Check Out Our New Look

TCA Postmortem: Consolidation News Framed Press Tour Conversation

By | Friday July 25, 2014 @ 8:48am PDT
Nellie Andreeva

TCA Postmortem: Consolidation News Framed Press Tour ConversationWith the power of fans growing and the influence of TV reviews declining in the age of social media, the once marque summer TCA press tour has been taking a back seat to Comic-Con. Once again, the Los Angeles critics convention served as a warm-up for the San Diego geekfest, with the networks trying to save their noisy announcements for the Con. But what would’ve been another uneventful summer TCA was livened up by two big consolidation stories that broke in the first and second week — 21st Century Fox’s decision to put both the broadcast network and 20th Century Fox TV under the studio’s chairmen and CEOs Dana Walden and Gary Newman, and the company’s (for now unsuccessful) bid to acquire Time Warner.

TCA Logo New (2)The first news, which had been widely expected, was met largely with approval as an inevitable move in an industry where owning content is becoming more and more important. CBS has helped grow CSI into a billion-dollar franchise for the parent company, which owns the show. Compare that with The Big Bang Theory, which CBS developed and nurtured to a blockbuster hit that would make as much as $3 billion — for another company, Warner Bros. TV. Watching how much money it has made for WBTV, with the Chuck Lorre series, and for 20th Century Fox TV, with How I Met Your Mother, the network focused on growing its own syndicatable comedies, recently renewing CBS Studios-produced The Millers for a second season. During CBS’ TCA executive session, chairman Tassler was asked whether ownership played a role in the decision to renew The Millers over two 20th TV freshmen, The Crazy Ones, which drew bigger DVR ratings increases, and Friends with Better Lives, which showed better retention. “We will never ever, ever discriminate based solely on ownership,” Tassler said. “We feel that The Millers has a lot of great story material still imbedded in the DNA of the show.” Read More »

Comments (0)

BSkyB To Acquire Fox’s Sky Italia & Deutschland Stakes, Create European Giant

BSkyB To Acquire Fox’s Sky Italia & Deutschland Stakes, Create European GiantAs expected, BSkyB said this morning that it will create “a world-class multinational pay TV business” with the acquisition of 100% of Sky Italia and 57.4% of Sky Deutschland. The UK’s leading pay-TV player has acquired the stakes from Rupert Murdoch‘s 21st Century Fox in a deal worth about £4.9B ($8.3B) in cash, plus assets. (Fox owns and will retain a 39% stake in BSkyB.) The combined group will have 20M subscribers in Europe across three of the four biggest markets. BSkyB will pay £2.07B for Sky Italia and £2.9B for Deutschland. It will also transfer its 21% ownership of National Geographic Channel to Fox at a value of £382M ($649M). That will raise Fox’s stake in the channel to 73%. BSkyB says it will also launch a voluntary cash offer to the remaining shareholders of Sky Deutschland at 6.75 euros ($9) per share. Subject to the number of shareholders who accept the offer, the overall cash value of the deals announced today could reach £7B ($11.9B). The moves come as BSkyB reported adjusted revenue for the year was up 7% to £7.6B ($2.9B).

The moves to create Sky Europe also come as Fox pursues a mega-acquisition of Time Warner. While speculation has been that the deal to combine the Skys was designed to raise funds for another eventual run at TW, it’s also considered that this deal has a distinct raison d’être and exists on its own … Read More »

Comments (0)

Does Time Warner Need CBS To Thwart A Fox Takeover?

Does Time Warner Need CBS To Thwart A Fox Takeover?Time Warner CEO Jeff Bewkes has a problem. Fox CEO Rupert Murdoch is preparing to sweeten his offer for the owner of Warner Bros, CNN, and HBO after it rejected an $80B cash-and-stock proposal last month. And Bewkes, who says he wants to keep Time Warner independent, has few takeover defenses. What can he do? Here are a few of the leading options that Time Warner execs and their advisors at Citigroup are weighing.

Corporate And Media Leaders Attend Allen & Company Media And Technology Conf.Combine with CBS: This would make Time Warner toxic for Fox: The FCC would not allow Murdoch to control two of the four biggest networks, and two of the largest TV station groups with overlaps in the nation’s largest markets.

