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Today's Headlines
From across the Web
MySpace, Facebook 'Must Monetize' to Survive
New Media Age
Social networks must start putting monetization above growth in order to survive, according to Deloitte. The call comes ahead of the release of Deloitte's media report for 2009. The harsh economic climate means that social networks need to "justify their worth to investors."
Apple Drops Prices, Copy Protection on iTunes
Associated Press
Apple is cutting the price of some songs in its iTunes online store to as little as 69 cents and plans to make every track available without copy protection. Apple is facing competition from Amazon.com, which charges as little as 79 cents a song -- with no copy protection.
Time Warner's Parsons: Commerce Secretary?
Broadcasting & Cable
Richard Parsons, former chairman of Time Warner, may be in line for U.S. Commerce Secretary in the Obama administration. Parsons is a member of the Obama Economic Advisory Board, which is helping the president-elect develop ideas to get the economy moving.
CNN's Gupta Approached for Surgeon General
CNN
The Obama administration has approached Dr. Sanjay Gupta, CNN's chief medical correspondent, about becoming U.S. surgeon general, according to sources inside the transition team and at the Time Warner news network. Gupta, based in Atlanta, has been with CNN since 2001.
CBS Chief Moonves Optimistic About Ad Market
Bloomberg
CBS plans to reduce capital spending to $350 million this year and would sell more radio stations, according to CEO Les Moonves, speaking at an investor conference. He adds that he is optimistic advertising will recover: "CBS is going to get the bulk of that revenue."
MSNBC Bows New Site for Joe Scarborough
Multichannel News
MSNBC is launching a new Web site for its weekday show "Morning Joe," hosted by Joe Scarborough. The site includes embeddable video and podcasts, allowing visitors to add show segments to their own Web sites or blogs. The site will offer "extras" that "can't fit into the broadcast."
Tribune: Cuban Wants More Time for Cubs Bid
Bloomberg
Billionaire Mark Cuban, who is being sued by the U.S. Securities and Exchange Commission for insider trading, says he has sought an extension from Tribune for his bid for the Chicago Cubs. "If they got the money they wanted, well my bid was not going to be high enough anyway."
Forbes Cuts 19 in Print-Online Restructuring
Mediaweek
Forbes Media is laying off another 19 people, marking the company's second round of cuts in the past two months. In November, 43 people were let go. In a restructuring, Forbes journalists will be tasking with producing content for both the print magazine and the online edition.
Conde Nast: We're Not Closing Men's Vogue
New York
A Conde Nast spokesperson is confirming that Men's Vogue magazine will not stop publishing, contrary to rumors on the Internet: "There is no change to our plans from what we said at the end of last year. We will put out two Men's Vogue in '09." The title will be packaged with Vogue.
NY Times May 'Transform' Into Huffington Post
Atlantic
The New York Times is in deep financial trouble and "destined for significant and traumatic change," writes Michael Hirschorn. At some point, the print edition "will no longer exist." The resulting nytimes.com will likely resemble "a bigger and less partisan" Huffington Post.
Drudge Pal Breitbart Launches Hollywood Site
Washington Times
Andrew Breitbart, a developer of the Huffington Post and former contributor to the Drudge Report, is launching Big Hollywood, a conservative-leaning group blog that vows to offer contributions from "hundreds of big minds." The goal, Breitbart says, is "to change the entertainment industry."
Hearst Loses Popeye; Disney's Mickey Next?
Times of London
At the start of 2009, Hearst's Popeye the Sailor comic character fell into the public domain in Europe under a European Union law that restricts the rights of authors to 70 years after their death. Disney's Mickey Mouse will soon follow. Popeye is protected in the United States until 2024.
NBC, CBS Set to Disappear, Analysts Say
Advertising Age
As more cable channels produce must-see programs, a top-rated cable outlet could come to reach as many viewers as one of the broadcast networks, according to industry analysts. Within three or four years, "you probably could lose one" of the major broadcasters.
Google Grabs Most of Obama's Online Ads
ClickZ
Barack Obama's U.S. presidential campaign spent more than $16 million on online advertising in 2008. Google was far and away the winner, taking in some $7.5 million. Turner Broadcasting/CNN.com netted $461,000 of Obama's online ad spend; Washington Post took home $125,000.
