Comcast's deal to buy a majority stake in NBC Universal from General Electric should put to rest fears at the cable operator that King Content will kill its business. But even if it becomes a thoroughfare of programming genius, the new venture will still have to convince a skeptical marketplace. The train wreck of Time Warner-AOL threw the idea of new media into financial purgatory.
from Summit Notebook:
In the run-up to the annual Reuters Media Summit, taking place in New York and London next week, we have been asking experts and executives how they think media companies should reinvent themselves for the 21st Century.
Before this week’s dueling Google and Microsoft search licensing deals with Twitter, a recurring rumor in Silicon Valley had Google trying to buy Twitter outright.
If you’ve ever listened to Time Warner chief executive Jeffrey Bewkes speak, you’ll be used to his breezy, languid style. But he sounded even more so than usual on Friday at a conference in Washington D.C. when asked about the big media story of the year so far: Comcast’s bid to take control of NBC Universal.
Few in the media business know dealmaking better than Barry Diller.
So it comes as little surprise that the head of IAC/Interactive was asked about both the Microsoft-Yahoo deal and the AOL separation during an earnings conference call today. He sounded upbeat on both situations.
Anyone want to take a shot at what's behind Time Warner's repurchase of a 5 percent stake in AOL held by Google? Time Warner sold the stake in December 2005 for $1 billion. Now, it has bought it back for $238 million -- a nice job of selling high and buying low. Time Warner plans to spin off AOL by the end of the year.
AOL Chief Tim Armstrong has done several interviews with the press to mark the first 100 days in the role. In most of the articles he explains his focus on advertising primarily built around AOL’s collection of premium content brands.