Latest in Daniel Loeb

Listen to (and share) episode 35 of our audio podcast Deadline Big Media With David Lieberman. Deadline’s executive editor joins host David Bloom to discuss the advertising upfronts this week, including the CBS victory lap and whether an auto ad spending blitz will finance this year’s pricey programming; Daniel Loeb's…

The billionaire founder of hedge fund Third Point startled many in entertainment today with the news that he has paid $1.1B for a 6.4% stake in Sony — and wants the company to create a stock for its movie, TV, and music businesses, selling as much as 20% to the public. But on Wall Street, where Daniel Loeb is an…

2ND UPDATE, 2:15 PM: Sony doesn’t slam the door on Third Point‘s proposal for it to sell up to a 20% stake in its entertainment assets — but doesn’t encourage the idea either. Sony “welcomes investment in the company,” SVP Corporate Communications Shiro Kambe says. But he adds: “We are focused on creating shareholder…

Although he’s just 37, PayPal co-founder Max Levchin is seen as a legend in Silicon Valley. That’s why people around the company are jazzed that he just joined the board, filling one seat opened with the departure today of Weather Channel CEO David Kenny and Intuit chief Brad Smith. The two execs “decided to step down…

Third Point CEO Daniel Loeb seems to have gotten just about everything he could want from the settlement agreement with Yahoo, disclosed today in an SEC filing. Yahoo agreed to pay Third Point $4M to compensate for its campaign to gain four board seats. Loeb settled for three, including one for himself. In return…

UPDATE, 12:31 PM: The Wall Street Journal is reporting that Yahoo CEO Scott Thompson told the board over the weekend that he has been diagnosed with thyroid cancer. The WSJ says the disclosure might have impacted the company’s decision to accept Thompson’s resignation. The report adds that Thompson began telling…

Things are still in flux — the Yahoo board is meeting this morning to discuss, AllThingsD reports. Still, the ability of hedge fund manager Daniel Loeb to force Yahoo’s hand raises big questions about the company’s strategic direction. For now, it seems that Global Media Head Ross Levinsohn will step in as interim CEO…

Third Point CEO Daniel Loeb, who controls 5.8% of Yahoo’s shares, continues to punch away at the Yahoo board — which seems to already be on the ropes following the disclosure that Thompson misrepresented his bachelor’s degree. This morning Loeb sent directors a letter urging them to place himself and three colleagues…

This is the next shoe to drop after the board didn’t go along with the demand by Third Point chief Daniel Loeb to fire Yahoo CEO Scott Thompson by noon ET today. The hedge fund manager. who controls 5.8% of Yahoo shares, says that Delaware General Corporation Law entitles him to inspect books and records beginning…

UPDATE, 12:45 PM: Here’s Yahoo’s response to Daniel Loeb: "As we have previously said, the board is reviewing this matter and, upon completion of its review, will make an appropriate disclosure to shareholders.” PREVIOUS, 12:11 PM: Third Point CEO Daniel Loeb, who owns 5.8% of Yahoo‘s stock, made his demand following…

This isn’t a huge scandal, but it does provide Third Point CEO Daniel Loeb — who owns 5.8% of Yahoo shares — with some fodder for his campaign to shake up the company’s board. It seems that Yahoo’s draft proxy statement and web site say that CEO Scott Thompson earned a bachelor’s degree from Stonehill College in…

Dissident Yahoo shareholder Daniel Loeb of the hedge fund Third Point plans to nominate four boardmembers including himself, Bloomberg reports. Loeb and Third Point contend the recent overall at Yahoo including the exit of co-founder Jerry Yang and the impending departure from the board of Roy Bostock didn't go far…