Time Warner Cable Allows CBS to 'Start Over'
Bloomberg
Time Warner Cable is signing a new deal to carry CBS's flagship network and Showtime premium channel. CBS and Showtime will be part of Time Warner Cable's "Start Over" feature that lets viewers restart shows and the "Look Back" service that makes programs available for three days.
Macrovision Changes Channels on TV Guide
Associated Press
Macrovision is canceling its deal to sell the TV Guide Network and TVGuide.com for $255 million to Allen Shapiro and One Equity Partners, and will instead sell them to movie studio Lions Gate for the same price but better terms. The new agreement "represents an improvement."
CBS's Scribner Buys Laura Bush Biography
Bloomberg
Laura Bush will write a book about her experiences in the White House to be published by CBS's Scribner unit for an undisclosed sum. The wife of President Bush, whose term expires Jan. 20, will work with a co-writer to produce a book detailing her years in the White House.
NBC to Air First-Ever 3D Super Bowl Ad Event
Broadcasting & Cable
In what is likely to be the most talked about event of Super Bowl, NBC is to air the first ever 3D commercial event ever aired in the big game. The event will promote DreamWorks' movie trailer for "Monsters and Aliens" and will be followed by a 60-second spot for Pepsi's Sobe Lifewater.
MSNBC's Matthews to Decide on Senate Bid
Los Angeles Times
"Hardball" host Chris Matthews is expected to let his bosses know in the coming weeks whether he plans to pursue a Senate run in Pennsylvania or renew his contract at MSNBC. The cable host is in talks with MSNBC about reupping his deal with the network.
NBC Bumps Ann Coulter, Denies Conspiracy
Hollywood Reporter
NBC News is denying a Drudge Report story claiming that conservative author Ann Coulter has been banned from the network after "Today" dropped her from Tuesday's program because of breaking-news events. "We look forward to welcoming her back in the future," says NBC.
Televisa, Univision Clash Over Telenovelas
Los Angeles Times
Televisa, the world's largest producer of telenovelas, is seeking to end a 25-year programming contract with Univision. If their deal falls apart, the nature of Spanish programming in the United States could change, say observers. Univision could be hit with new "financial pressures."
ESPN.com Formally Launches Redo with Video
Los Angeles Business
Disney's ESPN is formally launching its redesigned Web site after keeping the design in a beta for a month. ESPN Beta was available to subscribers to ESPN's Insider service. The new site puts a greater emphasis on video, including a player that offers clips in a 16x9 aspect ratio.
CBS to Launch P&G Branded Internet Series
PPN
CBS will launch a Web series, "Heckle-U," sponsored by Procter & Gamble. The show will complement the network's coverage of the NCAA March Madness, following the life of a slacker who takes pleasure in heckling and taunting players of the opposing team during games.
McGraw-Hill Cuts 70 Jobs in Media Division
Bloomberg
McGraw-Hill, the owner of BusinessWeek magazine, says that it cut 375 more jobs in the fourth quarter as the market slowdown and U.S. recession eroded revenue. McGraw-Hill cut a total of 1,045 positions last year, including 70 positions in information and media.
Bertelsmann's Gruner + Jahr Names New CEO
Dow Jones
German publisher Gruner + Jahr, in which media giant Bertelsmann has a 74.9% stake, is naming Bernd Buchholz as its new CEO. Buchholz will replace former CEO Bernd Kundrun. Hamburg-based Gruner + Jahr publishes various magazines and Financial Times Deutschland.
Tribune to Announce Winning Bid for Cubs
Chicago Tribune
Tribune, owner of the Chicago Cubs, is said to be close to selecting a winning bid for the team from three finalists: Chicago real-estate investor Hersch Klaff, the Ricketts family, and a group led by New York private-equity investor Marc Utay. A decision could come within days.
Sun-Times, Monster Launch Cobranded Sites
Associated Press
Sun-Times Media and career Web-site firm Monster plan to roll out cobranded job search sites. The cobranded sites will launch with the Chicago Sun Times, as well as the Sun-Times's 70 suburban newspapers. Sun-Times papers and sites reach 4 million readers a week.
Washington Post Exec Bennett to Step Down
UPI
Washington Post managing editor Philip Bennett plans to step down this week after four years on the job. Bennett, the newspaper's No. 2 news exec, says that the appointment of Marcus Brauchli as executive editor "made me think this was a good time to do something new."
