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Posts Tagged ‘Gordon Crawford’

Media Investor at Trillion-Dollar LA Firm Says Goodbye

Nikki Finke has linked to an old LA Weekly item about Gordon “Gordy” Crawford, a.k.a. “The Pope on Hope [Street],” on the occasion of his imminent retirement. The Capital Group VP is exiting the downtown LA firm tomorrow after 41 years, during which time the firm’s assets grew from $2 billion to $1.1 trillion.

Crawford nurtured close relationships with media moguls and his fingerprints were all over many of the biggest transactions involving the likes of Time Warner, News Corp, DirectTV and Disney. From Finke’s 2003 piece:

Crawford is soft-spoken in a sea of screamers, he’s low-profile in a realm of egotists and he’s nice in a nexus of nasties. Besides, it’s hard to say a harsh word about someone who in 1993 suffered such a profound personal tragedy: the death of his 21-year-old son Brett during a hiking accident in Taiwan while enrolled in a semester-at-sea program. Crawford has told friends: “I’d give up all the money I ever made for one hour with him.”

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Time Warner May Sell Off Magazines Eventually, Or Not

time warner logo.jpg Time Warner is completing its spin-off of AOL later this year, a deal that has led many to speculate that the media company might jettison its Time Inc. magazine division, from which its prestigious media name is derived.

Adding to the speculation, last week Gordon Crawford, the managing director of Time Warner’s largest shareholder, The Capital Group, stated that plan as fact during a discussion at the University of Southern California’s Annenberg School for Communication.

“Time Warner just spun off their cable division, they are going to sell their print division, they are going to spin off AOL and they’re just going to be Warner Brothers, HBO and the Turner Networks,” Crawford said, according to a Reuters report.

But media columnist Peter Kafka over at All Things Digital says the scenario described by Crawford is far from a done deal:

“The body language from Time Warner executives in recent months makes me think they intend to keep at least part of their magazine business in the family. More than body language, actually: ‘Time Warner without People? I can’t imagine it,’ one well-placed Time Warner official told me recently.”

Yes, Time Inc. has faced tough times in the past year — even laying off 600 employees last year. But all magazines have experienced the same challenges. Although it’s possible that Time Inc. is looking to dump some of its 23 titles, the company most likely wants to hold on to its flagship magazines, Kafka asserted. Time Warner might also look to dump its IPC Media unit, based in the U.K. “But I’d be surprised if he got rid of Time Inc. and its iconic brands altogether,” Kafka concluded.

And don’t forget: Time Inc. showed its commitment to its brands by recently investing in a bureau in Detroit to closely monitor the city for the next year.

Time Warner Dumping Its Magazines? Not So Fast. –All Things Digital

Earlier: Time Warner, MSLO Release Earnings Numbers

LiveNation Deal, Yahoo! The Talk of Sun Valley

SV2008z.jpgDan Cox, on special assignment for FishbowlLA, covering the 2008 Sun Valley Media Conference.

All’s quiet on the Western Front for Sun Valley. The conference doesn’t officially start until tomorrow, but hundreds of executives, moguls and their families are dribbling in today. A conference shuttle driver said they’re expecting 395 people on the hotel grounds, which is nearly double the number from years past.

Already the few execs at the conference are buzzing about the LiveNation $70 million deal with Canadian rock band Nickelback, which was announced today.

One Allen & Company employee said he was eager to see an interview by Tom Brokaw, who, in between stints on “Meet the Press,” has been invited back again this year. And Gordon Crawford of Capital Research and Management is reportedly thinking about backing Carl Icahn‘s bid for a Yahoo! deal with Microsoft. Crawford’s company owns 16.3% of Yahoo! Crawford is a regular the Sun Valley soiree.