Jennifer's Feed
May 24, 2013

News Corp’s publishing business to initiate stock buyback

May 24 (Reuters) – News Corp set the distribution
ratios for the spinoff of its publishing business, which may
start buying back stock right away.

The board of the publishing business, which will retain the
News Corp name, authorized a $500 million stock repurchase
program, the company said on Friday.

May 23, 2013

Pandora reports higher revenue on mobile advertising

May 23 (Reuters) – Pandora Media Inc said
first-quarter revenue grew 58 percent to $128.5 million on the
strength of mobile advertising and new subscribers to the online
streaming music service.

Mobile revenue on a non-GAAP basis nearly doubled in the
quarter to $83.9 million.

May 20, 2013

Yahoo buying Tumblr for $1.1 bln, vows not to screw it up

May 20 (Reuters) – Yahoo Inc said it is buying
blogging service Tumblr for $1.1 billion cash, giving the
struggling Internet pioneer a much-needed platform in social
media to reach a younger generation of users.

The deal, announced on Monday, is a bold bet by Yahoo Chief
Executive Marissa Mayer to revitalize the company by co-opting a
Web property with strong visitor traffic but little revenue.

May 17, 2013

Syria government supporters hack Financial Times

May 17 (Reuters) – The Financial Times’ website and Twitter
feeds were hacked on Friday, renewing questions about whether
the popular social media service has done enough to tighten
security as cyber-attacks on the news media intensify.

The Syrian Electronic Army, an online group that supports
Syrian President Bashar al-Assad, was behind the incident which
followed a phishing attack on the company’s email accounts, FT
reported on its website.

May 17, 2013

Bloomberg appoints former IBM chief to advise on data issues

NEW YORK, May 17 (Reuters) – Bloomberg LP appointed former
IBM Chairman and CEO Samuel Palmisano as an independent adviser
on security and data issues, as the company seeks to address
customers’ concerns about possible breaches in the
confidentiality of their usage data.

The news and financial data company said on Friday that
Palmisano will report to its board of directors and he will
immediately undertake a review of current policies for client
data and end-user information.

May 11, 2013

Fed queries Bloomberg over reporters’ access to client data

May 11 (Reuters) – Bloomberg LP customers, including the
U.S. Federal Reserve and the U.S. Treasury, were examining on
Saturday whether there could have been leaks of confidential
information, even as the media company restricted its reporters’
access to client data and created a position to oversee
compliance in a bid to assuage privacy concerns.

The financial data and news company, whose computer
terminals are widely used on Wall Street, had allowed
journalists to see some information about terminal usage,
including when customers had last logged in, and how often they
used messaging or looked up data on broad categories, such as
equities or bonds.

May 11, 2013

Bloomberg CEO says client data access for reporters a mistake

By Lauren Tara LaCapra and Jennifer Saba

(Reuters) – Bloomberg LP customers, including the U.S. Federal Reserve and the U.S. Treasury, were examining on Saturday whether there could have been leaks of confidential information, even as the media company restricted its reporters’ access to client data and created a position to oversee compliance in a bid to assuage privacy concerns.

The financial data and news company, whose computer terminals are widely used on Wall Street, had allowed journalists to see some information about terminal usage, including when customers had last logged in, and how often they used messaging or looked up data on broad categories, such as equities or bonds.

May 8, 2013

AOL shares sink as websites still lose money

By Jennifer Saba

(Reuters) – Online media group AOL Inc said on Wednesday that first-quarter revenue grew on strength in its advertising business, but shares sank on concerns that profits were still mostly coming from a shrinking dial-up platform.

The stock tumbled 10 percent to $37.35, the second worst decline in the past 18 months, signaling that some investors were not sold on AOL’s strategy of building its business on content.

May 7, 2013

Demand Media revenue and profit beat estimates

May 7 (Reuters) – Demand Media reported on Tuesday
better-than-expected first quarter revenue and profit on growth
at its media websites like eHow, Livestrong and Cracked.

Demand Media makes its money in two ways. In its media
business, freelance writers, photographers and videographers
provide articles and videos designed to appear at the top of
Internet search that in turn generate advertising. The other is
a registrar business that maintains top level generic web domain
names like “.actor” and “.social.”

May 1, 2013

Viacom and CBS beat expectations in tough TV ad market

May 1 (Reuters) – Sumner Redstone had a good day on
Wednesday as his two companies Viacom Inc and CBS Corp
reported quarterly results that beat Wall Street
estimates on the back of unexpectedly strong TV advertising
revenue.

Viacom reversed a long ad revenue slide, surprising analysts
by posting growth in the first quarter. CBS reported a profit
that easily beat the most optimistic of Wall Street estimates,
as special events helped its broadcast network increase ad
revenue by 8 percent.