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Financial Times to Roll Out Corporate RSS
Brand Republic
The Financial Times is launching a customized RSS service for internal use by corporate customers. The initiative comes eight months after the Pearson newspaper started to license content to corporate customers. Licensees will have the ability to customize RSS feeds.
Foreign Policy Adds Blogs to New Web Site
Washington Business
Washington Post's Foreign Policy magazine is relaunching its Web site. The new ForeignPolicy.com will offer daily news about "global politics, economics and ideas." The new site will feature blogs by luminaries such as Pulitzer Prize-winning military reporter Tom Ricks.
Marie Claire to Unveil Third Web Redesign
WWD
Marie Claire is relaunching its Web site Jan. 15. Marieclaire.com has been redesigned twice during the past two years since it broke off from iVillage. The site will increase its video coverage will include video clips of the Hearst magazine's forthcoming reality TV foray "Running in Heels."
Cox Moves Auto Ad Magazines to Internet
Atlanta Journal Constitution
Cox Enterprises plans to close two of its automotive-classified magazines, AutoMart and AutoExtra, and devote more resources to their online counterparts. Some of the publications' jobs will be cut. Atlanta-based Cox also owns the Atlanta Journal Constitution.
Google Sued by Model Over Blog Comment
New York Daily News
Model Liskula Cohen is suing Google in an attempt to unmask the blogger who trashed her as a "skank" on a blog hosted by the search engine's Blogger.com subsidiary. The defamation suit seeks a court order compelling Google to identify the source of the online "assault."
EBay's Whitman Said to Eye Governor Race
San Jose Mercury News
Former eBay CEO Meg Whitman is stepping down from the boards of eBay, Procter & Gamble and Dreamworks Animation -- a signal that she likely will throw her hat in the ring for the 2010 California governor's race. Whitman could announce her candidacy within weeks.
Twitter Phishing Scam Snares Media Figures
CNET
Fox News and CNN anchor Rick Sanchez are among the apparent victims of a password-stealing phishing scam plaguing Twitter. The microblogging service has issued a message on all members' home pages alerting them of the issue. (So far, themediaisdying appears to be unharmed.)
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MAGAZINES & NEWSPAPERS
Conde Nast Magazines See 'Ugly January'
New York Times
Of the 10 U.S. monthly magazines with the worst declines in January, four are Conde Nast titles: Wired, Architectural Digest, Vogue and Lucky. Unlike other publishers, Conde Nast is known for being inflexible on ad prices. Also, "perhaps there are clients that are cutting back."
NY Times Sells Display Ads on Front Page
New York Times
In its latest concession to the worst revenue slide since the Depression, the New York Times has begun selling display advertising on its front page, a step that has become increasingly common across the newspaper industry. The first such ad, appearing Monday in color, was bought by CBS.
Lee's Debt Trouble Triggers Auditor Warning
Associated Press
Lee Enterprises, publisher of the St. Louis Post-Dispatch and other newspapers, says it will have trouble paying its debt because of severe reductions in revenue. Also, an outside auditor is questioning Lee's ability to remain a "going concern" if the company is unable to refinance its loans.
Washington Post to Launch Political Web Site
Politico
The Washington Post is said to be launching a political news Web site in the coming weeks called Who Runs Gov. The site will include profiles of leaders in the political and policy worlds. The lead blog will be edited by Greg Sargent, formerly an editor with Talking Points Memo.
Kansas City Kansan Will Move to Web-Only
Kansas City Business
GateHouse Media's Kansas City Kansan will cease publishing a print newspaper and move to a Web-only publication. The paper, founded in 1921, has eight employees and will cut that number to four with the move. A redesigned Web site will launch on Wednesday.
Hoy Nueva York to Stop Print Publication
Associated Press
The difficult economy has shut down print publication of another U.S. Spanish-language newspaper. Hoy Nueva York's publisher, Rossana Rosado, says that all but four of the newspaper's 20 staffers have been let go and that the publication will continue only on the Internet.
AsianWeek to Drop Print, Go Internet Only
AFP
AsianWeek, a 30-year-old newspaper for Asian-Americans based in San Francisco, plans to stop publishing its print edition and go online only. "There are fewer major newspapers, fewer newspaper readers and fewer newspaper advertisers than ever before," say the paper's execs.
