AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Postknight division october 20181/4/2024 Consensus Wall Street researchĮstimates (pro forma for the currently pending Adelphia/Comcast transactions(a)) project fiscal 2005 revenues and OIBDA of $46 billion and $11.4 billion, respectively. TWX is the world's largest diversified media company with a current market capitalization of approximately $81 billion. Content (Networks + Filmed Entertainment) Overview and Analysis of the Divisions of TWXī. Lazard recognizes that there may be confidential information in the possession of TWX thatĬould have a material impact on the assumptions and conclusions of this analysis. In analyzing the financial condition, statements and forecasts of TWX, has relied only on publicly available information, including statements and filings by the Company and itsĪffiliates, presentations to shareholders, press articles and research reports published on the Company. Icahn, Franklin Mutual Advisers, LLC, JANA Partners LLC, JANA Was engaged by Icahn Partners LP, Icahn Partners Master Fund LP, American Real Estate Partners, L.P., Carl C. Lazard'sĮngagement is structured to align its interests with those of TWX shareholders, as the incentive fee to be received for the assignment is directly tied to the stock price performance of TWX over theĮighteen-month term of Lazard's engagement. Review the business and operations of the Company and propose various alternatives to maximize the value of all TWX shareholders' interests. llc ("Lazard") was retained by certain shareholders(a) of Time Warner Inc. Managerial Ranks in Restructuring, Wall St. Smith, House of Luce Gets a Renovation, Mediaweek, December 19, 2005. Fires Senior Execs in Shakeup, Muskogee Daily Phoenix and Times-Democrat, December 19, 2005. ≺nn Moore, Chairman and CEO of Time Inc., December 2005 We needed to slim down." The process was "long overdue" and not a "one-day fix."(d) "Too many layers make you very averse to risk. The restructuring process was intended to "delayer" the company's management structure and reduce costs. (c) Larry Bossidy, Execution: The Discipline of Getting Things Done (2002). Larry Bossidy, Former Chairman and CEO of Honeywell International Inc., June 2002 "If you don't know how to execute, the whole of your effort as a leader will always be less than the sum of its parts."(c) Welch, Jr., Speed, Simplicity, Self-Confidence: An Interview with Jack Welch, Harvard Business Review, October 1, 1989. Jack Welch, Former Chairman and CEO of The General Electric Company, October 1989 Have simplicity in the field, you can't have a big staff at home."(b) It can strangle, choke, delay and create insecurity. Headquarters can be the bane of corporate America. When you take out layers, you change the exposure of the managers who (a) Nina Munk, Fools Rush In 261 (HarperCollins Publishers Inc. Richard Parsons, CEO of Time Warner Inc., April 2002 "I'm desperately in need of a strategy."(a) See the "Important Disclosures" section at the conclusion of these materials for important required disclosures, including potential conflicts of Mentioned in these materials, investors should be aware that the firm could be viewed as having a conflict of interest affecting the objectivity of these materials. Given Lazard's past, current or future relationships with companies You should consider these materials as only one of many factors to be considered in making any investment or other decisions. These materials do not purport to be a completeĭescription of the views of or analyses performed by the Icahn Parties or Lazard.Ĭontained herein should be construed as providing any legal, tax or accounting advice, and you are encouraged to consult with your legal, tax, accounting and investment advisors. Therefore, no obligation or responsibility is assumed to any person with respect to these materials. Party, all of which are hereby disclaimed. Lazard has been retained as independent contractor to the Icahn Parties and has no fiduciary, agency or other relationship to the Icahn Parties or to any other Capital Associates, LLC and certain of their respective affiliates Icahn, Franklin Mutual Advisers, LLC, JANA Partners LLC, JANA Master Fund, Ltd., S.A.C. These materials were prepared at the request and on behalf of Icahn Partners LP, Icahn Partners Master Fund LP, American Real Estate Partners, L.P., Carl C. QuickLinks - Click here to rapidly navigate through this document
0 Comments
Read More
Leave a Reply. |