On Tuesday, Liberty Global plc - Class A Ordinary Shares (NASDAQ:LBTYA)’s shares declined -0.05% to $55.96.
Liberty Global plc - Class A Ordinary Shares (LBTYA) declared that, following regulatory approval, it has consummated its formerly declared acquisition of 100% of the parent of Puerto Rico Cable Acquisition Company Inc., dba Choice Cable TV (“Choice”), the second largest cable and broadband services provider in Puerto Rico. The combination of Choice’s operations with those of Liberty Cablevision of Puerto Rico LLC (“LCPR”), which is 60% owned by Liberty Global and 40% owned by funds managed by Searchlight Capital Partners, L.P., creates the largest cable operator on the island with over one million homes passed1, serving about 750,000 revenue generating units (“RGUs)1 and generating over $390 million of annual revenue.
As formerly revealed, the purchase price of about $272.5 million before transaction costs and other adjustments represents a multiple of about 6 times our estimate of Choice’s 2015 full-year operating cash flow, as customarily defined by Liberty Global and adjusted for the projected annual impact of synergies following full integration. The transaction was largely funded through incremental debt borrowings of about $267.5 million at the combined Puerto Rican business, and equity contributions from Liberty Global and Searchlight of $10.2 million and $6.8 million, respectively.
Liberty Global’s 60% ownership interest in Choice will be attributed to the “LiLAC Group”, which will track the performance of Liberty Global’s operations in Latin America and the Caribbean.
Liberty Global plc, together with its auxiliaries, provides video, broadband Internet, fixed-line telephony, and mobile services in Europe, Chile, Puerto Rico, and internationally. The company offers various residential services, counting video services comprising basic and premium programming, which can be viewed on the television and Internet connected devices; electronic programming guide, high definition (HD) channels, digital video recorder (DVR), and HD DVR services; video-on-demand, set-top boxes, pay-per-view programming, and programming in three-dimensional format services, in addition to television applications that allow access to programming on laptops, smartphones, and tablets; and entertainment, sports, movies, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels.
Lions Gate Entertainment Corp. (USA) (NYSE:LGF)’s shares gained 1.96% to $37.46.
Lions Gate Entertainment Corp. (USA) (LGF) a premier next generation global content leader, declared recently that its Board of Directors has declared another quarterly cash dividend of seven cents ($0.07) per common share. The dividend is payable on August 7, 2015 to shareholders of record as of June 30, 2015.
Lions Gate Entertainment Corp. engages in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, channel platforms, and international distribution and sales activities. The company operates through two segments, Motion Pictures and Television Production. The Motion Pictures segment is involved in the development and production of feature films; acquisition of North American and worldwide distribution rights; North American theatrical, home entertainment, and television distribution of feature films produced and attained; and worldwide licensing of distribution rights to feature films produced and attained.
At the end of Tuesday’s trade, Lexington Realty Trust (NYSE:LXP)‘s shares surged 0.67% to $8.98.
Lexington Realty Trust (LXP) declared that it declared a regular common share/unit dividend/distribution for the quarter ending June 30, 2015 of $0.17 per common share/unit payable on or about July 15, 2015 to common shareholders/unitholders of record as of June 30, 2015.
Lexington also declared that it declared a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock (“Series C Preferred Shares”) for the quarter ending June 30, 2015. This Series C Preferred Share dividend is payable on or about August 17, 2015, to shareholders of record of Series C Preferred Shares as of July 31, 2015.
Lexington Corporate Properties Trust operates as a self-managed and self-administered real estate investment trust (REIT). The company acquires, owns, and manages a portfolio of office, industrial, and retail properties net-leased to corporate tenants in the United States.
Hartford Financial Services Group Inc (NYSE:HIG), ended its Tuesday’s trading session with 0.67% gain, and closed at $42.03.
Hartford Financial Services Group Inc (HIG) has launched a new professional liability insurance offering to assist protect small businesses in the event they are sued by a customer claiming a negligent act, or error or omission in the professional services they provide.
This new endorsement to The Hartford’s Business Owner’s Policy expands the number of industries The Hartford can protect with a professional liability endorsement to more than 30. The industry-focused coverage can be customized to meet the unique needs of small businesses such as accountants, graphic designers and consultants.1 By offering professional liability insurance as an endorsement, agents and small business owners will have the convenience of working with one policy and one bill.
The Hartford Financial Services Group, Inc., through its auxiliaries, provides insurance and financial services to individual and business customers primarily in the United States. The company’s Commercial Lines segment offers workers compensation, property, automobile, marine, umbrella, liability, and livestock coverage’s, in addition to customized insurance products and risk administration services, counting professional liability, bond, and specialty casualty coverage.
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