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Posts Tagged ‘Real Sports with Bryant Gumbel’

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: Hearst Tower Drama | Gannett Buys Belo | Soledad’s New HBO Gig


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Hearst Tower Scaffolding Collapses, Stranding Workers (FishbowlNY)
Scaffolding that was being used by two window washers on the Hearst Tower collapsed Wednesday, leaving them stranded. The scaffolding began to fall around 2:40 p.m. 57th St. at 8th Avenue closed to car and pedestrian traffic. TVSpy New York City stations broke into afternoon programming Wednesday with dramatic pictures of two window washers stranded on a scaffolding near the top of the Hearst Tower. TVNewser CBS This Morning co-anchor Gayle King was at her other day job, O: The Oprah Magazine in Hearst Tower Wednesday afternoon when two men got trapped outside the 45th floor after a window washing scaffold collapsed. NBC New York The two workers — identified by law enforcement sources as Victor Carabello, 26, of the Bronx, and Stephen Schmidt, 49, of Brooklyn — underwent a medical evaluation once they were brought inside. Moses Nelson, one of the attending FDNY paramedics, said the workers were fine and in good spirits. “They were all smiles, thankfully,” said Nelson. “No major injuries, no complaints.” Read more