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Posts Tagged ‘Peter Chernin’

Morning Media Newsfeed: Chernin, AT&T Strike Deal With Fullscreen | The Wire Shuttered

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Peter Chernin, AT&T to Buy Majority Stake in YouTube Network Fullscreen (THR)
Peter Chernin’s The Chernin Group and AT&T have finalized a deal to acquire a majority stake in YouTube network Fullscreen. GigaOM Financial details of the transaction weren’t released, but Fullscreen CEO George Strompolos, who previously handled partner relations for YouTube, will retain “a material ownership stake in the company,” according to the release. Re/code The sale is supposed to wrap up in the next month; ad holding giant WPP, which invested in Fullscreen earlier, will remain as a “strategic shareholder.” The deal is likely to value Fullscreen, which says it has 4 billion monthly video views, between $200 million and $300 million. Earlier in the year, Disney bought YouTube network Maker Studios, which had 5.5 billion views, in a deal that could ultimately hit $950 million. That sale kicked off a new wave of investor interest in Web video networks, which for now generate most of their eyeballs and revenue on YouTube. Capital New York Dreamworks acquired YouTube channel AwesomenessTV in 2011 for $150 million, Discovery acquired Revision3 in 2012 for $30 million, and Legendary Entertainment bought Nerdist for an undisclosed sum in 2012. Variety Fullscreen, founded in January 2011, works with more than 50,000 content creators — including such YouTube stars as the Fine Bros., Connor Franta and O2L — who have an aggregate of 450 million subscribers. The Culver City, Calif.-based company has about 200 employees worldwide.

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Sweet Seinfeld Memories

Stand-up comedian and actor Kevin Pollak is quietly closing in on the 100th episode of Kevin Pollak’s Chat Show, his freewheeling online subversion of the Charlie Rose round table model. For an atypical, non-live audience Halloween edition, he sat down with actor Jason Alexander.

The conversation is peppered with all sorts of great Seinfeld reminiscences. Recalled Alexander:

“When we did the 100th episode, NBC printed up the original test group results, which were the worst in the history of network TV… There was actually a thing that said, ‘Too hip, too urban, too Jewish.’ And I said, ‘Was there a Kyke meter? Oh, oh, oh… We’re on the brink. Too much… Too Jew-y.’”

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FishbowlNY’s 2009 Lists: The Year’s Biggest Moves In Media

door.jpgThis year — full of flux and uncertainty about where the media is heading — has resulted in a vast number of job changes and departures across all matter of media companies and publications. In almost every field of journalism, big names have either been fired, promoted, retired, or simply moved on to more lucrative positions. Here, we take a look back at the biggest industry shakeups of 2009.

The Biggest Move in Magazines: Stephen Adler leaving BusinessWeek.
When editor Stephen Adler announced his departure from BusinessWeek this October following the magazine’s sale to Bloomberg LP, he wasn’t just making a statement, he was starting a trend. Soon he was followed by some of his former colleagues, like John Byrne and BusinessWeek‘s president Keith Fox, who decided to stay with magazine’s original parent, McGraw-Hill. (Not to mention all of those who involuntarily left the pub not long after.) It takes a lot of chutzpah to up and quit your editor gig in the middle of this turbulent media landscape, it takes even more to get your coworkers to come with you. Fortunately for Adler, he’s already landed another gig at Thomson Reuters.

Runners Up: Time.com managing editor Josh Tyrangiel comes on board as editor at Businessweek; Marie Claire‘s publisher Susan Plagemann joins Vogue; Nancy Berger Cardone of shuttered Gourmet takes Plagemann’s spot at Marie Claire; Janice Min leaves Us Weekly; Mariette DiChristina becomes Scientific American‘s first female editor-in-chief.

More after the jump

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Zucker To Lead Comcast-NBCU Venture

zucker2.jpg If Comcast ends up with a controlling interest in General Electric-owned NBC Universal, it looks like NBCU CEO Jeff Zucker will be staying on to lead the new venture.

Reuters reports, citing unnamed sources:

“Under the terms being discussed, Zucker will lead the new entity, with no clauses for him to leave after a specific period, the sources said on Tuesday…There has been a lot of speculation about who would head the new company, especially since Peter Chernin — the former president of News Corp. — has been advising Comcast.

The sources said Zucker would be chief executive, but no decisions had been made on what role Chernin might play, if any. Discussions about what the new board would look like are ongoing, the sources said.”

Comcast has been in talks to purchase a controlling interest in NBCU for a number of weeks, and a deal is expected to be announced soon. By keeping Zucker on, it looks like Comcast is putting its faith in him. But can NBC’s recent ratings challenges all be chalked up to the the recently departed Ben Silverman?

Zucker to head new NBCU-Comcast venture — sources –Reuters

Earlier: Comcast Purchase of NBCU Stake A Done Deal?

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Examining The “Morning Joe”-Starbucks Partnership|NBC Accused Of Violating Pool Rules|Wise Words For Graduating J-School Students|DirecTV CEO May Return To News Corp.|NYT Magazine Shrinks

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AgencySpy: Is MSNBC‘s decision to pair “Morning Joe” with Starbucks a bad branding move?

