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Wednesday, 5/16/12  
Recent Headlines Media news by sector GO TO: MAGAZINES & NEWSPAPERS TELEVISION & RADIO INTERNET & DIGITAL MEDIA ADVERTISING & MARKETING MEDIA COMPANIES MAGAZINES & NEWSPAPERS Time Inc Unveils New York Startups to Watch Time Inc Time Inc. has released its list of the 10 NYC Startups to Watch for 2012. The startups will be recognized at a special event Wednesday, as part of the Internet Week New York festival. Time Inc. is "constantly searching for digital innovation," said company exec Mark Golin. Ziff Davis Acquires Computer Shopper Website BtoB Ziff Davis, publisher of PCMag.com, has acquired Computer Shopper, a website offering comparison shopping of technology products. The acquisition is Ziff Davis' fifth deal in the past year. Its recent acquisitions include Focus Research and Toolbox.com. New York Times Circ Gains May Top Ad Losses AllThingsD The New York Times's growing subscriber base will make up for its shrinking advertising business by the middle of 2014, according to Barclays analyst Kannan Venkateshwar. The Times online paywall, launched a year ago, has impressed industry skeptics. Gannett Rolls Out More Newspaper Paywalls News & Tech Gannett's U.S. community publishing unit has kicked off digital subscriber initiatives at five additional newspapers in the past week, with more to come. The company now has more than 25 of its 80 community papers with digital subscriber plans. USA Today Publisher Plans Newsroom Office Adweek Larry Kramer, the newly appointed president and publisher of USA Today, said he plans to put an office for himself in the newsroom and will be "spending some time" there. "This is the first time in a long time they've had an editorial person in the publisher's seat." Sun on Sunday Tabloid Sees Circulation Drop Media Week News International execs have hailed the first 10 weeks of the Sun on Sunday tabloid as a "success story," despite a drop in sales. Weekly sales have slipped well below those enjoyed by News of the World, which was closed amid allegations of phone hacking. ProPublica Editor to Step Down at Year End New York Times Paul Steiger plans to step down as editor in chief and CEO of ProPublica, the nonprofit investigative news organization he started nearly five years ago. Steiger will become executive chairman, assisting with fundraising and strategic decisions. The Daily News App 'Going Great,' Editor Says Capital New York How is The Daily, the 15-month-old News Corp. tablet tabloid, doing so far? "It's going great," said editor-in-chief Jesse Angelo, noting The Daily's third-place finish on the App Store's list of top-grossing paid apps for 2011, as well as the title's 100,000 subscribers. Gannett Names Kramer Publisher of USA Today MarketWatch Larry Kramer, a media industry veteran, has been named president and publisher of Gannett's flagship USA Today newspaper. Kramer, who helped form MarketWatch in 1997, will be responsible for the long-term strategic vision of USA Today across all of its platforms. Variety Sale Attracts Bidders from Hollywood Telegraph Reed Business Information, the publisher behind Variety, said it has put its "pariah" status behind it as more than half of its money will come from online subscriptions this year. Variety has attracted interest from "scores" of potential bidders, including Hollywood moguls. Atlantic Nabs Hearst Exec for Digital Position Folio Atlantic Digital has found its new VP and general manager in Kimberly Lau, who was Hearst's VP of business development and partnership relations. Lau will spearhead a more aggressive push into video. The landscape of smartphones and tablets will be another focus. The Economist Unveils Digital 'Economist Radio' min The Economist has proven to be among the most agile magazines in the digital age. The audio feature in the digital edition, which reads articles to users, is so popular that the magazine introduced Economist Radio as a Facebook and Google Chrome app or available online. Us Weekly Has Modest Expectations for the iPad Advertising Age Wenner Media plans to introduce an iPad edition of Us Weekly this Thursday, almost a year after chief Jann Wenner said magazines were rushing to the iPad out of "insanity and insecurity and fear." He still holds relatively modest expectations for tablet editions. Time Magazine Cover Lures Subscription Orders Advertising Age Time magazine's "Are You Mom Enough?" cover showing a mother breast-feeding her three-year-old son generated an enormous surge of talk late last week. The newsweekly said it sold more online subscriptions Thursday than it did all of last week. Newsweek Cover: Obama Is 'First Gay President' Politico