Digest: Getty on block; DirecTV clears plan
EmptyGetty on auction block
Getty Images, the largest supplier of pictures and video to media and advertising companies, has put itself on the auction block and could fetch more than $1.5 billion, according to published reports Monday. The firm hired Goldman Sachs to advise it on a potential sale, and the company has attracted interest from several buyers, mostly private-equity firms, including Kohlberg Kravis Roberts, which also is an investor in the Nielsen Co., parent of The Hollywood Reporter. A company spokeswoman declined comment. The Reporter has a contract with Getty.
DirecTV clears repurchase plan
DirecTV said Monday that its board has authorized the repurchase of up to $1 billion of its common stock. The company, which boasts 16.6 million U.S. subscribers to its satellite television service, recently completed a $1 billion stock-repurchase program announced in August and has repurchased $5 billion of its shares in recent years. DirecTV is awaiting regulatory approval for a plan that would allow Liberty Media to acquire News Corp.'s controlling 39% stake in the company.