News Corp And Facebook Team To Launch News Service

By | Thursday April 24, 2014 @ 7:11am PDT

New-News-Corp-logo__130528181445-200x71NEW YORK– Social news agency Storyful, a division of News Corp, has partnered with Facebook for the launch of FB Newswire (http://www.facebook.com/FBNewswire), a resource that will make it easier for journalists and newsrooms to find, share and embed newsworthy content from Facebook in the media they produce.

More than one billion people use Facebook to discover, explore and participate in news-making events around the world. Powered by Storyful, which discovers, verifies, acquires and distributes timely and relevant video and user-generated content, FB Newswire is a resource for journalists that aggregates newsworthy content shared publicly on Facebook by individuals and organizations across the world. This includes original photos, videos, and status updates posted by people on the front lines of major events including protests, elections, and sporting events.

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Peter Chernin Teams With AT&T In $500M Effort To Create Online Video Service

By | Tuesday April 22, 2014 @ 11:51am EDT

Peter_Chernin__130405234647-e1365205682616-200x215This is a weird, but intriguing announcement. AT&T and The Chernin Group say today that they formed a venture “to acquire, invest in and launch over-the-top (OTT) video services.” (Jargon alert: OTT is industry-speak for an online service that can take the place of traditional pay TV.) The two have committed more than $500M, but offer no details about how much each has put up, ownership stakes, etc. — although Chernin’s kicking in his majority stake in subscription VOD service Crunchyroll.  They plan to invest in ad and subscription VOD channels as well as streaming services. ”A critical part of The Chernin Group’s strategy has been our significant focus on the online video industry, and joining forces with AT&T only further underscores our strategic commitment in this area as operators, investors and programmers,” Chernin says. He adds that AT&T’s “massive reach on those platforms across mobile and broadband and their commitment to the online video space make them the perfect fit for this venture with us.” Chernin was a major supporter of Hulu back when he was Rupert Murdoch’s No. 2 at News Corp. AT&T Chief Strategy Officer John Stankey says that the combo “creates the opportunity for us to develop a compelling offering in the OTT space.”  AT&T will disclose its Q1 earnings, and talk with analysts, after the market closes today.

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More National Geographic Shakeup: David Lyle Exits, Courteney Monroe Upped To CEO, David Hill Named Chairman

By | Tuesday April 15, 2014 @ 7:06am PDT
Nellie Andreeva

hillmonroeGary E. Knell, President and CEO of the National Geographic Society, and Peter Rice, Chairman and CEO of Fox Networks Group, today completed the sweeping changes at the top of the National Geographic Channels that started yesterday with the announcement that the channels’ president Howard Owens will be leaving in June. “Today, the worst kept secret is over — I am taking my leave as CEO of National Geographic Channels,” David Lyle, who had served as National Geographic Channels CEO since 2011, wrote in an internal memo (read it in full below the post.). “I am exhilarated but somewhat saddened also.” Lyle will be replaced by a marketing executive, Courteney Monroe, who has served as Chief Marketing Officer for National Geographic Channels’ domestic networks since 2012 and is now beingnatgeo upped to CEO. She will report to the Board of Directors of the National Geographic Channels. Additionally, David Hill, Senior EVP of 21st Century Fox and a member of the National Geographic Channels Board of Directors, will now add the title of Chairman of National Geographic Channels U.S. His role is described as “providing counsel to the executive and programming leadership team.” Coming from marketing, Monroe has no production experience. Hill, who had an oversight of NGC prior to Lyle’s 2011 hire, will remain a member of the NGC Board and also continue to oversee production of American Idol.

The moves continue to expand the domain of Hill, who is one of Rupert Murdoch’s trusted lieutenants. In 2012, the long-time chairman and CEO of Fox Sports was elevated to senior EVP for News Corp. Then last summer, following the departure of Fox alternative chief Mike Darnell, he was put in charge of the network’s The X Factor and American Idol. Since then, X Factor has been cancelled while American Idol is finishing up its lowest-rated season. Meanwhile, the National Geographic Channels have done very well under Lyle and Owens. “I’m exhilarated that NGC and NG WILD are in rude health with EBITDAs (profits) at all-time highs, and with programming featuring the most watched specials, series and year in the channels’ history,” Lyle wrote in his memo. That makes the executive housecleaning puzzling. It follows speculation about a discord between Hill and NGC’s leadership team of Lyle and Owens who turned the network around in the past three years. When Hill gave up direct oversight of NGC in 2011, the move was explained with a clash of cultures between him and the team at National Geographic.
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Media Stocks Hit As NASDAQ Suffers Biggest One-Day Drop Since 2011