Just days after President Obama affirmed his support of gay marriage, Newsweek has given him a new title: "The First Gay President," according to the cover of the new issue. Rival Time magazine released its controversial breast-feeding cover last week. Times of London Former Editor Set for Leveson Journalism.co.uk Harold Evans, former editor of the London Times and Sunday Times, has been announced as among the latest witnesses to give evidence to the Leveson inquiry into British press ethics. Evans also was once involved in an attempted buyout of the Sunday Times. New York Times Sells Stake in Boston Red Sox New York Times The New York Times has sold its remaining stake in Fenway Sports, the company that owns the Boston Red Sox, the latest move in a continuing effort to shed assets unrelated to the company's flagship newspaper. The Times received $63 million for the stake. New York Daily News Shutters Spanish Weekly Capital New York The Daily News has shut down its weekly Spanish-language publication, Hora Hispana, just a little more than a year after relaunching it. Hora Hispana was discontinued "because there wasn't enough advertising to support it," according to a spokesman. Philadelphia Inquirer, Daily News Publisher Exits Philadelphia Daily News Greg Osberg, publisher and CEO of the parent company of the Philadelphia Inquirer and Daily News, has stepped down, a little more than a month after local investors bought the firm for $55 million. Osberg said he believed it was the "right time to step aside." Washington Post Beefs Up on Tech Employees Washington Post The Washington Post, which now employs 195 information-technology professionals, has speeded up the download time of its website. New VP Shailesh Prakash wants media companies to compete with Google and Facebook: "Technology is a driver of where we are going." Google: Newspaper Model Doesn't Make Sense MIT Center The vertical model of a newspaper doesn't makes sense going forward, said Richard Gingras, head of news products at Google, in an address at Harvard University. He compares the newspaper's all-things to all-people product to "played-out" content portals like Yahoo. Meredith: Moms Use Smartphones During Sex Adweek Meredith's "Moms & Media" survey, which questioned around 1,000 young mothers, found that 21% of moms use their smartphones in the bathroom, while 12% admitted to using their phones during sex. Some 81% of moms said they mostly used their phones for shopping. Time Magazine's 'Breast' Feeds Controversy Forbes Time magazine's latest cover, which features a mother breastfeeding her almost-four-year-old son, could result in major chain stores like Kroger, Walmart and Target covering the image in display racks. "It's certainly a possibility," admitted managing editor Rick Stengel. The Economist: Digital Price Will Match Print The Drum Andrew Rashbass, CEO of the Economist Group, has predicted that the price of the digital tablet version of The Economist magazine will soon match that of the printed version of the publication. "Or if you want both you will pay a little bit more," he revealed. The Atlantic: We No Longer Care About SEO Mashable The Atlantic has adapted its online editorial strategy to the shifting landscape of news consumption, aiming to capitalize on the growing importance of social networks, rather than search engines, as sources of traffic. "Now 40% of traffic comes from social media." Variety Sale Starts to Attract Potential Bidders paidContent A Variety staffer who was briefed by management on the status of the trade publication's sale said that 11 potential bidders have asked to see the deal book. Evercore Partners, which handled the sale of Newsweek and BusinessWeek, is also overseeing Variety's sale. Houston Chronicle Stripper Journo Files Charge CNN Part-time stripper Sarah Tressler, who was fired from her full-time newspaper job at the Houston Chronicle, has filed a complaint asking the Equal Employment Opportunity Commission to investigate the Hearst newspaper's decision to let her go. Canada's Globe and Mail to Add Online Paywall Reuters The Globe and Mail, one of Canada's biggest newspapers, plans to begin charging readers for access to articles on its website amid a search for alternatives to slumping print business. Staff are also being asked to take unpaid leave over the summer to cut costs. New York Observer Owner Eyes Chinese Readers WWD Yue magazine, a joint venture between Jared Kushner's Observer Media and Chiu-Ti Jansen, editor and publisher of the quarterly title, targets both wealthy Mandarin-speaking tourists and New York residents. Next month, Kushner and Jansen will launch a West Coast version. Huffington Post Preps Launch of Edition