Cue the lawsuits over the latest media mega-merger. Less than two weeks after At&T and DirecTV sealed their $48 billion-plus tie-up, a shareholder has filed a class action objecting to the deal. The suit filed Thursday in Los Angeles Superior Court (read it here) names as defendants At&T, the satcaster and its board members, including former CBS honcho Peter Lund and ex-Fox Networks Group chief Tony Vinciquerra. In the lawsuit, investor Teresa Silvestri claims the purchase price for the satcaster is too low considering its long-term potential. “DirecTV’s recent financial performance is indicative of a company on the rise with growth potential yet to be recognized,” the suit reads. It also takes the board members to task. “In approving the Proposed Acquisition … the Individual Defendants have breached their fiduciary duties of loyalty, good faith, due care and disclosure by … agreeing to sell DirecTV without first taking steps to...
- 5/30/2014
- by THE DEADLINE TEAM
- Deadline TV
Pat Summerall was the calm alongside John Madden's storm. Over four decades, Summerall described some of the biggest games in America in his deep, resonant voice. Simple, spare, he delivered the details on 16 Super Bowls, the Masters and the U.S. Open tennis tournament with a simple, understated style that was the perfect complement for the "booms!" and "bangs!" of Madden, his football partner for the last half of the NFL player-turned-broadcaster's career. Summerall died Tuesday at age 82 of cardiac arrest, said University of Texas Southwestern Medical Center spokesman Jeff Carlton, speaking on behalf of Summerall's wife, Cheri. "Pat...
- 4/17/2013
- by The Associated Press
- PEOPLE.com
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