By | Thursday April 10, 2014 @ 4:45pm EDT

stock arrow downThe tech-heavy exchange fell 3.1% today to a two-month low as investors, fearful that the bull market for Internet and biotech companies has run its course, continued to shift their cash into more conservative investments. On NASDAQ’s worst day since 2011, the Standard & Poor’s 500 fell 2.1% and the Dow Jones Industrial Average slipped 1.6%. Media stocks also felt the chill: The Dow Jones U.S. Media Index fell 2.8%. All of the major companies we track lost ground. CBS (-3.8%) was hardest hit in Big Media followed by Time Warner (-3.7%), Disney (-3.7%), Sony (-3.6%), Viacom (-3.6%), Comcast (-2.8%), News Corp (-2.2%), Fox (-2.1%), and Discovery (-1.7%). In the rest of the sector companies licking their wounds include Pandora (-10.5%), WWE (-7.2%), Facebook (-5.2%), Netflix (-5.2%), Lionsgate (-4.8%), and RealD (-4.6%)

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Rupert Murdoch Talks About Succession, Politics, And His Greatest “Screwup”: Fortune

murdoch-rupertRupert Murdoch is all over Twitter. (“My family are horrified that I’m on it,” he says.) But in agreeing to sit down for a broad interview with Fortune, one of the media industry’s most powerful moguls signals that he’s finally ready to return in a serious way to the public stage that he has largely abandoned as he grappled with his UK hacking scandals and a bitter divorce, as well as uncertainty about the prospects for his media empire — which he split into two companies last year — and his succession plans. You should check out the piece by senior editor-at-large Pattie Sellers. Here are a few of the highlights:

Related: Rupert Murdoch Says There May Be Multiple ‘Avatar’ Sequels: Fortune

Succession: His sons James and Lachlan are first in line to take over although “I’m going to be here for a long time. And so will [Fox COO] Chase Carey and [News Corp CEO]  Robert Thomson.” murdochsThe effort to bring Lachlan back intensified after a private meeting with James at last year’s Allen & Co confab in Sun Valley. “We had two or three hours together. Lachlan was not not going to come back. It was a question of how we would work together.”

Related: Lachlan And James Murdoch Given Big New Roles At News Corp

Daughter Liz Murdoch’s decision not to join the News Corp board: Rupert says he’d “rather not go into that.” A lot of close families “have good arguments. That doesn’t mean they don’t love each other.” And it’s “more than possible” that she’ll return to the family business.

Who’ll be the GOP’s 2016 presidential candidate: Murdoch says former Florida Gov. Jeb Bush is “my number one” calling him “a man of very fine character.” He also has “particular admiration” for Wisconsin Rep. Paul Ryan. New Jersey Gov. Chris Christie “could recover” from inquiries into his possible role in manufactured traffic jams at the George Washington Bridge. Murdoch agrees with Kentucky Sen. Rand Paul on “a great number of things” but disagrees on foreign policy “too strongly perhaps to vote for him.”

His view of Hillary Clinton: He left open the possibility of supporting her but “it would depend on the Republican candidate totally.” He adds that he “could live with Hillary as President. We have to live with who we get. We don’t have any choice.” Read More »

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Media Stocks Pulled Down As Investors Unload Tech Holdings

By | Friday April 4, 2014 @ 4:17pm EDT

Stock arrow downThe tech-heavy NASDAQ fell 2.6% today, apparently reflecting fears that many companies — after soaring in 2013 — will report disappointing info on Q1 sales. The concern has been building: Netflix, for example, is down 25.7% over the past month. But it seemed to spread today, and soured the rest of the market with the Standard & Poor’s 500 -1.3% and the Dow Jones U.S. Media Index -1.7%. Viacom, down 2.8%, was the hardest hit Big Media company followed by Fox (-2.6%), Comcast (-1.8%), CBS (-1.7%), Disney (-1.5%), Discovery (-0.8%), Time Warner (-0.4%), and Sony (-0.3%). News Corp was the only gainer in the group, rising 0.1%. In the broader media universe, Barnes & Noble fell 5.4% — for an 18% drop in the two days since Liberty Media said it will sell 90% of its holdings in the book retailer. Tech-oriented media companies followed including Netflix (-4.9%), Pandora (-4.9%), Google (-4.7%), Facebook (-4.6%), Yahoo (-4.2%), RealD (-4%), and Amazon (-3.2%). Only a few media stocks appreciated. They include Madison Square Garden (+0.4%), which sold its Fuse TV network, and Scripps Networks (+0.5%) after Wunderlich Securities’ Matthew Harrigan changed his recommendation to “buy” from “hold.”