And the business logic of a Time Warner-CBS combination is compelling. CBS chief Les Moonves would like to diversify his company to make it less dependent on domestic TV advertising. (He has already said that he’d like to buy CNN if Fox prevails with Time Warner and puts the news channel on the block.) Moonves also has made it clear that he’d like to play a bigger role in movies — his CBS Films appears to be struggling to figure out its identity. CBS could address these concerns by blending with Time Warner’s cable channels and movie studio.

The chief obstacle is that CBS is controlled by Sumner Redstone, who also owns Viacom. He hasn’t wanted to give up either property, and some bankers believe he’d prefer to … Read More »

Comments (4)

BSkyB Deal To Create Sky Europe Said Nearing

By | Thursday July 24, 2014 @ 11:16am PDT

BSkyB Deal To Create Sky Europe Said NearingWhen BSkyB reports its full-year results tomorrow, it is expected to announce a deal to acquire 57% of Sky Deutschland and 100% of Sky Italia from 21st Century Fox. Speculation has swirled that this deal is near since it emerged that Rupert Murdoch’s behemoth had bid $80B bid for Time Warner. In May, UK pay-TV giant BSkyB confirmed it had initiated preliminary discussions with Fox to evaluate a potential acquisition of the latter’s pay-TV assets in Germany and Italy. Fox also owns 39.1% of BSkyB. A combination of the businesses would have about 20M subscribers, and could also provide a payday to Fox of an estimated $13B. I’ve been cautioned that these funds are not necessary for Fox to be able to up its bid for TW, but it would put extra money in the coffers while creating a huge pan-European group. “It could just be that 21st Century Fox sees it as a useful way of generating funds and eases management time to concentrate on other things. But the reason for doing it would exist on its own merits,” Enders Analysis’ Toby Syfret tells me. It’s worth remembering that English Premier League soccer rights are coming to auction again in 2015 and extra cash could certainly come in handy. Read More »

Comments (1)

Hollywood “Obsessed” With Human Torture, And Other TCA Highlights

By | Thursday July 24, 2014 @ 8:23am PDT

Hollywood “Obsessed” With Human Torture, And Other TCA HighlightsThe TCA Summer TV Press Tour 2014 has wrapped its 16-day run. Here is what we learned:

Most Searing Description Of Hollywood
David LaChapelle, who famously became a photographer for Andy Warhol’s Interview magazine in his teens, has been called The Fellini of Photography, and has photographed the likes of Hillary Clinton, Lady Gaga, Tupac Shakur, Madonna, Eminem, Warhol, Lil’ Kim, Elizabeth Taylor,  Leonardo DiCaprio, and Muhammad Ali, was asked yesterday to discuss the “ebb and flow” of depictions of sex and nudity; he’s featured in PBS’ American Masters broadcast The Boomer List.

lisademoraescolumn__140603223319“Growing up in New York City, when I was very young, pre-AIDS, it was very hedonistic, and sexuality was, you know, the revolution. I remember working at [Studio 54] and straight guys would say they were bi, to pick up girls because it was cool. And then, AIDS happened, and everything changed. Things got very, very conservative and segregated. Now…we are sort of in this Dark Ages where the body is considered shameful…yet violence, and torture, and these films — the Saw series, The Hunger Games2014 Summer TCA Tour - Day 16you look at Netflix, what’s going on, and every other new show is extreme violence, and this is our entertainment. We applaud that. And our kids are playing these video games, but yet the human body is somehow shameful. And God forbid a kid sees a nipple, you know.”

TV programs such as HBO’s Sex And The City (Kim Cattrall also was a panelist), he said, have “been replaced by so much ultra-violence in this torture form. I find that really interesting because all our popular culture reflects the society in which it was created. So what does that say about us? Why are we so obsessed with watching other human beings suffering? We don’t get enough of it on the news that we — that’s our entertainment, too? I think that’s the real pornography. That’s the real evil, and that’s the real darkness.”

Most Changed Executive
NBC Entertainment chairman Robert Greenblatt — last Press Tour’s Mr. Flat Is The New Up — spoke happily this tour about Up Being The New Up: “We had a pretty great season so far this year. We’re No. 1 in the demo. We’re the only network up, year to year, almost 10% to date. Even if you take the Olympics out of our numbers, we would still be No. 1 for the year…We’re also leading in the 25-54 demo, and all key adult female demos as well. We also had a huge growth in total viewers where we’re running No. 2 season to date. In fact, we’re up 27% year over year, which is our strongest performance this far into the season in eight years.”

