Time Warner Board Faces a Fight
A Reuters newswire article, via C|Net News, reports that:
Time Warner dissident shareholders led by billionaire investor Carl Icahn have stepped up their campaign against the media conglomerate, saying they will launch a proxy contest to replace a "majority" of its board.
The dissidents also said Tuesday they have retained investment bank Lazard to propose options for Time Warner including asset sales and "streamlining." They said "a very meaningful and deep restructuring" is needed in light of its lackluster stock performance.
posted by Fergie @ 11/30/2005 07:01:00 AM
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