NEW YORK (Reuters) – Time Inc Chief Executive Officer Joe Ripp is reorganizing the structure of the world’s largest magazine publisher and consolidating oversight as it prepares to spin off from its corporate parent Time Warner, according to a memo to staff on Tuesday.
Time Inc is eliminating three operating units – sports and news, lifestyle and entertainment – that divided its stable of titles such as popular U.S. magazines Sports Illustrated and People.
Feb 4 (Reuters) – Gannett Co, which owns the largest
newspaper chain in the United States, reported lower quarterly
revenue and profit on Tuesday but said its television revenues
were expected to jump 100 percent this quarter following its
acquisition of Belo.
Gannett, which is diversifying away from print and toward TV
stations, acquired Belo last year for $1.5 billion, nearly
doubling its broadcast holdings to 43 stations from 23.
NEW YORK (Reuters) – Lex Fenwick’s surprise exit from Dow Jones came after some banks and other financial clients balked at the former chief executive’s ambitious new product, DJX, which sent sales tumbling, according to people familiar with the matter.
Several sources said institutional sales have dropped significantly since the April 2013 launch of DJX, a single Web-based platform that bundles together Dow Jones Newswires, Factiva, the Wall Street Journal and other Dow Jones products for institutional customers.
NEW YORK, Feb 4 (Reuters) – Lex Fenwick’s surprise exit from
Dow Jones came after some banks and other financial clients
balked at the former chief executive’s ambitious new product,
DJX, which sent sales tumbling, according to people familiar
with the matter.
Several sources said institutional sales have dropped
significantly since the April 2013 launch of DJX, a single
Web-based platform that bundles together Dow Jones Newswires,
Factiva, the Wall Street Journal and other Dow Jones products
for institutional customers.
NEW YORK/LOS ANGELES (Reuters) – Budweiser commercials about a returning soldier and a love-struck puppy emerged as winners in the high-stakes brand battle during football’s Super Bowl, as advertisers used Hollywood stars and slick cars to woo consumers.
The Budweiser ads took the two top spots in online buzz immediately following the game, according to iSpot, which tracks video views and social media comments. One showed a soldier coming home to a parade, and the other featured a Labrador puppy and the beermaker’s famous Clydesdale horses.
NEW YORK, Feb 2 (Reuters) – GoDaddy, the company that
provides website domain names, took a page from reality TV on
Sunday night, and aired a commercial in which a 36-year old
engineer quit her job in front of more than 100 million viewers
tuning into the Super Bowl.
The spot starred movie actor John Turturro who introduces
Gwen Dean from Yonkers, New York, who Turturro said wanted to
pursue her dream of puppetry.
LOS ANGELES/NEW YORK, Jan 30 (Reuters) – Celebrity
endorsements are as common during Super Bowl telecasts as pizza
and chicken wings, but this year some advertisers are betting
their brands will need star power more than ever to justify the
$4 million they are paying on average for 30 seconds of time
during the big game.
This year’s contest will feature actress Scarlett Johansson
seductively hawking SodaStream, a machine for making
soda at home, and the “Terminator” Arnold Schwarzenegger
strangely attired in a blonde wig to extol the virtues of Bud
By Jennifer Saba and Sruthi Ramakrishnan
(Reuters) – Viacom Inc said on Thursday it expects advertising revenue from its cable networks like MTV, Comedy Central and Nickelodeon to improve this quarter, sending shares up 2.4 percent.
The media company, which also owns movie studio Paramount Pictures, said higher ratings for its television shows are also helping coax money from advertisers.
NEW YORK (Reuters) – News Corp said Lex Fenwick was leaving as chief executive of Dow Jones, less than two years after taking the helm, an abrupt departure that calls into question the future of its news wires and other products aimed at financial institutions.
Rupert Murdoch’s News Corp, which owns Dow Jones, did not explain the departure but said it was reviewing the one-size-fits-all strategy Fenwick had put in place for its news wires and other products. The bundled product offering that resulted, known as DJX, alienated some of the banks, hedge funds and retail brokers that were its main customers because of its rigid pricing structure.
NEW YORK, Jan 15 (Reuters) – AOL Inc is handing
majority ownership of Patch, a money-losing network of local
news websites, to New York investment firm and turnaround
specialist Hale Global in a joint venture announced by the
companies on Wednesday.
AOL will transfer Patch to a new limited liability company
run by Hale Global. AOL will retain a minority interest.