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Posts Tagged ‘James Murdoch’

Morning Media Newsfeed: Sony Pulls The Interview | 21st Century Fox Acquires TrueX

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9/11 Threats From Sony Hackers Cause Company to Drop The Interview (FishbowlNY)
In light of the recent threats of violence from those responsible for the ongoing cyber attacks against Sony Pictures (aka the “Guardians of Peace”), the company has decided to pull the plug on Seth Rogen and James Franco‘s latest movie, The Interview. The film was scheduled to premiere nationwide on Christmas day. PRNewser Tuesday, the hackers’ threats turned to violence, invoking 9/11 and implying that someone would attack theaters screening The Interview. The movie’s planned New York premiere was subsequently cancelled. Rogen and Franco also cancelled all further press dates. Time American officials have determined the government of North Korea is connected to the hack, a U.S. official confirmed Wednesday. Much remains unclear about the nature of North Korea’s involvement. The country, while lauding the hack against Sony, has denied being behind it. There were conflicting reports Wednesday evening, and officials are expected to unveil their findings Thursday. THR Sony decided to pull The Interview from all theaters Wednesday in response to the decision by the country’s major chains not to show the film. The country’s top five theater chains — Regal Entertainment, AMC Entertainment, Cinemark, Carmike Cinemas and Cineplex Entertainment — chose to pull The Interview from their theaters Wednesday. Variety Sony is weighing releasing the film on premium video-on-demand, according to an insider. That would allow the studio to recoup some of the film’s $42 million budget and tens of millions in promotion and advertising expenditures. It would also enable the studio to experiment with the potential of VOD, something it has been hesitant to do at the risk of angering major exhibitors. TheWrap Wednesday, New Regency pulled the plug on its Steve Carell movie Pyongyang, which Gore Verbinski had been prepping for a March start date. Based on the graphic novel by Guy Delisle, Pyongyang is a paranoid thriller about a Westerner’s experiences working in North Korea for a year.

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21st Century Fox Buys Digital Ad Company

21st Century Fox logo G21st Century Fox has purchased TrueX Media for $200 million. TrueX — founded in 2007 as SocialVibe — is a digital advertising company which licenses its products to advertisers and media companies.

Some of TrueX’s clients include Microsoft, Visa, Apple, Disney, Coca-Cola, Kia, Kraft, Macys, Nestle, and Procter & Gamble.

“The connections between brands and consumers have continued to evolve within digital video environments, and True[x] is at the center of this vital area of innovation,” said James Murdoch, co-COO of 21st Century Fox, in a statement. “We’re thrilled at the opportunity to have true[x]’s talented team work with us as we set out together to create new experiences in what we believe is a very exciting time in digital video.”

Morning Media Newsfeed: Winkler Out at Bloomberg | Ebola Fighters Are Time PoTY

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Matt Winkler Steps Down at Bloomberg News (FishbowlNY)
More changes at Bloomberg News, this time involving veteran editor-in-chief Matt Winkler, who is stepping down. Winkler has been editor of Bloomberg News for the past 24 years. Capital New York John Micklethwait, editor-in-chief of The Economist, will succeed Winkler, who co-founded the news service with Michael Bloomberg back in 1990. Micklethwait has edited The Economist since 2006. He will leave the company at the end of January. Politico / Dylan Byers on Media The Economist is now searching for a replacement for Micklethwait, who joined the mag in 1987, a process that will very likely take several weeks. NYT On Tuesday, Bloomberg News named Winkler an editor-in-chief emeritus. One executive at Bloomberg, who was not authorized to speak publicly, said the change was a year in the making, but had accelerated since Bloomberg’s return to the company in September. Another Bloomberg executive said it was very much a joint decision based on the need for a cultural change in the news division, and that Bloomberg and Winkler remained close. HuffPost As editor-in-chief emeritus, Winkler will work with Bloomberg “on strategic initiatives, conducting high-profile interviews of global newsmakers and bringing his insights and expertise to the most important and market-moving stories.” Micklethwait will oversee editorial “across all Bloomberg platforms, including its news, newsletters, magazines, opinion, television, radio and digital properties,” according to a release. Bloomberg Media Group CEO Justin Smith, who is overseeing new consumer-facing sites for the company, like Bloomberg Politics, will continue reporting to Michael Bloomberg.

