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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 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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Cablevision Systems said it exploring a spinoff of its Madison Square Garden business, a move that was praised by securities analysts. “Even taken at face value, a spin off could release huge value,” said Craig Moffett, senior analyst at Sanford J. Bernstein, who notes MSG includes the New York Knicks...
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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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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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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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Executives at the National Cable & Telecommunications Association’s Cable Show ’09 last week were relatively upbeat about their prospects. “We’re an industry that is still growing customers,” said Pat Esser, CEO of Cox Communications. Consumers see their broadband connection and their cable TV connection...
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Sun, Apr 5 2009
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Filed under: Cable, David Levy, Print Edition, David Zaslav, Discovery Communications, Comcast, Cox Communications, Turner Broadcasting, NCTA, Brian Roberts, Rupert Murdoch, Economy, Cable Show, Pat Esser
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News Corp. Chairman and CEO Rupert Murdoch doesn’t think the economy will bounce back anytime soon. “I think the long-term situation is still very dangerous,” Mr. Murdoch said, responding to questions at the National Cable & Telecommunications Association’s Cable Show '09. “I don’t think anyone...
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GroupM, the world’s biggest media buyer, sees a deepening plunge for the U.S. advertising industry with a new, lower, forecast calling for a 4.3% drop in spending in 2009 and another 6.8% in 2010. “Our figures are based on our own proprietary revenue data base across media,” said GroupM chief investment...
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TV revenues will continue to decline at least 15.7% in 2009, according to SNL Kagan’s “Radio/TV Station Annual Outlook.” Michigan is the market with the slowest growth as layoffs put automakers in jeopardy. The Detroit market is expected to see a 17.7% decline in TV revenues. For TVWeek's comprehensive...
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Will the kids advertising market be affected by the recession, which has rocked ad sales on most other broadcast and cable networks? It depends who you ask. Kids Programming Recession Woes Not Kid Stuff . . . More » Disney Finds Its Movers . . . More » The kids networks say the key categories that drive...
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The year 2009 has brought out the bear in all of us, even the normally bullish and upbeat crowd at the annual South by Southwest Interactive Festival in Austin, Texas. The once playful and partying attendees were mostly business at this year’s event, which expected to see about a 20% bump in attendance...
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Sun, Mar 22 2009
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Filed under: Digital, Print Edition, The Guild, Felicia Day, Diggnation, Economy, DadLabs, SXSW, Alex Albrecht, French Maid TV, Totally Rad Show
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Consumers could cut back their spending on subscription television, broadband and mobile services by $5 billion in the next 12 months in response to the economic downturn, research company In-Stat reports. For TVWeek's comprehensive coverage of how the recession is affecting the TV industry, visit...
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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...