(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.
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.
(Reuters) – AOL Inc plans to host an “upfront” advertising event aimed at selling online ads through electronic exchanges, making a big bet that the buying and selling of ads will increasingly be handled by machines.
Known in the ad industry as “programmatic,” electronic exchanges allow advertisers to bid on and place ads on a variety of websites – for example, on AOL’s Huffington Post.
(Reuters) – Time Warner Inc (TWX.N: Quote, Profile, Research) said it named a new chief executive to head its magazine titles People, Sports Illustrated and Time, which will soon be separated from the media conglomerate.
It tapped Joseph Ripp, a former Time Inc and AOL executive, to become CEO effective September.
(Reuters) – Time Warner Inc named a new chief executive on Monday to head up its magazine titles People, Sports Illustrated and Time which will be spun off later this year.
It tapped a former Time Inc and AOL veteran, Joseph Ripp, currently CEO of OneSource Information Services, a digital information company. He will take over in September.
(Reuters) – A decline in newspaper advertising dragged down Gannett Co’s second-quarter results, underscoring the company’s need to branch out and find new revenue streams.
Higher broadcast, digital and subscription revenue could not offset newspaper advertising declines, which kept total revenue flat at $1.3 billion, below analysts’ average forecast of $1.33 billion, according to Thomson Reuters I/B/E/S.
Its founder George Zimmer, the man whose deep, gravelly voice has been connected with the company’s ad campaign for more than 25 years, did not appear.
LONDON/NEW YORK (Reuters) – The recall of Rupert Murdoch to a committee of the British parliament over a secret tape of him dismissing the alleged illegal behavior of his journalists is likely to cause personal embarrassment for the world’s most famous media mogul but no criminal charges.
It could, however, further complicate his business dealings in Britain, where his firm has long wanted to take full control of the pay-TV group BSkyB and where it is still locked in negotiations with the government over regulation of the press.
LONDON/NEW YORK, July 14 (Reuters) – The recall of Rupert
Murdoch to a committee of the British parliament over a secret
tape of him dismissing the alleged illegal behaviour of his
journalists is likely to cause personal embarrassment for the
world’s most famous media mogul but no criminal charges.
It could, however, further complicate his business dealings
in Britain, where his firm has long wanted to take full control
of the pay-TV group BSkyB (BSY.L: Quote, Profile, Research) and where it is still locked
in negotiations with the government over regulation of the
NEW YORK (Reuters) – AT&T Inc will buy Leap Wireless International Inc for $1.19 billion, paying almost double the current value of the prepaid mobile service provider as major U.S. carriers scramble to acquire valuable wireless spectrum.
The No. 2 U.S. carrier is offering $15 a share in cash – an 88 percent premium to Leap’s Friday close of $7.98 – to seal the latest of a wave of acquisitions to emerge from a telecoms sector struggling to expand network capacity, as use of bandwidth-hungry smartphones and tablets explodes.