In this week’s podcast, Deadline’s Executive Editor David Lieberman and host David Bloom examine whether Facebook paid too much with its $19 billion purchase of messaging service WhatsApp, ponder whether anyone should pay for the maker of blockbuster mobile game Candy Crush Saga now that it’s filed for an IPO, consider the impact of the FCC’s replacement net-neutrality rules and look at the real motivations behind the clamor for Google Fiber.
The Davids also look at the possible futures of both John Malone and Time Inc. after some very interesting news this week from both.
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Will this provide another incentive to cut the pay TV cord? The new venture, called 120 Sports, vows to offer Internet users a lineup of two-minute segments with “timely, interactive narratives of the stories around sports, including game footage, analysis, conversation and social commentary.” The goal it to make it relevant for live sports, not just to serve as a collection of highlights. It’ll be free, but a premium product will be offered next year. MLB Advanced Media will provide the technology muscle and is a partner in the venture along with Time Inc — the publisher of Sports Illustrated — and the NHL, NBA, NASCAR and leading collegiate conferences. Another partner, Chicago-based digital media company Silver Chalice, will handle business operations with help from Sports Illustrated, and produce the programming from a production facility on the Harpo Studios campus. Other partners will be named later. Time Inc points to 120 Sports as the kind of forward-looking initiative it can build as the magazine company prepares to stand on its own following the spinoff from Time Warner to take place by mid-year. Read More »
CEO Joe Ripp doesn’t say in his memo to staffers today how many people will be affected by his effort to, as he put it, “right-size the organization” — although the total is expected to be in the hundreds. The job cuts are at least partly designed to make the company more attractive to Wall Street when Time Warner spins off its publishing arm, expected by mid-year. Its success “will depend on how investors view the momentum we are generating at the new Time Inc,” he says. That requires “some substantive and sometimes painful changes to the way we operate and approach our business.” Employees will learn “as early as today” who’s getting the ax. He unveiled plans to restructure the organization, ditching its three brand operating clusters. EVP and longtime Time Inc vet David Geithner – who’s former Treasury Secretary Tim Geithner’s brother, and runs the Style & Entertainment Group — will be out. Former Dow Jones exec Todd Larsen will take charge of the company’s most famous titles including People, Entertainment Weekly, Time, Sports Illustrated and Fortune. Evelyn Webster, currently president of the Lifestyle group, will continue to manage publications including Cooking Light, InStyle, and Real Simple. Ed Kelley, who ran American Express Publishing before Time Inc bought it last year, also is leaving. Read More »
Be sure you read Time Inc‘s financial documents if you’re tempted to buy the company’s stock next year when Time Warner spins it off. The initial SEC filing today shows that it’s a fixer-upper. The No. 1 magazine company– … Read More »
No financial terms on the deal, but it should help Time Inc appeal to luxury advertisers early next year after Time Warner spins off its magazine unit. American Express Publishing reaches 36M consumers with titles including Travel + … Read More »
CEO Jeff Bewkes says that Joseph Ripp, who’ll become Time Inc’s CEO next month, needs some time to establish himself at the publishing company. “Having someone of Joe’s caliber in place is a key element” in the spin off, Bewkes … Read More »
Daily Beast co-founder Edward Felsenthal is becoming managing editor of the Time website despite lots of uncertainty as Time Inc spins off from Time Warner. The news was first released via Twitter. Felsenthal replaces Time.com managing editor Cathy Sharick who took a buyout as part of a recent 6% company-wide layoff.
Time Warner’s talks with Meredith Corp about combining their magazines in a separate company collapsed today. But here’s Plan B for the media giant: It will spin off its publishing arm into an independent, publicly traded entity, likely by year end. Until recently, Time Warner execs scoffed when asked whether they’d consider mimicking News Corp, which is spinning off its newspaper assets. Now, though, Time Warner CEO Jeff Bewkes says the idea provides “strategic clarity” that will enable his company to “focus entirely on our television networks and film and TV production businesses.” Read More »
Will the company once known as AOL Time Warner soon become known just as Warner Communications? Probably not. But that’s one of the questions some people are playfully asking following Fortune’s disclosure that its parent company is talking … Read More »
UPDATE, 1:41 PM: Meredith, the publisher of Family Circle and the Ladies’ Home Journal, is the company that’s negotiating to buy Time Inc magazines, Fortune now says citing “two people familiar with the matter.” Meredith shares, which had been down about … Read More »
The layoffs in the 8,000-person workforce will “come from all areas of Time Inc. across our locations – both domestic and international,” the magazine publishing unit’s CEO Laura Lang told staffers in a memo. No word yet on which … Read More »
The company that publishes Entertainment Weekly and People magazine — as well as Time, Fortune, and Sports Illustrated — is said to be preparing to lay off as many as 700 people as it grapples with declining ad … Read More »
That didn’t take long. Teri Everett left News Corp at the end of last month as Rupert Murdoch’s chief communications officer, and now she has landed at Time Inc as EVP Corporate Communications. Her duties at the Time Warner … Read More »