in Italy WWD An edition of the Huffington Post in Italy is set to go live in September. The new site will be published in partnership with Gruppo Editoriale L'Espresso, which publishes daily newspaper La Repubblica, news magazine L'Espresso and 18 regional dailies. >> MORE TELEVISION & RADIO NBC, Fox Irked by Dish Network's Ad Skipping Los Angeles Times NBC exec Ted Harbert called Dish Network's new offering enabling customers to block commercials from certain recorded shows "an attack on our ecosystem." Fox exec Peter Rice described the satellite broadcaster's decision to offer Auto Hop "a strange thing to do." Fox to Reinvigorate Aging Hit 'American Idol' Wall Street Journal Fox broadcast network said Britney Spears would join "The X Factor" as a judge next season, after a disappointing debut year. The network also said it has "some creative reinvigoration" planned for its aging hit "American Idol," although it didn't offer details. CBS Preps New Sitcom Inspired by Groupon Vanity Fair CBS has ordered a sitcom for next season called "Friend Me," which is said to be inspired by Groupon. The series will star Christopher Mintz-Plasse and Nicholas Braun as "best friends who move to Los Angeles to begin their exciting new lives working at Groupon." ABC Named 'Must-Keep' TV Brand in Survey World Screen ABC has topped the "must-keep TV" poll, conducted by Solutions Research Group, based on interviews with 1,400 U.S. consumers. ABC was identified as the No. 1 "must-keep" TV brand. Among men, CBS took the top spot, while ABC led among women. CNN to Launch 'CNN Films' Features Banner TVNewser CNN plans to launch a feature film banner called CNN Films that will develop "tentpole" non-fiction films for TV and theatrical release. The plan is to pursue well-known documentarians and filmmakers to produce the features. The first films are expected out next year. ESPN Website to Sell Legit Ad Impressions Adweek ESPN has partnered with Horizon Media and the startup firm RealVu, which claims to be able to gauge how many ads in a campaign are actually viewable. Several test campaigns for Horizon clients will roll out this this month employing RealVu's technology. NBC Seeks Comeback with a Former 'Friend' Associated Press NBC has unveiled a fall schedule that has 10 sitcoms, double the number of dramas the network will air. Comedy is being added to two nights, Tuesday and Friday. Four of the comedies are new, including "Go On," which will star former "Friends" actor Matthew Perry. Fox: Britney Will 'Factor' Into a Familiar Lineup USA Today Fox thinks Britney Spears has "The X Factor," and will add her to the judging panel as part of a stable fall lineup that includes just three new series. The singer's arrival will be announced at a presentation to advertisers, when Fox also will detail plans to move "Glee." CBS Cancels 'CSI: Miami,' Adds Show to Netflix Bloomberg CBS said "CSI: Miami" won't return to the network's broadcast schedule next season. The crime drama will continue to be sold as reruns to other networks and will become available through CBS's digital distribution deals, which include streaming on Netflix. Univision to Launch UVideos Digital Network Associated Press Univision this summer plans to launch a digital network that will enable viewers to tap into its programming on computers, smartphones and tablets. The new service will have special content and social media links designed to encourage second-screen viewing. Sirius XM CEO Karmazin Likely Out in Takeover TheStreet The recent moves by John Malone's Liberty Media to buy more shares of Sirius XM are expected to lead to an eventual takeover of the satellite broadcaster. CEO Mel Karmazin has said: "I'm not really good at working for somebody. I just could not be a No. 2." NBCUniversal Bashes Diller's Aereo TV Service The Verge NBCUniversal exec Matt Bond: "It makes little sense for cable systems and satellite broadcasters to continue to pay for NBCU content when, with a relatively modest investment, they can simply modify their operations to mirror Aereo's 'individual antenna' scheme." CBS Throws a Lawsuit at ABC's 'Glass House' New York Times CBS has filed a lawsuit seeking to block a proposed ABC series called "Glass House" because of its similarities to its show "Big Brother." CBS argues that the ABC show represents copyright infringement. Many of the show's producers had worked on "Big Brother." TBS Saves 'Cougar Town' from Cancellation EW TBS has rescued "Cougar Town," ordering a fourth season of the comedy to begin airing in early 2013. In addition, TBS has purchased the rights to "Cougar Town's" first three seasons that originally aired on ABC. "'Cougar Town' is a smart, whimsical sitcom," said