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Posts Tagged ‘Rupert Murdoch’

Morning Media Newsfeed: Bloomberg Cancels Hunt | CNN Politics Makes Cuts

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Bloomberg Media Makes Cuts in Three Cities, Cancels Political Capital (TVNewser)
Bloomberg Media made cuts in Washington, D.C., Los Angeles and New York City Thursday. FishbowlDC Bloomberg announced several layoffs in its D.C. bureau, relocating a few TV production positions to New York, where its daily politics show with Mark Halperin and John Heilemann — slated to launch in October — will be produced. Amid news of the layoffs, Bloomberg spokeswoman Amanda Cowie shared the following statement: ”Our TV operation — in the U.S. and around the world — is growing in size. We are changing how, and where, the TV operation is run.” NYT Some political and finance reporters were dismissed and the company will move some European television production jobs to London. It will also close its small television bureau in Los Angeles and focus its resources on San Francisco. Politico / Dylan Byers on Media Bloomberg Media has decided to cancel its weekly political talk show, Political Capital With Al Hunt. Hunt will continue to write his weekly column for Bloomberg View, the site’s opinion vertical. Several print staff will also be laid off. Staffers will have the option to apply for other jobs at the company. TheWrap “We will continue to expand our Washington coverage. We’re launching a new politics platform — including for the first time a daily political show — expanding initiatives like First Word DC, investing in financial crimes reporting and the changes are a part of the overall new structure being put into place,” Cowie said.

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Morning Media Newsfeed: Fox, Time Warner Issue Earnings | Coulson Charged With Perjury

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Fox, Time Warner Deliver Dueling Earnings Reports, Both Positive (NYT)
How dead is the Fox-Time Warner deal? So dead that Rupert Murdoch hopped on his company’s quarterly earnings call on Wednesday to drive home the point that his giant media company, 21st Century Fox, really is walking away. The collapse of the deal, which would have been the biggest media merger in a decade, set the stage for a day of dueling earnings reports and analyst conference calls on Wednesday, as both Fox and Time Warner sought to reassure investors that they were going to be just fine without each other. Capital New York “This is our resolute decision, which is why we formally withdrew our acquisition offer,” Murdoch said, citing Time Warner’s decision not to negotiate, the response from Fox’s board of directors, along with Fox’s stock price, which Murdoch said is “severely undervalued.” Variety Film and cable programming gains powered 21st Century Fox to strong earnings and revenue gains in the fiscal fourth quarter, despite a big decline at the Fox network from the collapse of American Idol. Fox reported revenue of $8.42 billion, a 17 percent gain over the year-ago quarter powered by stronger contributions from the film division. Operating income climbed 17 percent to $1.77 billion. THR During the regular session Wednesday, shares of 21st Century Fox rose 3 percent and another 4 percent after the closing bell. Shares of Time Warner, meantime, were crushed because of the failed merger attempt, falling 13 percent in regular trading Wednesday. HuffPost / AP Time Warner Inc. said Wednesday that its second-quarter net income rose 10 percent on strong results from its HBO and Turner properties. New York-based Time Warner, which owns TV channels like HBO and TBS as well as Warner Bros. studios, said profit increased to $850 million, or 95 cents per share, from $771 million, or 81 cents per share, in the same quarter a year earlier.

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Morning Media Newsfeed: Murdoch Withdraws Time Warner Bid | New Leaker Emerges

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After Pushback, Murdoch Abandons Fox’s Pursuit of Time Warner (NYT / DealBook)
At 4:07 p.m. Tuesday, the chief executive of Time Warner Inc., Jeffrey L. Bewkes, received an unexpected email. “On behalf of our board and senior management team, I am writing to inform you that we are withdrawing our offer to acquire Time Warner, effective immediately. Sincerely, Rupert Murdoch.” A hand-delivered letter bearing the same message arrived soon after. TVNewser In short, Murdoch’s 21st Century Fox withdrew its bid for Time Warner, CNN’s parent company. FishbowlNY Early last month, word leaked that Murdoch’s bid of $80 billion was rejected, which raised speculation that he’d try everything in his power to make it happen. Instead, the opposite has occurred. Politico / Dylan Byers on Media Subsequent reports speculated that Murdoch, dogged in his pursuit of an acquisition, would consider upping the offer by as much as $13.5 billion. Had such a deal gone through, it would have merged the country’s top-two cable providers, giving Murdoch control of several top-rated cable networks, including TNT, Fox News, TBS and Cartoon Network. WSJ Fox cited both Time Warner’s unwillingness to “engage with us” and a sharp drop in Fox’s stock price which made a deal “unattractive to Fox shareholders.” Fox’s stock had fallen about 11 percent since news broke last month that it had made a takeover offer for Time Warner, valued at $85 a share.

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Rupert Murdoch Gives Up Trying to Buy Time Warner

It’s over. Rupert Murdoch and his company, 21st Century Fox, have officially given up on trying to buy Time Warner. Early last month, word leaked that Murdoch’s bid of $80 billion was rejected, which raised speculation that he’d try everything in his power to make it happen. Instead, the opposite has occurred.

