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Media moguls say they’re starting to see signs of a bottom to the recession and the beginnings of an upturn in the advertising market—just in time for the upfront advertising sales season. Last week, several major media companies reported they took their lumps in the first quarter, but their top executives...
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Sun, May 10 2009
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Filed under: Broadcast, Cable, Print Edition, Earnings, Leslie Moonves, CBS Corp., Scripps Networks, Rupert Murdoch, Economy, Walt Disney Co., John Lansing, Bob Iger, New Corp.
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Strong affiliate-fee growth from cable operators in the first quarter partly offset a drop in advertising sales at Scripps Networks Interactive, home of channels including HGTV and Food Network. The company’s net income fell to $60.1 million, or 37 cents per share, from $66.5 million, or 41 cents, in...
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CBS CEO Les Moonves said that NBC’s decision to put Jay Leno on in prime time will help his company’s bottom line. “We were the No. 1 network at 10 o’clock last year,” Mr. Moonves told analysts and investors during CBS’ quarterly earnings conference call Thursday. He estimated that CBS took in 38% of...
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Thu, May 7 2009
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Filed under: Broadcast, Cable, Digital, Advertising, CBS, NBC, Syndication, Jay Leno, Earnings, Les Moonves
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CBS lost $55.3 million in the first quarter as the weak economy and the advertising market slump took a toll on the broadcaster. The loss of 8 cents a share compares to earnings of $244.3 million, or 36 cents a share, a year ago when programming costs were lower because of the Writers Guild of America...
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Crown Media Holdings, owner of Hallmark Channel, narrowed its first-quarter loss despite the effects of the economy. “The first quarter of 2009 reflected our successful efforts of operating our business in an unprecedented economic environment,” said CEO Bill Abbott, who succeeded Henry Schleiff on Wednesday...
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Rupert Murdoch says, "The worst is over." The News Corp. CEO, noting he has been uncharacteristically pessimistic on recent earnings calls, now says "the days of precipitous declines are over" and that "we are beginning to see a number of bright spots." For TVWeek's...
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Walt Disney’s fiscal second-quarter profit fell 46%, with a slight drop in earnings from its media networks unit overshadowed by plunging profit from its studio entertainment and parks and resorts operations. Disney’s operating profit from media networks for the quarter ended March 28 fell 4% to $1.31...
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Time Warner reported lower first-quarter earnings because of big losses at AOL, but said profits were up at what it called its “Content Group.” Net income was $661 million or 55 cents a share, down from $771 million or 64 cents a share a year ago. Revenues fell to $6.9 billion from $7.5 billion. Time...
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Wed, Apr 29 2009
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Filed under: Broadcast, Cable, Digital, HBO, Syndication, Earnings, Time Warner, Jeff Bewkes, Turner Broadcasting, AOL, Warner Bros., first quarter
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First-quarter earnings fell 45% at NBC Universal, parent company General Electric announced Friday morning. While its cable networks continued to deliver double-digit growth, GE CEO Jeff Immelt said in a statement, “NBC Universal has a tougher performance overall due to a soft advertising market and...
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Fri, Apr 17 2009
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Filed under: Broadcast, Cable, Digital, Syndication, NBC Universal, Earnings, General Electric, Jeff Immelt, Keith Sherin, first quarter
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Investment firm Sanford C. Bernstein on Wednesday released a new pessimistic report on media company earnings. “The recent run-up in media stocks suggests investors are looking past the horrid near-term trends to a happier place off in the horizon,” said analyst Michael Nathanson in a report. “However...
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Wed, Apr 8 2009
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Filed under: Broadcast, Cable, Digital, Advertising, CBS, Viacom, Syndication, Research, Earnings, Time Warner, News Corp., Economy, Walt Disney Co.
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Crown Media Holdings announced its fourth-quarter earnings results Wednesday after an e-mail accidentally went out that released the figures prematurely. Crown, which owns the Hallmark Channel, had been scheduled to release its earnings Thursday. For TVWeek's comprehensive coverage of how the recession...
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Discovery Communications reported a profit in the fourth quarter after recording a loss in the year-ago quarter. The company expects revenues and earnings to be flat next year. “This past year was one of significant accomplishment for Discovery, as we delivered strong operating performances across our...
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Despite the tough economy and a deep advertising market slump that cut CBS’ fourth-quarter earnings in half and forced the company to slash its dividend, CEO Leslie Moonves said he’s looking forward to the upfront. Citing ratings growth at the company’s broadcast network during Wednesday’s earnings call...
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CBS Corp.’s profit fell 52 percent in the fourth quarter as business deteriorated at its television operations. The company cut its quarterly dividend to 5 cents a share, down from 27 cents in an effort to maintain financial flexibility in the recession. Fourth quarter net earnings declined to $136.1...
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Viacom said weakness in the ad market and a charge to cover layoffs in December contributed to a 69% plunge in fourth-quarter earnings. “Our fourth quarter results reflect the realities of a challenging economy, CEO Philippe Dauman said in a statement. “The broad marketplace conditions weighed on our...