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Posts Tagged ‘Fox News’

Morning Media Newsfeed: Time Inc. Struggles | Netflix Shareholders Back Hastings

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Time Inc. Stock Falls in Its Debut (NYT)
Shares of Time Inc., the magazine company that began trading Monday after being spun off from Time Warner, got off to a rough start, falling nearly 7 percent before recovering somewhat. Bloomberg The shares, trading under the ticker symbol TIME, slid less than 1 percent to $23.30 at the close in New York, after earlier dropping by as much as 6.7 percent. Shares of Time Warner, which owns the Warner Bros. movie studio and cable networks such as HBO and CNN, rose 1.2 percent to $68.99. FishbowlNY Last week, Time Inc.’s execs met with editors and asked them to begin the process of cutting 25 percent of editorial spending. That means staffing cuts are coming by the bunches. HuffPost Time Inc. laid off hundreds of employees in 2013 and earlier this year. Some titles, such as People, appear to have already started with their layoffs. Time Inc. is also set to leave its longstanding home, the Time-Life Building, for a cheaper downtown pad. THR Dealmaking could be on the agenda, but unlikely in the form of big acquisitions. Time Inc. was spun off with $1.3 billion in debt. Analysts have compared that to the lack of debt that Rupert Murdoch’s News Corp got when the mogul’s empire was split into two last year. Moody’s recently rated Time Inc.’s debt below investment grade, but other observers said the debt will also allow Time Inc. to show that it can be trusted financially.

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Morning Media Newsfeed: BBC News to Cut 500 | Networks Book Clinton

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BBC News Division to Cut 500 Jobs (Forbes)
BBC News is preparing to announce 500 more job losses, as part of its ongoing cost-cutting program, and that industrial action could well follow. The Guardian Up to 600 job losses are expected to be confirmed in BBC News, with around 80 posts going in BBC Radio, with full details of the cuts expected to be announced next month. Politico / Dylan Byers on Media The cuts, which will be phased in over a two-year period, will reduce BBC’s staff of 8,000 by roughly 6 percent. The Telegraph It currently employs around 5,400 journalists, all of whom are expected to be assessed under an appraisal system throughout this year. James Harding, director of news and current affairs, has already warned staff the BBC is only half way through its cost-cutting drive, with 14 percent of its budget having to be reduced by 2017. HuffPost In February 2013, BBC journalists went on strike to protest job cuts, which, at the time, were rumored to be around 2,000 lost positions in years ahead. Just last month, the BBC offered a 1 percent pay increase to employees earning less than £50,000 — or around $68,000. The small pay raise was blasted by trade unions, calling it “completely unacceptable” and blaming the company’s poor leadership for the cost cuts. BBC employees have reacted similarly to the stirring rumors of the layoffs ahead.

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Morning Media Newsfeed: Prometheus Buys Mediabistro | FNC Books Clinton | Fox’s Reilly to Step Down

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Prometheus Global Media to Acquire Mediabistro (FishbowlNY)
Thursday morning, Mediabistro announced that it has entered into a definitive agreement to sell its editorial and e-commerce assets to PGM-MB Holdings, LLC, a wholly-owned subsidiary of Prometheus Global Media, for $8 million cash. FishbowlDC As part of the deal, PrometheusGM will add to its portfolio mediabistro.com and editorial sites including FishbowlDC, FishbowlNY, TVNewser and PRNewser, as well as the Mediabistro Job Board, and Mediabistro’s education business. THR Prometheus Global Media is the parent company of The Hollywood Reporter, Billboard and Adweek magazines. Mashable The deal still needs shareholder approval, which could happen by mid-July. The tradeshow portion of the company will remain with Mediabistro CEO Alan Meckler under a new company — Mecklermedia. The company’s 3D printing and bitcoin assets are also not a part of the deal. The site gained a following in media circles, particularly in New York and Washington, D.C., thanks in part to its job board and professional skill development courses. The acquisition provides Prometheus with a new cadre of editorial pieces that fit with the company’s other focused media assets. Prometheus also runs the Clio Awards for advertising and the movie event company Film Expo Group. Poynter / MediaWire Mediabistro alums include Brian Stelter, who wrote for TVNewser and now hosts Reliable Sources at CNN, and Patrick Gavin, who worked for FishbowlDC. In 2007, Laurel Touby sold Mediabistro.com for $23 million.

