Constellation Brands Inc. , the distributor of Corona beer, said Monday it has received a non-binding proposal from the Sands Family to declassify the company's common stock and move to a single class common stock structure. Under the terms of the proposal, the company's Class B stock would be converted into 1.35 shares of Class A common stock and the Sands Family would remain the company's biggest shareholder. The proposal would bring "significant benefits that would accrue to the Company and o Read More...
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AT&T’s Megaspinoff of WarnerMedia Nears the Finish Line
Telecom giant AT&T (NYSE: T) spent years, and tens of billions of dollars, attempting to turn itself into a media conglomerate. It acquired DirecTV to bolster its video business, and after nearly two years of legal wrangling, it successfully acquired Time Warner in an $85 billion deal that closed in June 2018. Time Warner, now known as WarnerMedia, brought with it valuable properties including Warner Bros, HBO, and Turner.
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