Hands obliged to extract foot from mouth – again 10 Dec 2007 The private equity boss has issued a grovelling apology to EMI s music stars just two weeks after having to say sorry to its bankers. Shooting your mouth off is all very rock and roll, but it s not so cool when your struggling business needs all the help it can get.
GE could learn something from Vivendi 7 Dec 2007 CEO Jeff Immelt will unveil his outlook for the conglomerate next week. Investors will listen acutely for indications he ll reduce GE s sprawl to get the stock moving. GE s partner in NBC, Vivendi, may have created a useful blueprint with its Activision deal.
James Murdoch earns his News Corp promotions 7 Dec 2007 The BSkyB CEO isn t just stepping up to replace his father, Rupert, as the group s nonexecutive chairman. He will also run News Corp s international ops, making him heir apparent to the global media empire. After a rocky start at Sky, the younger Murdoch has proved his worth.
Emap bosses take punt on B2B 7 Dec 2007 Emap is selling its consumer and radio businesses but keeping its crown jewel trade magazines and events. The bids were too low for management s taste. So they are betting that the business will be worth a good bit more later. Some shareholders don t want to wait.
Bertelsmann’s mooted RTL offer looks fair 4 Dec 2007 It has taken years for the German media giant to pick off minorities in the European broadcaster. Its latest approach should finally do the trick. Bertelsmann thinks it shouldn t have to pay more than E1.3bn, equivalent to a 19% premium to yesterday s close. It s probably right.
Satellite radio merger PR fight turns ridiculous 26 Nov 2007 It s bad enough when Sirius and XM Satellite trumpet that groups such as Women in Farm Economics support a merger. But broadcasting opponents have scored an own goal by sending thousands of dubious emails to regulators.
Hollywood writers unlikely to get a happy ending 5 Nov 2007 The brains behind Hollywood s hits want more money. But they don t have much leverage. Stoppages are influential if the disruption cuts deep into an employer's business. But even a monthslong strike would take less than 1% off the industry's annual revenue.
A-Rod should take a stake in the Cubs 29 Oct 2007 The highest paid player in major league baseball is walking away from his contract with the New York Yankees. It s going to be difficult for him to boost his salary much beyond his last $252m deal. He could, though, if he takes an equity stake in a team like the Chicago Cubs, which Sam Zell is trying to sell.
Cablevision no vote sets a good precedent 24 Oct 2007 The Dolan family s cheapo $22bn offer put investors in a pickle. They could reject the deal and see the value of their investment fall or accept it and set a precedent for future trammelling of minority shareholders rights. Investors should appreciate their accepting the latter form of selfflagellation.
Do investors think the New York Times is worth a pittance? 19 Oct 2007 A breakup analysis of the US media group suggests they do. Strip out the value of other assets, and the core brand is worth a mere $700m or so just over three times operating profit. This would be insane if it weren t for management s clear lack of concern for shareholders.
Critic’s retreat a Pyrrhic victory for Sulzbergers 17 Oct 2007 Morgan Stanley, the most vocal shareholder critic of their stewardship of the New York Times, just threw in the towel. But that doesn t solve their problems. The family is still stuck with a declining asset. And if other investors follow suit, the stock could suffer more.
Don’t count out Fox Business Channel despite mediocre launch 15 Oct 2007 The debut of Rupert Murdoch s business channel wasn t stellar. Its lacklustre format caters to an audience that may scarcely exist. But Fox News persevered for six years before taking the news broadcasting lead. For rivals like CNBC, it s much too soon to be complacent.
Ray of light for record labels is new talent, not megastars 12 Oct 2007 The music business buzz is that record labels are irrelevant. Several stars have outgrown them. But the labels can still help smaller and emerging bands. So instead of wasting energy on top artists, who don't always pay, companies should focus on recruiting and developing talent.
Kirch not such a bogeyman for Premiere 11 Oct 2007 The German payTV operator's shares tanked 20% after the ancient mogul won the marketing rights for Bundesliga football for six years. Premiere is hugely dependent on football and Kirch will probably squeeze it but not enough to justify such a sharp fall in its stock.
Cablevision: Guest View 5 Oct 2007 The coming vote on Cablevision's takeover by the Dolan family highlights poor US governance, Marathon Asset Management's Jeremy Hosking argues in this guest view.
How much should fans pay for Radiohead’s new album? 2 Oct 2007 The British rockers are letting customers pay whatever they want for a copy of their latest album. Early indications are that groupies will pay around $10. But work through the weird economics of the recording industry and Radiohead might be gouging fans who pay that much.
Murdoch price war would put FT.com in bind 2 Oct 2007 The mogul's hints that he's going to turn wsj.com into a free site leave FT.com with an unappealing choice. The bold option would be to follow suit but risk losing $20m of revenue immediately. The alternative, which FT.com is adopting, is to tweak its subscription model. That risks losing market share.
Facebook misses out on valuable opportunity 18 Sep 2007 The company just announced its new project a $10m venture fund aimed at fostering the growth of premium applications for the site. But its backers appear to be making off with most of the upside. Facebook shouldn t give up the chance to profit from its precious assets.
Grade fails to impress at ITV 12 Sep 2007 The chairman of the UK broadcaster has promised to improve growth and double its content revenues by 2012. But that s no real change. Grade has made progress, but investors are waiting for the regulators' advertising review and some real numbers before deciding.
Sunday shouldn’t be so special at UK newspapers 5 Sep 2007 The Barclay Brothers seem to agree. Their Sunday Telegraph has lost its editor, reportedly because she didn t want to merge with the daily. In an age of declining profitability, it doesn t make sense for newspapers to duplicate staff. If the Telegraph acts, others will follow.