Facebook blunder may stem online TV tide 23 Sep 2016 The $370 bln social network for two years erroneously inflated how long users were watching videos. It's an embarrassing mistake that should give advertisers a stronger negotiating position with Facebook. It also could prompt a recalibration of media strategies and budgets.
Review: The bad and good of a world without work 23 Sep 2016 Will robots liberate everyone from boring labour, or will they make many workers redundant? Ryan Avent's "The Wealth of Humans" suggests they could do both. So it's up to governments to find new ways to share out the benefits. Past experience suggests this will not be easy.
Yahoo hack could test sale to Verizon 22 Sep 2016 The internet firm disclosed the theft of data from 500 mln user accounts in 2014. The breach, apparently by a state-sponsored actor, is an embarrassing coda to Yahoo's independent existence. If it has a big enough impact, it could even give Verizon a way out of its $4.8 bln deal.
Music industry jams to a new scapegoat groove 21 Sep 2016 Subscription services like those from Apple and Spotify helped lift U.S. spending on tunes by 8.1 pct to $3.4 bln in the first half. It's the best news in years for music makers. They always seem to find a villain, though, and this time they're beating up on Google's YouTube.
Viacom’s next boss may be Leslie Moonves 21 Sep 2016 The exit of interim CEO Tom Dooley leaves Sumner Redstone's ailing media group rudderless. He split Viacom and CBS in part because he couldn't decide on who should run the whole empire. This latest turn of events could accelerate merging it again under the CBS chief's oversight.
SeaWorld is what can occur by swimming with sharks 20 Sep 2016 The embattled theme-park operator finally got around to suspending its dividend. Instead of preserving capital to tackle its whale-size problems, SeaWorld plans to buy back stock this year. Having Blackstone as its biggest owner may help explain the killer financial instincts.
Eldorado goes on risky search for gambling gold 19 Sep 2016 The Nevada-based hotelier is buying larger Isle of Capri Casinos for $1.7 bln. It's an aggressive step in what had been a steady strategic shift. The cost savings won't cover the premium being paid and Eldorado is larding on more debt, which could make deal treasure elusive.
Nielsen forced to get with the program 16 Sep 2016 The $19 bln TV-ratings kingpin is finally ripping up its archaic paper diaries. Dominance in audience measurement, used to set ad prices, has allowed the company to drag its feet. Encroaching competition from the likes of Comcast and Netflix is lighting a fire under Nielsen.
Chinese CEO divorce may disturb corporate children 16 Sep 2016 Software tycoon Zhou Yahui, owner of most of gay dating app Grindr, is transferring $1.1 bln worth of company stock to his ex-wife. That may traumatize the process of making additions to the company, perhaps including Zhou's ongoing effort to buy parts of Opera Software.
Macau casino revival depends on Chinese fun police 14 Sep 2016 After an anti-corruption campaign on the mainland crushed gaming revenues in the Chinese gambling enclave, signs of recovery are starting to emerge. But magnates like Sheldon Adelson and Steve Wynn will have to deliver on family-friendly promises to avoid another smack-down.
Pandora’s change of tune may hasten M&A 13 Sep 2016 The $3 bln streaming-radio firm wants more of its 78 mln listeners to cough up money to hear songs. New direct deals with Sony and Universal Music help. But Spotify, Sirius and others are well ahead with subscriptions. Too many music services that charge risks consumer fatigue.
Oprah still can regain her Weight Watchers points 13 Sep 2016 The American TV talk-show host is helping search for the diet firm's new CEO. Like a dieter, the stock has wavered, surging and then plunging since Winfrey took a 10 pct stake last October. Still, her business judgment could help the company spice up its aging business model.
F1’s new vehicle has the right engineers 8 Sep 2016 Media mogul John Malone is snapping up the race-car competition in an $8 bln deal. He has form making money out of live events and cable-TV businesses. And incoming Formula One Chairman Chase Carey is a sharp lieutenant. They'll need all their wiles to win financially, though.
Liberty’s $8 bln F1 deal calls for a team effort 8 Sep 2016 Motor racing is a sport of individuals, but the U.S. media company needs help to justify paying 17 times EBITDA for Formula One. Plans for U.S. growth will hinge on incentivising teams to work harder. Seller CVC, meanwhile, is left holding a large equity stake but no control.
Spotify’s investor pitch sounds off-key 8 Sep 2016 The Swedish group may restrict access to new albums to secure lower record-label fees. Music costs are rising faster than sales and need to be cut ahead of a possible IPO. An $8.5 billion private funding valuation hinges on the tricky task of weaning customers off free music.
Mario takes Nintendo up a level in mobile gaming 8 Sep 2016 Nintendo unexpectedly unveiled a Super Mario game at Apple's new phone launch. Following Pokemon's wild success, this confirms the Japanese group is no longer dragging its feet on reform and is ready to use top characters on mobile. It boosts the case for the new-look Nintendo.
TV broadcaster takes another wishful spin 7 Sep 2016 Tegna split from newspaper publisher Gannett last year hoping to lift its valuation. It didn't work as planned, but the company is now trying the same thing with auto-sales website Cars.com. Such financial engineering should work in theory. Markets sometimes have other ideas.
Fox settlements another price for poor governance 6 Sep 2016 Rupert Murdoch's Twenty-First Century Fox settled a high-profile lawsuit against former TV boss Roger Ailes as accusations of his sexual peccadilloes snowball. Like the phone-hacking scandal in the UK, it's a result of lax oversight abetted by a dual-class share structure.
Review: NBC chief’s deal-heavy memoir merits split 2 Sep 2016 Bob Wright engagingly takes readers behind the scenes of how he built the U.S. network over two decades at General Electric. Negotiations with Jack Welch, Bill Gates and Ted Turner enhance the drama. A moving ending about autism, however, would have better suited a second book.
EU offers vitamin pill to dying media patient 26 Aug 2016 Brussels wants to give media the right to seek compensation from search engines like Google that use online content. The intention is laudable - some publishers may be losing out. But the proposal has similarities with schemes in Germany and Spain - which haven’t worked.