JPG Magazine to Shutter Print, Web Editions
AFP
JPG Magazine, a print and Web publication featuring pictures contributed by amateur and professional photographers, is shutting down. The 8020 Media-owned title has "reached the end of the line" as a business, according to editor-in-chief Laura Brunow Miner.
Radler to Write Business Book About Media
Chicago Tribune
Former Chicago Sun-Times publisher David Radler is now out of prison, paroled 10 months into a 29-month sentence for fraud. He says he plans to write a book — a "business primer" on how he and former partner Conrad Black built their global media empire together.
Media Shakeout Is Inevitable, Editor Says
Mr Magazine
Time magazine top editor Richard Stengel said he sees similarities between America's media and auto industries. Detroit is suffering for producing "too many types of cars." In media, a "slimming down" is inevitable because, apart from the rise of online, there are "too many products out there."
Newspaper Asset Sales Draw Few Buyers
Financial Times
Some 30 U.S. newspapers are up for sale, including the 149-year-old Rocky Mountain News and the San Diego Union Tribune, but few buyers have emerged in spite of rock-bottom prices. "There are no buyers in the market for those properties," according to one media investment banker.
Magazine Launches Drop 13% This Year
Crain's New York
In a year marked by the shuttering of high-profile titles such as CosmoGirl and Quick & Simple, the number of new magazines launched was down 13% in 2008 compared with 2007, according to MediaFinder.com. The 335 new magazines of '08 tended to be small titles with a narrow focus.
McClatchy Shares Fall to All-Time Low
Dow Jones
Shares of McClatchy, which have been on a downward spiral since the newspaper publisher released disappointing revenue figures Monday, plummeted more than 30% Thursday to an all-time low. CEO Gary Pruitt has admitted that McClatchy's performance has been "lousy."
NY Times to Launch 'Instant Op-Ed' Online
Editor & Publisher
The New York Times plans to launch an "Instant Op-Ed" feature that will allow the newspaper's Web site to post immediate expert viewpoints on breaking news, according to editorial page editor Andrew Rosenthal. The Op-Ed form will be given "a robust position online."
Chicago Tribune to Print WSJ, Barron's
Chicago Tribune
The Chicago Tribune is entering a deal with Dow Jones & Co. to print the Wall Street Journal and Barron's in the Midwest. Printing the two Dow Jones publications is expected to net the Tribune more than $2 million annually, while reducing Dow Jones' expenses in the region.
Hearst's Cosmo Apologizes to Johansson
Guardian
The U.K. edition of Cosmopolitan magazine is making a public apology to Scarlett Johansson. The actress threatened legal action after the magazine ran an interview that included quotes she denied giving. Cosmopolitan is admitting to "inaccuracies" in its January issue.
Newspaper Web Sites Boost User Content
TechCrunch
U.S. newspapers are still lurching their way around the Web, according to a study by the Bivings Group. While nearly every newspaper Web site has reporter-written blogs, social networking is largely non-existent. Also, more newspaper sites are adding user-generated content.
>> MORE
TELEVISION & RADIO
Oprah Had a 'Weighty' 2008, Columnist Says
Fox News
Was 2008 the year of Oprah? Fox News columnist Roger Friedman points out that multimedia star Oprah Winfrey "selected" America's new president, survived a scandal at her school in Johannesburg, endorsed another fake memoirist, and announced she had gained 40 pounds.
CNN: Griffin 'Inappropriate' on New Year's Show
New York Post
CNN issued a statement saying that comic Kathy Griffin thought she was off-air when she razzed a heckler during the cable news network's live New Year's Eve telecast, co-hosted with newsman Anderson Cooper. CNN officials said there was no word on whether she would be asked back.
FCC: TV Stations to Lose Viewers in Digital Move
Bloomberg
One in nine U.S. television stations will lose broadcast viewers after the Feb. 17 transition to digital signals, according to the Federal Communications Commission. Signals from 196 stations will reach fewer people. The transition has been called the FCC's "most important challenge."
TV Industry Revenues Decline 7% in '08
TV Week
Television industry revenues are expected to be down 7% this year, according to BIA Advisory Services estimates. TV -station revenues will be $20.1 billion in 2008, their lowest number in seven years. The decline is attributed to the economic crisis and stagnant advertising.