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R.I.P. Television Academy President & COO Lucy Hood

By | Wednesday April 2, 2014 @ 5:18pm PDT

Lucy HoodLucy Hood, President and COO of the Academy of Television Arts & Sciences, has died following a battle with cancer. Hood was named to the Academy post after an extensive search last June, just 10 days after longtime COO Alan Perris announced his retirement. She joined the Academy from the University of Southern California, where she had served as Executive Director of the Institute for Communication Technology Management. At the TV Academy, she reported to Chairman Bruce Rosenblum and Foundation chairman Jerry Petry and was responsible for the day-to-day operations of the Academy and its Foundation, overseeing department heads and staff and acting as liaison to the executive committees and the boards of both organizations. Her oversight also included digital strategy, corporate sponsorships, marketing, financial planning and many other facets of the organization.

Related: TV Academy Names Lucy Hood President & COO

Hood’s illness was kept very quiet, and some Academy members are shocked by the news. Rosenblum released the following statement today on her passing: “It is with profound sadness that we have learned of the passing of our dynamic and passionate President and Chief Operating Officer, Lucy Hood, after a courageous battle with cancer. Our hearts and prayers go out to her husband, Rob, and her two children, Rachel and Benjamin. Lucy was an innovator and thought leader, always focused on how to best serve an industry she loved. In the all-too short time Lucy led the Television Academy, her extraordinary impact and contributions were deeply felt throughout the organization. Lucy will be greatly missed.”
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District Court Dismisses Hacking-Related Case Against News Corp.

News Corporation CEO Rupert Murdoch leaves his flat with Rebekah Brooks, Chief Executive of News International,  in central LondonAvon Pension Fund and others who owned News Corp stock from mid-February to mid-July 2011 charged in the class action suit that Rupert Murdoch, James Murdoch, former News Of The World editor Rebekah Brooks, and other execs at News Corp (before it split into two companies) committed fraud when the UK hacking scandal was unfolding. They told the public — including in testimony at Parliament — that it was just an isolated problem, and it wasn’t. When the widespread extent of the hacking became known in mid-2011, News Corp shares fell 17%, and it derailed the company’s plan to buy British Sky Broadcasting. But a U.S. District Court in New York dismissed the case today, Reuters reports. The problem? Judge Paul Gardephe said that the News Corp execs couldn’t be held liable for statements made before the period when the plaintiffs said that they lost money.”To hold otherwise would require adopting an ‘endless breach argument,’ which would permit plaintiffs to circumvent the well-settled rule that defendants are liable only for those statements made during the class period,” Gardephe says. 

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WWE Leads Q1 Media Stock Gainers While DreamWorks Animation Falls

By | Monday March 31, 2014 @ 5:22pm EDT

Market arrows up downThe markets closed the books today on Q1 trading, and it began with a shrug for media stocks. The Dow Jones U.S. Media Index fell 2.4% over the three-month period, behind the benchmark Standard & Poor’s 500, which was +1.3%. Sony was the top-performing Big Media company, with shares +10.6%. It was trailed by Disney (+4.8%), Viacom (-2.7%), CBS (-3.0%), Comcast (-3.7%), News Corp (-4.4%), Time Warner (-6.3%) and Fox (-9.1%). There’s a much wider gap between the best and worst performers among other media companies we track most closely. World Wrestling Entertainment led the pack, helped by its launch of WWE Network, a $9.99 a month live streaming video service. Its shares appreciated 74.2% — followed by Barnes & Noble (+39.8%), RealD (+30.8%), and Cinedigm (+26.7%). At the bottom we find DreamWorks Animation (-25.2%), National CineMedia (-24.9%), and Sinclair Broadcasting (-24.2%).

Here’s how individual companies fared: Read More »

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Lachlan And James Murdoch Given Big New Roles At News Corp, 21st Century Fox; Fox Nets Group’s Peter Rice Extends Contract

UPDATE: Below the original post is a copy of Rupert Murdoch’s memo to staff at 21st Century Fox regarding today’s appointments. In it, he notes that the evolution of the company’s leadership, “underscores the considerable planning that both the Company and the Board have undertaken to ensure a vibrant future for 21st Century Fox and its shareholders.”

