Listen to (and share) Episode 59 of our audio podcast Deadline Big Media With David Lieberman. Deadline’s financial editor joins host David Bloom and Jonathan Geller of Deadline’s sibling site BGR.com in talking about the mobile business, starting with the fundamental face-off between Apple and Google over mobile business models. They also talk about the prospects for Samsung, Microsoft and BlackBerry; T-Mobile’s radical new approach to the mobile phone business; a new study suggesting more than half of Internet bandwidth is consumed by just two sites, YouTube and Netflix; and the dubious future of next-generation video game consoles as Sony launches the PS4 today and Microsoft debuts the Xbox One in a week.
Separately, the two Davids pick through the most notable news from this week’s media earnings reports, including MGM’s 2012 gifts that keep giving, CBS and Dish Network doing a dance around the Hopper and Viacom’s debt to Miley Cyrus and some zombies.
Deadline Big Media Episode 59 (MP3 version)
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The share price touched $6.40 — the lowest it’s been in about a decade — before recovering slightly to -12% following this morning announcement. A group of institutional investors led by Fairfax Financial Holdings, which owns about 10% of the … Read More »
That’s the thrust of the mobile phone company’s new message to customers who have “seen the headlines about BlackBerry” and may be “wondering what they mean for you.” And the bottom line, it says, is: “You can continue … Read More »
Listen to (and share) episode 52 of our audio podcast Deadline Big Media With David Lieberman. Deadline’s executive business editor talks with host David Bloom about a proposed FCC rule that may derail the recent TV station gold rush; the very different rush for Apple’s new gold iPhones and all those other colors; themes and memes out of the big Goldman-Sachs investor conference and Blackberry’s really bad quarter and plans to go private with a buyout from minority shareholder Fairfax Holdings.
Deadline Big Media, Episode 52 (MP3 format)
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Investors would receive $9 a share — less than BlackBerry sold for last week before it announced on Friday that it plans to slash 4,500 jobs, about 40% of its total work force. In an unexpected early release of earnings results the company also reported a nearly $1B loss for its fiscal Q2. The disclosures sent BlackBerry shares down 17.1% on Friday. They fell another 5.6% today to $8.23 before trading was halted ahead of the news about the deal. Fairfax Financial already owns 10% of BlackBerry, making it the largest shareholder. BlackBerry has until November 4 to find another buyer, although investors appear skeptical that a rival offer will top Fairfax’s: After trading reopened today, BlackBerry’s stock price settled at about $8.82. The phone company indicated in August that it might seek a buyer after investors lost faith in its effort with BlackBerry 10 — the platform it introduced with great fanfare in January — to regain the market share that the company has lost to Apple and phones that run Google’s Android operating system. BlackBerry had 4.3% of the U.S. market in the three months ending in July, down from 9.5% in the same period last year, according to comScore MobiLens data.
Here’s today’s release about the deal: Read More »
UPDATED: The 4,500 employees represent 40 percent of BlackBerry‘s total work force. The news today came as the company reported a nearly $1 billion second-quarter loss in an unexpected early release of earnings results. The stock … Read More »
Listen to (and share) episode 48 of our audio podcast Deadline Big Media With David Lieberman. David talks with host David Bloom about Fox’s big bet on the pay-TV status quo with its heavily promoted Fox Sports 1 channel launch; a possibly game-changing deal in the making between Viacom and Sony Electronics; and that big “for sale” sign hanging around the metaphorical neck of troubled phone maker Blackberry.
Deadline Big Media, Episode 48 (MP3 format)
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Big questions this morning about what will happen with the phone and platform that media execs once couldn’t live without. BlackBerry shares are up 4.8% after the board said it has formed a Special Committee to look at “strategic … Read More »
The stock is down 27% in early trading following the earnings release for the three months ending June 1 that had something to disappoint everybody. Despite the splashy and long-awaited rollout of the BlackBerry 10 platform, Research In Motion (still the formal name, although it’s doing business as BlackBerry) sold fewer phones than it did in the period last year — and pulled the plug on its PlayBook tablet. Earnings fell short of analyst forecasts. And the company warned that its losses will continue into the current quarter, frustrating analysts who had predicted a profit. In fiscal Q1 Blackberry had a net loss of $84M, an improvement from the $518M loss in the period last year, on revenues of $3.1B, +9.4%. Analysts expected the top line to hit $3.4B. The adjusted loss at 13 cents a share contrast with forecasts for a 5 cent profit. The company reports that it sold 6.8M smartphones in the quarter, down from 7.8M last year, and just 100,000 PlayBooks. Read More »
Shares in BlackBerry, the company formerly known as Research in Motion, bounced around this morning, opening up at $15.55 before dropping back down to $14.76 and, as of about 11 AM Eastern time, were back on the climb. The bobbing came after the phone-maker reported a surprise Q4 profit. For the three months ended March 2, the company logged a net income of $98M while analysts had been expecting a loss. Revenue, however, was down to $2.678B, about 2% off the last quarter and 36% off the comparable quarter in 2012. The company also shed about 3M subscribers and now has a base of approximately 76M. Blackberry said it shipped 1M of its new BlackBerry 10 units — the 10 operating system was introduced in January on two devices, the Z10 and Q10 – and moved 6M smartphones overall. Analyst Brian Colello told Reuters “The 1 million units is a nice start… I think the encouraging thing is that BlackBerry was still able to sell a good portion of older models and generate solid service revenue during the transition. I think that will be important in terms of cash balance and profitability.” Read More »
Listen to episode 21 of our audio podcast Deadline Big Media With David Lieberman. This week Deadline Executive Editor Lieberman and host David Bloom discuss the red hot News Corp. stock, Moody’s moody take on the theatrical exhibition business, Mark Cuban‘s on the future of TV, and Blackberry‘s effort to ensure it has a future.