TBS. Oprah Rallies the Troops in Rah-Rah E-Mail New York Post Oprah Winfrey has rallied the troops as only she can. Buffeted by several days of headlines covering her cable channel's struggles, the former talk-show queen sent an e-mail to her staff, telling them better days are ahead: "Our momentum is real and growing." ABC: How Network Made Gay Marriage History Guardian The call came in to ABC News around midday Tuesday: the White House was offering "Good Morning America" anchor Robin Roberts a sit-down with President Obama. The interview would not just command a ratings-crushing audience – it would likely make history. Vice Media, HBO Team for News Magazine Show New York Observer Vice Media has partnered with HBO on a news magazine show to be hosted by Vice founder Shane Smith. The weekly series will be executive produced by Bill Maher, Shane Smith and Eddy Moretti, Vice's chief creative officer, with CNN's Fareed Zakaria consulting. Dish Adds a Feature to Help Skip Commercials Los Angeles Times Dish Network has introduced a feature that makes it even easier for viewers to skip commercials. Called "Auto Hop," the feature skips ads in recorded prime-time programming from CBS, NBC, ABC and Fox. Said Dish: "Viewers love to skip commercials." Time Warner Cable Preps LA Sports Networks Los Angeles Times Time Warner Cable plans to launch English- and Spanish-language sports channels in the Los Angeles area this fall in a bid to circumvent News Corp. The cable operator has shelled out billions of dollars to snag the Los Angeles Lakers away from Fox Sports West. >> MORE INTERNET & DIGITAL MEDIA YouTube's Video Views Are Falling by Design Advertising Age Since December, views on YouTube have dropped 28%, an intended consequence of the Google-owned site's shift from a video search engine filled with snack-size content to a full-fledged entertainment destination. "Our goal is we want users to watch more and click less." Yahoo Chief Wants Interim CEO to Be Permanent Wall Street Journal During an all-hands meeting, new Yahoo chairman Fred Amoroso said he wanted Ross Levinsohn to become the permanent CEO, according to a person familiar with the matter. Amoroso said the company hadn't established a CEO search committee yet but may do so. Facebook Dismissed as Fad by Half of Americans Associated Press Half of Americans think Facebook is a passing fad, according to a new poll by the Associated Press and CNBC. In the run-up to the social network's initial public offering, half of Americans also say the social network's expected asking price is too high. Groupon Revenue Increases Nearly 90 Percent Chicago Tribune Improvements in technology and deal variety helped Groupon post a nearly 90% increase in revenue during the first quarter, giving the company a much-needed boost after weeks of stock declines. The daily deals site reported first-quarter revenue of $559.3 million. Tweeter's Digest: Twitter Starts Weekly Email AllThingsD Twitter has launched a weekly email digest of tweets to its users, essentially a summary of the most relevant messages on the microblogging service in the past week. Users will be able to see related tweets in context, and be able to tweet directly from the mail. Amazon to Launch Front-Lit Kindle in Summer Reuters Amazon will launch new versions of its Kindle e-reader and tablet, including a monochrome e-reader with front lighting, according to a source who has seen the prototype. The world's largest Internet retailer aims to have the new e-reader in stores in July. Internet Week Goes Up Against TV's Upfronts New York Post Both the annual Internet Week festival and the broadcast network "upfront" shows for advertisers begin Monday in New York. IAC boss Barry Diller, who aims to torpedo the TV business model with his new venture, Aereo, is organizing Internet Week's closing party. IAC's Barry Diller Aims to Blow Up the Box New York After a career in which he firebombed the traditional TV model from multiple angles, Barry Diller talks about his latest effort to torch the tube with Aereo: "We not only found there was nothing wrong with it, but that it had the possibility of being disruptive." YouTube Channels to Rival TV, Kutcher Says New York Post Ashton Kutcher said he thinks YouTube's 100 new original channels "are going to be synonymous" with ABC, NBC, Fox, CBS and Bravo. "If you're not trying to replace something that you're working on with something that is the future ... eventually you'll get replaced." Netflix Reputation Ticks Up Among Consumers CNNMoney Netflix's reputation has improved after it was damaged last year when the company mishandled a price increase and attempt to spin off its DVD business, according to a new survey by analytics outfit Forsee. Netflix is "still obviously paying the price of its PR fiasco." Google in Talks to Buy Meebo for $100 Million AllThingsD Google is in talks to acquire Meebo for about $100 million, according to sources. The Mountain View, Calif.