Summit Notebook

Exclusive outtakes from industry leaders

from MediaFile:

GlobalMedia-ABC News in talks with Bloomberg

MEDIA-SUMMIT/DISNEYThe news divisions at the big networks have been in a world of hurt lately as advertisers seek out younger consumers and viewers. This has lead to big cutbacks in staffing and resources over the years as the networks strive to keep profit margins from deteroirating even further.

ABC is certainly no expectation and has experienced managment upheaval when ABC News president David Westin announced in September his departure partly due to the financial situation and the pressure to increase profit margins.  

Speculation has persisted that ABC News parent company, Walt Disney, has been seeking to untie itself from the division-- rumors that similary dog CBS.

Anne Sweeney, president of Disney/ABC Television Group, flatly denied that the company was looking to offload the news or TV divisions but also confirmed that ABC News has been in talks with Bloomberg in forming a partnership. "We've had a lot of conversatoins with Bloomberg over the past couple of years," she said during Reuters Media Global Summit.

from MediaFile:

Desperately seeking hits: MPG

Are people going to watch more TV because they've no money to go out? According to media buying and planning agency MPG -- a subsidiary of Havas, the world's sixth-largest ad firm -- the answer is no, unless the TV networks come up with better shows.

"That's inventory for us, that's our supply," MPG Chief Operating Officer Steve Lanzano told the Reuters Media Summit in New York. "The thing is, there are no hit shows out there on the big networks," he added. "And if there's no supply in the marketplace, that just makes it harder and harder for us."

from MediaFile:

It’s Midway or the highway for Redstone

Sumner Redstone is selling low -- way low. Here's The Wall Street Journal with the news:

In an effort to help resolve his debt problems, Sumner Redstone has sold his controlling stake in videogame company Midway Games Inc to a private investor.

  •