Group items tagged

News Corp. the media conglomerate run by the billionaire, said second-quarter earnings got a boost from Avatar ticket sales and its broadcast TV division. The New York-based company reported net income of $254 million, or 10 cents per share, up from a net loss of $6.4 billion, or $2.45 cents per share in the same period a year prior, when the company was forced to write down the value of its assets.

"News Corp. agreed to pay $70 million for a stake in the media company owned by Saudi billionaire Prince Alwaleed Bin Talal, one of its largest shareholders. The New York media conglomerate will take a 9.1% stake in Rotana Group, with an option to double its holdings in 18 months. Corp. will have two seats on Rotana's six-person board. The investment gives News Corp its first significant foothold in the Middle East, where it expects economies to grow quickly."

""Over the past several decades, our industry has consolidated from literally dozens of independent entrepreneurs and suppliers, including many writer-owners making innovative and groundbreaking programming to a handful of large media conglomerates most often controlling content from start to finish," Wells said. The result, he said, is that decisions on which shows go on television are based more often on money than quality. "

The Comcast Corporation reported sharply higher fourth-quarter earnings on Wednesday, propelled by gains in Internet and phone revenue, and also announced a new brand for its core cable operations as it transforms into a media conglomerate

Consumer watchdog groups complained to the FCC about cable conglomerates using "hostage taking" as a negotiating tactic. The groups referenced the subscription rate battles that threatened to keep consumers from watching the Super Bowl and the Oscars in a recent letter to the FCC.

"Edward Adler, head of corporate communications at Time Warner, and one of the most powerful gatekeepers in US media, is leaving the one-time world's largest media company." Adler is leaving because the company is on "such firm financial footing."

Discusses how major media companies are proposing a 28-day retail window before new releases can be rented from Redbox kiosks. Companies argue that the availability of new releases for $1 at Redbox kiosks hurts DVD sales.

"Shaw Communications Inc. said it will take control of the broadcasting business of debt-laden Canwest Global Communications Corp, helping rescue Canada's second-biggest private television network."