Jennifer's Feed
May 1, 2013

Viacom and CBS beat expectations in tough TV ad market

May 1 (Reuters) – Sumner Redstone had a good day on
Wednesday as his two companies Viacom Inc and CBS Corp
reported quarterly results that beat Wall Street
estimates on the back of unexpectedly strong TV advertising
revenue.

Viacom reversed a long ad revenue slide, surprising analysts
by posting growth in the first quarter. CBS reported a profit
that easily beat the most optimistic of Wall Street estimates,
as special events helped its broadcast network increase ad
revenue by 8 percent.

May 1, 2013

Major media companies top estimates in shaky ad market

By Jennifer Saba and Liana B. Baker

(Reuters) – Some of the biggest U.S. media conglomerates beat earnings expectations on Wednesday, though Time Warner Inc, Viacom Inc and Comcast Corp all showed signs of being susceptible to swings in TV advertising revenue.

Time Warner posted a profit that topped even the most optimistic Wall Street estimate by 4 cents, and Comcast and Viacom both beat expectations by one penny. But all three were just shy of revenue expectations.

Apr 30, 2013

Thomson Reuters profit falls on severance costs

April 30 (Reuters) – Thomson Reuters Corp
reported a 7 percent decline in first-quarter operating profit
because of severance costs and a decrease in revenue at its
Financial & Risk division, which caters to banking clients.

That decline did not change the company’s outlook for the
remainder of the year and it reaffirmed its forecast for 2013
revenue growth in the low single digits.

Apr 30, 2013

Thomson Reuters operating profit falls on severance costs, takes tax charge

April 30 (Reuters) – Thomson Reuters Corp
on Tuesday reported a 7 percent decline in first-quarter
operating profit because of severance costs and a decrease in
revenue at its Financial & Risk division, which caters to
banking clients.

That decline did not change the company’s outlook for the
remainder of the year and it reaffirmed its forecast for 2013
revenue growth in the low single digits.

Apr 25, 2013

New York Times reports lower revenue on ad slide

By Jennifer Saba

(Reuters) – New York Times Co reported a decline in quarterly revenue as the newspaper publisher continues to struggle with weak advertising sales.

The 11.2 percent drop in advertising revenue in the first quarter underscores the pressure that the New York Times faces to increase its subscription revenue, especially for its digital products.

Apr 24, 2013

Analysis: Sleeping ad giant Amazon finally stirs

SAN FRANCISCO/NEW YORK (Reuters) – Amazon.com Inc is known in the advertising industry as the “sleeping giant” because the world’s largest Internet retailer harbors a trove of consumer-spending data that many marketers have called an unrealized opportunity.

Now it’s awakening to the potential. After running ads on its own website for years, the company has taken the first steps toward becoming a true Internet advertising network, using the knowledge garnered from its data to place targeted ads for some of the world’s biggest advertisers across thousands of other websites.

Apr 24, 2013

Sleeping ad giant Amazon finally stirs

SAN FRANCISCO/NEW YORK, April 24 (Reuters) – Amazon.com Inc
is known in the advertising industry as the “sleeping
giant” because the world’s largest Internet retailer harbors a
trove of consumer-spending data that many marketers have called
an unrealized opportunity.

Now it’s awakening to the potential. After running ads on
its own website for years, the company has taken the first steps
toward becoming a true Internet advertising network, using the
knowledge garnered from its data to place targeted ads for some
of the world’s biggest advertisers across thousands of other
websites.

Apr 23, 2013

Broadcast boosts Gannett results, print ads still soft

By Jennifer Saba

(Reuters) – Gannett Co Inc (GCI.N: Quote, Profile, Research, Stock Buzz) reported higher first-quarter revenue and profit on Tuesday, partly on the strength of its broadcast results but newspaper advertising sales were still weak.

Gannett, the largest newspaper chain in the United States, is starting to benefit from a pay model adopted last year for its digital newspaper products.

Apr 22, 2013

Twitter lands ad agency partnership for major revenue boost

April 22 (Reuters) – Twitter has struck one of its biggest
advertising deals to date with media agency Starcom MediaVest
Group (SMG), the companies said, in the social media site’s
latest effort to boost revenue.

The multi-year agreement, which includes preferred inventory
and a direct pipeline into Twitter’s data feed for media
planning purposes, is worth up to hundreds of millions of
dollars, according to sources familiar with the deal. They
declined to be named because the transaction details are
private.

Apr 22, 2013

News Corp, shareholders agree to phone hacking settlement

By Jennifer Saba and Tom Hals

(Reuters) – News Corp (NWSA.O: Quote, Profile, Research, Stock Buzz) will receive $139 million worth of insurance proceeds in a rare cash settlement that resolves a lawsuit by shareholders alleging the board failed to investigate the company’s phone hacking scandal.

The $139 million, which will be paid by the liability insurance for the board members, is the largest cash settlement in such a derivative case, according to one of the plaintiff’s attorneys.