-based Meebo has been dedicated to all sorts of social products and customers. Its latest product promises to help users cut through information overload. Facebook CEO: Mobile, Ads Are Top Priorities Reuters Facebook CEO Mark Zuckerberg, whose limited role in promoting the No. 1 social network's market debut has drawn criticism, has laid out its growth strategy to investors, saying that transforming its mobile and advertising experience are top priorities in 2012. Craigslist Targeted in Facebook Test Feature Mashable Facebook has been testing a feature called "Highlighted Posts" that potentially puts the company into the online classified ads arena dominated by Craigslist by letting users amplify status updates. The fee for using the feature runs from zero to "a couple of bucks." Twitter Developing 'Smart' Original Content Fast Company Twitter has posted a job listing for a Sports Editorial Associate Producer, who will "monitor and curate a live stream of Twitter sports content," and "write pithy, smart content in under 140 characters." The listing appears to be explicitly aimed at creating an editorial product. Yahoo's Thompson Told Board He Has Cancer Wall Street Journal Before resigning as CEO of Yahoo over the weekend, Scott Thompson is said to have disclosed to the company's board of directors that he has been diagnosed with thyroid cancer. The decision to step down from Yahoo was in part influenced by the cancer diagnosis. Facebook Co-Founder Gives Up U.S. Citizenship Bloomberg Eduardo Saverin, the billionaire co-founder of Facebook, has renounced his U.S. citizenship before an IPO that values the social network at as much as $96 billion, a move that may reduce his tax bill. Saverin "found it more practical to become a resident of Singapore." Google's YouTube Mulls Subscription Service New York Post YouTube is said to be weighing the introduction of a premium, subscription-based video service. The video giant is in talks with program providers about adding more top-shelf content to its channels but putting it behind a pay wall as some newspapers have done. Apple: Brand of Choice for Hollywood Execs Bloomberg Businessweek Apple has spent decades positioning itself as the brand of choice in Hollywood. Unlike many companies, the iPhone maker said it never pays for its products to appear on TV or in movies. The company's gadgets were discussed or shown 891 times on TV last year. Amazon to Launch Blogs in Tech, Entertainment The Daily Amazon is said to be poised to launch a trio of blogs. One will be designed to compete in the tech news space with websites like Gizmodo and The Verge, while the others will cover film, comics, TV and other "geek-related activities," like digital photography apps. Google: We're Like the New York Times, CNN Wired News Google has a First Amendment right to sort or even censor search rankings as they like, according to an analysis from the Internet giant. Search engines "are no different from traditional news media outlets such as the New York Times, CNN or the Drudge Report." Yahoo CEO Says He Never Provided a Resume Reuters Yahoo CEO Scott Thompson never provided a resume to Yahoo, he is said to have told top execs at a meeting, aiming to address a controversy over his educational background. Thompson's resume has led to questions about his future at the struggling Internet company. Facebook Instagram Deal Faces Delay Threat Financial Times The Federal Trade Commission has launched a probe of Facebook's proposed acquisition of Instagram, threatening to postpone the closure of the deal beyond the second quarter target date. The delay could hurt Facebook's efforts to strengthen its mobile strategy. Twitter Acquires Personalized E-Mail Marketer TechCrunch Twitter has entered a deal to hire the team and buy the technology of RestEngine, a personalized e-mail marketing service, which could help the microblogging company deliver e-mail digests of great tweets users have missed. Twitter views the deal as an "acqui-hire." Amazon Brings 'Harry Potter' to Kindle Library Tech Web Amazon has announced that all seven Harry Potter books will be coming to the Kindle Owners' Lending Library. The online retailer purchased an exclusive license from J.K. Rowling's Pottermore to make the addition possible. Kindle's library has grown to 145,000 books. >> MORE ADVERTISING & MARKETING Nielsen: TV Holds Lion's Share of Ad Dollars Nielsen Wire American advertisers and consumers have a huge