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Posts Tagged ‘Time Warner’

Mystery Solved: Meredith is Trying to Buy Time Inc.

Well that didn’t take long. The mystery of who/what is trying to buy Time Inc. from Time Warner has been solved. According to the Wall Street Journal, it’s Meredith, which mostly publishes women-centric magazines. Above is a video tour of the company’s offices.

The deal is still for Time Warner to keep Time, SI and Fortune, so we still don’t know the solution to the other puzzling question: Why is Time Warner going to part with People, its most profitable title? But the fact that the buyer is Meredith does make things a little clearer. Meredith, knowing that its audience is mostly female, is probably insisting that this deal includes People.

That’s just a guess, but we’re sure as the days go by more details will emerge, so we’ll keep you posted. For now, we’re going to ask Professor Plum his thoughts on the mystery. Last we saw he was in the kitchen with a rope.

Media Stocks Outperform Other Industries in 2012

We know that you come to FishbowlNY for investing advice, so please heed our words for next year: Buy low, sell high and never, ever, login to your Scottrade account after three scotches. With those 2013 pearls of wisdom aside, let’s take a look at how media stocks did this year.

MediaPost reports that the media industry did quite well. The Dow Jones U.S. Broadcasting and Entertainment Index was up 40 percent compared to last year, as a number of media companies saw gains. By comparison, the Dow Jones Industry Index was up only 6.7 percent.

Comcast, Time Warner and News Corp. all saw improvements over 2011, with jumps of 54, 52 and 47 percent, respectively.

Time Warner’s TV Companies Help Bottom Line

Time Warner reported its earnings for the third quarter, and judging by the numbers, we’re guessing the company’s execs are thankful people love TV. According to The New York Times, Time Warner’s networks — including HBO, TNT and more — had its best quarter ever, raking in $1.2 billion in overall operating income. That represented a 12 percent jump from the same period last year.

The TV boost, however, was balanced out by news that Time Inc. continued to stumble. Overall revenue for the publishing unit fell six percent, as both subscription and advertising revenue dropped six and five percent, respectively.

“Over all, I’m very confident about how we’re positioned heading into the next year and beyond,” Jeff Bewkes, CEO of Time Warner, told the Times.

Andy LaValle Promoted at Time Warner

Andy LaValle has been promoted from managing director to senior managing director, west, at Time Warner. LaValle has been with Time Warner since 2005. Prior to that he was a founding member of Christian & Timbers, an executive search firm.

LaValle will continue executive search in his new role for Time Warner.

Time Warner Buys Bleacher Report

Bloomberg is reporting that Time Warner’s Turner Broadcasting System is purchasing the sports site Bleacher Report, for “less than $200 million.”

Bleacher Report was founded in 2006 by four friends, three of whom remain with the site as of now. According to Bloomberg, Bleacher Report gets about 10 million hits per month.

Bleacher Report also depends on a lot of its writers creating content for free. No word on if Turner’s acquisition will change that.

Most Popular FishbowlNY Stories for the Week

Here’s a look at what FishbowlNY stories made the most buzz this week.

  1. Latest New York Times Magazine Cover is a Gem (left), November 9
  2. Time Warner Might Leave Manhattan, November 7
  3. The New York Times Offers Tips for Spelling Names Correctly, November 9
  4. WFAN’s Mike Francesa and Kim Jones Delve into Penn State Scandal, November 9
  5. How Sports Illustrated Learned to Stop Worrying and Embrace Digital, November 4
  6. Who Should Be Time Magazine’s Person of the Year? November 8
  7. Conde´Nast Editors Go Hollywood, November 8
  8. Insider: Metro Traffic VP/Operations Crys Quimby May Be Shown Door, November 6

Keep up-to-date with the latest FishbowlNY news. Click here to sign-up for the FishbowlNY daily newsletter, bringing you our articles each afternoon directly to your inbox.

Time Warner Might Leave Manhattan

Time Warner Inc. is searching for a new home. According to Crain’s the New York Times, the company wants to shrink its considerable office space and has begun asking New York, Connecticut and New Jersey officials about the incentives it could get if it moved.

Last week, Jeffrey Bewkes, the CEO of the tiny, cash-strapped mom and pop organization, told the New York Times that merely reducing its physical size could save the company about $150 million.

According to Crain’s, a spokesperson for Time Warner wouldn’t comment about subsidies, only stating that the company has “just begun this process of looking at our real estate footprint and what possibilities we have for the future.”

Read more

Al Jazeera English Takes New York

Most of the nation has a rather tumultuous relationship with Al Jazeera. This stems from a few things, but mostly it’s just ignorance. A majority of people still see Al Jazeera as some radical Islamic media company, when that couldn’t be further from the truth.

Despite all the negative feelings toward the network, New York City has consistently embraced  Al Jazeera - The Huffington Post reports that New York provides more traffic to its websites than any other city in the world - so now it’s hugging us all back.

Last night, at midnight, Al Jazeera English launched on Time Warner (Channel 92), and it will launch on Verizon’s FiOS in the near future. Al Anstey, Al Jazeera English’s Managing Director, said that New York’s support is critical for the network succeeding:

New York is a very important city. It’s looking at all directions on the globe and all directions are looking back at New York City. So it’s a truly global city. It’s got a very outward looking, diverse, intelligent audience – obviously an influential audience in some quarters as well. So it’s a key part of our strategy.

While the network has strong support here (and from Hillary Clinton), it still has a long way to go to get people to switch from either their local news or CNN, MSNBC or any of the other news mainstays. But getting a foot in the door in New York is a good place to start.

Time Warner Rumored to Offer $35 Million for OK! Magazine

Time Warner is rumored to have offered between $30 and $35 million for the United States version of OK! magazine. According to Sky News the timing for the acquisition might be right, as the owner of OK!Richard Desmond – is looking to sell off his newspaper and magazine titles.

Talks are in the early stages right now, so Sky News doesn’t have any insight into whether Desmond considers the offer appropriate.

OK! would be a natural fit for Time Warner if the deal does end up going through. It already publishes celebrity-focused titles People and InStyle, and despite OK! leaning more toward a tabloid, there always seems to be an audience for that kind of thing.

On that note, FishbowlNY would like to announce that we’re having a baby! It’s going to have fins and legs! Alright, aside from that being extremely creepy, it’s also not true, we just got caught up in the OK! spirit.

NYC SeedStart Media 2011 to Provide Mentoring, Funding for Media Startups

A new opportunity has just popped up for media startups in New York. NYC SeedStart Media 2011 is a 12 week summer boot camp specifically for startups in the digital media space, including ad infrastructure, mobile, digital content and ecommerce businesses.  Each of the 10 companies selected for the program will receive  $20,000 in funding, space to work, and mentoring from an impressive group of media, advertising, and tech companies in New York City that includes AOL Ventures, Comcast, Google, Hearst, MTV Networks, News Corporation, New York Times, Ogilvy, Time Warner, and Vivendi, as well as veteran VCs and entrepreneurs.  The ideal applicant is a media-focused team of two with at least one technical co-founder and a source code or beta product ready to go.  The program begins on June 15th and they’ll be accepting applications through March 31st.  To apply, click here.

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