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Posts Tagged ‘CNBC’

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: Risen Appeal Rejected | Top Social TV Shows

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Supreme Court Will Not Review Risen Case (The Guardian)
The U.S. Supreme Court on Monday declined to review a lower court’s order requiring a New York Times reporter to testify in a criminal case against a former source, deepening the court’s silence on the question of protections for journalists and confidential sources. FishbowlDC The issue dates back to a May 2011 subpoena received by James Risen to identify a source for his 2006 book State of War: The Secret History of The CIA and the Bush Administration. NYT The court’s one-line order gave no reasons but effectively sided with the government in a confrontation between what prosecutors said was an imperative to secure evidence in a national security prosecution and what journalists said was an intolerable infringement of press freedom. NPR / The Two-Way Risen has said he would refuse to testify in order to protect the identity of his source. Federal prosecutors argued that they need him to testify to pursue their criminal case against Jeffrey Sterling, a former CIA officer. WSJ A divided U.S. appeals court based in Richmond, Va., sided with the government last year, ruling that Risen didn’t have a reporter’s privilege allowing him to refuse to testify about the source and scope of classified information allegedly disclosed to him. The court said there is no privilege in criminal cases that protects a reporter from testifying about conduct the reporter allegedly witnessed or participated in. USA Today Since Obama took office, federal authorities have filed at least seven leak-related criminal cases, including against former National Security Agency contractor Edward Snowden for leaks about government surveillance programs and Army Pfc. Bradley Manning for giving classified information to the website Wikileaks.

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Morning Media Newsfeed: Walters Signs Off | Abramson/NYT Fight Unfolds | FCC Approves Proposal

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Two Dozen Women of TV News, Barbara Walters’ Legacy, Join Her on Her Final View (TVNewser)
Thursday afternoon, the legacy of Barbara Walters came to life in the finale of her final The View, taped at ABC’s Westside studios and set to air Friday. Mediaite All 11 current and former co-hosts of The View turned up to send off Walters. In an emotional segment, the hosts shared their fondest memories of the program’s founding member and some of the advice that they said guides them in their present careers. THR / The Live Feed Oprah Winfrey and Hillary Clinton were among the surprise guests who showed up to say goodbye. After more than 50 years in TV news, Walters is officially retiring, leaving her co-hosting gig on The View, but she’ll continue to serve as the show’s executive producer and contribute to ABC News on an as-needed basis. The Associated Press Walters brought the hour to a close with a heartfelt statement looking back with amazement on her career, then signing off with a pledge to “take a deep breath and enjoy my View.” But a more telling moment took place during a break, as the throng of women she had paved the way for posed with her for a group portrait. TheWrap The cadre of A-List media stars who gathered for the photo included Winfrey, Katie Couric, Joan Lunden, Robin Roberts, Connie Chung, Gayle King, Maria Shriver, Paula Zahn, Jane Pauley, Savannah Guthrie, Elizabeth Vargas, Lara Spencer, Tamron Hall, Diane Sawyer, Cynthia McFadden, Natalie Morales, JuJu Chang, Amy Robach, Deborah Norville and Hoda Kotb, as well as Walters’ co-hosts, Whoopi Goldberg, Joy Behar, Rosie O’Donnell, Elisabeth Hasselbeck, Debbie Matenopoulos, Lisa Ling, Star Jones, Jenny McCarthy and Meredith Vieira.

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Morning Media Newsfeed: Comcast Pleads Case | DirecTV Restores TWC | Breitbart Loses Whip

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As Comcast Takes Next Step in TWC Merger, Opposition Groups Band Together (TVNewser)
Comcast took the next step in its $45 billion acquisition of Time Warner Cable Tuesday morning by filing a joint Applications and Public Interest Statement with the FCC. In a blog post about the filing, Comcast EVP David Cohen argued that the deal is good for consumers, especially current TWC customers. Those opposed to the deal, understandably, don’t think so. Fifty groups sent a letter to the attorney general and FCC chairman Tuesday asking that the deal be blocked. Capital New York The 650-page document filed with the FCC outlines the reasons Comcast believes the proposed merger with TWC would be in the public interest. Much of the document spelled out in granular detail arguments made by Comcast in its original announcement of the proposed deal, but there are some notable new takes. Comcast now sees itself as a tech company, in competition with Google, Facebook and Netflix just as much as traditional competitors like DirecTV and Verizon. Comcast argues that it doesn’t compete with TWC, as they do not operate in the same areas. Variety Critics have claimed the Comcast-TWC merger, which would create an entity that controls 30 percent of the country’s pay-TV market, is decidedly not in the public interest because it would result in fewer choices and higher prices for consumers. Moreover, the combination “could compromise the open nature of the Internet,” Sen. Al Franken told Justice Department officials last month. CNET Last week, Comcast filed a Hart-Scott-Rodino notification with the U.S. Department of Justice, which will begin the antitrust review of the merger. And on Wednesday, Cohen will testify about the merger before the U.S. Senate Judiciary Committee. Now that the official filing has been made in the merger, which was announced in February, the FCC will have a self-imposed deadline of 180 days to review and make its decision. USA Today Facing a growing number of customers flocking to streaming video and content providers demanding more payment for programs, TWC agreed in February to be bought by Comcast for $45 billion. The acquisition would give Comcast access to key media markets that it has coveted, including New York and Los Angeles, and occupy about 40 percent of the Internet service market, or about 32 million customers.