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Morning Media Newsfeed: Aereo Files for Bankruptcy | MSNBC Hires Ex-WH Staffer

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Aereo Files for Bankruptcy (TVSpy)
With a post on the company’s blog Friday morning, Aereo founder and CEO Chet Kanojia announced the company had filed for bankruptcy protection. THR The digital TV service, which broadcast network owners battled in courts for offering access to broadcast TV signals via digital devices, made a voluntary Chapter 11 filing, it said in the statement. “We encountered significant challenges from the incumbent media companies,” said Kanojia in the statement. Mashable Chapter 11 bankruptcy protection is typically expensive and allows for the company to restructure its debt. While filing for bankruptcy does not necessarily mean the end of the business, Kanojia struck a tone in a statement on Aereo’s website that insinuated the company was done. Variety New York-based Aereo had raised about $97 million, from investors including IAC chairman Barry Diller, media investor Gordon Crawford, Himalaya Capital Management, Highland Capital Partners and FirstMark Capital. Earlier this month Aereo laid off a majority of its staff, including employees in New York and Boston. The company said a small executive team of about a dozen people would remain. GigaOM Aereo’s bankruptcy petition shows it owes roughly $2 million to a list of creditors that include Internet companies like Level 3 and Google, as well as several law firms. But the most significant creditors on the list are names like ABC and Fox, the TV networks that are continuing to sue Aereo over copyright infringement. Aereo’s filing simply states “unknown” in the amount owed to the “litigation party” TV stations, which also include PBS, Telemundo and NBC.

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Morning Media Newsfeed: García Márquez Dead at 87 | Whoopi Gets New Gig | Wallace Re-Signs

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Gabriel García Márquez, Nobel Laureate, Dies at 87 (GalleyCat)
Colombian author Gabriel García Márquez passed away Thursday. He was 87 years old. Time The Nobel Prize-winning author was hospitalized for nine days in late March for an infection in his lungs and urinary tract. He had been recovering in his home in Mexico City since April 8. NYT His death was confirmed by Cristóbal Pera, his former editor at Random House. García Márquez, who received the Nobel Prize for Literature in 1982, wrote fiction rooted in a mythical Latin American landscape of his own creation, but his appeal was universal. His books were translated into dozens of languages. He was among a select roster of canonical writers — Dickens, Tolstoy and Hemingway among them — who were embraced both by critics and a mass audience. The Guardian Journalists gathered outside García Márquez’s house in Mexico City in the hope that one of the family members who was reportedly at his side would emerge. Mexican president Enrique Peña Nieto expressed sadness at the death of “one of the greatest writers of our time,” in the name of Mexico, the novelist’s adopted home. Chilean writer Luis Sepúlveda was quoted by the Mexican newspaper Reforma as saying that he was “the most important writer in Spanish of the 20th century.” WSJ Born in the sleepy town of Aracataca, Colombia, García Márquez was best known for his 1967 masterpiece, One Hundred Years of Solitude. In a career spanning more than 60 years, García Márquez wrote some of the Spanish language’s most revered books, many of which became best sellers in the U.S. They included Autumn of The Patriarch, Chronicle of A Death Foretold, Love in The Time of Cholera and The General in His Labyrinth. García Márquez was also an accomplished journalist, whose lyrical, deeply reported stories first caught the eye of readers in Colombia’s capital, Bogotá, in the early 1950s. He later became renowned not only his profiles of presidents and despots but for the real-life close ties he cultivated with leaders ranging from Fidel Castro to Bill Clinton to François Mitterrand.

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Morning Media Newsfeed: Murdoch Ups Sons | Twitter Ban Overturned | NYT Adds Digital Subs

