On Wednesday, Shares of Twenty-First Century Fox Inc (NASDAQ:FOXA), gained 4.57% to $26.98.
Twenty-First Century Fox declared recently that its Board of Directors has nominated Jeffrey W. Ubben, Founder, Chief Executive Officer and Chief Investment Officer of ValueAct Capital, for election to the Company’s Board at the Annual Meeting of Stockholders to be held in 2015. With the nomination of Mr. Ubben, the Company would expand its Board from 12 to 13 directors.
Rupert Murdoch and Lachlan Murdoch, Executive Chairmen of 21st Century Fox, said, “Jeff will bring to our Board a great perspective as a global investor and a shared belief in building long-term value for shareholders. Our Board and senior administration team have developed a highly-valued relationship with Jeff and we are happy he has accepted the Board’s invitation to stand for election.”
In conjunction with Mr. Ubben’s nomination, 21st Century Fox and ValueAct Capital have reached a contract regarding ValueAct Capital’s ongoing ownership of shares in the Company. A copy of the agreement will be comprised as an exhibit to the Current Report on Form 8-K that 21st Century Fox will file recently with the Securities and Exchange Commission.
Twenty-First Century Fox, Inc. is a global media and entertainment company. The Company’s Cable Network Programming segment consists of the production and licensing of programming distributed primarily through cable television systems, direct broadcast satellite operators, telecommunication companies and online video distributors.
Shares of NVIDIA Corporation (NASDAQ:NVDA), inclined 3.92% to $24.64, during its last trading session.
NVIDIA Corporation declared that Microsoft will offer NVIDIA® GPU-enabled professional graphics applications and accelerated computing capabilities to customers worldwide through its cloud platform, Microsoft Azure.
Deploying the latest version of NVIDIA GRID™ in its new N-Series virtual machine offering, Azure is the first cloud computing platform to provide NVIDIA GRID 2.0 virtualized graphics for enterprise customers.
For the first time, businesses will have the ability to deploy NVIDIA Quadro®-grade professional graphics applications and accelerated computing on-premises, in the cloud through Azure, or via a hybrid of the two using both Windows and Linux virtual machines. Azure will also offer customers supercomputing-class performance, with the addition of the NVIDIA Tesla® Accelerated Computing Platform’s flagship Tesla K80 GPU accelerators, for the most computationally demanding data center and high performance computing (HPC) applications.
NVIDIA Corporation (NVIDIA) is engaged in visual computing, enabling individuals to interact with digital ideas, data and entertainment. The Company is engaged in creating NVIDIA-branded products and services, offering its processors to original equipment manufacturers (OEMs), and licensing its intellectual property.
Shares of J C Penney Company Inc (NYSE:JCP), inclined 2.09% to $9.29, during its last trading session.
J C Penney Company declared that John Tighe has been promoted to executive vice president, chief merchant effective Oct. 1, reporting to the Company`s Chief Executive Officer Marvin Ellison. Tighe most recently served as senior vice president and senior general merchandise manager for the men`s, children`s, footwear, handbag and intimate apparel divisions. He will succeed Elizabeth “Liz” Sweney who will serve in an advisory role through the end of the fiscal year, at which time she will retire from the Company after 16 years of service.
Tighe began his 24-year retail career at May Department Stores in a series of merchandising roles that spanned more than a decade at Filene`s and Meier & Frank. JCPenney recruited Tighe as a buyer in 2002, and he was later promoted to divisional vice president, overseeing various apparel categories such as junior`s sportswear, missy casual and special sizes before leading jcp.com in 2009 as senior vice president. In 2010, he was designated senior vice president and general merchandise manager of the Company`s home division before transitioning to men`s in 2012.
J C. Penney Company, Inc. (JCPenney) is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc. (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and Website at jcpenney.com, which utilizes applications for desktop, mobile and tablet devices.
Finally, AirMedia Group Inc (ADR) (NASDAQ:AMCN), ended its last trade with 7.83% gain, and closed at $5.37.
AirMedia Group declared that it has reached a definitive Agreement and Plan of Merger (the “Merger Agreement”) with AirMedia Holdings Ltd. (“Parent”) and AirMedia Merger Company Limited (“Merger Sub”), a wholly owned partner of Parent, following which Parent will acquire AirMedia (the “Transaction”) for US$3.00 per ordinary share of the Company (a “Share”) or US$6.00 per American depositary share, each representing two Shares (an “ADS”). This amount represents a premium of 70.5% over the Company’s closing price of US$3.52 per ADS on June 18, 2015, the last trading day before June 19, 2015, the date that the Company declared that it had received a “going-private” proposal.
Right Away after the completion of the Transaction, Parent will be ultimately beneficially owned by Mr. Herman Guo Man, Ms. Dan Shao, Mr. Qing Xu (collectively, the “Buyer Group”), certain members of the administration of the Company and a special purpose vehicle holding shares of the Parent reserved for the vesting or exercise of future employee share incentive awards Parent intends to issue. To date, the Buyer Group beneficially owns, in the aggregate, about 35% of the outstanding Shares (not taking into account outstanding options of the Company).
The Company’s board of directors (the “Board”), acting upon the unanimous recommendation of a special committee of the Board (the “Special Committee”), approved the Merger Agreement and the Transaction and resolved to recommend that the Company’s shareholders vote to authorize and approve the Merger Agreement and the Transaction. The Special Committee, which is composed solely of independent directors of the Company who are unassociated with Parent, Merger Sub or any member of the Buyer Group or administration of the Company, exclusively negotiated the terms of the Merger Agreement with the Buyer Group with the assistance of its independent financial and legal advisors.
AirMedia Group Inc. (AirMedia) is engaged in operating out-of-home advertising platforms in China. The Company is engaged in selling advertising time slots on its network, primarily air travel advertising network, across the People’s Republic of China.
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