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Sony rebuffs Third Point. Bezos buys Washington Post.

August 06, 2013|By Joe Flint
  • The Washington Post has been acquired by Amazon founder Jeff Bezos for $250 million.
The Washington Post has been acquired by Amazon founder Jeff Bezos for $250… (Karen Bleier / AFP/Getty…)

After the coffee. Before feeling like I'm back in college with a term paper due. 

The Skinny: Remember pulling all-nighters in college? Well that's what I'll be doing tonight. But that's later, so for now we'll focus on the day's headlines which includes more on the CBS-Time Warner Cable fight and Sony's message to a pesky shareholder. Also Jeff Bezos buys the Washington Post. 

Daily Dose: Over the next few days, analysts will no doubt start trying to put a dollar figure on the CBS-Time Warner Cable fight. There will be estimates on what CBS is losing by not being on Time Warner Cable systems in New York, Los Angeles and Dallas. But analysts will probably only look at the network when the real pain will be felt at the local level by the CBS stations in New York, Los Angeles and Dallas. Meanwhile, don't expect Time Warner Cable customers to start thinking about alternate distributors until football season starts to creep up on us. 

Caught in the middle. While CBS and Time Warner Cable bicker, confused and angry consumers are no doubt wondering why this is happening and when they will get CBS and Showtime back. The feud over distribution fees is providing regular folks a rare view of one of the more dysfunctional aspects of the entertainment industry -- the relationship between programmers and distributors. The Los Angeles Times on the back story of CBS and Time Warner Cable. 

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Thanks but no thanks. Sony Corp. Chief Executive Kazuo Hirai told investor Daniel Loeb that the consumer electronics giant will not spin off its entertainment assets as the hedge fund operator had advocated. In a letter to Loeb's Third Point, Kazuo said "demand for content is increasing its value in a dynamic industry environment, and we believe our entertainment businesses will increasingly benefit from these trends." More from the Wall Street Journal and Los Angeles Times

End of an era. Amazon founder Jeff Bezos has acquired the Washington Post for $250 million, bringing more than 80 years of ownership by the Graham family to an end. Washington Post Publisher Katharine Weymouth, granddaughter of the late great Katharine Graham will remain with the paper. Like most newspapers, the Washington Post has struggled to adjust to the digital age. Bezos will take the paper private and has deep enough pockets to show some patience and hopefully focus on making quality journalism pay rather than what will get the most clicks. Coverage from the Washington Post and New York Times

Tough talk. The Republican National Committee is not too happy with NBC and CNN's plans for movies about Hillary Clinton, who is considered the Democratic front-runner for the 2016 presidential election. In a letter to the heads of NBC and CNN, RNC chief Reince Priebus said the projects appear to be a "thinly veiled attempt at putting a thumb on the scales of the 2016 presidential election." He went on to say the two networks risked being cut out of 2016 debates. Details from Reuters and Variety

PHOTOS: Celebrities by The Times

Inside the Los Angeles Times: Robert Lloyd on the CBS-Time Warner Cable feud. "The Wizard of Oz" in 3-D will have its debut at the Chinese Theatre in Hollywood. 

Follow me on Twitter. I won't be suspended for performance enhancing drugs. @JBFlint.


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