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Morning Media Newsfeed: Angelou Dies at 86 | Williams Interviews Snowden | Amazon Talks Hatchette Dispute

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Medal of Freedom Recipient Maya Angelou Dies at 86 (FishbowlDC)
Poet and author Maya Angelou died Wednesday at the age of 86, according to her literary agent Helen Brann. Angelou received the country’s highest civilian honor — the Medal of Freedom — in 2011 from President Obama, and is most widely known for her award-winning memoir I Know Why The Caged Bird Sings. NYT The cause of death was not immediately known, but Brann said Angelou had been frail for some time and had heart problems. GalleyCat In addition to writing, Angelou proved to be an accomplished Renaissance woman who worked as an activist, entertainer, streetcar conductor, magazine editor, college professor and lecturer. CNN Angelou’s legacy is twofold. She leaves behind a body of important artistic work that influenced several generations. But the 86-year-old was praised by those who knew her as a good person, a woman who pushed for justice and education and equality. In her full life, she wrote staggeringly beautiful poetry. She also wrote a cookbook and was nominated for a Tony. Reuters Literary and entertainment figures, politicians and fans mourned her passing on Wednesday. Obama said his sister, Maya, was named for the author, whom he called “a brilliant writer, a fierce friend and a truly phenomenal woman.” Media mogul Oprah Winfrey, who frequently threw lavish birthday parties for Angelou and considered her a mentor, said she would remember her friend most for how she lived her life. “She moved through the world with unshakeable calm, confidence and a fierce grace,” Winfrey said.

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Morning Media Newsfeed: WH Probes CIA Press Leak | Katz, Lenfest Win Inquirer Bidding | New Abramson/NYT Details

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White House Launches Probe Into CIA Station Chief Disclosure (Politico)
The White House has launched an investigation into how the name of the CIA’s station chief in Afghanistan was released to the press Sunday during President Barack Obama’s surprise visit to U.S. troops there, officials said. TVNewser White House counsel Neil Eggleston will oversee the investigation. FishbowlDC On Sunday as President Obama spoke at Bagram Air Base in Afghanistan, a pool report sent to upwards of 6,000 journalists included the name of a CIA station chief in the country, as one of many briefing the President during his visit. HuffPost The Washington Post’s Scott Wilson, who wrote the pool report, had received the list from White House officials. Wilson included the list as part of a pool report from Obama’s visit to Afghanistan that was distributed Saturday by the White House press office, which later sent out a revised version not including the station chief’s name. Despite the pool report appearing in thousands of inboxes, all major news outlets have continued to withhold the covert agent’s name at the government’s request. Time The CIA official operates under a cover, though their identity is known to the Afghan government. The release of the name is not only a faux pas in intelligence circles, but could jeopardize the CIA officer’s career and safety.

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Morning Media Newsfeed: Time Inc. to Relocate | Snowden Talks to NBC | FNC Anchor Arrested

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Time Inc. to Leave Time & Life Building (FishbowlNY)
Time Inc. is moving on. The company announced that it is moving its offices from the iconic Time & Life Building — where the publisher has been since 1959 — to Brookfield Place in Lower Manhattan. Politico / Dylan Byers on Media Time Inc. CEO Joe Ripp announced the news in an email to staff. The move will bring Time Inc. within a two-minute walk of the new Condé Nast offices at One World Trade. Deadline New York The company looked at options in New York and New Jersey. But Brookfield Place’s planned $250 million renovation — adding lots of upscale restaurants and shopping — plus “the incentive package we received from Governor Andrew Cuomo and Empire State Development drove our decision to stay in New York City,” Ripp said. Time Inc. has a long-term lease at 225 Liberty Street to occupy six floors and 700,000 square feet of office space. Variety The publishing company will ease into its new headquarters in late 2015. The relocation comes as parent company Time Warner is preparing to spin-off Time into a separate, publicly traded company on June 6. WSJ With the Time lease, Brookfield has leased about 3 million square feet of the 4.2 million square feet of Bank of America Corp.’s Merrill Lynch office space that expired in 2013.

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Morning Media Newsfeed: S&S Joins eBook Services | Netflix to Expand | Spotify Hits Milestone

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Simon & Schuster Joins Scribd, Oyster eBook Subscription Service Libraries (GalleyCat)
Simon & Schuster has established a partnership with Scribd and Oyster. Readers will now have access to the publisher’s backlist eBook titles. GigaOM eBook subscription sites are still young — both Oyster and the reinvented Scribd, which offer users unlimited access to a library of eBooks for under $10 a month, just launched last fall. In that time, one of the questions for these services has been whether big publishers would sign up. Until now, the only Big Five publisher participating in either service had been HarperCollins. Mashable As part of the agreement, Simon & Schuster will make available its entire backlist of thousands of books. Eric Stromberg, cofounder and CEO of Oyster, framed the deal as a strong endorsement for the eBook subscription market, or as he put it, the access model. WSJ Simon & Schuster and HarperCollins both view the services as a way to jump-start sales of older books. Both publishers have limited what they make available to titles that have been in print for at least a year. The Oyster and Scribd deals are “an experiment, but it’s a serious experiment,” said Carolyn Reidy, chief executive of Simon & Schuster, a unit of CBS Corp. Simon & Schuster also has experimented with providing books to another kind of subscription service, one now called Entitle Books Inc., which lets consumers buy a certain number of books for a set price every month. Forbes The deal includes authors like Stephen King — the most searched author in the Oyster platform — and Ernest Hemingway, who is No. 5. Other names snagged in the deal include Dan Brown, Mary Higgins Clark, Ray Bradbury and F. Scott Fitzgerald.

