Jennifer's Feed
Aug 6, 2013

Fox reports higher revenue, profit on rise in cable

Aug 6 (Reuters) – Rupert Murdoch’s newly separated 21st
Century Fox reported higher revenue and profit because
of growth at its cable operations including Fox News and its
regional sports networks.

Investors had been waiting for years 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.

Aug 6, 2013

Amazon’s Bezos to buy the Washington Post for $250 mln

Aug 5 (Reuters) – Amazon.com Inc founder Jeff Bezos
will buy the Washington Post newspaper for $250 million in a
surprise deal that ends the Graham family’s 80 years of
ownership and hands one of the country’s most influential
publications to the businessman whose Internet company has
transformed retailing.

Bezos, hailed by many as technology visionary, called his
acquisition a personal endeavor and reassured employees and
readers of the 135-year-old newspaper he will preserve its
journalistic tradition, while driving innovation.

Aug 5, 2013

Graham, Bezos hashed out Washington Post deal in Sun Valley

By Jennifer Saba

(Reuters) – Donald Graham, the chairman and CEO of The Washington Post Co, started talking to Amazon.com’s Jeff Bezos less than a month before cinching a $250 million deal to sell the flagship newspaper to the tech entrepreneur.

“I asked him why he wanted to do it and his reasons are the best ones: he believes in what newspapers do and what the Post does and that it’s important to the country,” Graham said in a phone interview on Monday.

Aug 5, 2013

Amazon founder Bezos to buy the Washington Post

By Jennifer Saba

(Reuters) – Amazon.com Inc founder Jeff Bezos will buy the Washington Post newspaper for $250 million in a surprise deal that ends the Graham family’s 80-year ownership and hands one of the country’s most influential publications to the tech entrepreneur.

Bezos, hailed by many as a visionary who helped transform Internet retail, called his acquisition a personal endeavor and reassured Post employees and readers he will preserve the paper’s journalistic tradition, while driving innovation.

Aug 3, 2013

New York Times sells Boston Globe to Red Sox owner

NEW YORK, Aug 3 (Reuters) – The New York Times Co
has agreed to sell The Boston Globe to the principal owner of
the Boston Red Sox baseball team, John W. Henry, for $70 million
in cash, ending its 20-year ownership of the paper.

The transaction announced on Saturday includes the Worcester
Telegram & Gazette, related digital properties of both papers,
and a direct mail marketing company.

Aug 2, 2013

Viacom doubles buyback plan, posts 14 percent revenue jump

By Jennifer Saba and Liana B. Baker

(Reuters) – Viacom Inc reported a 14 percent rise in third-quarter revenue on Friday as the media company posted strong advertising and affiliate fees for its television shows and doubled its share repurchase program.

Shares of Viacom jumped 6.3 percent to $79.05.

The company, which owns cable networks MTV, Comedy Central and movie studio Paramount Pictures, expanded its share buyback program to $20 billion from $10 billion.

Aug 1, 2013

New York Times Co revenue slips on advertising decline

Aug 1 (Reuters) – New York Times Co reported on
Thursday that second-quarter revenue fell almost 1 percent as
gains in subscriptions to its flagship and other newspapers
could not offset declines in advertising.

But the company, which publishes its namesake newspaper, the
Boston Globe and the Worcester Telegram & Gazette, also posted a
better-than-expected profit, and its shares rose 2 percent in
morning trading.

Jul 30, 2013

Thomson Reuters reaffirms outlook; Europe remains challenging

July 30 (Reuters) – Thomson Reuters on
Tuesday posted a 2 percent rise in second-quarter revenue on the
strength of its legal and tax and accounting businesses and
reaffirmed its forecast for 2013.

The global news and information company expects revenue to
grow in the low single digits for the year, and sees underlying
operating profit margin between 16.5 and 17.5 percent.

Jul 29, 2013

Sinclair to buy Allbritton TV stations for almost $1 billion

By Jennifer Saba

(Reuters) – Sinclair Broadcast Group Inc said it will acquire eight television stations from the Allbritton family for $985 million, the latest deal in a flurry of activity to buy local broadcasters.

Allbritton, which is also the publisher of Politico, has 9 ABC affiliated broadcast TV stations, including those that simulcast in markets throughout the United States, including Birmingham, Alabama, and Tulsa, Oklahoma. It also operates a 24-hour cable news network in Washington, D.C., considered the jewel of the portfolio.

Jul 26, 2013

Facebook offers the dummy’s guide to mobile advertising

SAN FRANCISCO/NEW YORK (Reuters) – Facebook Inc’s mobile advertising success offers a ray of hope for Internet companies trying to make money within the confines of the smartphone’s small screen.

The social network’s 75 percent surge in mobile ad revenue in a span of just three months not only doused skepticism on Wall Street and Madison Avenue about Facebook’s business prospects, some say it could serve as a how-to guide for other Web companies navigating a world where the phone and tablet have fast become the screens of choice.