Jennifer's Feed
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.

Jul 14, 2013

Analysis: Charges unlikely, but Murdoch tape won’t help his business case

LONDON/NEW YORK (Reuters) – The recall of Rupert Murdoch to a committee of the British parliament over a secret tape of him dismissing the alleged illegal behavior of his journalists is likely to cause personal embarrassment for the world’s most famous media mogul but no criminal charges.

It could, however, further complicate his business dealings in Britain, where his firm has long wanted to take full control of the pay-TV group BSkyB and where it is still locked in negotiations with the government over regulation of the press.

Jul 14, 2013

Charges unlikely, but Murdoch tape won’t help his business case

LONDON/NEW YORK, July 14 (Reuters) – The recall of Rupert
Murdoch to a committee of the British parliament over a secret
tape of him dismissing the alleged illegal behaviour of his
journalists is likely to cause personal embarrassment for the
world’s most famous media mogul but no criminal charges.

It could, however, further complicate his business dealings
in Britain, where his firm has long wanted to take full control
of the pay-TV group BSkyB (BSY.L: Quote, Profile, Research) and where it is still locked
in negotiations with the government over regulation of the
press.

Jul 13, 2013

AT&T to pay hefty $1.2 billion for Leap in latest telco deal

NEW YORK (Reuters) – AT&T Inc will buy Leap Wireless International Inc for $1.19 billion, paying almost double the current value of the prepaid mobile service provider as major U.S. carriers scramble to acquire valuable wireless spectrum.

The No. 2 U.S. carrier is offering $15 a share in cash – an 88 percent premium to Leap’s Friday close of $7.98 – to seal the latest of a wave of acquisitions to emerge from a telecoms sector struggling to expand network capacity, as use of bandwidth-hungry smartphones and tablets explodes.

Jul 10, 2013

Tribune to separate broadcasting, publishing businesses

July 10 (Reuters) – Tribune Co will separate its
publishing business from its more-profitable broadcast division,
it said on Wednesday, following the path taken by Time Warner
Inc and News Corp.

Media companies have been shedding their print assets to
allow a greater focus on their faster-growing broadcast
businesses.

Jul 1, 2013

Free of newspapers, 21st Century Fox shines

By Jennifer Saba

(Reuters) – Wall Street rewarded Rupert Murdoch’s move to create a separate entertainment company, giving 21st Century Fox (FOXA.O: Quote, Profile, Research) one of the richest valuations in the media sector on its first day of trading.

Investors had waited for Murdoch to split News Corp, giving its cable, movie and equity stakes in pay-TV assets their own spotlight away from the publishing division.

Jul 1, 2013

News Corp gets tepid response from investors after split

By Jennifer Saba

(Reuters) – News Corp shares slipped on Monday, when the company began trading separately from the 21st Century Fox entertainment operation, as investors gave a tepid reception to the slower-growing publishing business.

The new News Corp, which includes publishing assets, such as The Wall Street Journal and HarperCollins, and an education division, gave up its earlier gains on Monday, and its shares fell 2 percent to $14.95. It has a market value of about $9 billion.

Jul 1, 2013

Tribune to buy 19 local TV stations for $2.73 billion

By Jennifer Saba

(Reuters) – Tribune Co said on Monday that it would acquire 19 television stations from Local TV Holdings LLC for $2.73 billion in cash, making it the largest TV broadcaster in the United States.

The purchase from New York private equity firm Oak Hill Capital Partners is another step for Tribune, the publisher of the Los Angeles Times and the Chicago Tribune, in transforming itself largely to a broadcast company as it seeks to sell off its newspaper division.

Jun 28, 2013

New York Times receives multiple bids for Boston Globe: source

By Jennifer Saba

(Reuters) – The New York Times Co has received multiple bids for The Boston Globe, according to a source familiar with the auction of the daily newspaper.

The size and the precise number of the bids by the deadline at 5 pm EDT was not immediately clear though it is likely the New York Times will receive less than 10 percent of the $1.1 billion that it paid for the Globe 20 years ago.

Jun 24, 2013

Demand Media acquires e-commerce marketplace

By Jennifer Saba

(Reuters) – Demand Media, the owner of content websites eHow, Livestrong and Cracked, said on Monday it had acquired the e-commerce marketplace Society6 for $94 million (60.8 million pounds) in cash and stock as the company diversifies its business model.

Society6 marks Demand’s first real foray into e-commerce. With a community of about 300,000 members, Society6 helps artists sell their goods such as iPhone cases, T-shirts and prints directly to consumers.