TW bonds to Hasbro stock

NEW YORK — Time Warner Inc. said Tuesday it plans to redeem $656 million worth of bonds that are exchangeable into stock of Hasbro Inc., owned by Time Warner.

The redemption comes a month before another series of securities issued by Time Warner, also convertible into the company’s 14% stake in Hasbro, comes due for conversion. TW issued these securities, known as “PERCs,” in mid-1995 whereas the bonds now being redeemed were sold in December 1992.

Time Warner will let the PERCs convert next month. After that, TW won’t own its Hasbro stock. Time Warner stock rose 12¢ to $60.81 Tuesday.

More Biz

  • STX Targeting August IPO in Hong

    STX Targeting August IPO in Hong Kong (Report)

    NEW YORK — Time Warner Inc. said Tuesday it plans to redeem $656 million worth of bonds that are exchangeable into stock of Hasbro Inc., owned by Time Warner. The redemption comes a month before another series of securities issued by Time Warner, also convertible into the company’s 14% stake in Hasbro, comes due for […]

  • EXCLUSIVE: AR for US, UK and

    Pussy Riot Claims Responsibility for People Running Onto Field During World Cup

    NEW YORK — Time Warner Inc. said Tuesday it plans to redeem $656 million worth of bonds that are exchangeable into stock of Hasbro Inc., owned by Time Warner. The redemption comes a month before another series of securities issued by Time Warner, also convertible into the company’s 14% stake in Hasbro, comes due for […]

  • Former Billboard CEO Accused of Sexual

    Former Billboard CEO John Amato Accused of Sexual Harassment and Other Misconduct

    NEW YORK — Time Warner Inc. said Tuesday it plans to redeem $656 million worth of bonds that are exchangeable into stock of Hasbro Inc., owned by Time Warner. The redemption comes a month before another series of securities issued by Time Warner, also convertible into the company’s 14% stake in Hasbro, comes due for […]

  • Instagram

    Instagram Suffers Global Outage

    NEW YORK — Time Warner Inc. said Tuesday it plans to redeem $656 million worth of bonds that are exchangeable into stock of Hasbro Inc., owned by Time Warner. The redemption comes a month before another series of securities issued by Time Warner, also convertible into the company’s 14% stake in Hasbro, comes due for […]

  • Harvey Weinstein arrives to court in

    Harvey Weinstein Attorney Says He Was Misquoted in 'Roles for Sex' Interview

    NEW YORK — Time Warner Inc. said Tuesday it plans to redeem $656 million worth of bonds that are exchangeable into stock of Hasbro Inc., owned by Time Warner. The redemption comes a month before another series of securities issued by Time Warner, also convertible into the company’s 14% stake in Hasbro, comes due for […]

  • hearst logo

    Hearst Agrees to Pay $50 Million to Settle Data-Privacy Lawsuit

    NEW YORK — Time Warner Inc. said Tuesday it plans to redeem $656 million worth of bonds that are exchangeable into stock of Hasbro Inc., owned by Time Warner. The redemption comes a month before another series of securities issued by Time Warner, also convertible into the company’s 14% stake in Hasbro, comes due for […]

  • Randall Stephenson

    AT&T Stock Drops on Justice Department's Appeal of Time Warner Merger Ruling

    NEW YORK — Time Warner Inc. said Tuesday it plans to redeem $656 million worth of bonds that are exchangeable into stock of Hasbro Inc., owned by Time Warner. The redemption comes a month before another series of securities issued by Time Warner, also convertible into the company’s 14% stake in Hasbro, comes due for […]

More From Our Brands

Access exclusive content