By Jennifer Saba

(Reuters) – Online streaming music service Pandora Media Inc reported better-than-expected revenue and raised its full-year guidance as more people tuned in.

The stock climbed 13 percent in extended trading after closing at $10.33 on Wednesday.

May 23 (Reuters) – AOL Inc is reorganizing its
advertising division again, hoping to ignite growth with one of
its major initiatives, big splashy ad formats.

The company said on Wednesday that Ned Brody, formerly chief
revenue officer, will become CEO of the company’s advertising
network, Advertising.com Group.

By Jennifer Saba and Ben Berkowitz

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc is making another bet on the newspaper industry, with a deal to buy the majority of Media General Inc’s papers for $142 million in cash.

Berkshire will also loan $400 million to the company and provide a $45 million credit line. Media General will issue warrants for approximately 4.6 million Class A shares, representing 19.9 percent of its existing shares outstanding.

May 14 (Reuters) – Yahoo Inc (YHOO.O: Quote, Profile, Research) investors welcomed the
appointment of a media veteran as interim chief executive of the
Internet company even as analysts worried that the company’s
strategy would face months of uncertainty.

Yahoo’s shares rose 2.5 percent on Monday after Chief
Executive Scott Thompson stepped down — after just four months
on the job — following a controversy over his academic record
and Yahoo named Ross Levinsohn interim CEO.

By Jennifer Saba

(Reuters) – AOL Inc reported better-than-expected quarterly revenue and profit on Wednesday, although lower premium ad sales in the United States and subscriptions dragged total revenue down.

The company said first-quarter revenue fell 4 percent to $529.4 million, beating analysts’ average forecast of $526.5 million.

May 8 (Reuters) – Demand Media Inc reported
better-than-expected first-quarter revenue and raised its 2012
outlook, suggesting it is finally moving past changes that
Google made to its search engine that hobbled the company last
year.

Revenue, excluding traffic acquisition costs, rose 9 percent
to $82.9 million, the online content company said on Tuesday.
That was above analysts’ average estimate of $79.6 million,
according to Thomson Reuters I/B/E/S.

May 8 (Reuters) – Discovery Communications
reported a lower-than-expected quarterly profit on Tuesday, hurt
by losses at the Oprah Winfrey Network (OWN), sending its shares
down 6.5 percent.

OWN, the joint venture with the “queen of talk” that is
struggling with lackluster ratings, was part of the reason
Discovery reported a nearly 30 percent decline in first-quarter
earnings.

(Corrects 2nd paragraph to show profit fell; company did not post a loss)

By Jennifer Saba

(Reuters) – Discovery Communications reported a lower-than-expected quarterly profit on Tuesday, hurt by losses at the Oprah Winfrey Network (OWN), sending its shares down 5.5 percent in morning trading.

OWN, the joint venture with the “queen of talk” that is struggling with lackluster ratings, was part of the reason Discovery reported a nearly 30 percent decline in first-quarter earnings.

May 8 (Reuters) – Discovery Communications
reported a lower-than-expected quarterly profit on Tuesday, hurt
by losses at the Oprah Winfrey Network (OWN), sending its shares
down 5.5 percent in morning trading.

OWN, the joint venture with the “queen of talk” that is
struggling with lackluster ratings, was part of the reason
Discovery reported an $84 million loss for the first quarter.

By Jennifer Saba and Lisa Richwine

(Reuters) – Walt Disney Co’s ABC News and Univision are teaming up to launch an English-language news and lifestyle network targeting Hispanics, the fastest-growing group in the United States, the companies said on Monday.

The unnamed channel will begin broadcasting in 2013, and ABC and Univision will share news gathering and production costs, the companies said. Each company will own about 50 percent, a person with knowledge of the venture said. Other financial terms were not disclosed.