Jennifer's Feed
Nov 12, 2012

Facing challenges, Mark Thompson takes the CEO reins at the NYT

By Jennifer Saba

(Reuters) – A host of challenges confront Mark Thompson as he officially takes over as chief executive of New York Times Co, from making the company less dependent on advertising to trimming costs to figuring out what to do with its pile of cash.

Sizable as the tasks are, Thompson, who reported for work as the Times Co’s CEO for the first time on Monday, is also dealing with questions resulting from a series of scandals that have rocked his former employer, the BBC.

Nov 12, 2012

Former BBC chief Mark Thompson set to take reigns at New York Times

By Jennifer Saba

(Reuters) – The New York Times Co (NYT.N: Quote, Profile, Research) said it will proceed with its plan for Mark Thompson to take over as CEO on Monday, despite an intensifying scandal at the BBC that has raised questions about his tenure at Britain’s flagship broadcasting company.

“He is going to be CEO beginning November 12,” a New York Times spokesman said on Sunday.

Nov 12, 2012

New CEO set to take reigns at New York Times Co

By Jennifer Saba

(Reuters) – The New York Times Co said it will proceed with its plan for Mark Thompson to take over as CEO on Monday, despite an intensifying scandal at the BBC that has raised questions about his tenure at Britain’s flagship broadcasting company.

“He is going to be CEO beginning November 12,” a New York Times spokesman said on Sunday.

Nov 7, 2012

AOL ad sales, strongest in seven years, boost profit

By Jennifer Saba

(Reuters) – AOL Inc (AOL.N: Quote, Profile, Research, Stock Buzz) reported higher-than-expected revenue and profit on the strongest advertising growth the company has seen in seven years.

At the same time, the company said its subscription revenue had its lowest rate of decline in six years.

Nov 6, 2012

AOL ad sales boost third quarter profits

Nov 6 (Reuters) – AOL Inc reported
higher-than-expected revenue and profit on the strongest
advertising growth the company has seen in seven years.
AOL said on Tuesday that third-quarter revenue was flat at
$531.7 million, ahead of the analysts’ average estimate of
$521.6 million, according to Thomson Reuters I/B/E/S.
Advertising revenue rose 7 percent to $340 million, while
subscription revenue for AOL’s dial-up services fell 10 percent
to $173.5 million.
Subscription revenue had its lowest rate of decline in six
years.
These trends are helping AOL since its turnaround hinges on
the success of getting more online advertising dollars and
reducing its reliance on the lucrative but moribund dial-up
business.
“Things look great,” RBC Capital Markets analyst Andre
Sequin said. “This company is continuing to make steps in the
right direction.”
Still, there are troubling signs in the results. Domestic
display advertising, where AOL is making a big effort, including
with splashy acquisitions such as the Huffington Post, fell 3
percent in the quarter.
That compares with the overall U.S. display ad market
estimated to grow more than 20 percent to $14.98 billion,
according to research firm eMarketer.
AOL’s advertising revenue was lifted by search revenue and
double-digit growth in third-party network revenue.
Display ads are big, pricey units on Web pages favored by
brand advertisers. Third-party network consists of AOL’s Ad.com,
which helps sell ads across other properties. These types of ads
usually command lower prices than display-ad units.
“We weren’t exactly 100 percent drilled and focused on the
advertising strategy the first half of the year. But we are
now,” said AOL Chief Executive Tim Armstrong on a call with
analysts.
“I think overall, what you’re going to see is an operational
improvement around advertising as we get into 2013.”
The company, however, has taken a number of steps over the
year, including selling some of its patents to Microsoft for $1
billion and returning those proceeds to shareholders.
Net income was $20.8 million, or 22 cents per share,
compared with a year-earlier loss of $2.6 million, or 2 cents
per share.
AOL’s third-quarter EPS of 22 cents was well ahead of
analysts’ forecast of 17 cents.
The company raised its estimate for 2012 adjusted OIBDA to
about $400 million from $375 million.

Nov 5, 2012

Demand Media reports record revenue and profit

Nov 5 (Reuters) – Demand Media Inc reported record
quarterly revenue and profit on Monday because more people are
visiting its websites such as eHow, LiveStrong and Cracked.

The better-than-expected results, also buoyed by a
partnership with Google Inc’s YouTube, prompted Demand
Media to raise its full-year outlook.

Nov 2, 2012

Thomson Reuters operating profit down, trading pressured

Nov 2 (Reuters) – Thomson Reuters Corp
reported on Friday a 15 percent fall in operating profit because
of declining revenue and higher costs at its division that
serves the financial industry.

The slip in profit in the third quarter underscored the
problems facing some of Thomson Reuters’ clients, such as banks
and brokerages that are reducing staff and trimming costs to
cope with increased regulation and the struggling global
economy.

Nov 2, 2012

Thomson Reuters operating profit slips, trading faces pressure

By Jennifer Saba

(Reuters) – Thomson Reuters Corp reported on Friday a 15 percent fall in operating profit because of declining revenue and higher costs at its division that serves the financial industry.

The slip in profit in the third quarter underscored the problems facing some of Thomson Reuters’ clients, such as banks and brokerages that are reducing staff and trimming costs to cope with increased regulation and the struggling global economy.

Oct 25, 2012

NYTimes results hit stock; chairman backs incoming CEO

Oct 25 (Reuters) – The New York Times Co posted
worse-than-expected results on Thursday as advertisers cut
spending on both print and digital outlets, sending its shares
down 22 percent.

The weak quarterly earnings came as a scandal is unfolding
at Britain’s public broadcaster the BBC, whose former head Mark
Thompson is due to take the helm at the New York Times Co as
president and CEO on Nov. 12.

Oct 25, 2012

NY Times misses revs view, chairman backs incoming CEO

Oct 25 (Reuters) – The New York Times Co reported
worse-than-expected results on Thursday as advertisers cut
spending on both print and digital outlets, sending shares down
16 percent.

Meanwhile, on a conference call with analysts about the
results, Chairman Arthur Sulzberger Jr. said he supported Mark
Thompson, the incoming president and chief executive, and
addressed the scandal roiling Britain’s BBC, where Thompson
served in the top job until September.