NEW YORK (Reuters) – Playboy Enterprises Inc is in preliminary talks to sell itself to Iconix Brand Group, people familiar with the matter said.
At this point, the goal of Iconix, which owns and licenses clothing brands such as Candies, Joe Boxer, and Rocawear, is to bring in a publishing partner to buy Playboy’s namesake magazine while it would keep the brand licensing part of the company, one of the sources said.
SAN FRANCISCO/NEW YORK (Reuters) – Activision Blizzard Inc’s hugely anticipated “Call of Duty: Modern Warfare 2″ video game went on sale on Tuesday, welcomed by eager fans who lined up hours in advance of the release.
The first-person shooter game is set to be one of the biggest and fastest-selling titles in history, challenging records set by blockbuster releases from the “Grand Theft Auto” series.
NEW YORK/WASHINGTON (Reuters) – Newspaper publishers and other struggling media companies want the U.S. government to help them survive the toughest times they have ever known, mainly by easing rules on how big they can get.
They will be lucky if they get any aid at all.
The Federal Communications Commission held meetings this week with policy experts and consumer groups to see if it should change rules that define how many people newspapers, television and radio stations can reach and that limit their size to protect free speech and allow for healthy competition.
Covering Thomson Reuters Corp for almost two years has taught me that people like to cast my company in a recurring role in media deal parlor games. Now that the company’s arch-rival Bloomberg LP will buy BusinessWeek magazine from McGraw-Hill, lots of my pals in the media world are wondering: Will Thomson Reuters buy a mainstream news or business news magazine? Or newspaper? Why not Forbes? Why not the Financial Times?Keep in mind that Thomson Reuters likes to remind people when they ask these questions that Thomson Corp, before buying Reuters, got out of its Canadian newspaper empire for a reason. (See below)I asked our chief executive, Tom Glocer, a question along these lines on a Thursday phone call he had with reporters to discuss the company’s third-quarter financial results.Here is what he said:
Thomson did a remarkable job, far earlier than any other company I know, of seeing what was coming and transitioning their business out of print for the most part… I don’t see any particular time or reason at this juncture why we should go the other way.
Later on Thursday, when I interviewed Glocer, we returned to this theme. (I can’t help it, I’m a print guy.) I used the Financial Times, owned by Pearson Plc and beloved of its CEO, Dame Marjorie Scardino, as a sample target:Here is Glocer’s reply:
When I came to London, Marjorie was famous for saying she would never sell the FT, or it would go “over my dead body.” There were many years in which the FT had fallen on harder times when people held that up as well: Marjorie has to go before the FT.
NEW YORK (Reuters) – Thomson Reuters Corp <TRI.TO> <TRI.N> reported that quarterly revenue in its markets and legal businesses fell as customers cut costs in the wake of the financial crisis, but its CEO said the worst was over.
The news and financial data publisher, whose shares fell about 1 percent, said on Thursday that third-quarter profit beat Wall Street estimates, helped by foreign currency rates and cost savings.
NEW YORK (Reuters) – News Corp and Time Warner Inc reported higher-than-expected quarterly profit as movie studios and cable network gains helped offset declines at their newspaper and magazine units.
Both News Corp and Time Warner, which have been cutting costs to keep ahead of falling revenue, raised their forecasts, and News Corp Chief Executive Rupert Murdoch said he expected 2010 to be a year of stability.
NEW YORK (Reuters) – News Corp reported a higher-than-expected quarterly profit as gains at its Fox cable network and film divisions, plus cost cuts, helped offset declines at its television stations and newspapers.
Chief Executive Rupert Murdoch said he expected 2010 to be a year of stability and the company forecast its fiscal full- year operating income would grow in the high single to low double-digit percentage range.
NEW YORK (Reuters) – The Washington Post Co posted a higher quarterly profit and a 2 percent increase in revenue on Friday on strength in its education and cable television units, while print advertising revenue at its flagship newspaper fell 28 percent.
Like the Post. most U.S. newspaper publishers, including The New York Times Co, McClatchy Co and Gannett Co Inc, have been reporting declining ad revenue.
NEW YORK (Reuters) – The Wall Street Journal will close its Boston bureau to save money, and shift coverage of the mutual fund industry to its money and investing reporting team, the newspaper’s editor said on Thursday.
“The economic background is painfully obvious to us all,” Journal Managing Editor Robert Thomson told the paper’s employees in a memo. “That there has been truly great reporting… out of Boston over many, many years is not in doubt. But we remain in the midst of a profound downturn in advertising revenue and thus must think the unthinkable.”