinancialNews, FinancialTimes, ft, imperial tobacco, ImperialTobacco, ity, les echos, LesEchos, new york times, newspaper, NewYorkTimes, ny times, nyt, NyTimes, paper, periodical, sanofi, sny, telegraph, time warner, TimeWarner, twx, wall street journal, WallStreetJournal, warren buffett, WarrenBuffett, wsj

Indexes	Change	Price
DJIA	+72.81	12,874.04
NASDAQ	+27.51	2,931.39
S&P 500	+9.13	1,351.77

Last updated: February 13, 2012: 04:46 PM

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