NEW YORK (Reuters) – Ten years ago, Walt Disney Co, having fended off a hostile bid from Comcast, had to make a case why it was better off as an independent company.
It succeeded. Disney’s shares have soared more than 250 percent since.
Now, Time Warner Inc Chief Executive Jeff Bewkes faces a similar moment of reckoning after rejecting a bid for $85 a share from Rupert Murdoch’s Twenty-First Century Fox.
NEW YORK (Reuters) – While advertisers have noticeably reduced advanced spending on TV spots this year, media companies have trained the spotlight on sports and other live programming to draw ad dollars, a top executive from French advertising group Publicis said.
“The emphasis on sports and live programming is the highest I have ever seen it,” Laura Desmond, the global chief executive of Publicis’ media arm, Starcom MediaVest Group, told Reuters in an interview.
By Subrat Patnaik and Jennifer Saba
(Reuters) – The New York Times Co(NYT.N: Quote, Profile, Research, Stock Buzz) said it would cut jobs, including about 7.5 percent of its newsroom positions, as advertising revenue dwindles and new digital products fail to live up to expectations.
The publisher plans to eliminate 100 newsroom jobs and a smaller number of positions elsewhere, offering buyouts and resorting to layoffs if enough employees do not leave voluntarily, according to a letter to staff.
Sept 28 (Reuters) – A proposed merger of Internet pioneers
AOL Inc and Yahoo Inc could create a nimbler
player in Web video, but strong growth, the measure of success
in Silicon Valley, would remain elusive.
Investors are revisiting one of the most speculated Internet
combinations, after activist investor Starboard on Friday
pressured Yahoo to merge with AOL.
SAN FRANCISCO (Reuters) – Activist investor Starboard Value LP said on Friday it has acquired a “significant” stake in Yahoo Inc (YHOO.O: Quote, Profile, Research, Stock Buzz) and urged the Internet company to explore a merger with AOL Inc (AOL.N: Quote, Profile, Research, Stock Buzz).
Shares of Yahoo Inc rose about 4 percent to $40.54 early Friday afternoon, while shares of AOL jumped 2.77 percent to $44.16.
NEW YORK (Reuters) – More than half of Americans believe that brands should drop their sponsorship deals with the National Football League over its handling of players accused of domestic violence, according to a Reuters/Ipsos poll.
Among those surveyed, 30 percent said that the NFL’s largest sponsors should sever their ties permanently with the league, while 24 percent said they should end their sponsorship for this season.
LOS ANGELES/NEW YORK, Sept 19 (Reuters) – When NFL players
strap on their pink shoes and gloves in October for the league’s
annual Breast Cancer Awareness Month campaign, it will be doing
so with one less sponsor, a notable retreat blamed on the
league’s handling of domestic violence.
Crest, Procter & Gamble Co’s dental brand, will no
longer be offering pink mouth guards to NFL players, the company
said on Friday, the first sponsor to publicly withdraw from the
NFL’s signature overture to women.
(Reuters) – Broadcaster Al Jazeera has gone to court to fight former U.S. vice president Al Gore over $65 million in an escrow account that each claims as part of the sale last year of Current TV to the Qatar-based media company.
In a countersuit filed in the Delaware Court of Chancery on Thursday, Al Jazeera is seeking to keep the money that Gore and his former partner Joel Hyatt had sought in a lawsuit filed in August.
NEW YORK, Sept 17 (Reuters) – Amazon.com Inc ramped up its
push into hardware on Wednesday with the debut of six new or
upgraded devices, including a high-end $199 e-reader called the
Kindle Voyage and its cheapest-ever touch-screen tablet.
The No. 1 U.S. online retailer also revamped its basic
Kindle e-reader to include a touch screen. It will cost $79,
about 15 percent more than the current basic model.
NEW YORK (Reuters) – The vast majority of Americans have never heard of Alibaba, the Chinese e-commerce company which is on the verge of potentially the world’s largest initial public offering.
An Ipsos poll conducted for Thomson Reuters found that 88 percent were not aware of Alibaba Group Holding [IPO-BABA.N], which on Monday raised the price range of its initial public offering. The IPO, expected later this week, could overtake the current record, Agricultural Bank of China Ltd’s $22.1 billion listing in 2010.