In a statement, Murdoch essentially blamed it all on Time Warner:

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Morning Media Newsfeed: Zakaria Joins The Atlantic | The Hill Names Cusack Editor-in-Chief

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Fareed Zakaria to Join Atlantic Media as Contributing Editor (FishbowlDC)
Atlantic Media announced Monday that Fareed Zakaria will join The Atlantic and Quartz as a contributing editor in September. In this role, he will write for The Atlantic and participate in AtlanticLIVE and Quartz events. FishbowlNY Zakaria will continue his current roles as host for CNN and a columnist for The Washington Post. HuffPost “I have read The Atlantic with pleasure for three decades,” Zakaria said. “It is the best forum for ideas in the world and I’m delighted to be a part of it and Quartz.” Poynter / MediaWire Zakaria will cover “pressing world matters and culture”, and his work will appear both in the magazine and on TheAtlantic.com, according to Atlantic Media. Politico / Dylan Byers on Media Zakaria’s first event with the company will be Quartz’s The Next Billion: A Connected World conference in New York in November.

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Jane Fonda Doesn’t Want Murdoch to Buy Time Warner

jane fonda GGood news for those of you who desire more media commentary from Jane Fonda: She has given her thoughts on Rupert Murdoch potentially buying Time Warner. In short, she think it’s a bad idea.

“I think it would be a catastrophe,” the 76-year-old actress told The Wrap. “If that happens I’m going to be so angry at the FCC. They cannot let that happen.” FCC, you’re officially on notice.

Fonda wasn’t done there. She went on to explain that Murdoch uses his media outlets to spread bad politics. “It’s no secret that Rupert uses his media outlets for political reasons,” said Fonda. “And he is not neutral. And he, you know, his news outlets do things that are unconscionable. And it just cannot happen that he becomes that much of a dominant force in American media.”

We imagine Fonda and Murdoch won’t be getting together for afternoon tea anytime soon.

Morning Media Newsfeed: WaPo Reporter Detained in Iran | Bloomberg Hires Topolsky

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WaPo Reporter, Other Journalists Appear to Have Been Detained in Iran (The Washington Post)
Three American citizens, including the Washington Post’s correspondent in Iran, appear to have been detained this week in Tehran, U.S. officials and the newspaper said Thursday. FishbowlDC Jason Rezaian and his wife, Yeganeh Salehi, are among four individuals — including two unnamed American freelance photojournalists — detained without explanation. Mediaite Salehi, an Iranian citizen, works for a paper out of the United Arab Emirates. The Post does not know why they were detained or by whom; Rezaian’s family has not issued a comment. The State Department said it was aware of the incident but revealed no further information. HuffPost Rezaian has been based in Iran since 2008 and with the Post since 2012. He most recently reported Friday from Vienna on talks over Iran’s nuclear program. Laura Rozen, a reporter with Al Monitor, tweeted that she saw Rezaian on Saturday and that he was planning to fly back that night to Tehran. NYT Hamid Babaei, a spokesman for Iran’s mission to the United Nations, said it, too, was “following up on the case” and would notify reporters when it had any news. The Committee to Protect Journalists, a press freedom advocacy group, called on the Iranian authorities to explain their actions, and to release those it was holding. The U.S. does not have diplomatic relations with Iran. The Swiss government, which has an embassy in Tehran, acts on behalf of American citizens in the country.

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Bill Maher Sees Dead Cable People

SteveDoocyPicPer a guest column in this week’s Hollywood Reporter, the host of Real Time has a bad, sick-sense feeling about the possible takeover of Time Warner by News Corp. What’s good for the Doocy, the acerbic TV host imagines, will not be good for the Maher:

There’s a terrible price to pay for this. (I mean besides the terrible price I personally will pay when Rupert takes over HBO and my show becomes Paste-Eating Time With Steve Doocy.)

Maher may have it wrong. It seems to FishbowlNY that the more likely Fox News morning show host to be gifted with some extra Friday Real Time would be Elisabeth Hasselbeck.

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Morning Media Newsfeed: Time Warner Plays Defense | Netflix Hits 50 Million Subscribers

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Time Warner Cancels Shareholders’ Ability to Call Special Board Meeting, Guards Against Fox Acquisition (NYT / DealBook)
Time Warner is playing defense. On Monday, the company amended its corporate bylaws and removed a provision that allowed shareholders to call a special board meeting. In a filing with the Securities and Exchange Commission, Time Warner said the change was effective immediately. Variety The media company’s board approved a measure to temporarily prevent a fraction of shareholders, some 15 percent, from forcing a vote on 21st Century Fox’s $85 per-share offer, according to public filings. The so-called special meeting provision may be re-instated at the company’s 2015 shareholders meeting. Deadline Hollywood The fear was that Rupert Murdoch — or anyone — could have tried to stampede short-term investors into accepting a deal even if the board concluded that it would not serve their long-term interests. Time Warner shares were down 1.6 percent in post-market trading following disclosure of the change. THR Murdoch’s 21st Century Fox has bid about $80 billion to acquire Time Warner, but Time Warner’s board and CEO Jeffrey Bewkes have rejected the proposal. Some analysts predict that 21st Century Fox will eventually offer $100 a share for Time Warner. The conglomerate’s stock has climbed 23 percent in the past week on such speculation, and Monday it closed at $87.36. TVNewser People familiar with the original $80 billion proposal that was rejected said if 21st Century Fox took over Time Warner, it would sell CNN to prevent antitrust issues stemming from Fox News and CNN’s direct competitor relationship.

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Anything They Want | Truth Bomb | Good Question

RupertMurdoch_FeaturedTVNewser: Rupert Murdoch is considering increasing his offer for Time Warner. Among the options he’s exploring — selling Sky Italia and allowing Time Warner’s execs to adopt any of his children.

FishbowlDC: Thanks to the Republican party, the 17 idiots who truly thought that Hillary Clinton was poor now know the truth.

TVSpy: Investigative journalism at its finest — a reporter questions if farts can cure cancer.

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