Fox Business Sues U.S. Treasury Dept
Politico
Fox Business Network is filing a lawsuit against the U.S. Treasury Department for failure to provide data on the bailout funds on America's "troubled" financial institutions. "It's more important than ever to hold the government accountable," said Fox News exec Kevin Magee.
Fox News Ranks No. 1 in Cable News
Broadcasting & Cable
Fox News Channel will finish 2008 as the most-watched cable news network -- for the seventh consecutive year. The network is the No. 3 ranked basic-cable network in prime time, behind USA and ESPN. CNN, the most-watched network on election night, is No. 10.
MTV to Cut About 80 Jobs in London
Guardian
MTV U.K. is to cut up to 80 jobs, around 10% of its work force, as part of parent Viacom's global plan to save $250 million next year. Viacom last week announced it would be shedding 850 jobs worldwide as part of a cost-cutting initiative as well as freezing management pay.
Sirius XM Ends '08 With 22% Less Staff
TheStreet
Sirius XM Radio said it will have trimmed 22% of its work force by year-end, as the satellite radio provider moves to slash costs. The company will have cut 458 people from its staff, going down to 1,600 people from the 2,058 it employed before the July acquisition of XM.
FCC to Ease Enforcement Under Obama?
MSNBC
Under new U.S. president Barack Obama, will the Federal Communications Commission loosen up its enforcement reins? Some observers believe that Obama may find government intrusion in issues like "wardrobe malfunctions" and "fleeting expletives" to be "appalling."
Macrovision to Sell TV Guide, Web Site
Silicon Valley Business
Macrovision Solutions has agreed to sell the TV Guide Network to Allen Shapiro and One Equity Partners for about $255 million. The deal includes TVGuide.com but not TV Guide magazine, which Macrovision said in October it would sell to OpenGate Capital.
Sirius XM Seeks Help to Pay Off $1B Debt
Wall Street Journal
Sirius XM Radio shareholders plan to meet to vote on a new share issuance designed to bolster finances. The satellite radio operator has almost $1 billion in debt coming due next year. At Wednesday's closing price, however, the extra shares would be worth just $455 million.
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INTERNET & DIGITAL MEDIA
Google to 'Fail' to Become a Media Company
Searchblog
Google will struggle to diversify its revenue in 2009, predicts John Battelle, the head of Federated Media and the author of a book about the Internet giant. While Google has an opportunity to become "a new kind" of media company, it will "fail to do so, mainly for cultural reasons."
Apple CEO Jobs Reveals Nutritional Ailment
Bloomberg
Steve Jobs, after months of concern about his health and weight loss, says he is suffering from a nutritional ailment and that he plans to remain Apple's CEO during his treatment. "A hormone imbalance has been 'robbing' me of the proteins my body needs to be healthy."
Netflix to Launch TVs with Instant Movie Viewing
Reuters
LG Electronics will soon introduce television sets that can screen Netflix movies directly from the Web without an external box. Netflix, which is seeking to equip all home-entertainment screens with instant movie viewing, is also announcing a partnership with Microsoft's Xbox 360.
Google, Baidu Targeted in China Crackdown
Bloomberg
China, the world's biggest Internet market, has announced a crackdown on Web sites that it says spread offensive content, singling out search engines Google and Baidu for criticism. A vulgar tone on the Internet "has seriously damaged the physical and mental health of youth."
Facebook Breaks Traffic Record Christmas Eve
CNET
Facebook saw record traffic on Christmas Eve. The social-networking site's top markets of New York, Chicago, Washington, Boston and Philadelphia were all hard hit last week by severe weather, which may have prevented many people from getting out and visiting in person.
FriendFinder, Penthouse Parent Files for IPO
Reuters
FriendFinder Networks, the publisher of Penthouse magazine and the operator of the social-networking site Adult Friend Finder, has filed for a $460 million initial public offering. FriendFinder, formerly known as Penthouse Media Group, plans to use the proceeds to pay off debt.
Gawker Sells Blog, Pessimistic About Web Ads
CNET
Gawker Media has sold its Consumerist blog to Consumers Union, the publisher of Consumer Reports magazine. Gawker also plans to sell its gossip blog Defamer. "People have generally been too optimistic" about online advertising, says Gawker founder Nick Denton.
Google, Web Leaders Rise in Downturn
Dow Jones
The current Internet leaders have a better chance of retaining their already-dominant positions because of their strong leads, according to industry observers. Google commands 64% of the global search market; Netflix controls some 70% of the U.S. online movie rental audience.
