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News Corp Invests in Another Real Estate Business

newscorp-1News Corp is really liking the real estate business lately. According to the AP, News Corp has invested in Elara Technologies, a Singapore-based company that operates PropTiger.com, an Indian real estate site. The deal was $30 million for a 25 percent stake.

As part of the purchase, a News Corp exec will join Elara Technologies’ board.

This is the second real estate company News Corp has moved in on (sorry about the pun) in just over two months. In September, News Corp announced that it had purchased Move Inc., which operates Realtor.com.

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Hipsters Annoyed by Vice

VICE_Logo1Vice — the media organization for hipsters, rich kids who dress like they’re poor, terrible artists and other annoying people — is preparing to move to its new headquarters in Williamsburg. As Ad Age reports, the building used to house music venues Glasslands and Death By Audio. Both are now closing, and that has angered the locals:

During one of Death by Audio’s final shows on Tuesday, Tim Harrington of the band Les Savy Fav took the stage with ‘Suck It Vice’ written across his body

Last week, during a do-it-yourself art show at Death By Audio, someone painted ‘Fuck You Shane’ on a wall, presumably a reference to Shane Smith, Vice‘s co-founder and CEO

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Turner to Remove TNT, TBS from Dish Lineup

Turner broadcasting GThere is nothing quite as fun as when a cable conglomerate and a satellite provider fight over pricing. This is because both end up blaming the other side, and hilariously plead with customers to help them win the battle.

Such is the case with Turner Broadcasting and Dish Network. Their argument continues to escalate, as Turner is now threatening to remove TNT and TBS from Dish if a new deal isn’t reached by December 5.

In a statement, Turner — of course — said this is all Dish’s fault.

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The Onion Might be For Sale

The Onion logo GThe Onion might be up for sale. Or, in Onion language, Media Company Hopes Someone Buys Sinking Ship. According to The Chicago Tribune, Onion Inc., publisher of The Onion, AV Club and Clickhole, have hired the investment bank GCA Savvian to explore a possible sale.

The Onion has been making changes for the past few years. In 2012, it moved all editorial operations out of New York and consolidated them in its Chicago headquarters. Then just last year, The Onion ceased all print editions and went digital only. “It’s sad to see a print edition no longer exist, but it’s important to see the Onion succeed,” Mike McAvoy, president of Onion Inc., said at the time.

Here’s hoping that if The Onion is sold, it keeps its spirit intact.

Dow Jones Ends Sunday Journal and Wall Street Journal Radio

dow_jones_logo_detailDow Jones is looking to cut costs, which means say goodbye to Sunday Journal and the Wall Street Journal Radio Network. In a memo obtained by Jim Romenesko, Dow Jones CEO William Lewis explained that while some businesses have succeeded, “it will come as no surprise that in order to do even more, we must do fewer things that are not core to our business so that we can move faster in pursuit of our goals.”

Here are Lewis’ notes on Sunday Journal and the Wall Street Journal Radio Network:

In the U.S., Sunday Journal from The Wall Street Journal, which provides content to partner newspapers each weekend, will come to a close over the coming months. We have an extremely strong offering in the very successful WSJ Weekend and will continue to work to grow that audience.

The Wall Street Journal Radio Network, which includes MarketWatch Radio and provides content to affiliate stations in the U.S, will cease operations at the end of the calendar year. As we move away from the terrestrial radio business, we will continue to build out our digital audio capabilities and offerings.

Time Inc. Searches for People Exec Editor

Time Inc. needs People to rake in the cash, and so it is on the hunt for an executive editor to oversee the magazine. According to The New York Post, Time Inc. CEO Joe Ripp has hired executive search firm Edon Zehnder to find the person, who will also oversee Entertainment Weekly.

People, which has long been Time Inc.’s biggest earner, has struggled recently. If People falters, Time Inc. does too. It’s not just People though. Ripp admitted during an earnings call that many of the companies weeklies were underperforming.

“Late in the quarter, our print advertising revenues weakened principally across our entertainment news and sports titles, and these booking trends have continued into the fourth quarter,” said Ripp.

Whoever ends up with the executive editor role will have plenty of work to do.

AOL Still Has 2.2 Million Dial-up Subscribers

AOL has released its third quarter earnings and guess what? There are still people out there — 2.2 million of them — who use the company’s dial-up Internet service.

Thanks in part to those who prefer to live like it’s 1996, AOL’s membership division posted $196 million in revenue this quarter. Ad revenue for the company was up 18 percent, to $473 million. AOL’s total revenue was up 12 percent compared to last year.

“AOL is a leader in global content, video, mobile, and programmatic advertising and is positioned directly at the center of the most disruptive changes happening online and offline in culture and code,” said Tim Armstrong, AOL’s CEO, in a statement.

That’s swell.

All we want to know is, of the 2.2 million AOL dial-up subscribers, how many have heard the new Ugly Kid Joe album? It’s well worth a listen.

Book Sales Help News Corp’s Bottom Line

News Corp logo GNews Corp has reported its first quarter earnings, and while the newspaper business continues to struggle, the company did well via support from strong book sales.

Revenue from publishing companies HarperCollins and Harlequin Enterprises increased by 24 percent to $406 million in the first quarter. News Corp also benefitted from a jump in digital real estate revenue, which jumped 24 percent.

Those increases were enough to offset a three percent drop in revenue in News Corp’s news and information unit, which includes Dow Jones.

Overall, News Corp continues to chug along. Total revenues for the company increased by four percent to $2.15 billion.

Time Inc. Revenue Increases

time-inc-logo1Time Inc.’s third quarter report reveals that revenue increased despite some problems that impact the entire industry: Declining print and circulation sales.

Revenue for the third quarter increased to $821 million, up from $818 million during the same period last year. That was good enough to beat Wall Street’s expectations, which predicted the company would post revenues of $817 million.

Time Inc., like most publishing companies, still had to contend with plummeting numbers related to print.

Print revenue was only down one percent, but would have declined by nine percent if not for “corporate transactions,” like Time Inc.’s acquisition of American Express Publishing. Likewise, circulation revenue — which includes subscriptions and newsstand sales — declined two percent; but excluding the transactions, would’ve declined by five percent.

Condé Nast Moves to One World Trade Center

The first wave of Condé Nast staffers are settling into their new digs at 1 World Trade Center this morning. The publishing house will occupy floors 20 through 44. It purchased the space — 1.2 million square feet — in 2012. But enough about that. We know you’re wondering which editor and staff will be on which floor.

According to The New York Times, Graydon Carter and Vanity Fair staffers have won that competition. While Condé’s CEO Chuck Townsend and other execs will be on the 42nd floor, Carter and Vanity Fair will be on the 41st. David Remnick and The New Yorker will take over the 38th floor; Anna Wintour and Vogue will take the 25th. The 44th floor will be occupied by Condé’s law firm.

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