Comcast couldn’t mollify Wall Street about its pending deal to buy NBC Universal this morning, because it refused to talk about the deal at all. The company did spend time, though, explaining the peril and possibilities that Web video poses for the cable giant.
Many newspaper publishers say the ad sales slump has stopped, but not at Wapo: Both print and Web ad declines accelerated over the last quarter. Newsweek, meanwhile, saw its ad sales drop by half.
News for the foodie/NY blog scene: Ben Leventhal, co-founder of the influential Eater blog, is headed to GE’s NBC Universal, where he’ll oversee “lifestyle content” for NBC’s growing local Web unit.
McGraw Hill isn’t quite done with BusinessWeek–it isn’t supposed to formally hand off the magazine to Bloomberg until later this year–but it is just about there. Today the company told investors just how much it will net from the sale of the 80-year-old title: $9.3 million, or $5.9 million after taxes.
Here’s a good way to get your hands on scarce venture capital money: Create a start-up geared around Twitter-like “real-time” sharing and conversations. The newest entrant: Hot Potato, a buzzy start-up that’s supposed to let users converse about a particular event, whether they’re attending it in person or watching from afar. When it’s up and running, that is. The five-man crew doesn’t have users or a product just yet. But it has just raised around $1 million.
The New York Times’s model for content creation, which revolves around well-paid professionals who rely on their experience and judgment, looks increasingly threatened. What does a new model look like? Perhaps one where a computer spits out assignments to day laborers who work furiously for low pay.
After a couple of miserable quarters, NBC Universal finally has some good news to announce: Boosted by a one-time gain, earnings actually increased in Q3, even though the entertainment conglomerate’s revenue kept dropping. Perhaps those numbers will cheer Comcast investors, who have been beating up the cable company ever since news of its talks to buy NBCU surfaced last month.
Maybe this is why Comcast rushed to knock down a story that said it bought NBC Universal from GE: It knew Wall Street would hate the idea.
Not included in the long list of investors betting $100 million on Twitter today: Union Square Ventures, one of the messaging service’s most prominent backers. What happened? Best guess: The $1 billion valuation priced the early investor out.
More upbeat–but not too ecstatic–chatter about the state of the Internet advertising market this morning from Wall Street: Barclays Capital analyst Douglas Anmuth is raising his estimates for Google, citing “improving macro conditions [and] a stronger ad market.” Other online advertising bulls: Investors, who have been pushing up Google stock for months, and CEO Eric Schmidt, who has declared that the worst is over.
Good news (potentially) for T. Rowe Price and the other investors plowing $100 million into the revenue-free start-up: The service’s users absolutely love clicking on ads, says a new study.
More from the post-Q&A Q&A: Yahoo CEO Carol Bartz says major investors like Gordon Crawford support her, and that she’s in the market for medium-sized M&A. Here’s what she had to say.
CEO Carol Bartz explains what Yahoo is getting for its $100 million ad campaign, its first global marketing effort, which was launched today in New York during Advertising Week.
Here’s the rundown of Bartz’s press conference on the branding blowout.
Is Twitter a billion-dollar company? It is now, according to its investors. People familiar with the company tell me it has raised around $50 million in a funding round that values the start-up, which has no real revenue to speak of, at about $1 billion.
Just how big a deal was a federal judge’s ruling Monday in the copyright-infringement fight between Veoh and Universal Music Group? Depends on who you ask, of course.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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