Hulu Named AP's Web Site of the Year
Associated Press
Hulu, the NBC Universal-News Corp. video site, has proven to be "a trailblazing answer to how professional content can thrive on the Web," said the Associated Press. Hulu's advertising revenues have been forecast to equal the much larger YouTube's by the end of 2009.
Internet Helping to Kill Off Trade Shows
Dow Jones
The sliding global economy is prompting companies such as Apple to skip major trade conferences. The Web is providing an instant, inexpensive means for interacting with customers. "The traditional trade show is looking quite old school," said Pund-IT analyst Charles King.
Digg, Tech Startups See Valuations Slip
BusinessWeek
A year ago there were reports that Digg had hired investment bank Allen & Co. to put the popular social news site on the block for $300 million. Now that number "looks like a relic from a bygone era." A venture-capital investment in Digg in September implies a valuation of $167 million.
Gawker Blog Network Makes 'Brutal' Cuts
WWD
Gawker Media is responding to the online advertising recession with consolidations, cutbacks and layoffs. "Brutal" changes are needed to get the business "into good shape," said founder Nick Denton, so that the blog network can "remain independent."
Music Industry Halts Online Piracy Suits
Wall Street Journal
After suing some 35,000 people for allegedly stealing music via the Internet, the Recording Industry Association of America plans to drop its legal assault. Instead, the trade group plans to work with Internet-service providers when it finds customers making music available online.
Google Is Violating Privacy, Group Says
Reuters
A Japanese civilian group called Campaign Against Surveillance Society wants Google to stop providing detailed street-level images of cities in Japan on the Internet, saying they violated privacy rights. Google is "deeply violating a basic right that humans have."
Oprah Boosts Amazon's Kindle to $1,500
Bloomberg
Amazon.com's Kindle quickly sold out after Oprah Winfrey endorsed the electronic-book reader on her television show in October. With Christmas a week away, used Kindles have been listed on EBay, Craigslist and Amazon.com’s second-hand product site for up to $1,500.
>> MORE
ADVERTISING & MARKETING
WPP to Cut Thousands of Jobs Amid Gloom
Observer
Advertising giant WPP will cut several thousand jobs as the economic slump takes hold of its worldwide operations. The group, which employs more than 100,000 people, is pushing through the cuts after budgetary meetings between divisional heads and CEO Martin Sorrell.
Ad 'Depression' Coming, Forecaster Says
Dow Jones
Advertising forecasters have been ratcheting back their outlooks for months. But media economist Jack Myers just upped the ante with his prediction of an "advertising depression" -- an unprecedented three straight years of spending declines. The industry may see a "massive shakeout."
YouTube Surpasses TV in Impact of Ads
New Media Age
YouTube users are 1.5 times more engaged in advertising than television viewers, according to research done in partnership with General Motors Europe, Motorola, media agency MindShare and the Online Testing Exchange. YouTube ad recall is 14% higher than TV's.
Ad Giant Omnicom to Cut Up to 3,500 Jobs
Ad Age
The advertising industry's largest holding company, Omnicom Group, is said to be eyeing a massive layoff of nearly 5% of its global work force of 70,000. It is believed that ad agency BBDO, which lost its flagship U.S. brand Pepsi business this year, would particularly feel the ax.
Online-Video Ads Showing Slower Growth
Wall Street Journal
Television networks have long hoped digital dollars would help offset declines in traditional advertising spending, but now even online video is showing some signs of faltering amid the recession. While advertising on the video site Hulu was sold out as recently as August, it is no longer.
TNS: Advertisers Slow Migration to Web
ClickZ
Advertising spending declined 1.7% during the first nine months of 2008, according to TNS Media Intelligence. And while Internet display ads represented a bright spot -- up 7% -- advertisers are moving their money to the Web at a slower rate than they had in recent years.
Google, Search Ads May Face Tough '09
MarketWatch
Internet search could see its first-ever sequential decline in the first quarter of next year, according to a report by Citigroup analyst Mark Mahaney. In anticipation of tough times ahead, Google has made "significant" cost cuts including layoffs of temporary employees.
