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Karmazin exiting SiriusXM! Netflix earnings fall. Bad day at Zynga.

October 24, 2012|By Joe Flint
  • Mel Karmazin is leaving SiriusXM.
Mel Karmazin is leaving SiriusXM. (Los Angeles Times )

After the coffee. Before ignoring a new version of the iPad.

The Skinny: For some reason my DVR blew off recording Fox's "New Girl" last night. Any other Time Warner Cable subscribers have the same problem or is mine just possessed? Wednesday's headlines include Mel Karmazin's plans to leave SiriusXM, Netflix stock tumbles after it posts disappointing results, and the National Geographic Channel movie “SEAL Team Six: The Raid on Osama bin Laden" gets some last-minute editing. 

Daily Dose: The World Series starts Wednesday night in San Francisco and Fox is hoping a Tigers-Giants battle will deliver. It's been almost 10 years since a World Series averaged more than 20 million viewers. The last time that happened was when the Boston Red Sox beat the St. Louis Cardinals to end their more than eight-decade dry spell. Last year's World Series, which saw the Cards beat the Texas Rangers in seven games, averaged 16.6 million viewers, according to Nielsen.

Karmazin closes door. Mel Karmazin said he would resign as chief executive of satellite radio broadcaster SiriusXM effective Feb. 1. The move was not a surprise as Karmazin had hinted he would probably resign should Liberty Media, the largest shareholder in SiriusXM, take control of the company. That is on the verge of happening. No replacement for Karmazin was named. When Karmazin joined SiriusXM in 2004, it had only 700,000 subscribers and now it has nearly 25 million. More on Karmazin's exit from the Los Angeles Times and Wall Street Journal.

Netflix takes hit. Netflix stock took a big hit in after-hours trading Tuesday after the company said its third-quarter profit fell 88% (that's not a typo) to $7.68 million. The company also lowered its forecast for domestic growth and said it expects more losses from its efforts to build its international business. Netflix is also facing greater competition from rival streaming services and the television industry, which is offering more of its content online and via video on demand in an effort to keep consumers on their channels instead of on Netflix. Coverage from Bloomberg.

Playing favorites? The television movie “SEAL Team Six: The Raid on Osama bin Laden," which will premiere on the National Geographic Channel two days before the election, has been re-edited to give President Obama a more prominent role. According to the New York Times, "the film has been recut, using news and documentary footage to strengthen Mr. Obama’s role and provide a window into decision-making in the White House." Harvey Weinstein, a big supporter of the president, is a backer of the movie. Ironically, News Corp. is the majority owner of the National Geographic Channel and its chairman -- Rupert Murdoch -- has made no secret of his support for Mitt Romney in the upcoming election.

Taking sides? Armstrong Utilities, a small cable operator with operations in some key election battleground states including Pennsylvania, is offering its subscribers a free look at the controversial documentary "2016: Obama's America," reports the Pittsburgh City Paper.

Jockeying for position. Sumner Redstone, who is chairman of two big media companies (Viacom and CBS), is approaching 90 and even though plans for life without Sumner are in place, sometimes plans go astray. The Hollywood Reporter looks at the potential headaches that could occur if a turf battle breaks out between chief executives Leslie Moonves of CBS and Philippe Dauman of Viacom.

Inside the Los Angeles Times: The social gaming company Zynga is going through some tough times.

Follow me on Twitter for fun and for free. @JBFlint.

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