New-News-Corp-logo__130528181445-200x71__130923205616PREVIOUS: In what looks like a clear sign that Rupert Murdoch is putting his succession plans in order, News Corp and 21st Century Fox made big announcements early Wednesday morning outlining changes to their boards and executive structure — and each involving Murdoch’s sons. Lachlan Murdoch has murdochsbeen named Non-Executive Co-Chairman of News Corp and has been given the same titlepeterrice at 21st Century Fox, the media and entertainment company. Also at 21st Century Fox, James Murdoch has been elevated to Co-Chief Operating Officer. Further, Fox Networks Group Chairman and CEO Peter Rice, who has close ties to the Murdoch family, has extended his contract for an unspecified term. “Under Peter Rice’s leadership Fox Networks Group has continued to push creative boundaries across the company, and has grown tremendously with successful channel launches including Fox Sports 1 and FXX, an increased international footprint and enhanced sports offerings across the world,” James Murdoch said.

The … Read More »

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21st Century Fox Shareholders Approve Delisting From Australian Securities Exchange

By | Friday March 21, 2014 @ 8:30am PDT

21stcenturyfox1__131014203730-275x122This is not an unexpected move. 21st Century Fox today announced its stockholders approved the company’s request to remove its foreign listing from the Australian Securities Exchange. This just involves Fox, not News Corp, the entity that includes most of Rupert Murdoch’s publishing and Australian holdings since the operations separated last summer. Chairman and CEO Rupert Murdoch said when the plan was announced a few months ago, that the change is part of “our ongoing agenda to simplify the operating and capital structure of our Company.” Fox “has only limited operations in Australia, and we believe that consolidating the trading of our stock in the world’s largest equity market would provide improved liquidity to the Company’s stockholders and greater efficiencies for the Company.” 21st Century Fox said today it expects to file its request for the removal of its full foreign listing with the ASX on March 24. If approved, delisting is expected to occur on or about May 8. Fox said earlier that there would be no changes to its “operations, employees or business” from the delisting. CFO John Nallen also said that Fox will have a plan to help Australian investors who want to continue to hold Fox shares to own ones that trade on NASDAQ.

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Media Stocks Slip As Investor Fears About China And Ukraine Grow

By | Thursday March 13, 2014 @ 4:52pm EDT

The industry couldn’t withstand the downdraft across the financial markets today as reports in China showed weaker-than-expected industrial growth and as Russian troops began military exercises near the border with Ukraine. Stock arrow downThe Dow Jones U.S. Media Index fell 1.4%, nearly matching the drop in the Dow Jones Industrial Average and ahead of the 1.2% fall in the Standard & Poor’s 500. All of the Big Media companies we track lost ground. News Corp shares fell 2.8% followed by Fox (-1.8%), Disney (-1.8%), CBS (-1.4%), Viacom (-1.3%), Sony (-1.2%), Comcast (-1%) Discovery (-0.9%), and Time Warner (-0.9%). Biggest losers across media and entertainment included Sinclair (-4.9%), Scripps (-4.7%), Crown Media (-4.6%), DreamWorks Animation (-4.2%), and Lionsgate (-3.2%). Only a handful gained ground including exhibition companies AMC Entertainment (+2.5%) and Carmike (+0.8%); programmers Starz (+1.0%) and World Wrestling Entertainment (+0.3%); and Amazon (+0.2%), which announced today that it has raised the price of its Amazon Prime program for the first time in nine years.

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Jay Leno Reminds Bill Maher Of Israel As He’s Inducted Into TV Academy Hall Of Fame With Rupert Murdoch, Julia Louis-Dreyfus, David E Kelley, Ray Dolby & Brandon Stoddard: Video

LisaColumn__131015210634-275x198Jay Leno, being inducted into the TV Academy’s Hall of Fame on Tuesday night, said he’s glad he left NBC’s Tonight Show when he did The Television Academy's 23rd Hall Of Fame Induction Galabecause he was the oldest person on the show. Everyone else was 20 to 40 years younger than him and, while you may think you’re holding your own with them, “they’re really just laughing at you,” he explained. “You can’t be hip past a certain age. You have old guy gestures.” And when you make references to The Dick Van Dyke Show they think it’ s “a lesbian joke or something” —  and they don’t understand what you’re talking about when you say the time is “Half past 2.”

