BUSINESS
April 27, 2012 | Los Angeles Times
Providence Equity Partners is selling its stake in online video service Hulu for about $200 million, according to people familiar with the situation. The move is expected to give at least two of Hulu's media company owners — News Corp. and Walt Disney Co. — a greater ownership stake in the rapidly growing online service. It also would make it easier for the partners to achieve a common strategy for the asset without having a restive investor in the mix. The 5-year-old service has more than 2 million paid subscribers to its Hulu Plus offering and about 38 million visitors a month to its free site, which offers catch-up episodes of such popular shows as "Glee," "Revenge" and "The Daily Show With Jon Stewart.
ENTERTAINMENT
April 20, 2012
Mel Gibson's new movie, "Get the Gringo," rolled into a handful of theaters Wednesday night for what is certain to be the shortest theatrical run in the actor's history: one night. That's because Gibson's latest self-financed film, a $20-million, south-of-the-border crime drama set in a Mexican prison, won't appear in theaters beyond Wednesday's premiere in Austin, Texas, which was simulcast into a few auditoriums around the country. Instead, "Get the Gringo" will skip a theatrical run and become available on the satellite service DirecTV on May 1 in one of the boldest bets on video-on-demand programming.
BUSINESS
March 9, 2012 | By Joe Flint, Los Angeles Times
Relax, TV programmers. The teen viewer isn't going anywhere. The perception of today's teenagers is that of antsy kids bouncing back and forth between their computer screens and cellphones as they update their Facebook statuses and look at videos on Hulu and YouTube while texting their friends. The reality is that for all the time teens spend staring at small screens, it's still the television screen that gets most of their attention. "There is a popularized notion of the typical teenager constantly digitally connected....
BUSINESS
January 13, 2012 | By David Lazarus
Here's your fight-the-power Friday roundup of consumer news from around the Web: --Christmas wasn't kind to the video game industry. U.S. sales of video game hardware, software and accessories fell 21% in December from a year ago, to $3.99 billion, as players bought fewer games for their aging consoles, according to market researcher NPD Group. The month's poor performance was unexpected given the quality of new games, including Call of Duty: Modern Warfare 3, which was the top-seller, and Just Dance 3, which placed second.
BUSINESS
January 2, 2012 | By Meg James, Los Angeles Times
Migration has always been crucial to the success of the Phelps family of Venezuela. The study of bird migration led William Henry Phelps, a Harvard student, to South America in 1896. The ornithologist would go on to become one of Venezuela's most prominent businessmen, launching Radio Caracas, one of the country's first radio stations, in 1930 and Radio Caracas Television, its first privately owned television station, 23 years later. But four years ago, the Venezuelan government knocked the family-owned broadcast TV station off the air, accusing it of plotting against President Hugo Chavez and participating in a coup attempt.
BUSINESS
December 31, 2011 | Meg James
"Community," NBC's quirky Thursday night comedy, has been a slacker in the ratings. The sitcom about misfit community college students, starring Joel McHale and Chevy Chase, has averaged about 4 million viewers an episode this season, not enough to guarantee survival in the dog-eat-dog world of network television. The tepid ratings prompted NBC to put the show on hiatus. Still, despite its struggles, the series is headed toward the promised land of syndication. Just a few years ago, a syndication sale for a modest performer like "Community" would have been unthinkable.