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Morning Media Newsfeed: AT&T Advances DirecTV Talks | AP Expands | BuzzFeed President Out

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AT&T Said to Be in Talks to Buy DirecTV for About $50 Billion (Bloomberg)
AT&T Inc. is in advanced talks to acquire DirecTV, the largest U.S. satellite-TV provider, for about $100 per share, according to people familiar with the matter. WSJ A takeover of DirecTV could put a value of nearly $50 billion on the satellite-television provider. The two sides are discussing a deal that would involve a mix of cash and AT&T stock, the people said. Dallas-based AT&T would likely pay a premium to DirecTV’s share price Monday, one of the people said. An agreement could be reached in two weeks if not sooner, according to the people. GigaOM AT&T’s plan is to turn the satellite company into an AT&T unit, and keep management on board to run that unit, with plans for DirecTV’s chief executive Mike White to retire in 2016. The acquisition report, which neither company is commenting on, comes after three months after Comcast announced that it was going to acquire Time Warner Cable in a $45 billion deal. Variety Analysts have speculated that AT&T could migrate its 5.7 million U-verse TV subscribers to DirecTV’s satellite-delivered service, freeing up bandwidth in its terrestrial data networks. With 26 million pay-TV subscribers, AT&T also would gain leverage in programming negotiations on part with a merged Comcast-TWC. Reuters DirecTV shares rose 6 percent to $92.50 in extended trading on Monday.

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Morning Media Newsfeed: NPR Appoints CEO | Colbert’s Successor Named | Clippers Tap Parsons

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Jarl Mohn Becomes NPR President and CEO (FishbowlDC)
The board of directors of NPR announced Friday that it has selected Jarl Mohn to become its next president and chief executive officer. WSJ Mohn is becoming the fifth leader in a five-year stretch marred by scandal and financial woes. Mohn hails from a flashier background than some of his predecessors at NPR. He spent years as a radio DJ, under the pseudonym Lee Masters, and served as an executive at MTV and VH1 before creating and running E! Entertainment Television. He subsequently served as chief executive of Liberty Digital Inc., a subsidiary of Liberty Media Group focused on interactive and cable television. Politico / Dylan Byers on Media Mohn, who currently serves as chairman of Southern California Public Radio, will begin his tenure as CEO on July 1. He was recruited by acting CEO Paul Haaga, who had been running the network since September after the unexpected resignation of Gary Knell, who left to join National Geographic. Deadline New York Knell left NPR after 21 months on the job, succeeding Vivian Schiller, who was forced to resign over a string of controversies. In September NPR hoped to cut its staff by 10 percent by offering staffers a voluntary buyout. It was part of a two-year plan to eliminate an operating cash deficit expected to hit $6.1 million. HuffPost / AP Board chair Kit Jensen says Mohn has a keen ability to identify media and consumer trends and has a strong track record on diversity and fairness. Mohn said in a statement that he considers the new position a mission, not a job.

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Morning Media Newsfeed: Jansing Promoted | CBS Crew Detained | News Corp. Buys Harlequin

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Chris Jansing Named Senior White House Correspondent for NBC News (TVNewser)
Changes are coming to NBC’s Washington bureau. NBC News president Deborah Turness has named Chris Jansing as the new senior white house correspondent and Peter Alexander as national correspondent. Politico / Dylan Byers on Media Jansing, who will report primarily for NBC Nightly News, will relocate from New York to Washington and will stop hosting her MSNBC show Jansing & Co. The network said her replacement will be announced in the coming weeks. Variety Both Jansing and Alexander will work as part of a unit that also comprises Chuck Todd, the NBC News political director and chief White House correspondent, and Kristen Welker, who will continue to report for NBC Nightly News and Today. HuffPost It will be the latest of a string of changes at that network, which has recently reshuffled its daytime lineup and added Ronan Farrow and Joy Reid to its roster. Deadline Hollywood Jansing joined NBC News in June 1998, and has also anchored Jansing & Co. on MSNBC since October 2010. She anchored MSNBC’s coverage of the terrorist attacks on Sept. 11 as the events unfolded, extensively covered several presidential campaigns for both NBC News and MSNBC and hosted a series of reports called Battleground America.

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