TVNewser: NBC was accused of violating pool rules over the weekend by putting Matt Lauer in every shot during an interview with Prince Harry that was meant to be shared with all the networks.

MediaJobsDaily: Author Barbara Ehrenreich offered some insight into the tough job market to Berkeley’s journalism school grads over the weekend. “A laid-off autoworker doesn’t go into his or her garage and assemble cars by hand. But we – journalists – we can’t stop doing what we do,” she said.

PaidContent: Former News Corp. exec and current DirecTV CEO Chase Carey is reportedly being wooed back to News Corp. to take over Peter Chernin‘s role as number two to Rupert Murdoch. However, his role may be slightly different from Chernin’s since Carey would likely work from New York while Chernin served in Los Angeles.

Editor & Publisher: The New York Times Magazine is cutting its size starting June 14.

Chernin, Murdoch, and News Corp.: The Son Also Rises?

murdoch-kids.jpgScoopmeister Nikki Finke is opining on the upcoming departure of Peter Chernin, Rupert Murdoch‘s number two man at News Corp. Finke suspects that perhaps Chernin wanted to be more than a “seat warmer” for the next generation of Murdochs:

In terms of News Corp., the assumption has always been that the youngest son, who runs all of News Corp.’s international assets, would eventually take over. As Chernin himself liked to tell people, “I’m just warming the seat for a Murdoch.” It would also calm Wall Street concerns about successorship at News Corp., since Rupert Murdoch is 78 years old.

However! Finke says this assumption may be misguided: “I hear James [Murdoch] simply isn’t ready: He’s a know-it-all who parties hearty and isn’t picking up the business or running it as he should.

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Rupe’s Memo Announcing Chernin’s Departure

rupert_murdoch_tokyo.jpgRupert Murdoch is certainly dominating the media headlines these days. As we mentioned earlier today’s Post is running an apology from the News Corp. head for last week’s controversial chimp cartoon, and yesterday Rupe sent out a memo confirming News Corp COO Peter Chernin‘s departure. In the memo — in full after the jump — Murdoch praises Chernin as both a leader and a friend before going on to loosely explain how the transition will managed during this ‘severe’ downturn.

We are in the midst of a phase of history in which nations will be redefined and their futures fundamentally altered. Many people will be under extreme pressure and many companies mortally wounded. Our competitors will be sorely tempted to take the easy beat, to reduce quality in the search for immediate dividends.

Let me be very clear about our company: where others might step back from their commitment to their viewers, their users, readers and customers — we will renew ours.

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Chernin Out at News Corp?

2101461578_060dacd6e8.jpgWow. After weeks of speculation — which generally concluded Chernin would end up re-signing at the last minute — the LA Times is reporting that Peter Chernin, president of News Corp. will be leaving the company.

Per the LAT:

Chernin’s departure, which was finalized over the weekend, comes at a vulnerable time for News Corp., which like other media companies has been affected by the recession and a decline in advertising revenue. News Corp.’s stock is off almost 70% from its 52-week high, a steeper decline than that suffered by media rivals Time Warner Inc. and Walt Disney Co. Investors have reacted negatively to Murdoch’s purchase of Dow Jones & Co., owner of the Wall Street Journal, which has seen its advertising plummet.

Rupert Murdoch is expected to take over Chernin’s duties when his contract expires June 30.

Peter Chernin is Out at Murdoch’s News Corp.

peter-chernin-1.jpgAfter 12 years on the job as an ‘ambassador’ to Wall Street and in Hollywood for Rupert Murdoch‘s News Corp, Peter Chernin is leaving the company.

From LAT:

Peter Chernin, the highly regarded president of Rupert Murdoch’s News Corp. and the executive who has paved the way for the global media giant on Wall Street and in Hollywood, is leaving the company, according to people familiar with the situation.

No immediate successor will be named. Instead, Murdoch, 77, is expected to pick up many of the duties handled by Chernin, including oversight of News Corp.’s Fox movie and television operations.

News Corp. stock is down worse than…you know everybody elses. Hm.

Nikki Finke has her take on it.

Rupe’s Second-in-Command Getting Ready to Depart?

2101461578_060dacd6e8.jpgIs Rupert Murdoch‘s number two man at New Corp. departing? The LAT reports that Peter Chernin, who is credited with “the company’s smooth operations” and who has been in contract negotiations with Rupe for months may leave the company when his contract expires on June 30.

Chernin has been tight-lipped about his plans. Some analysts view the situation — and the domino effect in management his departure could trigger — with alarm.

“While Chernin has not signaled his intent, we fear the longer time goes by, the less likely he is to renew his contract,” Pali Research analyst Richard Greenfield wrote in a recent report. “Chernin’s departure would raise significant investor concern and could lead to other management changes at News Corp.”

Apart from the terrible timing of the departure, should that happen, there appears to be some question as to whether Murdoch’s children are prepared to lead the company.

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