Month: August 2014

CARACAS, Venezuela (AP) — Latin America’s greatest hero is finally getting a big-budget, Hollywood-style epic befitting his towering stature.

LOS ANGELES (AP) — StubHub, the ticket reselling subsidiary of eBay Inc., is launching its StubHub Music app nationwide as it goes after core music fans in a challenge to Live Nation in the concert business.

Rupert Murdoch’s Twenty-First Century Fox decided to pull its $80 billion offer to buy Time Warner Inc on Tuesday, abandoning plans to create one of the world’s largest media conglomerates. The surprise announcement appeared to cut short what many investors had viewed as an inevitable battle of attrition over a deal that would have joined two of Hollywood’s biggest studios and TV networks from TNT to Fox News. Still, some investors wondered whether the move could be a shrewd effort to drive down the stock, prompting Murdoch to re-enter the fray later on. “This could easily be part of their negotiating strategy,” said Brett Harriss, an analyst with Gabelli & Co, who said Fox could still try again later.

WASHINGTON (AP) — Take a White House state dinner and multiply it by 50. The result is the most elaborate and unusual dinner of President Barack Obama’s administration, a one-of-a-kind affair put on Tuesday night for a one-of-a-kind gathering of several dozen leaders from countries across Africa.

Rupert Murdoch’s Twenty-First Century Fox decided to pull its $80 billion offer to buy Time Warner Inc on Tuesday, abandoning plans to create one of the world’s largest media conglomerates. The surprise announcement appeared to cut short what many investors had viewed as an inevitable battle of attrition over a deal that would have joined two of Hollywood’s biggest studios and TV networks from TNT to Fox News. Murdoch, who is Fox’s chairman and CEO, cited Time Warner’s management and its board’s refusal to come to the table to discuss a takeover as one reason for the stunning turnabout. Murdoch also cited Fox’s share price – down about 11 percent since the offer was unveiled on July 16 – saying it had become undervalued, making the deal “unattractive to Fox shareholders.” Time Warner, which had fiercely resisted Murdoch’s advance, issued a statement saying it was committed to enhancing long-term value.

StubHub, the ticket reselling subsidiary of eBay Inc., is launching its StubHub Music app nationwide as it goes after core music fans in a challenge to Live Nation in the concert business. The app, which …