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Microsoft's Board Adds Seagate CEO Luczo

DOW JONES NEWSWIRES Microsoft Corp. (MSFT) on Thursday added Stephen J. Luczo, the chairman and chief executive of hard-drive maker Seagate Technology PLC (STX) as its newest director. The software giant also said current director John Thompson, chief executive of privately held Vitrual Instruments, will replace Netflix Inc. (NFLX) Chief Executive Reed Hastings on the board's compensation committee, while naming Luczo to its audit committee. Luczo, 55 years old, has served on Seagate's board since 2000. He was named chairman of the company in 2002 and has held the president and CEO positions since 2009. Microsoft has been expanding its footprint into a variety of sectors over the past year as the line between the software and hardware sectors becomes increasingly blurry. The company most recently paid 300 million for a 17.6% stake in Barnes & Noble's Inc. (BKS) Nook digital-reader business and its college-bookstore business. Seagate has benefited this year as pent-up demand pushes up prices for its hard drives. Severe flooding in Thailand knocked out a significant amount of the world's production capacity, though Seagate was relatively unscathed. Microsoft shares were recently off 11 cents at $31.69 Thursday, while Seagate was down 3.7% at $31.02 amid a broad market downturn. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Netflix (NFLX)
DateTimeHeadline
08/25/201613:30:00Vivendi Posts Decline in Core Earnings
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08/24/201617:30:00Viacom May Tighten Reins on Paramount
08/23/201618:02:04Statement of Changes in Beneficial Ownership (4)
08/22/201611:00:00Netflix Teams with Northwood Entertainment on New TV Series ANNE...
08/22/201611:00:00Netflix Teams with Northwood Entertainment on New TV Series ANNE...
08/19/201612:06:07Statement of Changes in Beneficial Ownership (4)
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08/17/201611:56:00Netflix étend son offre pour l’hôtellerie grâce à un accord élarg...
08/17/201607:10:00Netflix Expands Hospitality Offering Through Expanded Enseo Agreement
08/10/201618:25:49Statement of Changes in Beneficial Ownership (4)
08/10/201606:10:00ITV Bid Rejected by Peppa Pig-Owner Entertainment One
08/03/201617:45:53Statement of Changes in Beneficial Ownership (4)
07/27/201607:40:00Comcast Revenue Tops Estimates as Video Subscriber Losses Improve
07/26/201619:10:00Akamai Stumbles as Silicon Valley Giants Wean Themselves Off...
07/26/201605:40:00Vivendi Backs Away From Buying Italy's Mediaset Premium
07/25/201619:55:40Statement of Changes in Beneficial Ownership (4)
07/25/201617:14:20Statement of Changes in Beneficial Ownership (4)

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