Jennifer's Feed
Dec 3, 2012

Murdoch keeps News Corp name, Thomson becomes publishing CEO

By Jennifer Saba

(Reuters) – Rupert Murdoch tapped Wall Street Journal managing editor Robert Thomson, a close confidant with little experience on the business side of publishing, as Chief Executive of his new publishing company, which will retain the News Corp name.

Thomson’s appointment coincided with several other announcements related to the impending publishing company spin-off, including the closing of The Daily, the heavily-hyped digital newspaper for Apple Inc’s iPad, and the naming of other key executives.

Dec 3, 2012

Murdoch keeps News Corp name, Thomson is publishing CEO

Dec 3 (Reuters) – Rupert Murdoch tapped Wall Street Journal
managing editor Robert Thomson, a close confidant with little
experience on the business side of publishing, as Chief
Executive of his new publishing company, which will retain the
News Corp name.

Thomson’s appointment coincided with several other
announcements related to the impending publishing company
spin-off, including the closing of The Daily, the heavily-hyped
digital newspaper for Apple Inc’s iPad, and the naming
of other key executives.

Dec 1, 2012

News Corp to name Thomson as Publishing Co CEO next week: sources

By Jennifer Saba

(Reuters) – News Corp (NWSA.O: Quote, Profile, Research, Stock Buzz) is expected to name Robert Thomson, a close confidant of Chairman and CEO Rupert Murdoch, to lead its new publishing company by the end of next week, according to sources familiar with News Corp’s plans.

Thomson is currently managing editor of the Wall Street Journal and editor in chief of its publisher Dow Jones & Co, which News Corp acquired in 2007. Gerard Baker, currently the deputy editor of the Journal, is expected to succeed Thomson, according to these sources.

Nov 15, 2012

Viacom posts higher profit; CEO says MTV is not broken

By Jennifer Saba

(Reuters) – Viacom Inc (VIAB.O: Quote, Profile, Research, Stock Buzz) reported a rise in quarterly profit, defying weak box-office sales and a challenging advertising environment.

The company said on Thursday that fiscal fourth-quarter net income rose 12 percent to $643 million even though revenue fell 17 percent.

Nov 12, 2012

Thompson takes helm at NYTimes, faces stiff challenges

Nov 12 (Reuters) – Mark Thompson reported to work as the New
York Times Co chief executive on Monday, confronting
challenges ranging from making the publisher less dependent on
advertising to trimming costs and figuring out what to do with
its pile of cash.

Thompson is also dealing with questions pertaining to a
series of scandals at the BBC, where he served as
director-general from 2004 until September this year.

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.