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The company formerly known as Research In Motion says its product line is “re-designed, re-engineered, and re-invented” with the introduction today of the BlackBerry 10 operating system and two devices: the BlackBerry Z10 and Q10. The goal is to make it easy for users to switch between work and personal applications with separate home screens. The Z10 has a 4.2-inch, high-definition touchscreen, while the Q10 has a smaller screen and a physical keyboard. They’ll come with 16 GB of memory, and a slot for a memory card. The back opens, so users can replace the battery. The company says they offer simple ways to launch video chats with multiple applications open. A Screen Share application makes it possible for another user to take charge of the screen. Users can focus the camera via touch screen commands, and manipulate images with a built-in picture editor. The Story Maker application can create videos with music and images edited in. The company says it has more than 1,000 BlackBerry 10 apps including Skype, Amazon Kindle, SAP, Angry Birds, Facebook, Twitter, New York Times, Wall Street Journal, Reuters, and TuneIn. All of the major studios and music companies will offer content on BlackBerry World. The phones are expected to be available in the U.S. by March, and while carriers will determine pricing CEO Thorsten Heins said it likely will be $150 with a three-year contract. He says that musician Alicia Keys will serve as BlackBerry’s creative director. “I broke with you for something with a little more bling,” she said at the rollout event. “Now we’re exclusively dating again.” She says she’ll work with app designers and retailers, and people in entertainment and music, to help bridge the gap between a work phone and a play phone.
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UPDATE, Friday, 6:45 AM: Looks like Research In Motion execs’ vague comments last night about their plans for the new Blackberry 10 system quashed investors’ initially warm feelings about the better-than-expected Q3 results. RIM’s stock price dropped nearly 17% shortly after the market opened on Friday. The company warned that it will increase its spending to promote the long-awaited update to the Blackberry platform in late January. CEO Thorsten Heins also said in a conference call that there’ll be new tiered service offerings, but offered no details. He told CNBC this morning that the transition to BlackBerry 10 “is going to be probably one-and-a-half to two years.” Read More »
Talk about lousy timing. Shares in Research In Motion are down 6.5% this afternoon after it reported that BlackBerry users in much of Europe and Africa lost their Internet and email services for as long as three hours. The problem … Read More »
BlackBerry maker Research In Motion (RIM) can use some encouraging news as it loses market share to Apple, Android, and Windows-powered smartphones, and today’s patent licensing deal with Microsoft seems to provide some. The software giant gave RIM the right to use its Extended File Allocation Table that the companies say will make it easier for some BlackBerry devices to transfer “large files for audiovisual media” and facilitate data exchanges between PCs and other devices. The system, called “exFAT,” enables flash memory devices to handle five times more data than they could under Microsoft’s previous “FAT” protocol. “Today’s smartphones and tablets require the capacity to display richer images and data than traditional cellular phones,” Microsoft’s GM of Intellectual Property Licensing David Kaefer says. “This agreement with RIM highlights how a modern file system, such as exFAT can help directly address the specific needs of customers in the mobile industry.” RIM shares popped more than 3% after the mid-day announcement, but retreated shortly afterward to about +2%. Read More »
I can just imagine the PR people at Research in Motion wincing today when CEO Thorsten Heins made this comment in an interview in Canada on CBC News’ Metro Morning. “There’s nothing wrong with the company as it exists … Read More »
UPDATED: Bad news for Blackberry owners. The company behind the popular smartphone just reported disastrous earnings for the quarter that ended June 2 — sending shares plummeting about 16% in after-hours trading. RIM had a net … Read More »
You can see this from the 6.6% drop in Research in Motion’s stock price today — and the mostly hostile comments over at our sister site, BGR.com. Instead of giving a rebate to millions of people affected by last week’s switching problems, RIM said today that it will let them download a dozen premium games and apps that it values at more than $100, and have a month of free Technical Support. “We are grateful to our loyal BlackBerry customers for their patience,” co-CEO Mike Lazaridis said. “We have apologized to our customers and we will work tirelessly to restore their confidence. We are taking immediate and aggressive steps to help prevent something like this from happening again.” Read More »
Well, this is going to make getting a hold of an agent this much tougher around Hollywood: BlackBerry maker Research In Motion has been posting updates on its U.S. site since Monday, when service outages were reported in Europe, … Read More »