Jennifer's Feed
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.

Jun 24, 2013

Demand Media acquires e-commerce marketplace for $94 million

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 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.

Jun 20, 2013

Facebook rolls out video for Instagram

By Jennifer Saba

(Reuters) – Facebook Inc introduced video for its popular photo sharing application Instagram in an attempt to go to head-to-head with rival Twitter.

The world’s No. 1 social network said on Thursday its more than 130 million Instagram users can now record and post 15 second videos on the platform.

Jun 18, 2013

Angelina Jolie stunt double sues News Corp over hacking

By Jennifer Saba

(Reuters) – A stunt double for Oscar-winning actress Angelina Jolie has sued News Corp over allegations its British newspapers hacked her phone, the first lawsuit in the United States against the company since the scandal broke two years ago.

The lawsuit, filed on June 13 by professional stunt double Eunice Huthart, said reporters from News Corp’s tabloids The Sun and the defunct News of the World, hacked her mobile phone while she was working for Jolie on location in Los Angeles.

Jun 18, 2013

Exclusive: Facebook reaches 1 million active advertisers

By Jennifer Saba

(Reuters) – Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth.

A vast majority of those advertisers are small business owners who have flocked to the world’s No. 1 social network.

Jun 18, 2013

Facebook reaches 1 million active advertisers

June 18 (Reuters) – Facebook Inc said on Tuesday it
now has 1 million active advertisers globally who used the
platform in the last 28 days, a milestone for the company that
is seeking to revive its revenue growth.

A vast majority of those advertisers are small business
owners who have flocked to the world’s No. 1 social network.