On Monday, Shares of CBS Corporation (NYSE:CBS), lost -0.19% to $48.55.
CBS Corporation, declared that Joseph Ianniello, Chief Operating Officer, will take part in a question-and-answer session at the Wells Fargo Securities Technology, Media & Telecom Conference in New York on Wednesday, November 11, 2015.
CBS Corporation operates as a mass media company worldwide. It operates through four segments: Entertainment, Cable Networks, Publishing, and Local Broadcasting. The Entertainment segment distributes a plan of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and distributes programming, counting series, specials, news, and public affairs; operates online content networks for information and entertainment; and produces, acquires, and distributes theatrical motion pictures.
Shares of First Data Corp (NYSE:FDC), inclined 2.22% to $17.46, during its last trading session.
First Data Corporation, declared that it has priced an offering of $1.0 billion aggregate principal amount of 5.000% senior secured first lien notes due 2024 and $2.2 billion aggregate principal amount of 5.750% senior secured second lien notes due 2024. The offering is predictable to close on November 25, 2015, subject to customary closing conditions.
First Data intends to use the proceeds from the offering of the Notes to redeem all outstanding amount of its 8.75% senior secured second lien notes due 2022 and all outstanding amount of its 8.25% senior secured second lien notes due 2021, and to pay any applicable premiums and related fees and expenses. The offering of the Notes is part of a refinancing transaction that comprises replacing First Data’s $1.5 billion senior secured term loan facility due March 2017 with incremental term loans of $1.25 billion and €200 million (estimated at $223 million equivalent) issued under its existing senior secured term loan facility due July 2022.
The refinancing declared recently is predictable to result in an additional reduction of annualized interest expense of $72 million over and above interest savings resulting from the debt principal paydowns executed with the proceeds of the initial public offering and the debt refinancing related to the issuance of $3.4 billion aggregate principal amount of 7.000% senior notes due 2023 that was declared last week. Upon consummation of these transactions, First Data will not have any noteworthy debt maturities until March 2018.
First Data Corporation provides electronic commerce and payment solutions for merchants, financial institutions, and card issuers worldwide. The company’s Merchant Solutions segment offers merchant acquiring services that facilitate the merchants ability to accept credit, debit, stored-value, and loyalty cards; and processing services comprising authorization, transaction capture, settlement, chargeback handling, and Internet-based transaction processing.
Finally, Shares of Twenty-First Century Fox Inc (NASDAQ:FOX), ended its last trade with -1.26% loss, and closed at $29.70.
Twenty-First Century Fox, stated financial results for the three months ended September 30, 2015.
The Company stated total quarterly revenues of $6.08 billion, a decrease of $406 million, or 6%, from the $6.48 billion of adjusted revenues stated in the preceding year. This decline in adjusted revenues was primarily the result of a 7% revenue improvement at the Cable Network Programming segment due to higher associate and advertising revenues being more than offset by lower revenues generated at the Filmed Entertainment segment due to lower theatrical revenues and the absence of revenues from Shine in the current quarter. The adverse impact of foreign exchange rates and the absence of revenues from Shine in the current quarter each influenced adjusted revenue growth by about $200 million, or 6% in total.
Quarterly total segment operating income before depreciation and amortization (“OIBDA”)(2) of $1.54 billion reduced $37 million, or 2%, from the $1.57 billion of adjusted OIBDA(3) stated in the preceding year. This decline in adjusted OIBDA reflects double-digit growth at both the Company’s Cable Network Programming and Television segments which was more than offset by reduced contributions from the Filmed Entertainment segment. The adverse impact of foreign exchange rates influenced adjusted OIBDA growth by $109 million, or 7%.
The Company stated quarterly income from ongoing operations attributable to stockholders of $678 million ($0.34 per share), contrast with $1.04 billion ($0.48 per share) in the preceding year. Not Taking Into Account the net income effects of Other, net and gains and other adjustments related to Sky and Endemol Shine Group comprised in Equity earnings from associates, adjusted quarterly earnings per share(4) from ongoing operations attributable to stockholders was $0.38 contrast with the adjusted year-ago result of $0.39.
Twenty-First Century Fox, Inc. operates as a diversified media and entertainment company worldwide. It operates through Cable Network Programming; Television; Filmed Entertainment; and Other, Corporate and Eliminations segments.