Jennifer's Feed
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.

May 8, 2014

News Corp veteran to lead Dow Jones turnaround bid

May 8 (Reuters) – News Corp on Thursday made the
interim appointment of Dow Jones Chief Executive Officer William
Lewis permanent as the company opted for a veteran of Rupert
Murdoch’s empire to oversee a turnaround effort.

Lewis, 45, was named to lead Dow Jones, publisher of The
Wall Street Journal, on an interim basis on Jan. 21 after the
abrupt departure of Lex Fenwick, who was formerly chief
executive of rival financial news provider Bloomberg.

May 8, 2014

News Corp profit beats expectations; newspaper ad sales still weak

By Jennifer Saba

(Reuters) – News Corp (NWSA.O: Quote, Profile, Research, Stock Buzz) reported better-than-expected quarterly profit on Thursday as a result of keeping costs in control even though its newspapers still suffered from declines in advertising revenue and subscriptions sales.

For the quarter ending March, adjusted earnings per share was 11 cents, handily beating analysts’ forecasts of 3 cents.

May 7, 2014

AOL first-quarter profit misses estimate; shares tumble 22 percent

By Jennifer Saba

(Reuters) – AOL Inc on Wednesday reported its quarterly profit fell, missing expectations as it sheds businesses and upgrades its advertising operations, sending its stock tumbling 22 percent.

The digital and media entertainment company posted first-quarter adjusted earnings per share of 34 cents, falling far short of the average analyst estimate of 45 cents and overshadowing growth in revenue and advertising sales.