June 14, 2013 |
Rupert Murdoch's divorce from his third wife is likely to test the strength of his prenuptial agreement but not the control of his sprawling media empire. On Thursday, Murdoch filed for divorce from Wendi Deng Murdoch - just two weeks before the media baron is scheduled to divide his global media empire into two companies. News Corp. said the divorce would not affect operations or control of his company. The 82-year-old media titan filed the petition in state court in New York, where the Murdochs maintain their primary residence and where their two preteen daughters attend school.
May 3, 2013 |
Economists are forecasting slow growth in advertising spending for the remainder of 2013 amid encouraging signs from the U.S. labor market. Media companies are doing their best to grab a bigger slice of the pie. This week, Wall Street cheered Viacom Inc.'s ability to raise television ad rates during the first three months of the year because of a ratings rebound at children's channel Nickelodeon. Nickelodeon's ratings were up roughly 9% this year compared with the network's lackluster January-March quarter in 2012.
April 5, 2013 |
Bidders are circling for the popular video website Hulu, including one of the service's initial architects: Peter Chernin, the former News Corp. president. Chernin has long been one Hulu's most passionate advocates. His Chernin Group has offered more than $500 million for the 5-year-old website, according to an executive close to the process who did not want to be identified discussing sensitive information. Other entitities, including technology companies, have expressed interest in buying Hulu, this person said.
February 27, 2013 |
A New York cable company fired the opening salvo in a long-anticipated media war that could give consumers more choices in subscribing to pay television - and upend the way companies have long done business. Cable operator Cablevision Systems Corp. filed suit Tuesday in federal court in New York accusing Viacom Inc., parent of MTV, Nickelodeon and Comedy Central, of anti-competitive behavior. At issue is whether Viacom uses its leverage to force distributors such as Cablevision to carry low-rated networks in return for access to its popular channels, a practice known in the industry as bundling.
February 26, 2013 |
Tribune Co. has hired investment bankers to advise the media company on the potential sale of its newspaper publishing unit. The company announced that it has retained JPMorgan Chase & Co. and Evercore Partners to assess whether to sell the division that includes the Los Angeles Times, Chicago Tribune and six other daily newspapers. The bankers will analyze bids from suitors, but their hiring does not necessarily mean that the assets would be sold. "There is a lot of interest in our newspapers, which we haven't solicited," Gary Weitman, a Tribune spokesman, said in a statement.
February 13, 2013 |
Comcast Corp. is buying out General Electric Co.'s stake in entertainment company NBCUniversal for $16.7 billion, and will take full control of a media conglomerate that includes the NBC network, Universal Studios theme parks, Universal Pictures film studio and cable channels USA Network, Bravo and MSNBC. The purchase comes two years after the Philadelphia cable TV operator acquired a 51% interest in the media company, leaving GE with a 49% stake. Comcast had an option to buy more of GE's interest beginning in July 2014.
January 24, 2013 |
Prominent investors are merging their businesses - including a Spanish-language cable movie channel and a Puerto Rican television network - to form a new public company to be known as Hemisphere Media Group. Investment groups InterMedia Partners VII and Los Angeles-based Azteca Acquisition Corp. said they have agreed to combine their Spanish-language properties and financial resources in a transaction valued at $400 million. Gabriel Brener, a wealthy Los Angeles investor, is contributing the $100 million that Azteca Acquisition, his special-purpose acquisition company, raised in its initial public offering in 2011.
January 17, 2013 |
The new frontier for 3-D projection? Forget movie theaters or television sets. A Fairfield, N.J., company is using state-of-the-art 3-D projection technology to make a 12-story building downtown "vanish. " Pearl Media, which specializes in doing giant outdoor 3-D projections for such clients as Chevy Sonic, Lexus, Hyundai and Twentieth Century Fox Home Entertainment, on Thursday night will use its proprietary 3-D mapping technology and high powered projectors to make a building on West 9th Street look like it has disappeared.
January 7, 2013 |
After the coffee. Before getting over the Redskins' loss to Seattle. The Skinny: Nice to have new episodes of "The Good Wife" back on CBS. It helped me salvage a depressing Sunday of football. Monday's headlines include a look at the dangers of working on reality shows, a recap of the weekend box office, a big exit at Hulu and a new look for an old TV show. Daily Dose: HBO has renewed its deal for movies from Universal Pictures through 2022. The new agreement should pour lots of cold water on the idea that Universal's parent Comcast Corp.
January 1, 2013 |
The new owners of Tribune Co. are betting that television is the key to its future. With 23 local TV stations in 19 cities, including KTLA-TV Channel 5 in Los Angeles, and a national cable network, Tribune has an array of potentially strong properties that will be the foundation of the newly constituted company. Its television station group has been valued at close to $3 billion. In 2011, Tribune's broadcasting operations had revenue of $1.1 billion. "Those stations are great properties in wonderful markets," said Alan Bell, a veteran broadcast industry executive.