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Another Year, Another Staged China Prime Minister Press Conference

NTYSinosphereLogoEvery March in the Great Hall of the People near Tiananmen Square in Beijing, a live-TV press conference with the Prime Minister of China caps an annual conference known as the National People’s Congress. And as New York Times Beijing bureau reporter Andrew Jacobs notes, every year it’s the same bogus drill:

But unbeknownst to many people in China, all the questions had been vetted in advance, with foreign reporters and Foreign Ministry officials having negotiated over what topics were permissible, and then how the acceptable questions would be phrased.

This year CNN, Reuters, CNBC, The Associated Press and the Financial Times were among the outlets permitted to ask questions. Most of those who covered the event agreed it was a lackluster affair, without even a nugget of bona fide news.

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Morning Media Newsfeed: Newsweek Controversy | Mexico Moves on Telco | NJ President Out

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Controversy Marks Newsweek’s Comeback (The Associated Press)
A mystery man. A splashy reveal. A media frenzy. Newsweek staked its return from the dead Friday on a story it knew would get attention. A cover story claiming it had uncovered “the face behind Bitcoin,” the world’s most popular digital currency. Twenty-four hours after identifying Bitcoin’s creator as a 64-year-old former defense contractor employee living in Los Angeles, the controversy over whether or not Newsweek had outed the right man was so furious that Newsweek reporter Leah McGrath Goodman made the rounds on Bloomberg TV and CBS Morning News to defend her reporting against Dorian Nakamoto’s denials that he is the father of Bitcoin. Mashable For the first few hours after the article was published online Thursday, Newsweek enjoyed the kind of attention that most publications would kill for. The Bitcoin story dominated the conversation on social media; 700,000 readers had viewed it as of 5 p.m. ET on Thursday. It went on to top 1 million views. FishbowlNY Within the first few hours of the story’s release, however, Nakamoto emerged to deny any involvement with the digital currency, prompting a media frenzy. In a two-hour interview with the AP Thursday, Nakamoto denied having any involvement in Bitcoin, and the only reason he had ever heard of it was because a Newsweek reporter contacted his son three weeks ago. Nakamoto also said that during a brief interview at his home, McGrath Goodman misunderstood him (English isn’t Nakamoto’s first language). Politico / Dylan Byers on Media The account that created Bitcoin in 2009 has also suggested that the Newsweek story is inaccurate: “I’m not Dorian Nakamoto,” said the account holder, whose online name is Satoshi Nakamoto, according to USA Today. Newsweek In a statement released Friday, Newsweek defended the story: “Goodman’s research was conducted under the same high editorial and ethical standards that have guided Newsweek for more than 80 years. Newsweek stands strongly behind Goodman and her article”

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Morning Media Newsfeed: Bartiromo Joins FBN | Bloomberg Layoffs | Don Lemon Promoted

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Maria Bartiromo Leaving CNBC for FBN (TVNewser)
Maria Bartiromo is leaving CNBC to join Fox Business. “After 20 years of groundbreaking work at CNBC, Maria Bartiromo will be leaving the company as her contract expires on Nov. 24,” a CNBC spokesperson tells TVNewser. “Her contributions to CNBC are too numerous to list but we thank her for all of her hard work over the years and wish her the best.” Capital New York Bartiromo was one of CNBC’s first breakout stars, becoming a fixture in the financial news world and garnering the nickname “Money Honey” along the way. She marked her 20th anniversary at the channel last month. NYT Bartiromo is expected to work on a program about the day’s developments on Wall Street. Her new deal is also expected to include exposure on the far-more-watched Fox News. The signing is a coup of sorts for Fox Business, which has struggled to establish a profile. Last week, Fox Business averaged fewer than 10,000 viewers in the group that attracts advertisers, those between the ages of 25 and 54. CNBC had more than three times as many with 31,000. Reuters Bartiromo has won two Emmy awards and written several books as well as columns for magazines and newspapers, including USA Today. Politico / Dylan Byers on Media In a statement to Politico, Bartiromo said she was “incredibly proud” of what the CNBC had accomplished over the last two decades. “I want to thank all the people at CNBC who have been with me on this journey, and of course the viewers and investors everywhere for making me love every minute of it,” she said.