Biggest News
CBS Corp CEO Leslie Moonves, telling reporters after his Q&A for the network’s new Thursday night football that he’s interested in buying CNN should Rupert Murdoch prevail in his bid to by the cable news network’s parent Time Warner and spin off CNN. “We’ve always talked about doing things with CNN in the past… It’s something I’m sure we’ll look at if it becomes available,” Moonves said. Last month, when CBS took the final step in the spinoff of its billboard company, “that was our intent, to get rid of billboards and potentially buy more content,” Moonves said, adding, “We’re in a very advantageous position.”

Read More »

Comments (0)

Jon Stewart Launches Kickstarter Campaign To Buy CNN: Video

Jon Stewart Launches Kickstarter Campaign To Buy CNN: VideoBecause Rupert Murdoch wants to buy Time Warner, and journalists have reported Murdoch would sell off Time Warner‘s cable news network CNN, Jon Stewart last night launched a Kickstarter campaign to raise $10 billion in order to buy the network “and do…something with it. Not quite sure what yet.” ”CNN, America’s first 24-hour cable news network, has been terrible for many, many years. Does it have to be that way? Who knows, maybe it does,” The Daily Show host’s campaign explains. “So let’s find out for ourselves! This $10 billion, all-cash bid for CNN would secure control of a massive television network reaching over 100 million homes in the US alone, which we could then use to rebuild a news organization befitting this proud land. Or more likely we’d use it to make a lot more poop jokes. Either way, you get to watch!”

A mere $10 contribution gets your photo in an on-screen “21 box” of  talking heads. For $15,000 it’ll be just you and Carol Costello in a “2 box”, with 5 minutes of freestyling. And for $5 million, CNN will initiate a 24-hour, 2-week hunt for your lost car keys. Watch here:

Comments (2)

Merger-Mania Could Depress Big Media Stocks: Analyst

By | Wednesday July 23, 2014 @ 8:23am PDT

Merger-Mania Could Depress Big Media Stocks: AnalystCowen and Co’s Doug Creutz advises investors today to “call a ‘time out’” on Big Media stocks in a break with the prevailing view on Wall Street that an upcoming round of mergers could help companies, or at least not hurt them. He fears that Fox’s bid for Time Warner will lead to “a land grab for content assets.” And companies that need cash for acquisitions probably won’t continue to repurchase shares and pay big dividends — strategies that have helped to keep investors interested in traditional media. The analyst says he now takes a ”more negative view” of Big Media, and downgraded Fox (to underperform from outperform), Viacom, and Time Warner (both to market perform from outperform). “Historically, this group has been uninvestable when M&A activity has been significant.”

Creutz observes that when Fox CEO Rupert Murdoch has had dealmaking on his mind “the shares of his company have underperformed the market.” And the analyst says he’s “not a believer that a combination with Time Warner would create significant value.”

It’s too risky to bet on traditional media, Creutz says, especially at a time when their stock prices are “near multi-year highs.” The advertising slow down in Q2 “feels like it was a little worse” than previous soft patches. It could become “a more significant negative” if the economy weakens. The pay TV cash cow could be threatened as “new over the top [Internet] distribution appears to be opening the door for insurgent content providers to potentially take market share.” And Creutz notes that the “dismal” … Read More »

Comments (1)

WGA West Brass Use Fox-TW Drama To Drum Up PAC Money

By | Tuesday July 22, 2014 @ 7:42pm PDT

WGA West Brass Use Fox-TW Drama To Drum Up PAC MoneyWGA West President Chris Keyser sent a “private” email today to select members of the guild in a pitch for money to support the WGA political action committees’ lobbying efforts. Guild leaders, who oppose virtually all media mergers, used Fox’s proposed takeover of Time Warner as the drumbeat to scare up money to support its PAC’s ongoing political activities.

According to the guild’s latest filing with the Department of Labor, its political action committee spent $347,037 last year WGAwestblackandwhitelogoon “political activities and lobbying,” and it wants to raise even more this year. The PAC was formed in 2009, and the guild says that it is funded solely from voluntary contributions from its members. “WGAW assets will not be used to fund contributions to the WGAW PAC,” the guild told the Department of Labor. “WGAW PAC will solicit and raise voluntary contributions from the WGAW members, which will be used to support political activities on behalf of writers.” The guild’s PAC is administered by an 11-member committee that includes the guild’s elected officers and executive director. Day-to-day operations are delegated to a firm of election law attorneys.

