22 Roc Nation To Represent Geno Smith Sports Business Awards Honor Reinsdorf At Bat App Hits 6 Million Downloads TaylorMade Distances Itself From Garcia NYC FC Names Reyna Dir Of Football AAC Incumbents Get 60% Of Realignment Funds NYC FC Owners Still Hopeful On Queens Stadium NYC FC Key To Building Man City Brand
SBD/19/Sports MediaPrint All
GE is considering buying Time Warner for the potential price of $19B. The sale may revolve around whether GE CEO Jack Welch wants to "ease out of the media business by selling all or part of his TV network NBC -- or get in deeper by buying Time Warner." Welch apparently is being advised to hold onto NBC and buy into other media properties. Even though Time Warner is $16B in debt, "it would fit Welch's desire to own companies that are leaders in their field" (Dorfman & Lieberman, USA TODAY, 9/19). ITT TO HEAR OFFERS FOR FINANCIAL CORP: ITT confirmed that it is hearing offers for its ITT Financial Corp. subsidiary and has hired Goldman Sachs to handle the sale. Analysts say the profitable financial services operations could go for close to $3B. The proceeds "would be used to finance ITT's sudden new push into entertainment business." ITT is reportedly interested in purchasing either NBC or CBS (Molly Baker, WALL STREET JOURNAL, 9/19).