Wanda’s Hollywood ambitions show legendary savvy 5 Jan 2016 The Chinese entertainment group is adding the U.S. studio behind “Jurassic World” to a portfolio that includes a Spanish soccer team and Ironman races. Buying Legendary Entertainment should help fill seats in its cinemas globally – and perhaps even bolster China’s soft power.
Lost decade demands Viacom get with the programs 4 Jan 2016 The MTV owner’s shares have barely budged since it split from CBS 10 years ago. In that time, boss Philippe Dauman oversaw some $21 bln in stock buybacks, more than Viacom’s current $17 bln market value. It’ll take greater creativity to rejuvenate Sumner Redstone’s networks.
Viacom, Time Warner among 2016 merger wannabes 31 Dec 2015 U.S. media distributors such as cable outfit Comcast have bulked up, and Apple, Amazon and the like have built new streaming models. The giants have 12-digit valuations. With the exception of Disney, traditional content makers are looking puny. They’ll feel the urge to merge.
Review: Making Big Data visible and tangible 31 Dec 2015 Projecting selfies onto a screen in real time shows both the value and vulnerability of today’s flood of ones and zeros. A London exhibition explores the good, the bad and the infrastructure of data from inventive angles. It makes a vital unseen world visible – and scary.
What you read in 2015: deals, drugs and debacles 30 Dec 2015 This year’s best-read Breakingviews spanned everything from crisis-hit Malaysia to Big Pharma deal-making, Britain’s prospects outside the European Union, and Alibaba’s dangerous blind spot. Views on HSBC, Costco, the Financial Times and Singapore at 50 were also big hits.
Breakdown: U.S. song rights could use some harmony 23 Dec 2015 An obscure board has upped fees online radio’s Pandora pays performers for music. Satellite rivals owe less, and terrestrial stations nothing. Separate rates cover composers, and stars like the Beatles – now on Spotify – set their price. Lesser lights get lost in the cacophony.
Netflix will be recast from ally to villain 22 Dec 2015 Once derided as the “Albanian army” by Time Warner boss Jeff Bewkes, the video-streaming service is now valued at about the same $55 bln as his company. With some 69 mln subscribers globally, it may be too late for media bosses to do anything about this beast they helped create.
Star Wars awakens new hope for Disney returns 21 Dec 2015 The latest adventure from a galaxy far, far away raked in a record $238 mln in North America and $517 mln overall on its opening weekend. Based on returns for other movies, the power of the Force could make Lucasfilm worth almost $20 bln - five times what Disney paid.
Short-seller attack on Casino ultimately healthy 18 Dec 2015 A withering critique of the French retailer’s book-keeping by a short-seller sent shares down by almost a fifth. Casino is riled. Muddy Waters’ approach raises ethical questions. But one way to see this conflict is as a beneficial kind of pessimism-tinged activism.
Casino mogul secretly bought the wrong newspaper 17 Dec 2015 Sheldon Adelson has emerged as the mystery buyer of the Las Vegas Review-Journal. It’s not clear why the billionaire wants it, beyond solidifying his influence in Nevada. Macau matters more to his business than Sin City – maybe he should have grabbed the South China Morning Post.
Disney awakens the financial power of the Force 15 Dec 2015 The media conglomerate appeared to have fallen for a hokey religion when it paid $4 bln for Star Wars maker Lucasfilm. Now, as it prepares to unleash the first of six new movies, it could more than triple its money. Even Jabba the Hutt would be happy with that payoff.
Spin-meisters’ $841 mln deal takes cue from clients 15 Dec 2015 The purchase of press release service PR Newswire is the latest in a string of deals for Cision, owner of the Gorkana journalist database. Acquisition “platforms” have already colonized the pharma and consumer sectors. It was only a matter of time before flaks piled on.
Howard Stern talk helps buoy Sirius XM 15 Dec 2015 The popular American shock jock renewed his contract with John Malone’s $21 bln satellite radio service for the next 12 years. Music is a big draw for Sirius XM subscribers but having Stern, Baba Booey and others in his merry band helps with retention in a crowded field.
Wu-Tang Clan’s sales method is mostly madness 11 Dec 2015 The hip-hop collective auctioned a one-copy album in what seemed like a cool experiment after Prince gave one away, Radiohead tried a name-your-price model and Adele bypassed streaming. The exclusivity attracted an unpopular buyer, however. Wu-Tang’s experiment may end up unique.
Review: A bitter guffaw as Wall Street falls apart 11 Dec 2015 The 2008 financial crisis was too complex for any one medium to tell it all. Journalists and protagonists have penned books. Hollywood has tried terse drama. There have been documentaries and radio shows. The film “The Big Short” goes for dark humor that barely masks disgust.
Alibaba’s HK newspaper deal adds to mission creep 11 Dec 2015 The e-commerce giant’s purchase of South China Morning Post is an old headline with a new twist. Jack Ma follows in the footsteps of countless tycoons wielding influence through the press. The difference is that he’s forcing Alibaba’s public shareholders to lend him a hand.
China’s music dream is out of tune with reality 4 Dec 2015 State planners are good at building bridges and roads. Appealing to consumers is harder. Their latest goal is to expand China’s music business to $47 bln by 2020 – almost three times the current size of the U.S. market. It just shows how out of touch bureaucrats are.
Cox: Two signs of M&A bacchanal’s last hurrah 1 Dec 2015 The boom just topped $4 trln, helped along by one telltale massive deal and another much smaller one. Pfizer’s takeover of Allergan is clearly predicated on exploiting tax loopholes while a U.S. retailer is getting into the pizza racket. Both indicate a cycle well past its peak.
Sumner Redstone’s health ails corporate governance 1 Dec 2015 The mental capacity of the Viacom and CBS chairman is being called into question again, this time in a lawsuit filed by a former girlfriend. At this point, shareholders in both media companies deserve a clearer idea of whether the ailing 92-year-old is fit to lead the boards.
Jack Ma paper chase is test of newsprint’s appeal 26 Nov 2015 The Alibaba founder is interested in buying Hong Kong’s South China Morning Post. The 112-year old title’s earnings are under pressure, and the financial logic looks thin. But as fellow e-commerce boss Jeff Bezos showed with the Washington Post, newspapers still have trophy value.