Wednesday media highlights

July 9, 2009

Here are some of the day’s stories about the media industry:

News Corp won’t buy Twitter, won’t sell MySpace (Reuters)
Robert MacMillan reports: “Murdoch, who arrived on Wednesday at the Allen & Co investment bank’s Sun Valley media and technology conference, said Twitter would be a tough investment to justify because it has not yet come up with a sustainable way to make money. “Be careful of investing here,” he said of Twitter.”

> Sun Valley: A Who’s Who in pictures (Reuters)
> Sun Valley: David Carr’s advice for reporters (Reuters)

Bertelsmann, KKR launch joint music rights venture (Reuters)
Bertelsmann will contribute its BMG Rights Management music rights unit, whose catalogue includes the work of Kylie Minogue and Roy Orbison, and own 49 percent in the joint venture, which is set to run for five years, the two companies said on Wednesday.”

Wall Street Journal Develops New York–Specific Culture Section (NYO)
John Koblin writes: “Several Journal sources have confirmed to Off the Record that a weekly New York–only arts-and-culture section is in the planning stages up at The Journal’s new Sixth Avenue headquarters. It’s early yet, but in the very near future, a budget will be drafted for the product, an indication that the effort is a serious one.”

PWC’s Global Entertainment and Media Outlook warns of difficult times ahead for print in the ‘digital migration’ (Editors Weblog)
“The Outlook frames the fate of the newspaper and magazine industry within the wider view of the global recession and the attendant structural changes to consumer and advertising habits. The geographical regions with the highest media development are forecast to suffer the most chronically,” writes Christie Silk.

Drop in TV- and Radio Salaries for first time in 15 years (RTNDA)
“Overall, TV news salaries fell 4.4 percent in 2008, and radio news salaries slid by 1.8 percent. Tack on inflation at 3.8 percent, and real wages fell by 8.2 percent in TV news and 5.6 percent in radio news.”

For GQ, a Chinese Edition (NYT)
Richard Perez-Pena writes: “In recent years, as the number of U. S. magazines has changed little, companies like Time Inc., the Hearst Corporation and Condé Nast have started hundreds of magazines in other parts of the world, particularly Europe, India and east Asia, finding new audiences for well-known titles.”

In other news:

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