Jennifer's Feed
Aug 2, 2013

Viacom doubles buyback plan, posts 14 percent revenue jump

By Jennifer Saba and Liana B. Baker

(Reuters) – Viacom Inc reported a 14 percent rise in third-quarter revenue on Friday as the media company posted strong advertising and affiliate fees for its television shows and doubled its share repurchase program.

Shares of Viacom jumped 6.3 percent to $79.05.

The company, which owns cable networks MTV, Comedy Central and movie studio Paramount Pictures, expanded its share buyback program to $20 billion from $10 billion.

Aug 1, 2013

New York Times Co revenue slips on advertising decline

Aug 1 (Reuters) – New York Times Co reported on
Thursday that second-quarter revenue fell almost 1 percent as
gains in subscriptions to its flagship and other newspapers
could not offset declines in advertising.

But the company, which publishes its namesake newspaper, the
Boston Globe and the Worcester Telegram & Gazette, also posted a
better-than-expected profit, and its shares rose 2 percent in
morning trading.

Jul 30, 2013

Thomson Reuters reaffirms outlook; Europe remains challenging

July 30 (Reuters) – Thomson Reuters on
Tuesday posted a 2 percent rise in second-quarter revenue on the
strength of its legal and tax and accounting businesses and
reaffirmed its forecast for 2013.

The global news and information company expects revenue to
grow in the low single digits for the year, and sees underlying
operating profit margin between 16.5 and 17.5 percent.

Jul 29, 2013

Sinclair to buy Allbritton TV stations for almost $1 billion

By Jennifer Saba

(Reuters) – Sinclair Broadcast Group Inc said it will acquire eight television stations from the Allbritton family for $985 million, the latest deal in a flurry of activity to buy local broadcasters.

Allbritton, which is also the publisher of Politico, has 9 ABC affiliated broadcast TV stations, including those that simulcast in markets throughout the United States, including Birmingham, Alabama, and Tulsa, Oklahoma. It also operates a 24-hour cable news network in Washington, D.C., considered the jewel of the portfolio.

Jul 26, 2013

Facebook offers the dummy’s guide to mobile advertising

SAN FRANCISCO/NEW YORK (Reuters) – Facebook Inc’s mobile advertising success offers a ray of hope for Internet companies trying to make money within the confines of the smartphone’s small screen.

The social network’s 75 percent surge in mobile ad revenue in a span of just three months not only doused skepticism on Wall Street and Madison Avenue about Facebook’s business prospects, some say it could serve as a how-to guide for other Web companies navigating a world where the phone and tablet have fast become the screens of choice.

Jul 24, 2013

AOL to host ‘upfront’ for selling ads via electronic exchanges

By Jennifer Saba

(Reuters) – AOL Inc plans to host an “upfront” advertising event aimed at selling online ads through electronic exchanges, making a big bet that the buying and selling of ads will increasingly be handled by machines.

Known in the ad industry as “programmatic,” electronic exchanges allow advertisers to bid on and place ads on a variety of websites – for example, on AOL’s Huffington Post.

Jul 22, 2013

Time Inc getting new CEO ahead of magazine unit spinoff

By Liana B. Baker and Jennifer Saba

(Reuters) – Time Warner Inc (TWX.N: Quote, Profile, Research) said it named a new chief executive to head its magazine titles People, Sports Illustrated and Time, which will soon be separated from the media conglomerate.

It tapped Joseph Ripp, a former Time Inc and AOL executive, to become CEO effective September.

Jul 22, 2013

Time Inc names new CEO ahead of magazine unit spinoff

By Liana B. Baker and Jennifer Saba

(Reuters) – Time Warner Inc named a new chief executive on Monday to head up its magazine titles People, Sports Illustrated and Time which will be spun off later this year.

It tapped a former Time Inc and AOL veteran, Joseph Ripp, currently CEO of OneSource Information Services, a digital information company. He will take over in September.

Jul 22, 2013

Decline in newspaper advertising weighs on Gannett results

By Jennifer Saba

(Reuters) – A decline in newspaper advertising dragged down Gannett Co’s second-quarter results, underscoring the company’s need to branch out and find new revenue streams.

Higher broadcast, digital and subscription revenue could not offset newspaper advertising declines, which kept total revenue flat at $1.3 billion, below analysts’ average forecast of $1.33 billion, according to Thomson Reuters I/B/E/S.

Jul 14, 2013

Zimmer no longer there to “guarantee it” in Men’s Wearhouse ad

By Jennifer Saba

(Reuters) – When a commercial for Men’s Wearhouse (MW.N: Quote, Profile, Research, Stock Buzz) hit the airwaves on July 8, there was one glaring omission.

Its founder George Zimmer, the man whose deep, gravelly voice has been connected with the company’s ad campaign for more than 25 years, did not appear.