Time Warner and Carl Icahn confirmed late Friday that they had reached a truce.
Under it, Icahn gives up his demand to split up the country into four units and
Time Warner agrees to increase its stock buyback to $20 billion and implement a
$1-billion cost-cutting program. The sides said that they would consult on the
appointment of two new independent members to its board of directors. In a
statement, Time Warner Chairman Richard Parsons said, "We are very pleased to
have reached an understanding with Mr. Icahn. We appreciate his role as a
significant shareholder as well as his constructive suggestions." Today's
(Monday) Financial Times observed that the biggest winner in the
settlement is likely to be Frank Biondi, who formerly headed Viacom and
Universal. The newspaper pointed out that when Icahn hired Biondi to aid him in
his battle with Time Warner, he guaranteed him at least $6 million, regardless
of which way the battle went. (The figure could go substantially higher if Time
Warner shares go up.) In an interview with the FT, Biondi remarked, "It
beats minimum wage, that's for sure."
The youngster hasn't been the same since his trip to the Upside Down.
The actor says he isn't "holding out for more money or doing anything like that".
The drama will be making its return to the streaming service in the near future.
Charlie Cox explains why his character Daredevil 'doesn't have time' for Jessica Jones.