Jennifer's Feed
Aug 12, 2013

News Corp buys online soccer rights in Japan, Vietnam, Indonesia

Aug 12 (Reuters) – News Corp has secured rights to show online digital clips for English Premier League soccer and other leagues in Japan, Vietnam and Indonesia, coinciding with the launch of new Internet and mobile products later this week.

The mobile app and website are News Corp’s first product rollouts since it separated from the cable, television and movie studio assets now known as 21st Century Fox Inc in July.

Aug 7, 2013

Demand Media revenue growth slows on changes at Google

By Jennifer Saba

(Reuters) – Demand Media (DMD.N: Quote, Profile, Research, Stock Buzz), the online content company that operates websites such as eHow and Cracked, said on Wednesday its total year-on-year revenue growth slowed to 9 percent in the second quarter to $101.1 million because of changes in the Google search engine.

During the first quarter revenue rose 17 percent.

In recent years, Demand Media has been hurt when Google (GOOG.O: Quote, Profile, Research, Stock Buzz) adjusts its search algorithm to keep in check the quality of content that surfaces in its search results. Demand relies on high search results for its content which helps bring in advertising revenue.

Aug 7, 2013

AOL to buy video ad platform for $405 million

By Jennifer Saba

(Reuters) – AOL Inc said on Wednesday it would buy Adap.tv, an electronic trading platform that helps companies advertise on video websites, for $405 million in its biggest acquisition under CEO Tim Armstrong.

AOL, which is trying to rely less on its dial-up subscription service, also reported higher-than-expected revenue for the second quarter on an increase in display, search and ads from third-party networks. Its shares rose 2 percent.

Aug 7, 2013

Amazon’s Bezos pays hefty price for Washington Post

By Jennifer Saba

(Reuters) – Jeff Bezos has just shown how valuable one-of-a-kind newspaper properties can still be in the United States.

The multibillionaire founder of online retailer Amazon.com Inc may have paid more than four times the price that the financial results of the Washington Post suggests it is worth.

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.