Related: Time Warner Changes By-Laws To Help Block A Hostile Takeover

In the supposedly private email, Keyser and negotiating committee co-chairs Chip Johannessen and Billy Ray pointed to a New York Times headline about the proposed Fox takeover of TW (“$80B Offer From Rupert Murdoch Puts Time-Warner In Play”) saying, “If this headline scares you — and it should — then consider this a call to arms.” The email said the pitch letter was “paid for” by the guild’s political action committee. Read More »

Comments (5)

Netflix Says It Sees Little Change If Fox Acquires Time Warner

Netflix Says It Sees Little Change If Fox Acquires Time Warner“Fox and Warner are both pretty powerful companies today. … I don’t know how it changes much if they come together,” Netflix Chief Content Officer Ted Sarandos told analysts today when asked about Rupert Murdoch’s bid for the entertainment giant. The effort probably has “more to do with cable negotiations with sports.” CEO Reed Hastings added that he would offer “no speculation” about what Netflix might do if Fox and Time Warner agreed to merge. “The more we work directly with producers, the less we have to worry with aggregation and big content suppliers.”

Related:
Media Merger Mania: Fox’s Bid For Time Warner Is Just The Beginning
Time Warner Shares Soar On Reports Of $80B Offer By Rupert Murdoch

On other matters: Sarandos talked up Chelsea Handler’s upcoming late-night talk show, saying her focus on entertainment and pop culture will make it “a great representative of the kind of programming on Netflix.” A nightly show makes sense for a company known for binge viewing because viewers are “not watching late-night talk shows the way they used to. They’re watching days weeks and sometimes months later.” The show ”is not instantly perishable content. It’s more perishable, but the economics level that out for us.”

Related: Netflix Touts ‘Orange Is The New Black’ As Q2 Earnings Meet Expectations

Sarandos also says that Netflix will premiere the upcoming AMC series Better Call Saul outside of North America. He talked up the … Read More »

Comments (0)

Time Warner Changes By-Laws To Help Block A Hostile Takeover

By | Monday July 21, 2014 @ 1:50pm PDT

Time Warner Changes By-Laws To Help Block A Hostile TakeoverThis is the first concrete sign that Time Warner is determined to fight Fox CEO Rupert Murdoch if he decides to do an end run around the board in an effort to acquire the company. Directors adopted an amendment to TW’s by-laws, which took effect immediately, that makes it harder for a small group of shareholders to call a Business Leaders Gather For B20 Summit In Sydneyspecial meeting, Time Warner says in an SEC filing. Previously investors holding at least 15% of the total votes could demand a meeting. The change limits that right to “the Chief Executive Officer or a majority of the entire Board.” The fear was that 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.

Related: Bart & Fleming: Fox-TW Mania Means Banker Fees And Layoffs, Not Quality

Time Warner shares are down 1.6% in post-market trading following disclosure of the change. The company says that it intends to restore the 15% threshold at the 2015 annual meeting.

Related: Will Anyone Besides Rupert Murdoch Take A Run At TW?

Comments (0)

Bart & Fleming: Fox-Time Warner Merger Mania Means Banker Fees And Layoffs, Not Quality

By and | Sunday July 20, 2014 @ 9:25am PDT

Bart & Fleming: Fox-Time Warner Merger Mania Means Banker Fees And Layoffs, Not QualityFlemingBartColumn_badge__140510005503Peter Bart and Mike Fleming Jr. worked together for two decades at Daily Variety. In this weekly Sunday column, two old friends get together and grind their axes on the movie business.

Bart: Like  7th grade boys staring in the mirror, corporate CEOs these days keep asking themselves, “Am I big enough?” What scares them is the prospect of becoming a takeover target, and there’s been a rush of takeover talk lately —Rupert Murdoch’s bid for Time Warner being the most dramatic. Size means safety in the corporate universe and Time Warner became vulnerable by ridding itself of Time Inc., AOL and Time Warner Cable — the latter becoming a target for Comcast. With giants like Google, Apple and Amazon looming, CEOs are scared they can’t measure up, but the folks who should really be frightened are the creatives and their audiences. Bigness means giant fees for bankers and profits for shareholders, but the impact of the monoliths is easy to read — a universe of corporate plodding, tentpoles and sequels.

