In the wake of AOL’s tumble yesterday, Tim Armstrong announced a $250 million stock repurchase this morning.
“We believe this stock repurchase makes sense for both our company and our shareholders,” said Mr. Armstrong in a company statement. “We are continuing the disciplined execution of our strategy and have confidence in our future growth prospects.”
Maura Egan, Huffington Post deputy culture, entertainment and lifestyle editor, is leaving the website, reports WWD. Prior to that she was T magazine travel editor.
Rupert Murdoch gave a conference call with Wall Street analysts yesterday. He sounded much more confident and knowledgeable than he did before Parliament. He said Chase Carey is his immediate successor and partner in News Corp, and that the company outperformed its projected growth despite having lost $254 million on Myspace. [Reuters, paidContent]
Daily Intel tracked the lovefest between Sarah Maslin Nir, Times Nocturnalist, and Alec Baldwin, famous person, that led to her article about his mayoral ambitions.