Leno told the Beverly Wilshire Hotel gathering his favorite book is Charles Dickens’ novella A Christmas Carol —  a searing indictment of 19th century industrial capitalism — and his favorite character in that classic work of literature, Mr. Fezziwig, who treated a young Ebenezer Scrooge like a son. Leno mentioned this by way of saying how proud he was that his Tonight Show was a place where people came to work hard during the day and, at 6, they went home to be with their family.

Related: Jay Leno’s TV Hall Of Fame Acceptance Speech: Video

Emmyslogo_newEven though he’s now “jobless and penniless” Leno still is a “fantastic stand-up,” said Bill Maher, who inducted Leno into the Hall, and the fact people are wondering what he will do next proves he’s still relevant, the HBO show host said. He described Leno’s more than two decades hosting Tonight as a drive down a highway in “some giant gleaming pristine luxury car with the competition far in the rearview mirror — except one time when NBC,” driving some beat-up clunker, “blindsided him and beat the sh*t out of his beautiful car.” Maher blamed TV critics for rewriting history to make Leno’s predecessor, Johnny Carson, out to be some guy who did a “rebellious, edgy, film noir version” of Tonight Show that by comparison made Jay look like a milquetoast. “That’s all bullsh*t — and I say that as a fan of Carson,” Maher said. Leno is the victim of “some bad publicity over the years” that he did not deserve — most famously how America got it into its head that “Jay Leno stole Conan O’Brien’s dream,” Maher complained, calling it,  “the most hysterical thought I’ve ever heard, in a business known for bullsh*t.”

“Jay reminds me a little of Israel,” Maher continued. “He isn’t perfect but he’s held to standard I don’t think anybody in the world is expected to live up to but him,” he said, calling Leno “the most Machiavellian and also the most morally upright person I know in show business. He will hide in a closet but never needs a confessional booth.” Read More »

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Jeff Berg’s Resolution Agency Gets Investment Boost From China

By | Tuesday March 4, 2014 @ 12:49pm PST

ResolutionlogonewIn the first deal involving a Chinese company taking a financial stake in a Hollywood talent agency, Jeff Berg’s Resolution said today that Beijing-based Bison Capital Holdings has made an investment in the company. The deal means Resolution will advise and consult for Bison, whose founder Peixin Xu serves as an independent director of China’s Bona Film Group, which is 17%-owned by 21st Century Fox. Also, News Corp China Investments CEO Jack Gao will join Resolution’s board of directors. “This partnership will allow us to fund strategic expansion in the global marketplace,” Berg said in announcing the deal today. Bison’s China-based media investments include AirMedia Group, a provider of advertising platforms outside of the home in China. David Unger, the first agent from Berg’s former home ICM to join Resolution after its founding in January 2013, was key in the Bison deal; in addition to film and TV clients he guides Resolution’s media finance group and is the main player on the international side. Berg said Unger will “be coordinating our new China activities as we build our presence in Beijing with Bison.”

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News Corp Gets Angelina Jolie Stuntwoman’s U.S. Phone-Hacking Suit Tossed

By | Tuesday February 25, 2014 @ 10:12am PST

DJP LEGAL BADGEThe Stateside phone hacking-scandal suit that a former body double for Angelina Jolie filed against News Corp last summer looks likely to end up in the U.K. if a federal judge doesn’t change his mind. Before a hearing Monday on the company’s motion to dismiss, Judge Michael Fitzgerald said in a tentative ruling that Eunice Huthart‘s case belonged in “the courts of New-News-Corp-logo__130528181445-200x71__130923205616England and Wales” not the U.S.

Alleging that her phone was tampered with in 2004 while living with Jolie in L.A., Huthart’s initial complaint on June 13 was the first hacking scandal suit filed against News Corp and its UK Press arm in the U.S. Back in September of last year, News Corp and News International filed their motion to toss the case or have it move to Britain. After issuing his tentative and hearing arguments from lawyers representing the English-born stuntwoman and the media corporation, Judge Fitzgerald said he would take the matter under submission (read it here). Though it happens, it is very unusual for a judge to reverse himself after issuing such a clear tentative.

