BLOOMBERG MEDIA STILL ON THE UP AND UP
When Michael Bloomberg took back day to day control of his company
following his three term stint as New York City’s Mayor, there were many
speculations about what the company would look like under his
leadership and what would become of the consumer facing media division.
WAIT…SAY WHAT NOW?
both have been very focused on keeping all the Time Warner executives —
business executives, creative executives — going forward for the long
term“ -TIME WARNER CEO JEFF BEWKES ON WHO GOES AND WHO STAYS AFTER AT&T DEAL CLOSES
AT&T LOOKS TO MAKE A BIG SPLASHY ARRIVAL ON THE MEDIA STAGE WITH TIME WARNER ACQUISITION
The news sent TimeWarner’s stock soaring almost 8%. If you remember it
was just two years ago that Media Mogul Rupert Murdoch made an offer for
the company but it was shot down by CEO Jeff Bewkes and the company’s
board. Well this morning it was announced that AT&T has agreed in
principle to buy the media giant for $85 billion in a deal that will
create a new media and communications giant
PLAYBOY IS FOR SALE AGAIN
Playboy Magazine’s current owner is said to be in advanced talks to sell
the magazine to Hollywood executives Jeff Sagansky and Harry Sloan. The
publication which recently decided to go the fully clothes route to
attract more advertisers, is also said to be dealing with an internal
rift between newly installed creative chief Cooper…
GANNETT TRONC DEAL IS ON HOLD
As Gannett’s deal to buy Tronc unwound in real time Thursday,
punctuated by historic one-day share price slides, those in and around
the deal struggled for words to describe it. Collapse. Hit the wall.
Game over. However, for the money guys all around this deal, it’s a
phenomenon they’ve seen before.
SNAPCHAT IS HOPING TO RAISE $4 BILLION WITH IPO
Snapchat will seek to raise as much as $4 billion in its planned initial
public offering, according to people familiar with the matter. The IPO
could value Snapchat at about $25 billion to $35 billion, the people
said, asking not to be identified as the details aren’t public. No final
decision has been made and the size of the IPO may change, they said.
The valuation could reach as much as $40 billion, one of the people
TASTY IS THE ENGINE THAT DRIVES BUZZFEED VIDEO
Tasty is not just one of the biggest publishing brands on Facebook; it’s
now the driving force behind the BuzzFeed video juggernaut. In
September, Tasty’s main Facebook page was the third-biggest video
account on Facebook with nearly 1.7 billion video views, according to
Tubular Labs. Viewership per video is also staggering: During the last
three months, Tasty’s Facebook videos have averaged 22.8 million video
views in the first 30 days alone.
BARRON’S EDITOR ACCIDENTALLY SENDS EMAIL ANNOUNCING PLANNED LAYOFFS…OUCH!
Barron’s is planning to announce lay-offs next week, editor Ed Finn
wrote in an email that he accidentally sent to the entire Wall Street
Journal newsroom on Friday. On Friday morning, Journal editor Gerard
Baker emailed Journal employees to announce a round of newsroom
buy-outs. Finn — the president and editor of Barron’s, which is owned by
Journal parent company Dow Jones — apparently meant to forward Baker’s
email to Dow Jones Media Group publisher Almar Latour and two other
THE NEW YORK TIMES AND OTHER MEDIA COMPANIES SELL TICKETS FOR THEIR ELECTION NIGHT EVENTS
The New York Times, which hosted a large election event in 2008, is
doing so again this year. For $250, ticket-holders are invited to hear
Times reporters, editors, and executives — including executive editor
Dean Baquet and CEO Mark Thompson — as well as “special guests” discuss
the election. Guests will also be able to attend a cocktail reception
after the forum ends.
VIACOM IS ABOUT TO NAME ITS LONG TIME INTERNATIONAL CHIEF BOB BAKISH AS ITS NEW INTERIM CEO
Viacom Inc. is close to naming longtime executive Bob Bakish interim
chief executive officer as the company explores a possible merger with
CBS Corp., according to people with knowledge of the matter. Bakish will
have the opportunity to become permanent CEO, said one of the people,
who asked not to be named discussing private deliberations. The decision
to name him isn’t final, and someone else could be chosen, they
said. Viacom’s board is scheduled to meet Monday but could sooner.
VERIZON BUYS VIDEO PLATFORM ‘VESSEL’ FROM FORMER HULU CEO
Verizon said it is buying the technology behind Vessel, the short-form
video firm started by former Hulu CEO Jason Kilar. The telecom giant is
acquiring Vessel’s product and technology, but plans to shut down the
Vessel service. Kilar won’t be joining Verizon long-term, but his
co-founder, Vessel CTO Richard Tom, will become the CTO for Verizon’s
digital entertainment efforts.
GROUPON IS BUYING LIVING SOCIAL
Groupon has agreed to buy LivingSocial, its main competitor in the
daily-deals industry. Chicago-based Groupon said in its third-quarter
earnings report that it entered into the agreement with Washington,
D.C.-based LivingSocial on Monday. Groupon did not disclose the value of the deal but said, “The acquisition consideration is not material.”
CUTS COMING TO THE NY DAILY NEWS
Daily News staffers are growing more nervous by the day. New
Editor-in-Chief Arthur “Chucky” Browne is said to be exploring a move of
up to 40 jobs to a facility in the Jersey City printing plant. In
addition, 15 to 30 newsroom jobs at the struggling tabloid will be
eliminated between Election Day and Thanksgiving, sources said.
NEW YORK TIMES WILL SPEND $50 MILLION ON ITS GLOBAL EXPANSION
The New York Times has earmarked $50 million over the next three years
for its global expansion, which is a small outlay compared with what the
Guardian and Mail Online have spent on their overseas operations. “We
are learning in part from what we’ve done in the past and some of our
peers have done in terms of their global expansion.”