Time Warner and billionaire plan large-scale restructuring agreement

On February 20th news, last weekend, Time Warner and billionaire Carle (Carl Icahn). Icahn said that after six months of arguing and finally reached a consensus, the future will work together to create a Time Warner media empire. New York Times reported that as the world's largest media company, Time Warner in a public statement, the board of directors of the company plans to buy back $20 billion worth of stock, and consider the election of two new shareholders to join the board, knowing that a series of plans from Carle. Mr. Icahn's proposal. On the other hand, Time Warner also said it plans to take a $1 billion savings plan, and before the adoption of the research report submitted by Mr. Icahn, the company's internal revolutionary reform. In this reform, including Time Warner Cable, including multiple departments, will usher in a large-scale reorganization.

In return, Mr Icahn said it would no longer issue objections to the issue of Time Warner board members. Over the past few months, Time Warner and Mr. Icahn has been discussing the issue of reform, and now the two sides finally reached an agreement. At present, Time Warner's leadership is trying to raise the value of the stock of the media giant, which I am very happy to see." In a report, Mr. Icahn said. Last week, Mr Icahn said he hoped that Time Warner was separated into four independent companies, and all members of the board replaced. This week, however, Mr Icahn changed the tone of the previous tone, saying he agreed to take time warner to ease the reform measures, and only require the replacement of five members of the board. In August this year, Mr Icahn asked Time Warner separate cable business sector, and the repurchase of $20 billion worth of shares. On the day of the announcement, Time Warner shares rose 26 cents, or $18.04, to $1.5% a share.