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Only One Player at the U.S. Open This Weekend Will Be Wearing a $690,000 Watch

When Rafael Nadal steps on to the court tomorrow to take on Frenchman Richard Gasquet in one of two U.S. Open men’s semi-finals (the other features Novak Djokovic against a Swiss player not named Federer), he will as usual have some stellar time-keeping reinforcement on his right wrist.

In case you missed it, CNBC “Inside Wealth” columnist Robert Frank had a fascinating look earlier this week at the latest watch worn during matches by Nadal. The first one designed in partnership with Richard Mille sold out quickly on the consumer side at $525,000 a pop. The new model sported these days by the Spaniard (the RM027-01) will retail for a cool $690,000:

Nadal’s signature left-handed “whip” forehand has been clocked at over 4,000 revolutions per minute, and although the watch is on his right wrist, they wanted it to be durable enough to withstand huge force when he plays his double-handed backhand, which can clock in at more than 3,000 RPM.

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Morning Media Newsfeed: Silver Dishes on NYT Exit | Bartiromo Bolting CNBC? | NY Post Ailing?


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Nate Silver Went Against The Grain for Some at The Times (NYT / Public Editor’s Journal)
I don’t think Nate Silver ever really fit into the Times culture and I think he was aware of that. He was, in a word, disruptive. Much like the Brad Pitt character in the movie Moneyball disrupted the old model of how to scout baseball players, Nate disrupted the traditional model of how to cover politics. A number of traditional and well-respected Times journalists disliked his work. The first time I wrote about him I suggested that print readers should have the same access to his writing that online readers were getting. I was surprised to quickly hear by email from three high-profile Times political journalists, criticizing him and his work. They were also tough on me for seeming to endorse what he wrote, since I was suggesting that it get more visibility. FishbowlNY This is all understandable. Old people don’t like change, and writers have egos. And maybe Silver acted a bit too above everyone else and that earned him some pages in the Times’ burn book. HuffPost / The Backstory On Monday afternoon, this reporter asked Silver about the Times public editor’s column, whether he felt constrained by the Times newsroom culture, and if he had enough support from colleagues. “I had plenty of support, I felt, from [executive editor Jill Abramson] and from other key people at the Times,” Silver said. “I don’t really want to dwell too much to my relationships there. It was not — I would say, I love the people at ESPN.” Silver added that any cultural issue was “not a big factor” in his decision. NY Mag / Daily Intelligencer “I’m interested in running a website, building out a business here, and having my opportunity to weigh in on different topics,” Silver said, responding to Times public editor Margaret Sullivan’s comments. “I’m not interested in who I’m getting a beer with. I have plenty of people in my social circles for that.” TheWrap / MediaAlley In a conference call with the press, ESPN president John Skipper said FiveThirtyEight will be similar to Bill Simmons’ Grantland, which is also owned by ESPN. The FiveThirtyEight name and URL were purchased for an undisclosed amount. Previously, Silver owned those rights and licensed them to The New York Times for a three-year contract. Its deal with Silver is a “long-term, multi-year deal.” TVNewser Put another way: If Silver leaves ESPN in a few years, FiveThirtyEight will not be going with him, but rather staying with ESPN and ABC. paidContent Silver stressed that “we’re not pulling back from politics. We’ll probably hire at least one more person to cover politics fulltime” and said that the new site’s only guaranteed coverage areas will be sports, politics and some economics. As for other topics, “if we find the right person, we might hire in that vertical… We’re looking for people who can think, do math and write. Those skills don’t always overlap, so it’s going to be an intense search process for us.” TVNewser Silver’s migration from the Times to ESPN represents more than a new URL — it augurs a sea change in the news business itself, experts say.

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Veteran of Bloomberg Radio and CNBC, Jim Kingsland Dies at 49

Jim Kingsland had business news in his blood. He worked for every major financial media company, including Bloomberg LP, from 1992 to 2006. Kingsland died this week at age 49 after a long illness.

He had severe diabetes, which led to a liver transplant several years ago. His eyesight was poor and his pancreas was compromised.

At Bloomberg for much of the time, he was news director at WBBR.

Wes Richards was host of Bloomberg on the Weekends.

“He had the right stuff, he did the right thing,” Richards tells FishbowlNY. “He was a pleasure to work for and work with and an island of calm and rationality in a sea of chaos.”

Kingsland bookended Bloomberg with FNN/CNBC and Fox Business Network from 2007 to 2010 as assignment editor.

The business journalist also had a passion for numismatics–the study of currency–founding JK Numismatics in November 2006, according to his LinkedIn page.

Kingsland worked at a pair of small suburban stations early in his career. He also was a 1010 WINS traffic reporter via Shadow Traffic in the mid 1980s.

Jim is survived by his wife, Melissa, and three children, Rachel, Benjamin, and Nathan.

Photo credit: www.coinnews.net

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