LONDON/NEW YORK (Reuters) – Rupert Murdoch has returned eldest son Lachlan to the leadership of his media empire and promoted younger son James, setting them up to succeed the 83-year-old tycoon.
Lachlan, 42, will become non-executive co-chairman of both entertainment company 21st Century Fox and publishing operation News Corp, sharing both roles with his father. He rejoins the company after quitting as deputy chief operating officer nearly 10 years ago amid friction with other News Corp executives.
March 26 (Reuters) – A new wave of funding by
technology-savvy investors into U.S. media companies is driving
momentum in journalism, even as news organizations continue to
face challenges, according to a report issued on Wednesday.
The level of media investing activity is forging the
underpinnings of “game-changing” developments for the industry,
according to the Pew Research Center’s State of the News Media
2014 report, which cited funding from entrepreneurs like
Amazon’s Jeff Bezos and eBay founder Pierre
(Reuters) – Readers of some of the top U.S. news sites are more engaged when they go directly to the website rather than through Facebook, according to a study from the Pew Research Center released on Monday.
The research found that users who come directly to a news site spend about three times as long per visit, or almost five minutes on average. Those who find the news by searching or through Facebook spend about two minutes.
March 6 (Reuters) – Media executive Jack Griffin was
appointed on Thursday as chief executive of Tribune Co’s
forthcoming spinoff newspaper company, Tribune
Griffin has served as an adviser to Tribune through
Empirical Media Advisors, the media consulting firm he
NEW YORK, March 5 (Reuters) – Business Insider raised $12
million in another round of capital from investors including
Amazon’s Jeff Bezos, Institutional Venture Partners,
RRE Ventures and former Wall Street Journal publisher Gordon
Crovitz, according to a Wednesday post by its founder Henry
The latest infusion of capital values the media company at
about $100 million – about five times its 2013 revenue,
according to a source familiar with the company.
(Reuters) – News reader company Flipboard said on Wednesday it has bought rival app Zite from CNN and struck a content partnership with the cable news network.
The deal is valued at $60 million, according to the CNN Money website. A CNN spokesman called the valuation “inaccurate” but declined to give details.
(Reuters) – News Corp’s education division Amplify on Monday unveiled a digital curriculum aimed at middle school students in a move to kick-start growth in the unit after years of investment.
The curriculum is for English Language Arts aimed at sixth-, seventh-, and eight-grade students, and features content from a library of e-books, dramatic readings by actors, story animations, and role-playing games about classic authors such as Edgar Allan Poe.
Feb 26 (Reuters) – Facebook highlighted on Wednesday
two ad campaigns in an attempt to persuade advertisers that its
massive membership base and ability to home in on specific
audiences makes it a more effective advertising platform than
The No. 1 social network revealed in a blog post some
details about marketing campaigns from AARP and the American
Legacy Foundation to show how Facebook can target specific age
groups among its audience of more than 1 billion global users,
which rivals the number of people watching TV.
Feb 25 (Reuters) – Demand Media Inc warned on
Tuesday that revenue for this year will continue to decline
because of troubles at its flagship advice website eHow.
Demand Media has been hurt by changes that Google Inc
made to its search algorithm in order for people to
receive higher quality search results.
NEW YORK (Reuters) – BuzzFeed has come a long way from cat lists. This month one of its journalists was on the ground in Kiev reporting on the crisis in Ukraine, and last December it published an in-depth article on a Chinese dissident living in Harlem, New York.
The kittens haven’t disappeared, but these days there is serious journalism as well.