Read More »

Comments (3)

DeadlineNow Morning Report: Weekend Box Office, Rupert Murdoch Tweets, Latest On ‘Midnight Rider’ (Video)

By | Friday July 18, 2014 @ 11:45am PDT
Loading video...

Morning Report, Friday July 18

Will the 'Apes' sequel hang on to the No. 1 spot at the weekend box office in its second week as it faces off against newcomers 'The Purge: Anarchy', 'Sex Tape' and 'Planes: Fire & Rescue'?, Rupert Murdoch is back on Twitter saying he won't bid for Tribune, among other things, two 'Midnight Rider' filmmakers plead not guilty in the death of camera assistant Sarah Jones. Deadline's Dominic Patten reports.

Related:
‘The Purge’ Scares In $2.6M, ‘Sex Tape’ Grosses $1.1M, ‘Planes’ Same As Last Year
‘Midnight Rider’ Exec Producer Jay Sedrish Turns Himself In To Georgia Police, Following Randall Miller & Jody Savin

Comments (0)

Rupert Murdoch Tweets: He Won’t Bid For Tribune

By | Friday July 18, 2014 @ 7:22am PDT

Rupert Murdoch Tweets: He Won’t Bid For TribuneLooks like Rupert Murdoch can’t acquire everything he wants. “Sorry can’t buy Trib group or LA Times — cross-ownership laws from another age still in place,” he tweeted overnight.  He salivated over Tribune‘s papers which include the Chicago Tribune, Baltimore Sun, as well as the Los Angeles Times. The parent company has wanted to sell them, and now plans to spin them off in a separate entity that will be publicly traded beginning August 4.

Murdoch still has plenty to keep him busy: Fox disclosed this week that it made an $80B offer for Time Warner, which the company rejected. And News Corp — Murdoch’s publishing company — is eyeing Time Inc, the publishing company that Time Warner just spun off. Read More »

Comments (2)

Will Anyone Besides Rupert Murdoch Take A Run At Time Warner?

By | Thursday July 17, 2014 @ 3:49pm PDT

Will Anyone Besides Rupert Murdoch Take A Run At Time Warner?It’s a foregone conclusion now that something big will happen with Time Warner. Its stock wouldn’t be up 20% since yesterday morning — when Fox CEO Rupert Murdoch‘s $80B June offer came to light – if investors thought that Time Warner’s rejection of it was the last word on the matter. Indeed, the stock closed today at $86.12, which means a lot of people are betting that Fox or someone else will top the $85 a share stock-and-cash proposal that Time Warner shunned.

But here’s the problem: Some of Wall Street’s top analysts don’t know who has the desire and wherewithal to wage a bidding war with Fox. If Time Warner seriously wants to escape Murdoch’s embrace, it might have to make a deal of its own — perhaps to buy CBS. Even if it did, “Time Warner would still have to make the argument that more value would be created by merging with CBS than by accepting Fox’s tender offer,” Bernstein Research’s Todd Juenger says.

What about other usual suspects who might covet Time Warner? Comcast and AT&T are out of the running as they pursue their acquisition deals with, respectively, Time Warner Cable and DirecTV. Here are others that might conceivably kick the tires:

Disney: Hard to find anyone who thinks the company will jump in. Disney doesn’t need a big deal, especially with a “clear strategy that should play out over the last two years of Bob Iger’s contract,” MoffettNathanson Research’s Michael Nathanson says. The CEO likes properties that appeal to targeted audiences that he can coax to attend Disney … Read More »

Comments (6)

DeadlineNow: Time Warner’s Rejection Of Rupert Murdoch’s $80B Offer — What’s Next? (Video)

By | Wednesday July 16, 2014 @ 2:49pm PDT
Loading video...

Time Warner Rejects Rupert Murdoch's $80B Offer

Deadline's David Lieberman weighs in on Time Warner's rejection of Rupert Murdoch's $80B Offer to buy the media giant and where things go from here.

Related:
Media Merger Mania: Fox’s Bid For Time Warner Is Just The Beginning
Time Warner Shares Soar On Reports Of $80B Offer By Rupert Murdoch

Comments (2)

DeadlineNow Morning Report: Fox-Time Warner Tie-Up Talks, Beatles Documentary Film, LA TV Shoots Soar (Video)

By | Wednesday July 16, 2014 @ 12:20pm PDT
Loading video...

