NEWS ABOUT: media conglomerates
media conglomerates stories: 6 news briefs
Conglomerate takes $25 writedown as publishing, Net assets cheapen
Bloomberg Feb 4, 09 6:18 AM CST
(Newser Summary) -
Time Warner reported a shattering fourth-quarter loss of $16 billion, prompted by plunging ad sales and a $25 billion goodwill writedown to reflect the decline in cable, publishing, and Internet assets, Bloomberg reports. While the media conglomerate took a hit from plummeting revenue at AOL and its magazines, rising revenue from cable systems and TV networks softened the blow.
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Media mogul may have to sell CBS stake, too, to placate bankers
New York Times Nov 25, 08 9:11 AM CST
(Newser Summary) -
With debts threatening to consume his media empire, Sumner Redstone is considering selling his family’s 1,500-screen movie theater chain, the New York Times reports. But even that may not be enough to satisfy his bankers, say people briefed on the negotiations. If things get bad enough, Redstone may be forced to give up his majority stake in CBS or Viacom—and insiders say he’d rather lose the network.
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Media bosses Malone and Diller finally
bury the hatchet
Wall Street Journal May 14, 08 8:48 AM CDT
(Newser Summary) -
The months-long feud between media barons John Malone and Barry Diller over IAC spin-offs has ended amicably, the Wall Street Journal reports. Malone's Liberty Media, the majority shareholder in IAC, will drop its opposition to Diller's plans to divide IAC/Interactive Corp into five separate entities. Liberty will have the right to nominate up to 20% of the directors in the new companies.
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Investors want stripped-down, agile company
Bloomberg Dec 28, 07 10:19 AM CST
(Newser Summary) -
What do you do when you take over the world’s biggest media company? If you’re new Time Warner CEO Jeffrey Bewkes, you probably sharpen some knives. Bewkes may soon spin off AOL as well as the conglomerate’s cable and magazine divisions, Bloomberg reports. “There’s nothing special necessarily about being the biggest,” argues one expert who manages 11.3 million Time Warner shares.
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Cable companies fume at limits, and senators protest relaxed regs
Wall Street Journal Dec 18, 07 7:05 AM CST
(Newser Summary) -
The FCC is set to push through new rules on media ownership today, to the consternation of everyone from telecoms to free-speech advocates, writes the Wall Street Journal . The commission will introduce two new regulations: one will allow media companies to buy both newspapers and television stations in the top 20 markets, and the other will limit the market shares of any single cable companies to 30% of the market.
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Picketing Hollywood's money machine
Associated Press Nov 14, 07 2:49 AM CST
(Newser Summary) -
Striking writers waving banners marched on Wall Street to complain that the nation's media giants aren't sharing the wealth from online content. The Writers Guild of America targeted CBS, Disney, Viacom Inc., which owns Comedy Central and MTV; News Corp., owner of the Fox TV and film studios, and others
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