US Hedge Fund Wins Control of Telecom Italia Board

The activist hedge fund Elliott Management claimed victory in a shareholder battle for control of the Telecom Italia board, narrowly winning a vote Friday to install a cadre of well-known Italian businessmen as a majority over those loyal to the controlling stakeholder, French entertainment group Vivendi.

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DC Circuit and FCC Spar on Sinclair-Tribune Merger

A panel of the D.C. Circuit on Friday asked the Federal Communications Commission some tough questions about a rule change that would allow broadcasters to skirt a 39 percent cap on how many local TV stations they can own — a key question in the Sinclair Broadcast Group’s quest to buy Tribune Media for $3.9 billion.

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