(Reuters) – Higher paper and digital subscriptions lifted quarterly revenue at the New York Times Co (NYT.N: Quote, Profile, Research, Stock Buzz), even after the company wrote down the value of its Internet property, About.com.
The publisher of the New York Times and the Boston Globe said on Thursday second-quarter revenue grew almost 1 percent to $515.2 million as circulation revenue climbed 8 percent. That exceeded analysts’ average expectation of revenue of $510.9 million, according to Thomson Reuters I/B/E/S.
July 26 (Reuters) – New York Times Co reported
better than expected growth in revenue on Thursday as more
readers paid for its news, showing its plan to charge for its
digital products helped offset declining ad sales.
The company, which publishes its namesake newspaper and the
Boston Globe, said second-quarter revenue rose almost 1 percent
to $515.2 million as circulation revenue climbed 8 percent. That
beat analysts’ average estimate of revenue of $510.9 million,
according to Thomson Reuters I/B/E/S.
Bluefin Labs– a company that tracks a brand’s perception on social media sites while a commercial airs on TV– has named a new CEO. JP Maheu has signed on with the fledgling company as CEO while its co-founder Deb Roy will take up the role of chairman.
Maheu was most recently the global CEO of Publicis Modem, the digital marketing arm of Publicis Worldwide, and has also served stints as CEO of Razorfish and chief digital officer at Ogilvy & Mather.
July 25 (Reuters) – The sale of its patents to Microsoft
helped AOL Inc swing to a profit in the second quarter
from a loss a year ago.
The company reported second quarter net income on Wednesday
of $970.8 million, or $10.17 per share, following a net loss a
year earlier of $11.8 million, or 11 cents per share.
(Reuters) – When Lex Fenwick started his job as CEO of Dow Jones & Co more than five months ago, he found it strange that one of Wall Street’s most historic and well-known brands did not have a direct pipeline into Wall Street itself.
The 130-year-old publisher of Dow Jones Newswires relies on third parties, including rivals Bloomberg LP and Thomson Reuters Corp, to deliver its content to banks, brokers and funds; it does not have its own distribution channel.
July 16 (Reuters) – Gannett Co, publisher of USA
today, reported better-than-expected quarterly earnings on
Monday, sending its shares up 5 percent in early trading.
Gannett, the largest newspaper chain in the United States
and an industry bellwether, said excluding special items, it
earned 56 cents per share, beating analysts’ average forecast of
52 cents, according to Thomson Reuters I/B/E/S.
(Reuters) – DirecTV customers may not see SpongeBob, Snooki or Jon Stewart after midnight on Tuesday because of a heated impasse taking place between the largest U.S. satellite TV provider and Viacom Inc, the company behind the popular cartoon, reality series and political talk show.
In a blog post on Viacom’s website Tuesday, spokesman Mark Jafar wrote that despite Viacom’s “best efforts” DirecTV rejected proposals to renew their contract. Nearly 20 million DirecTV customers will not have access to 26 Viacom channels including MTV and Nickelodeon if a new deal isn’t stuck by midnight Tuesday.
NEW YORK/LONDON (Reuters) – Thomson Reuters Corp (TRI.TO: Quote, Profile, Research, Stock Buzz) (TRI.N: Quote, Profile, Research, Stock Buzz) plans to buy electronic foreign exchange platform FX Alliance Inc (FX.N: Quote, Profile, Research, Stock Buzz) for about $625 million in cash, the news and information group said on Monday, expanding the customer base of one of its key businesses.
Thomson Reuters provides information and trading in the interbank foreign exchange market. The deal will strengthen the company’s offerings to the buy-side investment community, including asset managers, corporations and hedge funds.
AOL has finally decided how to distribute the pile of cash it received from Microsoft when it sold the software titan the majority of its patent portfolio for more than $1 billion, according to AllThingsD’s Kara Swisher, who reported its will be in the form of a buyback. The announcement is expected later this week, Swisher said.
An AOL spokeswoman did not immediately respond to a request for comment.
The patent sale was one of the big sticking points for the activist hedge fund Starboard, which failed in its attempt to gain seats on the AOL board during a proxy fight that played out in mid-June. One battle of many was over who first had the idea of selling the patents–Starboard or AOL. Throughout the spring both sides made their case: AOL had said it was already in the process of auctioning off its patents way before Starboard starting amassing a stake in the troubled Internet company. Starboard alleged it pushed AOL to liquidate the majority of its patents.
(Reuters) – Dow Jones & Co Chief Executive Lex Fenwick shook up the News Corp (NWSA.O: Quote, Profile, Research) unit’s management on Tuesday with a series of executive appointments and departures including the resignation of President Todd Larsen.
Fenwick, a former Bloomberg LP executive, is making his first high profile move since taking the job in February.