Related: Phone-Hacking Trial – Rebekah Brooks Cleared Of One Charge As Defense Begins

Eunice-Huthart__130618160954-200x130As has proven the case in many of the suits in the on-going hacking-scandal, the longtime ex-Jolie stuntwoman’s allegations are years old. Huthart, whose most recent gig … Read More »

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Media Stocks Slammed As Markets Reel From Weak Economic Data

By | Monday February 3, 2014 @ 4:31pm EST

Stock arrow downDisappointing data about factory performance added to investor concerns about prospects for the economy as the Federal Reserve pulls back on its stimulus efforts. The Dow Jones U.S. Media Index fell 2.7% today — ahead of a 2.3% drop in the Standard & Poor’s 500 and 2.1% slide in the Dow Jones Industrial Average. All but a handful of the companies we track lost ground. CBS was hardest hit among Big Media, with shares off 4.1%. It was followed by Viacom (-4.0%), Disney (-3.6%), Sony (-3.2%),  Comcast (-3.1%), Fox (-3.0%), News Corp (-2.8%), Discovery (-2.2%), and Time Warner (-2.1%). In the broader media universe, companies licking their wounds today include DreamWorks Animation (-7.4%), Lionsgate (-5.6%), IMAX (-5.4%), Starz (-5.3%), and AMC Networks (-4.7%). The few gainers include Cinedigm (+4.6%, touching a multiyear high during the day), AOL (+1.7%), Time Warner Cable (+0.6), and Apple (+0.2%).

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20th Century Fox Television Ups Howard Kurtzman & Mark Pearson

By | Wednesday January 29, 2014 @ 11:00am PST

kurtzman1pearson120th Century Fox TV has promoted Howard Kurtzman to President, Business Operations, and Mark Pearson to EVP Brand Management and Digital Media. Both report to chairmen and CEOs Dana Walden and Gary Newman, who made the announcement today. Kurtzman will expand his responsibilities to include additional involvement with the studio’s expanding cable production units Fox 21 and Fox Television Studios, while continuing to oversee the company’s business and legal affairs operations. Pearson continues to lead the exploitation of the studio’s brands across all distribution channels, with specific emphasis on digital and new media, overseeing the company’s Brand Management, Strategy, Marketing, Research and Music operations. He helps guide Twentieth TV’s home entertainment, DVD and SVOD strategies, and works alongside the syndication division on new broadcast and cable sales and the digital entertainment group on developing mobile apps and games. Read More »

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UPDATE: Hollywood Remembers Tom Sherak

By | Tuesday January 28, 2014 @ 7:19pm PST

Tom SherakR.I.P. Tom Sherak

Hollywood is honoring the life and legacy of former Academy of Motion Picture Arts and Sciences President Tom Sherak, who died today at 68. Here is a sampling of the reactions:

Cheryl Boone Isaacs, Academy President:
“In the more than 30 years I’ve known Tom, his passionate support of and excitement about the motion picture business, the Academy, his family and friends never wavered. He was truly larger than life, and he will be missed.”

Dawn Hudson, Academy CEO:
“He was my mentor and my friend. I learned from him, I laughed with him, and I couldn’t be more grateful for the time we shared together. He had a huge influence on the direction of our Academy and on me personally. I will miss laughing with him most of all.”

Related: Tom Sherak: “It’s About Love”

Los Angeles Mayor Eric Garcetti:
“I am devastated to learn of the passing of my close friend and advisor Tom Sherak. Tom was a true Hollywood original, moving up the ladder to promote blockbusters, running the Oscars and having a bulging rolodex filled with not just A-list contacts, but so many close friends who were smitten by his humor, drive, and spirit. In just a few short months, Tom laid a policy foundation that my Administration will stand on for the next four years. Tom’s work will continue through my office and the many charities to which he devoted … Read More »

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Media Stocks Buffeted By Investor Concerns About Emerging Markets

By | Friday January 24, 2014 @ 6:06pm EST

The Dow Jones U.S. Media Index fell nearly 2% today as Wall Street dealt with the biggest single-day stock selloff it has seen since June. The stock arrow downbenchmark Standard & Poor’s 500 fell 2.1% as investors bailed out of stocks and currencies from emerging markets including China, South Africa, and Turkey. All Big Media companies lost ground today with Disney (-2.8%) followed by Viacom (-2.5%), CBS (-2.2%), News Corp (-2.2%), Time Warner (-2.0%), Fox (-1.5%), Discovery (-1.4%), Comcast (-1.3%), and Sony (-0.4%). In the broader group of companies that we track, big losers included New York Times (-5.5%), DreamWorks Animation (-4.3%), Best Buy (-4.0%), Facebook (-3.9%), Yahoo (-3.8%), Google (-3.2%), and Pandora (-3.2%). Only a handful of companies advanced including SFX Entertainment (+2.7%), RealD (+0.8%), and Regal Entertainment (+0.5%). Two stocks that have been rising of late touched new 52-week highs during the day: AMC Entertainment (which closed +0.5%) and World Wrestling Entertainment (+0.4%).

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