Jennifer's Feed
Nov 11, 2013

News Corp revenue slumps in first standalone quarter

By Jennifer Saba

(Reuters) – Rupert Murdoch’s News Corp (NWSA.O: Quote, Profile, Research, Stock Buzz) reported a steeper than expected 3 percent decline in revenue in the company’s first quarter that it was split off from its more profitable sister entertainment business Fox, as a steep drop in Australian newspapers took its toll.

The company, which publishes The Wall Street Journal and the Times of London, said net income attributable to common shareholders was $27 million, compared to a loss of $92 million in the same quarter last year.

Nov 7, 2013

Demand Media hurt by search changes at Google

By Jennifer Saba

(Reuters) – Demand Media said on Thursday that a drop in search engine referrals and weak advertising sales sent its revenue down for the first time since the company made its public debut nearly three years ago.

Demand Media, which owns the websites eHow, LiveStrong and Cracked, mainly makes its money from articles and videos that surface high in search results. Its other line of business maintains top-level generic web domain names like “.actor” and “.social.”

Nov 5, 2013

AOL ad sales rise, but Patch websites weigh on profit

Nov 5 (Reuters) – AOL Inc reported
higher-than-expected third-quarter revenue on increased
advertising sales, but earnings fell sharply because of
challenges at its network of community news websites known as
Patch.

The digital media and entertainment company said on Tuesday
it took a pre-tax restructuring charge of $19 million and an
impairment charge of $25 million, both related to Patch, sending
income down 90 percent to $2 million, or 2 cents per share.

Nov 4, 2013

Half of U.S. adult Twitter users consume news on the platform

By Jennifer Saba

(Reuters) – About half of all adult Twitter users in the United States said they get news through the social media platform, mainly on mobile devices, according to a new survey.

The report by the Pew Research Center in collaboration with the John S. and James L. Knight Foundation was released on Monday. The results are based on a the survey of more than 5,000 U.S. adults including Twitter and Facebook users.

Oct 31, 2013

FT Chief Ridding: no plans to kill its pink pages

NEW YORK (Reuters) – The Financial Times plans to retain its famously salmon-hued print edition even as it aggressively ramps up digital distribution, its chief executive said in an interview.

FT Group CEO John Ridding said a “digital first” strategy that will eliminate the paper’s current regional editions in favor of a single global one does not sound a death knell for the physical newspaper.

Oct 31, 2013

Pearlstine returns to Time Inc to lead reorganization

By Jennifer Saba

(Reuters) – Norman Pearlstine is leaving Bloomberg LP to return to Time Inc in the newly created position of executive vice president and chief content officer as the magazine publisher moves to split with Time Warner Inc.

The return of Pearlstine to Time Inc is a homecoming for the man who was the company’s editor-in-chief from 1994 through 2005.

Oct 31, 2013

New York Times revenue rises on subscriptions

By Jennifer Saba

(Reuters) – New York Times Co reported higher third-quarter revenue on Thursday after more readers paid for its flagship newspaper and its digital products.

The company is relying on customers to open their wallets as advertisers pull back from newspapers.

Oct 30, 2013

French online start-up Criteo shares pop in market debut

NEW YORK/PARIS (Reuters) – Shares in French online advertising firm Criteo rose more than 30 percent in its stock market debut on Nasdaq on Wednesday, showing investor appetite for technology start-ups and delivering a payday to its venture capital backers.

Shares in the company, which uses tracking technology to target ads at consumers surfing the web, opened at $31 and were at $41.40 by 1625 GMT, giving the eight-year old start-up a market capitalization of roughly $2.3 billion.

Oct 29, 2013

Thomson Reuters cuts 3,000 jobs, stock rises

By Jennifer Saba

(Reuters) – Thomson Reuters Corp said on Tuesday that new sales of its financial terminals outpaced cancellations in the third quarter for the first time since 2011, and it announced 3,000 job cuts to reduce costs.

The global news and information company’s stock rose more than 2 percent to hit a two-year high on optimism that the positive turn in net sales will translate into stronger revenue growth next year, since terminal subscriptions are signed on an annual basis. Thomson Reuters also announced a $1 billion share buyback program.

Oct 29, 2013

Thomson Reuters financial sales turn corner; company cuts jobs

By Jennifer Saba

(Reuters) – Thomson Reuters Corp (TRI.N: Quote, Profile, Research) (TRI.TO: Quote, Profile, Research) said on Tuesday that new sales of its financial terminals outpaced cancellations in the third quarter for the first time since 2011, and it announced 3,000 job cuts to reduce costs.

The global news and information company’s stock rose more than 2 percent to hit a two-year high on optimism that the positive turn in net sales will translate into stronger revenue growth next year, since terminal subscriptions are signed on an annual basis. Thomson Reuters also announced a $1 billion (623 million pounds) share buyback program.