Jennifer's Feed
Aug 6, 2014

Pandora strikes first partnership with digital rights agency

Aug 6 (Reuters) – Pandora Media Inc has partnered with
a global rights agency representing thousands of independent
artists and bands, such as Arcade Fire, Wilco and Lenny Kravitz,
the online streaming music service said on Wednesday.

The partnership with London-based Merlin is the first for
Pandora, meaning it will now have a direct relationship with
more than 20,000 independent record labels and distributors that
represent about 10 percent of the worldwide music market.

Aug 5, 2014

Rupert Murdoch’s Fox abandons Time Warner takeover bid

By Jennifer Saba and Soyoung Kim

(Reuters) – Rupert Murdoch’s Twenty-First Century Fox (FOXA.O: Quote, Profile, Research, Stock Buzz) decided to pull its $80 billion offer to buy Time Warner Inc (TWX.N: Quote, Profile, Research, Stock Buzz) on Tuesday, abandoning plans to create one of the world’s largest media conglomerates.

The surprise announcement appeared to cut short what many investors had viewed as an inevitable battle of attrition over a deal that would have joined two of Hollywood’s biggest studios and TV networks from TNT to Fox News.

Aug 5, 2014

Gannett to spin off newspapers as it focuses on TV

By Supantha Mukherjee and Jennifer Saba

(Reuters) – Gannett Co (GCI.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it would spin off its print operations, including USA Today, becoming the latest media company to separate slower-growing publishing assets from TV and digital properties.

In a widely expected move, Gannett joined the ranks of News Corp (NWSA.O: Quote, Profile, Research, Stock Buzz), Time Warner Inc (TWX.N: Quote, Profile, Research, Stock Buzz) and Tribune Media (TRBAA.PK: Quote, Profile, Research, Stock Buzz), which have all jettisoned print businesses as newspapers and magazines face unprecedented challenges with declines in advertising revenue and readership.

Aug 4, 2014

Murdoch’s Fox expected to push for Time Warner deal on Wednesday

By Jennifer Saba

(Reuters) – Rupert Murdoch’s Twenty-First Century Fox Inc is expected to make an aggressive case for merging with Time Warner Inc during its quarterly earnings call on Wednesday, though people familiar with the company’s plans have said it would not use that forum to raise its bid.

Time Warner is due to report its financial results on Wednesday as well, marking the first time executives from both companies will publicly speak since the offer was first revealed on July 16.

Aug 3, 2014

Exclusive: Goldman group set to buy message system as alternative to Bloomberg

NEW YORK (Reuters) – Wall Street firms led by Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) are close to buying a stake in chat and instant messaging startup Perzo Inc in pursuit of an alternative to a similar application from Bloomberg LP, sources familiar with Goldman’s plans said.

Banks are trying to cut costs as sluggish trading volumes and higher regulation weigh on revenues. Bloomberg has dominated messaging on Wall Street for years, but its application is part of a data, trading and news terminal that costs about $20,000 a year. The Perzo applications are free.

Aug 3, 2014

Exclusive: Goldman group set to buy message system as alternative to Bloomberg – sources

NEW YORK (Reuters) – Wall Street firms led by Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) are close to buying a stake in chat and instant messaging startup Perzo Inc in pursuit of an alternative to a similar application from Bloomberg LP, sources familiar with Goldman’s plans said.

Banks are trying to cut costs as sluggish trading volumes and higher regulation weigh on revenues. Bloomberg has dominated messaging on Wall Street for years, but its application is part of a data, trading and news terminal that costs about $20,000 a year. The Perzo applications are free.

Aug 3, 2014

Goldman group set to buy message system as alternative to Bloomberg-sources

NEW YORK, Aug 3 (Reuters) – Wall Street firms led by Goldman
Sachs Group Inc are close to buying a stake in chat and
instant messaging startup Perzo Inc in pursuit of an alternative
to a similar application from Bloomberg LP, sources familiar
with Goldman’s plans said.

Banks are trying to cut costs as sluggish trading volumes
and higher regulation weigh on revenues. Bloomberg has dominated
messaging on Wall Street for years, but its application is part
of a data, trading and news terminal that costs about $20,000 a
year. The Perzo applications are free.

Jul 30, 2014

Thomson Reuters reports better-than-expected profit

By Jennifer Saba

(Reuters) – News and information company Thomson Reuters Corp (TRI.N: Quote, Profile, Research, Stock Buzz) (TRI.TO: Quote, Profile, Research, Stock Buzz) on Wednesday reported a higher-than-expected quarterly profit on a 1 percent rise in revenue, boosted by growth in its Tax & Accounting and Legal divisions.

The company also announced a plan to buy back up to an additional $1 billion in shares through the end of 2015 after completing a $1 billion program announced last October.

Jul 29, 2014

NY Times forecasts further decline in print ad revenue

July 29 (Reuters) – The New York Times Co reported a
dip in second-quarter revenue as print advertising revenue
erased the previous quarter’s rise, and the company expects
print ad revenue to continue to decline in the future.

Shares of the company dropped almost 6 percent to $13.30
during Tuesday morning trading after the results were released.

Jul 24, 2014

Activist Elliott Management sets its sights on IPG

By Liana B. Baker and Jennifer Saba

(Reuters) – Activist hedge fund Elliott Management has taken a 6.7 percent stake, worth about $570 million, in advertising firm Interpublic Group of Cos Inc (IPG.N: Quote, Profile, Research, Stock Buzz), setting up a showdown that could result in a sale.

The $24 billion hedge fund run by Paul Singer disclosed in a regulatory filing on Thursday that IPG’s shares “are undervalued and represent an attractive investment opportunity.” Elliott said it wants to “engage in a constructive dialogue” with the company’s board of directors to maximize shareholder value.