Annan arrives in Greece continuing efforts to finalize Cyprus deal

“Perhaps that goal can slip a few days, but to go much beyond 28 February would doom the prospect of a re-united Cyprus signing the [EU] Treaty of Accession,” Mr. Annan told the press upon his arrival in Athens. “Postponing agreement beyond early March would amount to saying no to EU accession by a united Cyprus.”Stressing that this was the “decisive phase of the process,” the Secretary-General said he would shortly hand over what he hoped would be the final changes to a comprehensive settlement that he first proposed last November and revised in December. The revisions, he added, are the culmination of the most intensive process of negotiations on the Cyprus problem, and a representation of the best of what the UN can do to help parties reach an agreement.”I was encouraged and heartened by my talks in Turkey,” Mr. Annan said, referring to meetings he had with leaders in that country the previous day. “My purpose here, as in Turkey, is to discuss with the Greek Government how they can assist me in this final effort so that the parties in Cyprus can come to terms.”In the afternoon, Mr. Annan attended a signing ceremony of the Olympic Truce in the presence of Foreign Minister George Papandreou, with whom he also held a one-on-one meeting. The Truce, endorsed in the UN Millennium Declaration, calls on Member States to stop all wars and conflicts while the Olympic Games are in progress.This evening, the Secretary-General is expected to meet with Prime Minister Costas Simitis and with Mr. Papandreou, before he attends a dinner hosted by the Prime Minister in his honour. read more

Rovi buying TiVo in 11B cashandstock deal

by The Associated Press Posted Apr 29, 2016 5:20 am MDT Last Updated Apr 29, 2016 at 6:00 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Rovi buying TiVo in $1.1B cash-and-stock deal NEW YORK, N.Y. – Digital TV listing company Rovi is buying TiVo in a cash-and-stock deal valued at about $1.1 billion.Rovi Corp. said Friday that it will pay $10.70 in cash and stock for each TiVo Inc. share. Rovi will pay $2.75 per share in cash, or about $277 million. The rest, $7.95 per share, will be paid in stock.Once the deal closes, the combined business will use the TiVo name. TiVo is a digital video recording company.Rovi CEO Tom Carson will serve as CEO of the new company. The executive said in a written statement on Friday that the buyout will help to extend services across platforms and expand its customer base. The transaction will add more than 10 million TiVo-served households to Rovi’s current customer base of about 18 million households using its guides globally.The companies anticipate at least $100 million in annual cost savings. The transaction is expected to add to Rovi’s adjusted earnings per share within the first year after closing.Both companies’ boards have approved the deal, which is targeted to close in the third quarter. It still needs approval from both companies’ shareholders.Shares of TiVo, based in San Jose, California, added 17 cents to $9.59 in premarket trading. Shares of Rovi, based in Santa Clara, California, surged $1.15, or 6.6 per cent, to $18.50. read more