SandRidge Energy (SD -2.4%) shares sink to their lowest levels since November, a drop that's blamed on TPG-Axon's presentation (summary) outlining SD management's "record of massive value destruction." The company claims replacing its board, as the hedge fund suggests, would lead to a default under its credit agreement and require it to make an offer to repurchase its senior notes. [View news story]
Perhaps the SEC should take a look. A credit agreement that keeps the current board in place surely would be a significant event. I don't recall any discloser to that effect.
The aggressive moves by Fox Sports (NWS +0.3%) in building the cornerstone for a national sports network isn't a threat to Disney's (DIS +1%) ESPN anytime soon, according to analysts. In order to cut significantly into ESPN's dominance, Fox would need to land NBA or NFL rights which won't be up for bidding for years. The most likely scenario is that Fox Sports will keep adding a steady mix of MLB, college football, NASCAR, and English Premier League programming to help it hike the prices it charges cable companies. [View news story]
Murdock is so political, I will refuse to watch any network that has his finger prints on it. Murdock corrupts everything he touches, even the WSJ! If ever a boycott was called for, it's one targeting Murdock.
SandRidge Energy (SD -2.4%) shares sink to their lowest levels since November, a drop that's blamed on TPG-Axon's presentation (summary) outlining SD management's "record of massive value destruction." The company claims replacing its board, as the hedge fund suggests, would lead to a default under its credit agreement and require it to make an offer to repurchase its senior notes. [View news story]
Energy Secretary Chu's Overdue Departure Could Be Bullish For Natural Gas Transportation [View article]
The aggressive moves by Fox Sports (NWS +0.3%) in building the cornerstone for a national sports network isn't a threat to Disney's (DIS +1%) ESPN anytime soon, according to analysts. In order to cut significantly into ESPN's dominance, Fox would need to land NBA or NFL rights which won't be up for bidding for years. The most likely scenario is that Fox Sports will keep adding a steady mix of MLB, college football, NASCAR, and English Premier League programming to help it hike the prices it charges cable companies. [View news story]