Sometimes, the news announced alongside earnings releases is interesting stuff.
Imax Corp., which provides the sound and structural systems for theaters screening larger-than-life, 3D movies, announced today it had posted profits of 40 cents per diluted share for 2005–62% beyond those it announced for 2004, said concurrently said it had hired Allen & Co. and UBS Investment Bank to weigh its strategic options, including a sale or a merger.
In other media news, Liberty Media Corp.’s new chief executive, Greg Maffei, acknowledged the company may look to swap its 4% stake in Time Warner Inc. for some of the media titan’s operating assets, during a conference call Wednesday.
According to a Reuters report, a swap could even lead to Liberty Media taking full control of Court TV– of which each company owns half.
Also yesterday, Liberty Media said it posted a wider loss for fourth quarter 2005, though revenue jumped 13 percent on improved results at its QVC home shopping channel.-Carolyn Murphy
Liberty eyes swapping Time Warner stake
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