appetite for television, as TV holds the lion's share of ad dollars and consumers' media time, according to Nielsen. Ad spending for TV reached $72 billion in 2011, more than all other ad platforms combined. Study: Mobile Ad Revenue to Reach $11.6 Billion BtoB Mobile advertising revenue will reach some $11.6 billion this year, up 85.4% over last year, according to a new forecast from Strategy Analytics. The report projects that 125 million Americans will access social networks via mobile handsets in 2012. Internet Ad Revenue Totals $31 Billion in 2011 ClickZ The Interactive Advertising Bureau's Internet Advertising Report, prepared by PwC U.S., reveals that digital advertising revenue totaled $31 billion in 2011. That represents an increase of 22% over 2010. Mobile advertising was the fastest growing segment. Spotify Signs Ad Deal with Coca-Cola, Others CNET Spotify has signed new advertising deals with AT&T, McDonalds, Intel, and Reebok and a worldwide ad deal with Coca-Cola. The digital music service will create "brand apps" that will live inside Spotify's desktop. Also, rumors about a public offering are circulating. Clio Awards to Recognize Leibovitz, Bourdain WWD Annie Leibovitz will receive an honor at the 53rd annual Clio Awards, which take place May 15. She will be recognized along with chef, author and TV host Anthony Bourdain. The Clios celebrate creative professionals in advertising, design and communications. IAB: Skippable Video Ads Coming to the Web Advertising Age The Interactive Advertising Bureau, which helps set uniform standards for online advertising, is adding a new format to the mix: video ads that you can skip. In doing so, the IAB is offering support for publishers who believe consumers should be able to skip irrelevant ads. Nielsen: Traditional Media Ad Trust Dropping TechCrunch While 92% of consumers say they trust word-of-mouth recommendations, less than half trust paid ads in traditional media outlets, according to a new survey by Nielsen. The trust in ads in "old media" outlets has declined by more than 20% since 2009. Nielsen: People Use TV, Tablets at Same Time CNET Do you check e-mail while you watch TV? Nielsen's poll of mobile users in the U.S., U.K., Germany, and Italy discovered that people are increasingly checking e-mail or searching for program or product information on their tablets and phones while watching TV. ABC, Nielsen Partner to Measure iPad Usage Variety Disney-ABC Television and Nielsen have unveiled a collaboration to measure iPad usage, a move reflecting an urgency to understand the device's impact on media consumption. The little data available on tablet video consumption is seen as a testament to its potential. Procter & Gamble Shifts More Ads to Magazines Business Courier Procter & Gamble, the nation's biggest advertiser, is shifting some of its marketing dollars from TV to magazines. "While TV is still the foundation of its advertising media buys, P&G's 2011 budget allocation saw share gains for magazines at the expense of TV." Google's Spending on Traditional Ads Grows Wall Street Journal Google is spending big sums on TV, magazine and newspaper ads to promote new services, including its Google+ social network and Chrome web browser. Google's ad-spending as a percentage of revenue is now almost on par with rivals Apple, Microsoft and Yahoo. Twitter Rolls Out Small Business Ad Program Next Web Twitter has launched its advertising program specifically aimed at small businesses with an American Express card. The program appears to be designed as a test run for rolling out advertising options suited to smaller businesses on a larger scale. >> MORE MEDIA COMPANIES News Corp Aide Brooks Faces Hacking Charge Wall Street Journal U.K. prosecutors said they will charge Rebekah Brooks, the former head of News Corp.'s British newspaper unit, with conspiring to obstruct justice, marking the first charges filed in a criminal investigation into wrongdoing at the U.S. media company's British tabloids. Disney's Touche Could Be the Next Big Thing Motley Fool Disney has developed a technology called Touche, which allows any material, including water, to become touch-screen capable of reacting to touches and gestures. If successful, Touche could make current phone and tablet touch-screen technology seem outdated. Time Warner Fears Cybersquatting 'Gold Rush' Bloomberg The Internet Corporation for Assigned Names and Numbers plans to add as many as thousands of new web suffixes, such as .shop or .music. The move could provide a "new gold rush" for cybersquatters to hijack brand names, said Time Warner exec Fabricio Vayra. Time Warner: New Platforms Help Fight Piracy Guardian Jeff Bewkes, CEO of Time Warner, said he