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LightSquared bankruptcy exit plan puts Ergen in uncertain position

2014-02-16 05:20:31| Wireless - Topix.net

Bankrupt wireless company LightSquared Inc has proposed a new restructuring plan that would remove certain regulatory hurdles to its exit from Chapter 11 while potentially subordinating the bankruptcy claim held by its largest creditor, an entity run by Dish Network Corp Chairman Charles Ergen.

Tags: plan position exit puts

Antrim Energy selling some UK assets for $53M; to exit deal debt free

2014-02-08 16:34:49| Oil & Gas - Topix.net

Antrim Energy Inc. says it intends to sells its U.K. subsidiary, Antrim Resources Ltd., for $53 million in cash, plus the assumption of certain liabilities and adjusted working capital.

Tags: free energy deal selling

Sony confirms PC market exit, sees FY loss

2014-02-06 09:01:00| Telecompaper Headlines

(Telecompaper) Sony has confirmed plans to sell off its PC business in order to focus more on smartphones and tablets. In addition, it plans to refocus its TV business on the high end of the market in order to turn the activities profitable by the fiscal year to March 2015. The above measures, as well as a target for a 20 percent reduction in manufacturing and production costs, will lead to a loss of around 5,000 jobs at the group as well as a net loss in the current year on restructuring charges and asset writedowns. In the December quarter, Sony still posted a net profit of JPY 27.0 billion, reversing a loss of JPY 10.8 billion in the year-earlier period. Revenues jumped 23.9 percent to JPY 2.413 trillion, due mainly to positive forex effects, as well as the new Playstation and stronger smartphone sales. Excluding currency effects, revenues rose 5 percent. The Mobile Products division, which incldues PCs and smartphones, was still in the red, with an operating loss of JPY 12.6 billion versus a loss of 21.3 billion a year ago. Revenues at the division were up 44.8 percent, or 18.8 percent excluding currency effects, to JPY 461.5 billion, driven by higher smartphones sales and an increase in phone prices, offset by lower unit sales of PCs. Sony sold 10.7 million smartphones in the quarter, up from 8.7 million a year ago. However, the company cut its outlook for full-year sales, to 40.0 million units from an outlook in October of 42.0 million.

Tags: market loss sony exit