You will be redirected back to your article in seconds

TW takes stock of series D

Time Warner announced yesterday that it will redeem about 20 million of the remaining shares, or about $ 1.1 billion, of its series D 11% convertible exchangeable preferred stock.

Proceeds from the $ 1 billion bond TW issued Tuesday will be used to finance the transaction.

The redemption price per share of series D shares is $ 53.85 plus 64 cents of accrued and unpaid dividends to the redemption date for a total of $ 54.49 a share.

Chemical Bank, the transfer agent and registrar for the series D preferred stock, will act as the paying agent, the company said.

The company reported last week that it would redeem 45 million shares of the total 65 million D shares outstanding and that its board authorized the future repurchase or redemption of the remaining 20 million shares. The redemption date for the first 45 million shares is Feb. 5. The redemption date for the remainder is Feb. 12.

More Biz

  • Hulu Live TV Package

    APOS: Asian Video Market Set for Strong Growth (Study)

    Time Warner announced yesterday that it will redeem about 20 million of the remaining shares, or about $ 1.1 billion, of its series D 11% convertible exchangeable preferred stock. Proceeds from the $ 1 billion bond TW issued Tuesday will be used to finance the transaction. The redemption price per share of series D shares […]

  • netflix debt

    Netflix Raises $1.9 Billion in Debt Financing, Its Biggest Round Ever

    Time Warner announced yesterday that it will redeem about 20 million of the remaining shares, or about $ 1.1 billion, of its series D 11% convertible exchangeable preferred stock. Proceeds from the $ 1 billion bond TW issued Tuesday will be used to finance the transaction. The redemption price per share of series D shares […]

  • Kris Wu, Chinese Superstar Singer-Actor, Signs

    Kris Wu, Chinese Superstar Singer-Actor, Signs With Universal Music Group

    Time Warner announced yesterday that it will redeem about 20 million of the remaining shares, or about $ 1.1 billion, of its series D 11% convertible exchangeable preferred stock. Proceeds from the $ 1 billion bond TW issued Tuesday will be used to finance the transaction. The redemption price per share of series D shares […]

  • solo a star wars story

    'Sabacc' Trademark Holder Sues Lucasfilm and Denny's

    Time Warner announced yesterday that it will redeem about 20 million of the remaining shares, or about $ 1.1 billion, of its series D 11% convertible exchangeable preferred stock. Proceeds from the $ 1 billion bond TW issued Tuesday will be used to finance the transaction. The redemption price per share of series D shares […]

  • Set TVNow

    Studios Take Aim at Another Pirate Streaming Device

    Time Warner announced yesterday that it will redeem about 20 million of the remaining shares, or about $ 1.1 billion, of its series D 11% convertible exchangeable preferred stock. Proceeds from the $ 1 billion bond TW issued Tuesday will be used to finance the transaction. The redemption price per share of series D shares […]

  • David Chang Partners With Bill Simmons

    David Chang Partners With Bill Simmons for Ringer Podcast

    Time Warner announced yesterday that it will redeem about 20 million of the remaining shares, or about $ 1.1 billion, of its series D 11% convertible exchangeable preferred stock. Proceeds from the $ 1 billion bond TW issued Tuesday will be used to finance the transaction. The redemption price per share of series D shares […]

More From Our Brands

Access exclusive content