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Rupert Murdoch Elevates Eldest Son to Be His News Corp. Co-Chairman (The Guardian / Greenslade Blog)
Rupert Murdoch’s eldest son, Lachlan, has been promoted to the role of non-executive co-chairman on the News Corp. board. It means that the two will work alongside each other. Rupert, the executive chairman, described the appointment as “recognition of Lachlan’s entrepreneurial leadership and passion for news, digital media and sport.” TVNewser Lachlan has been named non-executive chairman at both News Corp. and 21st Century Fox. The 42-year-old has been a director of both companies, but effectively left the media empire in 2005 where he had been deputy chief operating officer directly responsible for News Corp.’s U.S. television stations group and publishing assets. After Lachlan left News Corp., Roger Ailes, the co-founder and chairman of Fox News Channel, was named chairman of News Corp.’s (now 21st Century Fox’s) television stations group. FishbowlNY The promotion means that Lachlan is all but guaranteed to take over News Corp. when Rupert steps down. In the past, it was believed that James Murdoch was the heir apparent, but no more. James was promoted as well — to co-chief operating officer at 21st Century Fox. Financial Times James’ elevation comes two years after he was embroiled in the U.K. phone hacking scandal as the former head of News Corp.’s U.K. newspaper business. His new position gives him a more central executive role at one of America’s most global media companies, in contrast to Lachlan’s non-executive position, keeping him in contention in a succession race that has seen numerous twists. James will share his new title with Chase Carey, a trusted adviser and second-in-command to Rupert, to whom he had reported in his previous role as deputy chief operating officer. Reuters Each son has at various times been seen as heir apparent, and it is unclear how well they will work together when Murdoch finally hands over the companies. The Murdoch family controls both Fox and News Corp. through a trust that has a 38 percent ownership stake of Class B shares with voting rights. A source familiar with the companies said that the plan to elevate Lachlan and James had been in the works for a while and that a tussle over control would be unlikely.

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Lachlan Murdoch Gets Top Spot on News Corp Board

The future of News Corp just landed in the lap of Lachlan Murdoch. The New York Times reports that Lachlan — most recently a director of News Corp and 21st Century Fox — has been promoted to non-executive co-chairman, the top spot on News Corp’s board. Lachlan’s father, Rupert Murdoch, owns 40 percent of the company, and will remain executive chairman.

The promotion means that Lachlan is all but guaranteed to take over News Corp when Rupert steps down. In the past, it was believed that James Murdoch was the heir apparent, but no more. In what seems like a “Oh, I’ve got a present for you too, son” move, James was promoted as well — to co-chief operating officer at 21st Century Fox.

In a statement, Rupert said Lachlan’s promotion was “a sign of confidence in the growth potential of News Corporation and a recognition of Lachlan’s entrepreneurial leadership and passion for news, digital media and sport.”

Why Rupert Murdoch Bought Out YES Network Two Years Early

256px-YankeesWhen Rupert Murdoch bought 49 percent of the Yankees- and Brooklyn Nets-focused YES Network over a year ago, he pledged to take a majority stake after three years.

On Friday, 21st Century Fox announced a deal to raise its ownership of the Yankees Sports and Entertainment Network to 80 percent from 49 percent, roughly two years ahead of schedule.

“Our investment in the YES Network underscores our commitment to growing our global sports portfolio with offerings that are exceptional and unique,” James Murdoch, deputy chief operating officer/boss’s son at 21st Century Fox, said in a statement.

The deal, pending regulatory approval, is expected to close by the end of the first calendar quarter. Yankee Global Enterprises will hold on to the remaining 20 percent stake.

So, why did this deal come early?

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James Murdoch Sells 18 Percent of Stake in 21st Century Fox

James MurdochJames Murdoch, deputy chief operating officer of 21st Century Fox, has sold about 18.5 percent of his stake in the company. The Wall Street Journal reports that the transaction was valued at $15 million. The sale was for 455,000 Class A shares, at an average of $32.97 per share.

News of the sale is interesting, if only because it comes about two weeks after 21st Century Fox reported first-quarter profits plummeted by 44 percent. However, a spokesperson for 21st Century Fox said young Murdoch sold the stake for “financial planning purposes.”

Feel free to interpret that however you want.

News Corp. to Officially Split June 28

At the risk of beating a dead multi-billion dollar company, let’s talk about that News Corp. split again. The board voted to move the plan forward, and made June 28 the official separation date. The two new companies will be News Corp. (publishing) and 21st Century Fox (movies and TV).

Aside from the official date, the other thing to note is that there’s more information about the boards of each company. Forbes reports that Rupert Murdoch, Lachlan Murdoch and James Murdoch will have seats on both. News Corp.’s board will also feature John Elkann (former Fiat chairman); Ana Paula Pessoa (partner at Brunswick Group, a PR firm); and Masroor Siddiqui (an investor). At 21st Century Fox there’ll be Delphine Arnault (deputy general manager at Christian Dior); Jacques Nasser (former Ford CEO); and Robert Silberman (executive chairman at Strayer Education).

Now, who wants to have a News Corp. Split Party on the 28th? We’re thinking jello shooters and an ice sculpture of Rupert giving a thumbs up. We’re flexible though.

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