More Desired Stocks: Charter Communications, Inc. (NASDAQ:CHTR), Gannett Co., Inc. (NYSE:GCI)

April 26, 2023 1:45 am182 commentsViews: 125

Charter Communications, Inc. (NASDAQ:CHTR) declared that its subsidiary, CCO Safari II, LLC, has priced $15.5B of senior secured notes due 2020, 2022, 2025, 2035, 2045 and 2055. Charter aims to use the net proceeds from the sale of the Notes to partially finance Charter’s previously released transactions with Time Warner Cable Inc. (TWC) and Bright House Networks, LLC. The proceeds from the proposing of the Notes will be placed in escrow at CCO Safari II, LLC until the closing of the transaction between Charter and Time Warner Cable Inc., at which time the Notes will be assumed by Charter’s subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. Charter Communications, Inc. (NASDAQ:CHTR) stock hit highest price at $177.39, beginning with a price of $174.18 to close at 177.39 by an advance of 2.75% with a day range of $173.52-$177.39.

Gannett Co., Inc. (NYSE:GCI) rose in previous session following a regulatory filing showed activist investor Carl Icahn to have rose his stake in the publishing firm. As per the filing, Icahn, as of June 29, had 7.48M shares in Gannett, representing a stake of 6.5%, increased from 6% previously. The filing revealed that Icahn received the shares in connection with the recent spin-off of Gannett from Tegna Inc (TGNA). On June 29, Gannett completed its spin-off into two separate publicly traded companies. Gannett’s broadcast and internet media divisions became Tegna (TGNA), while the print division retained the Gannett name. On the other consideration, Gannett Co., Inc. (NYSE:GCI) begun last trade with a price of $12.56 and throughout the trading session climbed at $13.53. The day-trade ended with an advance of 10.86% to close at $13.37.

AOL, Inc. (NYSE:AOL) is in talks to buy Baltimore-based mobile ad company Millennial Media Inc., according to a report in TechCrunch. According to unnamed sources, the report declared that AOL (NYSE:AOL) has been “kicking the tires” on the company for several weeks, since before its own acquisition for $4.4 billion by Verizon (NYSE: VZ). The price under discussion ranges between $300 million and $350 million, according to TechCrunch. Though no sale is ever closed until it’s closed, the news is yet more evidence that mobile advertising is really, truly the way forward for the Greater Washington area’s first consumer tech giant.


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