Advertising Growth Seen Stalling in '09
Financial Times
The global financial crisis is hitting advertising harder than expected and 2009 will see no growth in worldwide marketing spending, according to ZenithOptimedia. Internet advertising will grow fastest next year, while newspapers, magazines and radio are expected to decline.
Video Game Ad Growth Seen Far Away
Reuters / AP
Advertising in video games is unlikely to become a big business anytime soon, according to media execs. One problem lies in the perception that ads in games are distracting. Also: More than half of American adults play video games, according to the Pew Internet & American Life Project.
Google, Hallmark Channel Team Up for TV Ads
CNET
Google and the Hallmark Channel have formed a partnership that will make Google TV Ads the channel's exclusive advertiser. According to Hallmark, many of the advertisers it is now trying to attract through Google's TV Ads platform are new to the television platform.
Nielsen Offers Second-by-Second Viewer Data
Reuters
Nielsen has begun offering second-by-second viewership data to the National Geographic Channel, the first client to sign up for its new service, providing insight into how many viewers watch commercials. Nielsen has been facing pressure for more effective ways to track ad viewership.
Blogs Attracting More Advertising, Report Says
BtoB
The majority of blogs in the United States currently have advertising and host an average of 18,000 unique visitors monthly, according to a new report from blog search firm Technorati Media. The most popular blogs see annual revenue from ads averaging more than $75,000.
Newspaper Online Ads Continue to Plummet
Bloomberg
U.S. newspapers' online advertising sales fell 3% to $749.8 million in the third quarter from a year earlier, the second consecutive drop, according to the Newspaper Association of America. Print-ad sales slid 19%, their steepest quarterly decline since the group began tracking data in 1971.
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MEDIA COMPANIES
Media Predictions 2009: What Won't Happen
BusinessWeek
Yahoo won't be sold in 2009, predicts BusinessWeek columnist Ron Grover. Activist investor Carl Icahn will want a new CEO "to make serious changes before pushing for a sale." Also, television networks "won't disappear." YouTube is unlikely to be "the online video winner."
2008 Media Prediction Contest: Few Winners
USA Today
For the first time in seven years, a Wall Street expert — Pali Research's Richard Greenfield — beat readers in predicting how 2008 would unfold in the media, in USA Today's 12th annual Media Prognostication Contest. For 2009, Greenfield says he sees "a lot of cautious signs."
Media's Biggest 2008 'Losers' Include Murdoch
Business Sheet
Media moguls from Bob Iger to Martha Stewart haven't been spared from the financial meltdown. Rupert Murdoch reportedly lost $3.95 billion in 2008. Sumner Redstone saw his fortune drop by nearly $4 billion. In fact, Redstone may no longer be a billionaire.
2008: A Bad Year for Media Industry Stocks
Hollywood Reporter
The worst year for media stocks in a long time came to an end last week, and few expect a quick turnaround in 2009. Conglomerate stocks hit new 52-week and — in many cases — historic lows. Still, some on Wall Street are recommending Time Warner and Comcast for 2009.
Media Deals at Lowest Level in Eight Years
Mediaweek
Media deal-making has slowed to its lowest level in at least eight years, with more deals falling through than getting done. A scant $2 billion worth of reported transactions took place in 2008, down from $9.6 billion in 2007, according to investment bank DeSilva + Phillips.
Time Warner No Longer No. 1 Media Company
Advertising Age
Advertising Age has ranked Time Warner as the largest U.S. media company every year since 1995. The media giant will drop to No. 2 with the early 2009 spinoff of Time Warner Cable. With Time Warner's spinoff, cable operator Comcast is set to become the nation's No. 1 media firm.
Viacom Apologizes for Time Warner Cable Ad
UPI
Viacom issued a statement regarding its renewal deal with Time Warner Cable for carriage of MTV Networks, in the wake of U.S. newspaper ads Friday suggesting the contrary. Due to the timing of the deal and the New Year's holiday, Viacom was "unable to pull the ads."
News Corp's 'Marley' Not a Dog at Box Office
Bloomberg
"Marley & Me," News Corp.'s tale of a mischievous dog, led box-office sales for a second week, as Hollywood studios refrained from releasing new movies over the post-New Year's weekend. Disney's "Bedtime Stories" held on to second place; Viacom's "Benjamin Button" remained in third.
