BUSINESS CLIPS

Empty

Analyst targets CBS Corp.

Miller Tabak analyst David Joyce reduced his target prices on CBS Corp. to reflect a weak economy and the closing of the $1.8 billion acquisition of CNET Networks. The analyst cut his short-term target on the stock $1 to $27 and his long-term target also by $1 to $34. He also cut his earnings-per-share estimates for this year and next, though he reiterated his "buy" recommendation. CBS shares fell fractionally Thursday.

B'buster not finished

Blockbuster, which abandoned its offer to buy Circuit City last week, might try to acquire the electronics retailer later, the New York Post said, citing insiders. Blockbuster "verified the long-term benefits of a deal," according to the paper. The video-rental company in April disclosed that it might want to buy Circuit City for up to $8 a share, or $1.3 billion.

Ask finalizes deal

Ask.com, a unit of Barry Diller's IAC, said that it closed its previously announced acquisition of Lexico Publishing Group, owner of Dictionary.com, Thesaurus.com and Reference.com. Terms of the deal weren't disclosed. Ask.com said the acquisition increases its monthly audience by 11% to about 145 million users.

TNS rejects WPP bid

British market research company Taylor Nelson Sofres rejected an improved buyout offer worth £1.08 billion ($2.14 billion) from ad agency giant WPP, saying it preferred its proposed merger with German peer GfK.
comments powered by Disqus