NEW YORK (Reuters) – New media websites from BuzzFeed to Business Insider are on a roll lately, showered with dollars from venture capitalists betting that they will crack an advertising market that has stymied traditional media companies.
With their mix of top-ten lists, slide shows that highlight the indignities of air travel, eye-catching headlines and thoughtful news, such media start-ups think their fresh approach to working with brands will coax more money from advertisers.
(Reuters) – Rupert Murdoch’s News Corp (NWSA.O: Quote, Profile, Research, Stock Buzz) reported a steeper than expected 3 percent decline in revenue in the company’s first quarter that it was split off from its more profitable sister entertainment business Fox, as a steep drop in Australian newspapers took its toll.
The company, which publishes The Wall Street Journal and the Times of London, said net income attributable to common shareholders was $27 million, compared to a loss of $92 million in the same quarter last year.
(Reuters) – Demand Media said on Thursday that a drop in search engine referrals and weak advertising sales sent its revenue down for the first time since the company made its public debut nearly three years ago.
Demand Media, which owns the websites eHow, LiveStrong and Cracked, mainly makes its money from articles and videos that surface high in search results. Its other line of business maintains top-level generic web domain names like “.actor” and “.social.”
Nov 5 (Reuters) – AOL Inc reported
higher-than-expected third-quarter revenue on increased
advertising sales, but earnings fell sharply because of
challenges at its network of community news websites known as
The digital media and entertainment company said on Tuesday
it took a pre-tax restructuring charge of $19 million and an
impairment charge of $25 million, both related to Patch, sending
income down 90 percent to $2 million, or 2 cents per share.
(Reuters) – About half of all adult Twitter users in the United States said they get news through the social media platform, mainly on mobile devices, according to a new survey.
The report by the Pew Research Center in collaboration with the John S. and James L. Knight Foundation was released on Monday. The results are based on a the survey of more than 5,000 U.S. adults including Twitter and Facebook users.
NEW YORK (Reuters) – The Financial Times plans to retain its famously salmon-hued print edition even as it aggressively ramps up digital distribution, its chief executive said in an interview.
FT Group CEO John Ridding said a “digital first” strategy that will eliminate the paper’s current regional editions in favor of a single global one does not sound a death knell for the physical newspaper.
(Reuters) – Norman Pearlstine is leaving Bloomberg LP to return to Time Inc in the newly created position of executive vice president and chief content officer as the magazine publisher moves to split with Time Warner Inc.
The return of Pearlstine to Time Inc is a homecoming for the man who was the company’s editor-in-chief from 1994 through 2005.
(Reuters) – New York Times Co reported higher third-quarter revenue on Thursday after more readers paid for its flagship newspaper and its digital products.
The company is relying on customers to open their wallets as advertisers pull back from newspapers.
NEW YORK/PARIS (Reuters) – Shares in French online advertising firm Criteo rose more than 30 percent in its stock market debut on Nasdaq on Wednesday, showing investor appetite for technology start-ups and delivering a payday to its venture capital backers.
Shares in the company, which uses tracking technology to target ads at consumers surfing the web, opened at $31 and were at $41.40 by 1625 GMT, giving the eight-year old start-up a market capitalization of roughly $2.3 billion.
By Jennifer Saba
(Reuters) – Thomson Reuters Corp said on Tuesday that new sales of its financial terminals outpaced cancellations in the third quarter for the first time since 2011, and it announced 3,000 job cuts to reduce costs.
The global news and information company’s stock rose more than 2 percent to hit a two-year high on optimism that the positive turn in net sales will translate into stronger revenue growth next year, since terminal subscriptions are signed on an annual basis. Thomson Reuters also announced a $1 billion share buyback program.