OTHER NEWS - Aug. 20, 1991
From Times Staff and Wire Reports
Time Warner Terminates ‘Poison Pill’: Time Warner Inc. has terminated its stockholders rights plan--commonly referred to as a “poison pill.” The company said that the “pill” was a holdover from an earlier time and that in today’s environment it no longer serves a useful purpose. The plan, which was instituted in 1986, called for each share of common stock to receive one right redeemable by the company at 5 cents each. An offer to redeem outstanding rights under the plan will be made to shareholders of record of common stock on Dec. 6. The cost to the company will be about $4.6 million.
