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Canaccord Genuity on Apple, Tekmira Pharmaceuticals, and Time Warner


Apple starts work on a mini iPad, Tekmira rallies on continuance of DoD contract, and Time Warner prepares to pay Major League Baseball for the rights to broadcast games.

Time Warner (NYSE:TWX): Play ball!

According to two executives close to the deal, News Corp's (NASDAQ:NWSA) Fox and Time Warner's Turner networks will pay Major League Baseball $6.8 billion for the rights to broadcast games through 2021. While the deal was formally announced, financial terms were not disclosed and the sources say that Fox will pay $525 million per year, with Turner paying about $325 million.

The new agreement will cover the 2014 to 2021 baseball seasons and each network will have the rights to one league championship series and two division series each year. Fox will carry more regular season games as well as the World Series and both networks will be able to stream games live over the Internet. MLB Commissioner Bud Selig said that the new deal, coupled with an August agreement with Disney's (NYSE:DIS) ESPN, will provide MLB with $12.4 billion in revenue over the next eight years.

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No positions in stocks mentioned.
Canaccord Financial and its affiliated companies may have a Corporate Finance or other relationship with the companies mentioned and may trade in any of the Designated  Investments mentioned herein either for their own account or the accounts of their customers, in good faith and in the normal course of market making. The authors have not received, and will not receive, compensation that is directly based upon or linked to one or more specific Corporate Finance activities, or to coverage herein.
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