EmptyDis in Bahrain?
Saudi Prince Alwaleed bin Talal reportedly is in talks with investors to build an $8 billion Disneyland theme park in Bahrain. The project would be based on the Walt Disney Co.'s existing theme parks and might be called Disney Bahrain, according to Bahrain's al-Waqt newspaper. Alwaleed is talking to investors including Kuwait Finance House, the paper said.
IAC plummets in Q4
Barry Diller's online media firm IAC/InterActiveCorp said Tuesday that hefty charges pushed profit down 85% in the fourth quarter, but revenue climbed in each of its divisions. Profit after paying preferred dividends dropped from $113.1 million a year ago to $16.7 million. Excluding a $214 million charge related to the company's entertainment publications segment, the company posted adjusted profit of $211.6 million, up 21%. Revenue rose 8% to $1.8 billion.
ProSieben OKs offer
The management and supervisory board of German broadcaster ProSiebenSat.1 has approved the buyout offer submitted by private-equity groups KKR and Permira for ProSieben's minority shares. KKR/Permira acquired a majority stake in ProSiebenSat.1 in a $4 billion deal signed late last year with Haim Saban-led German Media Partners. Under German law, KKR and Permira are required to make a buyout offer to remaining minority shareholders. They offered €28.70 ($37.20) a share for voting shares in ProSieben, equivalent to the amount the group paid for Saban's stake. For nonvoting shares, KKR/Permira is offering €22.50 ($29.10) per share.