NEW YORK/LOS ANGELES, Feb 7 (Reuters) – AOL Inc
Chief Executive Tim Armstrong tried to tamp down a backlash
after he linked a cut to pension benefits with rising insurance
costs due to two employees’ “distressed babies,” insisting that
the Internet provider was focused on families.
Armstrong’s comments on Thursday during a company town hall
about why it was cutting 401(k) contributions caused a fire
storm on social media overshadowing positive quarterly results
from AOL and marked the second recent instance when a gaffe by
Armstrong left the CEO with some explaining to do.
(Reuters) – News Corp, publisher of the Wall Street Journal, reported a 4 percent decline in quarterly revenue on weaker advertising at its newspapers, but cost cuts helped push profit well ahead of analysts forecasts.
Shares in News Corp rose 4 percent in after-hours trading after closing at $16.02 on Thursday.
Feb 6 (Reuters) – When Olympic athletes line up to compete
this week in Sochi, NBC executives will be going for the gold in
another sport: turning a profit on the $775 million they paid
for TV rights – a prize that has been stubbornly elusive in
Network executives insist profits are possible this time
after NBCUniversal, a unit of Comcast Corp, broke even
on its telecast of the 2010 Summer Olympics in London. The unit
lost $223 million at the last winter games, in Vancouver,
according to General Electric, which owned NBC at the
By Jennifer Saba and Sruthi Ramakrishnan
(Reuters) – AOL Inc on Thursday reported a better-than-expected 13 percent rise in quarterly revenue, helped by higher ad sales and cited its best growth in a decade.
AOL’s shares advanced 6 percent to $50.59 in morning trade after the results were released.
(Reuters) – The New York Times Co reported better-than-expected quarterly revenue and profit on Thursday as advertising sales improved and more subscribed to its flagship newspaper.
Shares of the New York Times rose 5.3 percent to $14.58 in Thursday morning trade after results were released.
(Reuters) – Pandora Media Inc reported higher revenue and profit for the quarter ending in December but said that costs to grow its audience is rising.
The online streaming music company said that earnings per share for this year is expected to be between 13 cents and 17 cents, below analysts expectations of 19 cents per share, according to Thomson Reuters I/B/E/S.
NEW YORK (Reuters) – Time Inc Chief Executive Officer Joe Ripp is reorganizing the structure of the world’s largest magazine publisher and consolidating oversight as it prepares to spin off from its corporate parent Time Warner, according to a memo to staff on Tuesday.
Time Inc is eliminating three operating units – sports and news, lifestyle and entertainment – that divided its stable of titles such as popular U.S. magazines Sports Illustrated and People.
Feb 4 (Reuters) – Gannett Co, which owns the largest
newspaper chain in the United States, reported lower quarterly
revenue and profit on Tuesday but said its television revenues
were expected to jump 100 percent this quarter following its
acquisition of Belo.
Gannett, which is diversifying away from print and toward TV
stations, acquired Belo last year for $1.5 billion, nearly
doubling its broadcast holdings to 43 stations from 23.
NEW YORK (Reuters) – Lex Fenwick’s surprise exit from Dow Jones came after some banks and other financial clients balked at the former chief executive’s ambitious new product, DJX, which sent sales tumbling, according to people familiar with the matter.
Several sources said institutional sales have dropped significantly since the April 2013 launch of DJX, a single Web-based platform that bundles together Dow Jones Newswires, Factiva, the Wall Street Journal and other Dow Jones products for institutional customers.
NEW YORK, Feb 4 (Reuters) – Lex Fenwick’s surprise exit from
Dow Jones came after some banks and other financial clients
balked at the former chief executive’s ambitious new product,
DJX, which sent sales tumbling, according to people familiar
with the matter.
Several sources said institutional sales have dropped
significantly since the April 2013 launch of DJX, a single
Web-based platform that bundles together Dow Jones Newswires,
Factiva, the Wall Street Journal and other Dow Jones products
for institutional customers.