NEW YORK (Reuters) – Thomson Reuters Corp Chief Executive Tom Glocer is stepping down at the end of the year following a slump in the share price in recent months. He will be replaced by Chief Operating Officer James Smith, a veteran Thomson executive who has run the company’s most successful operations.
The news and information company has undergone a series of structural changes and management shake-ups over the past six months to address the lackluster performance of its Markets business, which mainly serves financial institutions.
NEW YORK November30 (Reuters) – Hearst Magazines expects to reach one million digital subscriptions by the end of next year as more people sign up to read titles on tablet computers, the company’s president told Reuters on Wednesday.
“We do expect in 2012 at some point to be able to have more than a million on e-subscriptions,” Hearst Magazine President David Carey said.
Bobby Kotick — CEO of Activision, “Moneyball” actor -- stopped by the Reuters Global Media Summit on Monday to give us his take on Black Friday (Anecdotally: a success, though Saturday not so much) and to throw some cold water on rival EA’s upcoming release of “Star Wars.”
But it was what his 9-year-old daughter dressed up as for Halloween that really caught our attention. (Hint: Not Brad Pitt)
NEW YORK (Reuters) – Sirius XM Radio Inc (SIRI.O: Quote, Profile, Research, Stock Buzz) CEO Mel Karmazin admits that he doesn’t like playing second fiddle, which could pose a problem in 2012 if Liberty Media Corp (LMCA.O: Quote, Profile, Research, Stock Buzz) increases its stake in the satellite radio operator.
John Malone’s Liberty took a 40 percent stake in Sirius two years ago as part of deal to lend it $530 million so Sirius could stave off bankruptcy. Liberty has the option to increase its holding above 49.9 percent after March 2012.
NEW YORK (Reuters) – AOL Inc, its much larger competitor that is currently seeking a possible sale of its assets.
Several potential bidders interested in Yahoo have signed confidentiality agreements in recent weeks.
Conde Nast just launched the latest product from its digital incubator in time for the holidays called “Santa’s Hideout.” The site is a free gift giving service aimed at children that lets parents set up a list for each child to fill while also allowing parents to don their Santa beard. The items on the lists can be divvied up for Santa only as well as for family and friends.
Santa’s Hideout is using Amazon’s public API which is handling the e-commerce duties of shipping items on the list.
Nov 22 (Reuters) – Online streaming music service Pandora
Media Inc reported a rise in total revenue on strong
advertising sales, beating expectations.
The company said on Tuesday that, for the third quarter
ending October, revenue rose 99 percent to $75 million, beating
analysts’ expectations of $71.4 million, according to Thomson
Penguin Group launched a set of tools for writers who want to self-publish their books in print and digital form, making it the first of the six largest publishing houses in the United States to roll out such an offering.
The Pearson-owned publisher introduced the self-publishing suite through its website Book Country, a site for genre fiction authors who specialize in romance, science fiction, mystery and thrillers and are looking for feedback from other writers.
Between the bazillion ad technology companies all claiming to revolutionize online advertising and an explosion of devices and services that promise to deliver movies straight from the Internet to the TV, it’s a full time job keeping tabs on what can do what.
That’s why Interpublic Group’s Mediabrands launched Media Lab last Thursday, a 5,000 square foot space dedicated to learning and figuring out which end is up with various technologies available to marketers.
Back in September, right before the quarter ended, Viacom trimmed its advertising revenue outlook to high single digit growth from double digit growth. One of only a few media conglomerates to take that step–News Corp, Time Warner, and CBS were much more upbeat–the move prompted some concern among media watchers that advertisers were beginning to slash their budgets on macro-economic concerns.
But that wasn’t the case. It turns out the problem was Viacom specific. As the Sumner Redstone-controlled company disclosed during its fiscal fourth quarter results Thursday, domestic advertising revenue growth slowed in part because of a mid-September ratings plunge kids network Nickelodeon. Total domestic ad revenue across Viacom’s cable networks, which also includes MTV, VH1, and Comedy Central, for FQ4 was up 7 percent versus the third quarter’s climb of 12 percent.