A lawyer for Adelphia founder John Rigas and his son, Timothy, argued Thursday that the court should re-evaluate their prison sentences since an appeals court overturned part of their convictions last year. The pair, convicted by a jury in 2004 of concealing loans and stealing millions from the cable operator, are serving prison terms of 15 years and 20 years, respectively.
Yahoo on Thursday postponed a looming showdown for control of its board, giving itself more time to prepare a defense — or negotiate a sale to Microsoft that would cause activist investor Carl Icahn to call off the mutiny. The showdown pitting the board against Icahn was supposed to come at the company's July 3 annual meeting, but Yahoo pushed the meeting to late July, according to a regulatory filing, the second time Yahoo has postponed.
MURDOCH ON BOARD
James Murdoch, News Corp.'s chairman and CEO, Europe and Asia, will join the board of news agency PA Group as a nonexecutive director. PA said Murdoch will replace former News International exec chairman Les Hinton.
Ubisoft Entertainment reported a jump in profits for its full fiscal year thanks to strong sales, lower costs and a gain from equity swaps. Profit rose to €109.8 million ($172.3 million).