It’s official: Scripps Networks Interactive has won the Travel Channel auction. In a deal that values the channel at $975 million, Scripps will acquire a majority interest in the property while current owner Cox retains a 35 percent stake. News Corp., among others, had been bidding for the channel.
Did Rupert Murdoch wait way too long to fix MySpace? It’s easy to get that impression from the News Corp. earnings call today.
The takeaway: The site is losing traffic and money and is going to get at least $100 million less from Google than it once thought. “It’s a work in progress,” News Corp. says, over and over again.
Rupert Murdoch and company aren’t exactly celebrating, but they did provide a better earnings number than Wall Street expected. They can thank Fox News, and yet another “Ice Age” movie. Not helping the cause: The company’s broadcast TV and newspaper properties. Not very relevant: MySpace, et al.
Would you pay $30 a month to watch TV via iTunes?
That’s the pitch Apple has been making to TV networks in recent weeks. The company is trying to round up support for a monthly subscription service that would deliver TV programs via its multimedia software, multiple sources tell me. The industry finds this idea both tempting and terrifying.
News Corp. is reportedly interested in purchasing the Travel Channel from Cox for something like $800 million. Here’s one way to help pay for a small piece of that deal: Sell off Fuel TV, its modest surf, skate and snowboard-themed cable channel.
The layoff ax swings close to home today: The Wall Street Journal is closing its Boston bureau, which will result in up to nine job losses. News Corp. which owns the Journal as well as this site, has been pouring resources into the paper, but the Journal certainly isn’t immune to the pressures that all print publishers are under these days
The man who helped shape CBS’s standalone Web video strategy explains himself, for the record.
Microsoft bought ad exchange company AdECN more than two years ago. And unless you’ve been paying very close attention, that’s the last you ever heard of it.
This should finally change next year. People familiar with Microsoft’s plans say the company intends to open the exchange for business in January, which will allow online ad buyers and sellers to match up in real time. That will put it several months behind Google, which opened up its ad exchange in September.
No surprise that Americans are dropping their newspaper subscriptions, as a new batch of numbers from the Audit Bureau of Circulations showed yesterday. But before you file this under “death of newspapers,” something to ponder for a second: This might not be the worst news in the world.
Is Hulu putting up a pay wall around its Web TV site? Nope.
Does Hulu want to charge people to watch Web TV? Yes.
Confused? Don’t be.
Here’s the explanation about what’s going on at the premium online video site.
Is there anything you people won’t watch online? Doesn’t look like it, based on the newest Web video numbers from Nielsen. While stats show that the overall size of the Internet video audience has increased by 12 percent in the last year, the amount of video consumed has shot up 25 percent.
Well look at that: EMI Music Group, which had been working on a licensing deal with music start-up Grooveshark but ended up suing it instead, now has a licensing deal with Grooveshark after all.
Employees at News Corp.’s MySpace have been waiting to find out who their new ad sales boss will be. And, here she is: Nada Stirratt, who until today was running digital sales for Viacom’s MTV Networks.
Stirratt has her work cut out for her. The struggling social networking site, HQed in Beverly Hills, has been trying to reboot its image, spur innovation in its product and, most of all, pull itself out of a too-long slump, even as longtime rival, Palo Alto, Calif.-based Facebook, has seen explosive growth.
Steve Ballmer says he doesn’t expect to do much search-related M&A, which makes sense since there’s little left to buy. But he may be willing to pay for search. Ask AOL.
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.
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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