Media News

“Print ad revenues continue to be challenged by the weak economy's impact on real estate and classified advertising”

CHICAGO : Tribune Co. reported a first-quarter gain of $1.82 billion from continuing operations Thursday due to a change in tax status but said revenue declined 8 percent as newspaper ad sales continued to ... via International Herald Tribune

Comment?

Clear Channel Communications Inc. reported Friday its first-quarter profit soared due to asset sales, an investment gain and higher revenue, but earnings from continuing operations were flat.The radio ... via KansasCity.com

Comment?

Social networking site MySpace said Thursday it will soon enable users to quickly share profile data with Web sites operated by Yahoo Inc., eBay Inc. and others.

MySpace aims to save its users keystrokes and allow them to export their photos, videos and lists of friends.

"There's this concept that social networks are walled gardens," said Amit Kapur, MySpace's chief operating officer. "We're taking those walls down."

Other sites that can receive the MySpace data include Twitter and Photobucket. Like MySpace, the photo-sharing site Photobucket is a unit of News Corp. Read more

Comment?

“I look forward to once again working with him, and now his team. For years, Brad has been a great partner, who helped enable me to do what I need to creatively.”

David Chase, the seven time Emmy award-winning creator of "The Sopranos," has signed a deal with Paramount Pictures to write, direct and produce his first feature film, an original drama. via WKBW

Comment?

Man, this news truly bums me out. Variety reports that Picturehouse and Warner Independent Pictures are shutting down. via Cinematical

Comment?

Television mothers were honored recently by the Academy of Television Arts and Sciences. via Mochila

Comment?

Warner Music Group, whose artists include R.E.M., Green Day, Red Hot Chili Peppers, says higher costs and a shift to digital music led to a wider second-quarter loss, and that it would suspend its dividend in order to build cash reserves and lower debt.

New York-based Warner Music Group Inc. lost $37 million, or 25 cents per share, compared with a smaller year-ago loss of $27 million, or 19 cents. Losses from continuing operations total 23 cents per share in the latest period.

Sales gained 2 percent to $800 million from $784 million. Read more

Comment?

Sun-Times Media Group Inc. said late Wednesday it expects its shares to be delisted from the New York Stock Exchange because its share price doesn't meet the Big Board's minimum.

The publisher of the Chicago sun-Times and other Chicago-area newspapers disclosed in late March that the NYSE had notified Sun-Times Media that its shares were in danger of being delisted.

The struggling company's stock fell out of compliance with the exchange's continued-listing requirements after it failed to maintain the requisite 30-day average closing price of $1 or more. Read more

Comment?

“I don't think Cablevision will prevail”

Although his company is reported to be holding tight to its $580 million offer for Newsday despite apparently being outbid, News Corp. Chairman Rupert Murdoch believes he ultimately will wind up with Tribune Co.'s Long Island, N.Y., newspaper.

Long Island-based Cablevision Systems Corp. submitted a $650 million proposal for Newday last week, a few days after sources said Murdoch reached an agreement in principle with Tribune Co. Chairman and Chief Executive Sam Zell for control of the suburban New York tabloid. Read more

Comment?

Tribune Co. has upped Randy Michaels to chief operating officer and given him oversight of the company's two largest newspapers, the Los Angeles Times and Chicago Tribune. via Variety

Comment?