--(www.USEquityNews.com)-- 06/24/2008 - Broadcasting industry alert provided by U.S. Equity News. The president of TV station operator Sinclair Broadcast Group Inc. (NASDAQ: SBGI) bought 4,700 shares of stock, according to a Securities and Exchange Commission filing Friday. In a Form 4 filed with the SEC, David D. Smith reported he bought the shares Wednesday for $7.95 to $7.98 apiece. Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
The Seattle broadcasting company Fisher Communications says it has rejected an unsolicited takeover bid worth about $384 million.
The company said recently that its decided the bid last April was not in the best interest of shareholders. It says a "financial sponsor" not further identified indicated it was interested in offering between $43 and $45 per share in cash for the entire company. Fisher (NASDAQ: FSCI) owns 13 full power TV stations, eight low power TV stations and eight radio stations in the West. Its shares are up 10 percent to $35.17.
Rentrak Theatrical, a business unit of Rentrak Corporation (NASDAQ: RENT), today announced the weekend theatrical box office estimates for the weekend period of June 20 through June 22, 2008 according to the company's Box Office Essentials(TM) theatrical box office data collection and analytical service. Box Office Essentials provides each studio with password-protected, real-time, web browser-based and 24/7 access to data pertaining specifically to their movie release titles. A sophisticated toolset allows studio distribution executives to view and analyze the information at different levels of detail and across a multitude of attributes (by theatre circuit, DMA, time zone, etc.), enhancing their ability to make faster, and better informed decisions.
247MGI, Inc. (OTC: TOFS) ("247MGI") is pleased to announce that a substantial shareholder of the Company has agreed to send back to the Company 40 million shares of common stock to be canceled for Preferred shares in the Company. 247MGI has been working on this transaction for awhile and expects the certificates back in its possession within the next couple of weeks. When the 340 million share of common stock are canceled the number of outstanding shares will be 59 million, a big enough reduction for the Company to move forward with its planned reduction of the Authorized shares to 90 million. 247MGI is placing a Paypal link on its website to raise money to send calling cards to our troops. Please donate whatever you can so our men and women of the military can do what we do everyday, call home!
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