Morning Report, Wednesday July 16

Reports that Rupert Murdoch's 21st Century Fox was kicking the tires on merging with Time Warner merger sends TW stock soaring; Ron Howard to direct a Beatles docu about their 1960s rise; TV production in LA took a massive jump in Q2 2014. Dominic Patten reports.

Related:
Time Warner Shares Soar On Reports Of $80B Offer By Rupert Murdoch
Ron Howard To Helm Authorized Beatles Docu On British Invasion Years
FilmLA: TV Production Soars In Q2 As Features Stay Steady With 2013

Comments (0)

Media Merger Mania: Fox’s Bid For Time Warner Is Just The Beginning (Video)

Media Merger Mania: Fox’s Bid For Time Warner Is Just The Beginning (Video)Rupert Murdoch’s $80B offer for Time Warner makes two things clear: The much anticipated round of content company merger mania is here — and likely will include Time Warner even though it rejected the proposal from Murdoch’s 21st Century Fox. And virtually no deal idea is too big or outlandish. One major question at this point is whether a large digital company such as Google will seize the opportunity to buy a major content company. Giants such as Fox and Time Warner want to defend the pay TV status quo — the lucrative bundle that requires subscribers to buy channels they don’t watch. If they become more powerful, then it could slow efforts by Internet companies to claim a piece of the giant ad pie that goes to TV.

Content company stock prices today reflect their new popularity. In addition to Time Warner (+15.6% at mid-day) we see Discovery +6.6%, Viacom +4.3%, Lionsgate +3.7%, AMC Networks +3.4%, and Scripps Networks +3.4%. “The urgency to find a ‘dance partner” will increase across the sector,” Bernstein Research’s Todd Juenger says. “Nobody wants to be the company that gets left out of the consolidation wave, and companies would rather control their own destinies.” What’s more, every investment banker in the world now smells opportunities to collect millions in fees if they can propose and facilitate deals.

Time Warner has two things that make it especially attractive. Read More »

Comments (10)

UPDATE: Time Warner Shares Soar On Reports Of $80B Offer By Rupert Murdoch

By | Wednesday July 16, 2014 @ 6:46am PDT

UPDATE: Time Warner Shares Soar On Reports Of $80B Offer By Rupert MurdochUPDATE. 6:46 AM: Time Warner confirms that it rejected 21st Century Fox‘s acquisition offer saying its board concluded that remaining independent “will create significantly more value for the Company and its stockholders and is superior to any proposal that Twenty-First Century Fox is in a position to offer.” Fox said it would pay $32.42 in cash plus 1.531 of its own non-voting shares for each Time Warner share. Directors don’t like the plan, in part because it involves “significant risk and uncertainty as to the valuation of Twenty-First Century Fox’s non-voting stock and Twenty-First Century Fox’s ability to govern and manage a combination of the size and scale of Twenty-First Century Fox and Time Warner.” The board also notes that there would be “considerable strategic, operational, and regulatory risks” to a deal.

21stcenturyfox1__131014203730-275x122PREVIOUS, 4:39 AM: Time Warner’s up nearly 20% in pre-market trading after The New York Times and CNBC reported that the media giant recently rejected an $80B takeover proposal by Rupert Murdoch‘s 21st Century Fox. The bid could “put Time Warner in play and might again ignite a reshaping of the media industry,” the Times says. Fox COO Chase Carey met with Time Warner chief Jeff Bewkes in early June offering $85 a share — 40% of it in cash — a 25% premium at the time. The proposal said that the combined companies could save at least $1B by TimeWarnerlogoblueeliminating duplication. Fox, which owns Fox News, offered to sell CNN to avoid antitrust problems, and indicated that it would maintain Time Warner’s studio and cable network operations, as well as most of its best execs, according to the reports. The Time Warner board seriously considered the proposal but rejected it, in part because the offer included nonvoting shares. Nonetheless, “Rupert Murdoch is ‘determined’ to buy Time Warner,” CNBC reports, citing unnamed sources. Murdoch is said to have enlisted Goldman Sachs and Centerview Partners to advise him while Time Warner has Citigroup.