believes that making films available on all platforms early in their runs will reduce piracy, despite the objections of movie-theater owners. The window between theater release and home viewing creates "a gap for piracy." Disney CEO Reaps $26.6 Million in Stock Sale Bloomberg Disney CEO Bob Iger sold $81.6 million in stock after the record box office of "The Avengers" powered company shares to new highs. Iger, who plans to step down as CEO in March 2015, exercised options at a cost of $55 million, suggesting a profit of $26.6 million. News Corp to Buy Stake in Chinese Film Group Hollywood Reporter News Corp. is the latest media conglomerate to strike a deal with a Chinese film company, announcing that it has agreed to buy a 19.9% stake in Bona Film Group. The agreement will help the Chinese film producer and distributor reach a more global audience. Viacom in Rights Deal for 'Godfather' Sequel Bloomberg Proceeds from the new sequel to Mario Puzo's novel "The Godfather" will be put in escrow while Viacom's Paramount Pictures and the late novelist's estate pursue litigation over publishing rights. "An interim agreement allows publication of the novel to go forward." Comcast to Deliver Ads to Commercial Skippers FierceCable Comcast has developed technology that will deliver advertising to cable subscribers who skip commercials in TV shows recorded on a DVR. Customers who hit fast-forward on their remotes will receive an alternate ad displayed in the center of their TV screens. Houghton Mifflin Enters Bankruptcy Process New York Times Houghton Mifflin Harcourt, the educational and trade publisher in Boston, has agreed with most of its creditors to eliminate $3.1 billion of debt and enter a prearranged Chapter 11 bankruptcy process. The publisher has struggled financially for years, laden with debt. News Corp: Murdoch Wanted 'Serious' News Hollywood Reporter Rebekah Brooks, the former CEO of News International, told a U.K. media ethics panel that she and News Corp. CEO Rupert Murdoch had similar views "on the big issues," but still had arguments about various topics. "He wanted more serious issues" in newspapers. Sirius XM CEO Karmazin Likely Out in Takeover TheStreet The recent moves by John Malone's Liberty Media to buy more shares of Sirius XM are expected to lead to an eventual takeover of the satellite broadcaster. CEO Mel Karmazin has said: "I'm not really good at working for somebody. I just could not be a No. 2." NBCUniversal Bashes Diller's Aereo TV Service The Verge NBCUniversal exec Matt Bond: "It makes little sense for cable systems and satellite broadcasters to continue to pay for NBCU content when, with a relatively modest investment, they can simply modify their operations to mirror Aereo's 'individual antenna' scheme." News Corp Profits Increase Despite Scandal New York Times News Corp. said its net income, driven largely by its strong cable TV division, was $937 million in the third quarter. The company has largely appeased investors despite the tumult at its British businesses with a $5 billion stock repurchasing program. Disney CEO Sees Himself as Brand Manager Fortune "In a strange way," said Disney CEO Bob Iger, "I am the brand manager of Disney." Last October, Iger announced that he would step down as CEO in 2015. No decisions have been made yet about his successor. According to observers, the job is "Tom Staggs' to lose." Comcast's NBCU to Freshen Up in New York Variety NBCUniversal will pour $190 million into a two-year initiative to renovate its New York City outposts, including its Rockefeller Center headquarters. CEO Steve Burke announced the plan as construction began on a new commissary. "The food's going to be great." Disney: Digital Revenue Growing in Importance CNBC On the heels of a record-breaking weekend for "The Avengers," Disney reported better-than-expected fiscal second quarter results. CEO Bob Iger said that new digital streams from the likes of Netflix are purely incremental and no signs of cannibalization are seen. News Corp Major Shareholder Sounds Warning Guardian Prince Alwaleed bin Talal, the second biggest shareholder in News Corp., has revealed his frustration with the fallout from the phone-hacking scandal and admitted that it is harming the company's reputation beyond publishing. "It is not helping the name of the company." Media Jobs Booming in New York, Study Says New York Post The media industry employs 275,000 people in New York City and generates $80 billion in economic activity, according to a new report by Boston Consulting Group. The city has added 40,000 media jobs over the past decade — about what the rest of the nation has lost. >> MORE |
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