August 4, 2010 |
Sidney Harman, the stereo industry magnate who announced Monday that he was buying Newsweek magazine, has made a lot of money in his life. Harman, who turns 92 this week, told the staff at the ailing newsweekly that he was not all that interested in making more, at least from his new acquisition. "I'm not here to make money," he told them, according to a Newsweek published account. "I'm here to make joy." They could use some. Newsweek, which has about 325 employees, hasn't made a profit since 2007 and lost about $30 million last year.
June 1, 2010 |
A cable television commercial for the Redondo Beach restaurant Eat at Joe's features high-definition video, a cast of 40 and a catchy jingle that will leave you humming. Particularly enthusiastic about the slick new ad was Alex Jordan, the restaurateur who decided to take the plunge into television advertising after meeting an Altadena couple who were starting their own ad agency. They wrote and produced the 30-second spot for $5,000, and they helped him broker a deal to deliver it to 300,000 homes for $1 every time it ran. In a still tough economy in Southern California, hard times in advertising and media have led to a surprising bonanza for small businesses seeking to market themselves.
June 4, 2009 |
The California Supreme Court appeared divided Wednesday over how to handle a $15.6-million jury verdict won by a model who discovered his face on a jar of Taster's Choice coffee. The case is being closely watched by the entertainment and media industries. The Motion Picture Assn. of America and the Los Angeles Times have sided with Nestle USA Inc.
November 11, 2008 |
Tribune Co., owner of the Los Angeles Times, Chicago Tribune and other media properties as well as the Chicago Cubs and Wrigley Field, said Monday that it lost $121.6 million in the third quarter as newspaper advertising revenue fell. The privately held company's net income a year earlier was $152.8 million. Revenue fell 10.5% to $1.04 billion from $1.16 billion, the company said.
May 16, 2008 |
In its biggest and boldest move onto the Web, agreed Thursday to buy the Internet media company CNET Networks Inc. for $1.8 billion in a deal that drew flak from critics for its high price and its daunting management challenges. Flush with cash and hoping to vastly expand its Internet advertising reach in a single stroke, CBS announced that it would pay $11.50 a share in an all-cash tender offer for CNET. That is a 45% premium over Wednesday's closing price and turns CBS into a white knight for CNET, which is embroiled in a proxy fight against a dissident shareholder group.
May 9, 2008 |
A continued weak advertising environment resulted in an 8% decline in first-quarter operating revenue and a 16% drop in operating cash flow for Tribune Co., parent of the Los Angeles Times, KTLA-TV Channel 5, the Chicago Tribune and other media holdings. However, because of Tribune's conversion to a tax-advantaged, employee-owned company in December, it posted a one-time, $1.86-billion income tax adjustment that resulted in net income of $1.82 billion for the quarter that ended March 31, compared with $11 million in the same 2007 period.
February 27, 2008 |
Liberty Media Corp.'s proposed purchase of a controlling stake in El Segundo-based DirecTV Group Inc. cleared its last major regulatory hurdle as U.S. antitrust officials said they wouldn't block the $12-billion deal. A probe didn't support action against the transaction, Justice Department spokeswoman Gina Talamona said. The Federal Communications Commission put conditions on the deal, requiring Liberty Chairman John Malone to sell one of the two TV services he controls in Puerto Rico, or insulate himself from the day-to-day management there.
December 25, 2007 |
It's the height of election season, and Pakistani television audiences might expect the airwaves to be crackling with live campaign coverage, argumentative talk shows and sharp-tongued political commentary. Instead, two weeks before this country's most hotly contested parliamentary vote in years, broadcast outlets operate under a stringent code of conduct imposed by President Pervez Musharraf during a six-week period of emergency rule that ended this month.
December 21, 2007 |
For more than 40 years, Martha Campbell has started her day by picking up a copy of the Chicago Tribune. As a youngster, she scoured the pages to make sure the country hadn't gone to war with the Soviet Union. As a parent, she got up hours before her three children woke to study the opinion pages and read the feature stories. Now, as a retiree, she turns to the crossword puzzle -- and also sadly tracks the stories about her beloved hometown paper's fading fortunes.
December 21, 2007 |
The new chairman has vowed to 'rearrange' the staid Tribune Co. for the 21st century. But how? For starters, he brought five fresh faces onto the board to replace what he called 'burghers' from Chicago's business and social elite. He gave the maverick owner of the Las Vegas Sun and Vegas.com a stake in the business. And his chief broadcast deputy inked a deal with another TV station group. That was Day 1. -- Sam Zell may have found his newspaper guru in an unexpected place: Las Vegas.