July 14, 2012 |
After more than 31/2 years of bitter legal conflict, the judge in Tribune Co.'s bankruptcy case said he would approve a plan to transfer ownership of the Chicago media company to a group of hedge funds and banks based in Los Angeles and New York. But in a memorandum overruling objections by junior creditors and others, U.S. Bankruptcy Judge Kevin Carey said the plan's proponents first would have to make revisions to reflect recent court rulings. A lawyer in the case said that would require the company to edit the plan and craft a new confirmation order that would be distributed to all parties for review, a process that could extend formal approval until at least late next week.
June 30, 2012 |
WASHINGTON — The U.S. Supreme Court has turned down an appeal by media companies of government restrictions on the ownership of a newspaper and broadcast station in the same market, leaving the rules in place and sending the contentious issue once again back to the Federal Communications Commission. The FCC is in the midst of its periodic review of media ownership rules, which broadcasters and news organizations have argued are outdated in the Internet era. The agency relaxed some of the rules in 2007, after the last review.
May 22, 2012 |
BOSTON - A new generation of consumers who have little regard for historical distribution systems will be what drives media companies to rethink their role as gatekeepers to content. "It always seems to be about the kids," said filmmaker Ed Burns who has taken to releasing his movies on non-theatrical platforms, including Apple's iTunes, and on video-on-demand. Speaking at the National Cable Telecommunications Assn. here, Burns said that young people today "are not nostalgic for the way we consumed entertainment.
May 7, 2012 |
Media companies try to go where the audience is, and that's what Disney's ABC News division and Univision are doing with a deal to create an English-language cable channel for U.S. Latinos. The channel is slated to be up and running by early next year, and the media companies say it will be "a 24/7 news, information and lifestyle network primarily in English that will serve the youngest and fastest-growing demographic in the country. " It's no surprise the media heavyweights would target this crowd.
April 27, 2012 |
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.
April 16, 2012 |
Media outlets, including Tribune Co., the Miami Herald and the Associated Press, on Monday sought to have court documents unsealed in the case of George Zimmerman, charged with second-degree murder in the Sanford, Fla., shooting death of unarmed African American teenager Trayvon Martin. The motions are the latest friction between the public's right to know and the desire of lawyers to protect the interests of defendants, especially in high-profile cases. The court records in the case were sealed last week; normally, they'd be a public document in Florida.
February 18, 2012 |
DreamWorks Animation SKG Inc.announced plans to build a studio in Shanghai in what the Glendale company billed as a landmark agreement with two state-owned Chinese media companies. The creator of the "Shrek" movies said Friday that it was forming Oriental DreamWorks, a joint venture with China Media Capital and Shanghai Media Group, in concert with Shanghai Alliance Investment - an investment arm of the Shanghai municipal government - to establish a family entertainment company in China.
February 17, 2012 |
In the online series "Wolfpack of Reseda," a nerdy character's life is transformed when he believes that he has been bitten by a werewolf in a San Fernando Valley park. 20th Century Fox, which released the series this week, is trying to transform itself too, as traditional media companies seek to tame the threat posed by another predator — the Internet. "Wolfpack of Reseda" is the first made-for-the-Web series from Fox Digital Entertainment, a small division of the 76-year-old West Los Angeles movie studio.
December 22, 2011 |
Looking to capitalize on the burgeoning Asian market, Saban Capital Group and Lionsgate are partnering with a Hong Kong media company to create new pay TV channels and programming. The venture — Celestial Tiger Entertainment — will launch with six channels, including three owned by new partner Celestial Pictures, which boasts one of the largest Chinese movie channels, Celestial Movies, and a large library of Chinese action films. Saban Capital and Lionsgate, Hollywood's largest independent film studio, will contribute the three channels that they jointly own. The two companies began their collaboration nearly two years ago with the formation of Tiger Gate Entertainment.