Jennifer's Feed
Jul 18, 2014

Forbes sells majority stake to Hong Kong group, family remains

By Jennifer Saba

(Reuters) – Forbes magazine’s publisher agreed to sell a majority stake to a group of international investors for an undisclosed sum, Forbes Media said on Friday, capping an eight-month hunt for a buyer for the company.

The Forbes family, which founded the magazine 97 years ago, is retaining a “significant” interest in the company and remains an active part of management, Forbes Media said in a statement. Steve Forbes will continue to serve as chairman and editor-in-chief.

Jul 16, 2014

CNN could be worth $5 billion if it is put up for sale: analyst

By Jennifer Saba

(Reuters) – If Rupert Murdoch succeeds in buying Time Warner Inc and CNN is put up for sale, the 24-hour cable news network could be worth $5 billion, according to one analyst’s estimate.

Gabelli & Co’s Brett Harriss said CNN is worth about 11 times annual estimated earnings before interest, taxes, depreciation and amortization (EBITDA) of $450 million.

Jul 6, 2014

U.S. moves toward opening skies for commercial drones

SEATTLE/NEW YORK, July 6 (Reuters) – The U.S. air safety
regulator is drafting rules to permit small drones to be used
for commercial purposes, a step toward allowing remote-control
planes and helicopters to be deployed for everything from TV
news coverage to monitoring crops.

Media companies, energy companies, farmers and other groups
have been pressuring the Federal Aviation Administration to lift
its ban on flying drones, known as unmanned aerial systems
(UAS), for commercial use. Late last month, the agency’s
watchdog said the FAA was likely to miss the Sept. 30, 2015
deadline that Congress set for integrating drones into the
national airspace.

Jun 17, 2014

NY Times top 3 paid generously given its results, size: analysis shows

NEW YORK (Reuters) – While the New York Times Co has shrunk by more than half in the past eight years, the compensation of the top three executives at the company has held steady. Measured against some key metrics of financial performance at comparable U.S. media companies, their pay is among the most generous, a Reuters analysis shows.

The collective total compensation of Times Co Chairman and Publisher Arthur Sulzberger Jr., CEO Mark Thompson and Vice Chairman Michael Golden, including the value of stock awards and incentive payments, was $11.9 million in 2013, according to the company’s annual proxy statement.

Jun 9, 2014

Time Inc begins new era as magazine industry struggles

June 9 (Reuters) – Time Inc, the magazine company
that is home to People, Sports Illustrated and Time, saw its
shares fall lower on the New York Stock Exchange on Monday in
its first trading session following a spinoff from its parent,
Time Warner Inc.

Led by Chief Executive Joe Ripp, Time Inc will operate on its
own, no longer buffered by its lucrative cousins at Time Warner
Inc such as pay-TV channel HBO or movie studio Warner Bros.

May 20, 2014

Ousted New York Times editor tells graduates to keep fighting

WINSTON-SALEM/NEW YORK (Reuters) – Ousted New York Times editor Jill Abramson struck a defiant note on Monday in her first public remarks since the newspaper fired her, urging a group of university graduates to fight back in the face of adversity.

“Some of you, and now I’m talking to anybody who has been dumped … You know the sting of losing and not getting something you badly want. When that happens, show them what you are made of,” she said during a commencement speech at Wake Forest University in North Carolina.

May 19, 2014

Ousted N.Y. Times editor tells graduates to keep fighting

WINSTON-SALEM/NEW YORK May 19 (Reuters) – Ousted New York
Times editor Jill Abramson struck a defiant note on Monday in
her first public remarks since the newspaper fired her, urging a
group of university graduates to fight back in the face of
adversity.

“Some of you, and now I’m talking to anybody who has been
dumped … You know the sting of losing and not getting
something you badly want. When that happens, show them what you
are made of,” she said during a commencement speech at Wake
Forest University in North Carolina.

May 14, 2014

New York Times unexpectedly replaces top editor Abramson

NEW YORK (Reuters) – The New York Times Co (NYT.N: Quote, Profile, Research, Stock Buzz) on Wednesday abruptly ousted the newspaper’s top editor, Jill Abramson, after less than three years in the job and named managing editor Dean Baquet to replace her.

Abramson, 60, was appointed The New York Times’ first woman editor in 2011. Baquet, a Pulitzer prize-winning reporter and former editor of the Los Angeles Times, will become the paper’s first African-American editor.

May 11, 2014

As big ad deal falls apart, firms start thinking small

NEW YORK/LONDON (Reuters) – The collapse of the $35 billion merger of New York-based Omnicom with France’s Publicis is likely to lead the world’s biggest ad agencies to think small as they try to counter the challenge from internet giants like Google.

Since announcing their merger last July, executives from the two firms touted the creation of the world’s biggest ad agency as the best way to gain scale and capital to compete on price and invest in technology as clients squeeze the agencies on cost.

May 11, 2014

Analysis – As big ad deal falls apart, firms start thinking small

NEW YORK/LONDON (Reuters) – The collapse of the $35 billion (20.7 billion pounds) merger of New York-based Omnicom with France’s Publicis is likely to lead the world’s biggest ad agencies to think small as they try to counter the challenge from internet giants like Google.

Since announcing their merger last July, executives from the two firms touted the creation of the world’s biggest ad agency as the best way to gain scale and capital to compete on price and invest in technology as clients squeeze the agencies on cost.