EmptyB'buster clear for Taiwan sale
Blockbuster Inc. has received clearance from regulators in Taiwan to sell the company's stores and franchises there. The Fair Trade Commission of Taiwan has cleared the way for Blockbuster to sell 89 company-owned stores and 39 franchise locations in Taiwan to Webs-TV Digital International. The company will not release details of the transaction until it is finalized, a spokeswoman said. Dallas-based Blockbuster has about 2,600 stores outside the U.S., including the U.K., Brazil and Canada, which account for about 25% of the company's revenue.
WMG sets dividend
Warner Music Group Corp. declared a regular quarterly dividend of 13 cents per share, representing a total payout of about $19.4 million. The dividend is payable Feb. 16 to stockholders of record as of Jan. 18. WMG owns record labels including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra, Lava, Maverick, Nonesuch, Perfect Game, Reprise, Rhino, Rykodisc, Sire, Warner Bros. and Word. WMG also includes music publisher Warner/Chappell Music. Shares of the company fell 2.6% on Friday to $22.95.
Hastings sells Netflix shares
The CEO of Netflix Inc. exercised options for 2,500 shares and sold 10,000 shares of common stock under a prearranged trading plan, according to a U.S. Securities and Exchange Commission filing. Reed Hastings reported he exercised the shares last week for $1.50 apiece and then sold them the same day for $26.33 apiece. He also sold 7,500 additional shares for the same price. The stock sale was conducted under a prearranged trading plan that allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.