Jennifer's Feed
Oct 25, 2012

NY Times misses Q3 revenue expectations, stock tumbles

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
12 percent.

The newspaper company said that revenue was up almost 1
percent to $449 million. Still, the result missed the analysts’
consensus estimate of $479.23 million, according to Thomson
Reuters I/B/E/S.

Oct 24, 2012

IAC results beat expectations but shares slump

By Jennifer Saba

(Reuters) – IAC/InteractiveCorp (IACI.O: Quote, Profile, Research, Stock Buzz) easily beat quarterly expectations on the strength of its search business but its shares slumped, which the company said was due to a misinterpretation of its forecast by FactSet Research Systems (FDS.N: Quote, Profile, Research, Stock Buzz).

A research analyst noted though that investors could be disappointed in the outlook, which depicted decelerating search revenue growth.

Oct 24, 2012

NY Times public editor asks if incoming CEO fit to serve

NEW YORK, Oct 24 (Reuters) – The New York Times public
editor has questioned whether incoming chief executive Mark
Thompson, the former head of the BBC, is fit to serve as the
company’s top official as a scandal shakes Britain’s most
prestigious broadcaster.

One Wall Street analyst called for the New York Times Co,
which publishes its namesake newspaper and the Boston Globe, to
delay Thompson taking over the company. That added more pressure
on executives to address the matter on the company’s earnings
conference call on Thursday.

Oct 24, 2012

Search revenue boosts third-quarter results at IAC

By Jennifer Saba

(Reuters) – Media veteran Barry Diller’s IAC/InteractiveCorp (IACI.O: Quote, Profile, Research, Stock Buzz) breezed past quarterly expectations on the strength of its search businesses such as Ask.com.

IAC, a holding company for search, dating and media websites, said on Wednesday that revenue increased 38 percent in the third quarter to $714.5 million.

Oct 24, 2012

NY Times public editor calls into question incoming CEO Thompson

NEW YORK, Oct 23 (Reuters) – The New York Times public
editor has questioned whether the newspaper’s incoming chief
executive, the former BBC head Mark Thompson, is fit to serve as
the company’s top official as a scandal shakes Britain’s most
prestigious broadcaster.

One Wall Street analyst called for the New York Times Co
to delay Thompson taking over the company, adding more
pressure on executives to address the matter on the company’s
earnings conference call on Thursday.

Oct 18, 2012

After 79 years in print, Newsweek goes digital only

By Phil Wahba and Jennifer Saba

(Reuters) – Newsweek, one of the most internationally recognized magazine brands in the world, will cease publishing a print edition after nearly 80 years.

The decision to go all-digital, disclosed in a blog post on its companion website The Daily Beast, is indicative of the shift to media consumption on digital devices such as tablets and mobile phones and underscores the problems faced by newsweeklies in an increasingly commoditized, 24-hour news cycle.

Oct 17, 2012

BBC scandal creates waves for incoming New York Times CEO

By Jennifer Saba

(Reuters) – The erupting scandal at Britain’s public broadcaster, the BBC, over allegations of sexual abuse involving late TV host Jimmy Savile is leading to awkward questions for the New York Times Co’s incoming chief executive, Mark Thompson.

The BBC is facing police and parliamentary inquires into whether Savile, the eccentric host of the BBC’s legendary “Top of the Pops” music show who died last year at the age of 84, sexually abused a group of women and girls — some as young as 13 — over six decades. The probes follow a bombshell report aired earlier this month by rival broadcaster ITV about the allegations.

Oct 15, 2012

Gannett’s 3rd-quarter revenue tops view, profit rises

By Jennifer Saba

(Reuters) – Gannett Co Inc (GCI.N: Quote, Profile, Research, Stock Buzz) reported better-than-expected revenue and higher profit on strong television advertising from the Summer Olympics and the U.S. presidential election and online subscription revenue from its newspapers.

The owner of newspapers and television stations said on Monday that third-quarter revenue rose 3.4 percent to $1.31 billion. Analysts expected revenue of $1.29 billion, according to Thomson Reuters I/B/E/S.

Oct 10, 2012

SiriusXM raises full-year subscriber forecast

By Jennifer Saba and Peter Lauria

(Reuters) – Sirius XM Radio Inc CEO Mel Karmazin said the company will add 446,000 new subscribers for the third quarter and raised its full-year forecast to 1.8 million net additions.

Karmazin gave the updated business outlook for the satellite radio broadcaster while speaking at Liberty Media Corp’s annual investor day on Wednesday. Liberty, controlled by billionaire John Malone, is Sirius’s largest shareholder with a stake of just under 50 percent.

Oct 7, 2012

Insight: The Lex Factor roils Dow Jones

NEW YORK (Reuters) – He’s tearing down walls. He’s tossing out old business models. And he’s dressing down people, publicly and profanely, in the once-buttoned-down halls of Dow Jones & Co., publisher of the august Wall Street Journal.

Lex Fenwick (pronounced FEN-nick), a long-time Bloomberg LP executive, is making his mark on Dow Jones, the News Corp subsidiary where he became chief executive officer earlier this year.