Disney Revitalized by Iger, Eyes Acquisitions
Fortune
Disney is seeing a creative and financial revival since Bob Iger became CEO roughly three years ago, observers say. Iger hopes to use Disney's position of relative strength to make new acquisitions like videogame publishers and Club Penguin, the kids' social network it purchased last year.
Malone Quietly Dumps Shares of Diller's IAC
Wall Street Journal
Why has John Malone been dumping his shares of IAC/InterActiveCorp? Malone in recent weeks has sold roughly $17.5 million worth of IAC stock. The sales raise questions about whether Malone is losing confidence in his investment in the Internet conglomerate run by Barry Diller.
Burkle May Seek Talks With Barnes & Noble
Bloomberg
Ron Burkle and his Yucaipa Cos. private-equity firm have reported an 8.3% stake in Barnes & Noble. Burkle, who acquired Primedia's Motor Trend and other enthusiast magazines in 2007, may discuss "strategic opportunities" with the top bookseller. Barnes & Noble lost 56% of its value in 2008.
Study: U.S. Media Need New Biz Models
Nieman Journalism Lab
Harvard University is releasing a study exploring the emerging digital media environment. Citizen media is "not doing everything we have counted on journalism institutions to do." Meanwhile, journalism institutions "are in serious trouble." It is time to "look at models from other countries."
Google, Murdoch Defy Their '08 Promise
Fortune
Some of the most-watched, most-hyped media stories of 2008 didn't exactly go as expected, according to Fortune editor-at-large Richard Siklos. Google was unable to find much success in branching into traditional media; Rupert Murdoch "didn't ruin" the Wall Street Journal.
Media Prediction: CBS to Disappear in '09
MediaPost
The media industry will find 2009 to be a very difficult economic year, according Diane Mermigas, editor-at-large at MediaPost. Some television and newspaper properties "will shut down." Broadcaster CBS is "most likely to collapse or convert into a general entertainment cable network."
Media Moguls Set for 'Imminent Shakeout'
TheDeal
A new media order is coming -- one that takes power away from the conglomerate and puts the consumer in command, warn industry observers. Dennis Miller of Spark Capital believes that a mere handful of traditional-media giants will "effectively morph" into Web 2.5 enterprises.
Redstone, Daughter Clash on Debt Payoff
Wall Street Journal
Sumner Redstone's tensions with his daughter Shari over a possible sale of their movie theaters are coming to a head as the family moves closer to a deal to help pay down their $1.6 billion debt. Shari is opposed to selling the theaters. The two Redstones now only communicate via fax.
Hollywood Sees More Tough Times in '09
Reuters
The economic crisis and the threat of another labor strike are creating a "perfect storm" for Hollywood, as major studios to brace for further layoffs early next year, according to both studio execs and analysts. Insiders expect to see belt-tightening at the ABC network and other outlets.
Time Warner: No Media Buys Despite Cash
Dow Jones
Time Warner will soon spin off its cable division in return for a cash windfall of over $9 billion. But with its stock at six-year lows and its disastrous AOL marriage a not-too-distant memory, the media giant said it will forego big acquisitions to focus on shareholder returns.
Sumner Redstone Gets Time to Sell Assets
BusinessWeek
Banks appear to be indefinitely extending Viacom/CBS boss Sumner Redstone's Dec. 19 debt repayment deadline to afford the media mogul time to sell off assets. Despite his protests to the contrary, Redstone may be forced to sell some of his shares of Viacom and CBS.
Macrovision to Sell TV Guide, Web Site
Silicon Valley Business
Macrovision Solutions has agreed to sell the TV Guide Network to Allen Shapiro and One Equity Partners for about $255 million. The deal includes TVGuide.com but not TV Guide magazine, which Macrovision said in October it would sell to OpenGate Capital.
Disney Sued Over Profit-Sharing Contract
Los Angeles Times
Disney's main film financing partner, Kingdom Films, has filed a lawsuit against the studio, accusing it of breaching a 2005 contract guaranteeing it a share of profits from the recent hit "High School Musical 3: Senior Year" and next year's release of " Hannah Montana: The Movie."
Time Warner Names Bewkes as Chairman
Bloomberg
Time Warner has named CEO Jeff Bewkes to the additional role of chairman, in line with a succession plan outlined by current chairman Dick Parsons earlier this year. Parsons, who will step down Dec. 31, also serves as an economic adviser to U.S. president-elect Barack Obama.
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