Fox says that it “can confirm that we made a formal proposal to Time Warner last month to combine the two companies. The Time Warner Board of Directors declined to pursue our proposal. We are not currently in any discussions with Time Warner.” Read More »

Comments (8)

UPDATE: Herb Allen’s Sun Valley Retreat – Recap

UPDATE: Herb Allen’s Sun Valley Retreat – RecapUPDATED, Monday, 4:56 PM: Saturday’s panel with Secretary of State John Kerry and interviewer Charlie Rose went off without a hitch after some technical problems the previous day, but listening about the conflicts in the Middle East was not as interesting to moguls (‘what else is new, it’s a mess over there’) as the panel that featured billionaire investor Warren Buffet and Amazon CEO Jeff Bezos, according to some in attendance. Bezos, whose company Amazon has become a powerhouse in publishing and is creating its own content now, told the group gathered that the Amazon business model in publishing and creating content is here to stay. While the panels are always greatly attended, some of those who sat through the first few said they were a bit dry and boring, but “Buffet is always interesting to listen to,” said one attendee. Jeffrey_Katzenberg_118299588Said another, “All the networking is really done in the first day … unless you’re Jeffrey Katzenberg lining up meetings every hour.” Added another, “He sits there and does one meeting after another … he must have had like 20 meetings.” Yes, DreamWorks Animation’s Katzenberg was doing his ‘speed-dating’ meetings near the duck pond as usual which had some entertainment moguls laughing and others rolling their eyes (‘He has like what? One movie in the marketplace?’ Does he know how silly it looks?).

On Saturday, too, were presentations from the younger entreprenuers of Lookout, Xapo and Lending Club, which another attendee said he thought was fantastic (‘The guy from Lookout looked like he was 16 years old’). Also interesting to one attendee was the education panel with Eva Sarah Moskowitz, CEO of Success Academy Charter Schools and Kaya Henderson who is the D.C. school superintendent. “They were really good together and kept everyone’s interest.” That panel took place last Thursday.

The five-day Sun Valley retreat wrapped up last night with the annual dinner hosted by Herb Allen, whose aserbic wit and self-deprecating humor was enjoy by all. In reference to the panel earlier in the week that featured producer Brian Grazer and TWC’s Harvey Weinstein talking about the creative process, one attendee noted that “Brian really hit the mark on it. He was pitch perfect. If he did that same speech in showbiz circles it might not resonate but it did with most of people who were not in the business.’” One of the things that they both suggested was to listen to the voices in your head and get in touch with your instinct, which Allen use as a set up for a joke at the Sunday night dinner: “I have the voices in my head. I just don’t know what to do with them yet.” Until next year …

3RD UPDATE, FRIDAY, 2:50 PM: People actually enjoyed the Michael Bloomberg panel today at the H2013-07-11t154703z_2111664344_gm1e97b1tzw01_rtrmadp_3_sunvalley-conference_Fotorerb Allen Sun Valley conference as the 72-year-old answered questions from journalist Willow Bay, wife of Disney’s Robert Iger. The former mayor of New York whose fight for reasonable gun laws is well-documented, spoke about his philanthropy efforts and giving back to society. Through Bloomberg Philanthropies, the billionaire does just that in the areas of education, the arts, gun issues, governance and public health. He spoke about how dysfunctional the current U.S. system is politically and otherwise to get things done — no doubt as he personally saw what happened behind the scenes in Washington D.C. as politicians in the pocket of the NRA stymied efforts to get background checks on gun sales passed. Leave it to a politician — an orator and a former Eagle scout (hey, it’s no small task) — to wake up the moguls.

The second panel, which was supposed to feature Charlie Rose interviewing Secretary of State John Kerry piped in live from Afghanistan, went awry as the video feed didn’t work (they tried for about 15 minutes to get it up and running to no avail). That conversation, which was expected to be about how heavily the U.S. should be involved in the current explosive situation in the Middle East, will now take place tomorrow after journalist Becky Quick interviews Warren Buffet and Jeff Bezos.

So they are attempting to fix the video feed for tomorrow, but let’s face it, if it doesn’t work, we doubt anyone will be upset as Kerry drones … on and on. Speaking of drones, there has been some attempt to make sure that drones don’t fly over the conference taking pictures, according to Bloomberg News. Ahhh, technology … the age of the paparazzi drone? If people are still awake after Kerry and Rose, a number of younger entrepreneurs will have their turn at bat.

Most all we spoke with don’t expect any major deals to go down at this conference. That Read More »

Comments 20
More Deadline | Hollywood »