WHAT IS ICAHN UP TO?
Corporate raider Carl Icahn is expected to put up $1.5 billion of his own money in his effort to pressure Time Warner into spinning off its cable assets and focus on its movie studios, cable networks, and print divisions, published reports said today (Wednesday). The reports maintained that Icahn is attempting to recruit investors who would put up an additional $6.5 billion to buy a 10-percent stake in the media giant. Shares of Time Warner, which had barely fluctuated in recent months, shot up 2.58 percent on Tuesday, but began retreating in early trading today (Wednesday) after a New York Times report indicated that analysts are skeptical that Icahn will emerge with a tender offer and that all of the speculation may have been contrived to put pressure on Time Warner to sell its cable business. FORD TO SPONSOR SCREENINGS AT ARTHOUSE CHAIN Art-house chain Landmark Theaters, operated by Dallas Mavericks owner Mark Cuban’s 2929 Entertainment, has signed a deal with Ford Motor Company’s r
