Thursday, May 05, 2005
Top News Article | Reuters.com:
"Time Warner sells Google stake-filing
NEW YORK, May 4 (Reuters) - Time Warner Inc. (TWX.N: Quote, Profile, Research) has sold its remaining stake in Google Inc. (GOOG.O: Quote, Profile, Research) and plans to record a $925 million gain in the second quarter, according to a filing on Wednesday.
The New York-based owner of HBO, the Warner Brothers movie studio and America Online sold 5.1 million shares of Google at an average selling price of $185 a share, netting $940 million in cash on Tuesday.
Since last year, Time Warner has gained about $1.1 billion from its Google stake.
Last year, it sold 2.4 million shares, generating about $195 million. It recorded a $188 million gain in the third quarter of 2004. "
"Time Warner sells Google stake-filing
NEW YORK, May 4 (Reuters) - Time Warner Inc. (TWX.N: Quote, Profile, Research) has sold its remaining stake in Google Inc. (GOOG.O: Quote, Profile, Research) and plans to record a $925 million gain in the second quarter, according to a filing on Wednesday.
The New York-based owner of HBO, the Warner Brothers movie studio and America Online sold 5.1 million shares of Google at an average selling price of $185 a share, netting $940 million in cash on Tuesday.
Since last year, Time Warner has gained about $1.1 billion from its Google stake.
Last year, it sold 2.4 million shares, generating about $195 million. It recorded a $188 million gain in the third quarter of 2004. "
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