A judge barred Aereo from transmitting the programs of TV broadcasters as they are being shown, blocking its bid to operate like a cable system.» Read More
Sumner Redstone, the 84 year old chairman and controlling shareholder of Viacom and CBS, is negotiating a settlement with his 52 year old daughter Shari under which she would step down as a director of both CBS and Viacom and relinquish her roughly 20% stake in National Amusements, the holding company that owns a controlling stake in both CBS and Viacom.
As the network TV upfront ad sales period comes to an end -- the numbers are surprisingly strong-- back up into the range of $9 billion in advertising revenues, by some estimates up 3% over last year. ABC and CBS are pretty much done with their upfront ad deals, with ABC snagging the biggest price increases per rating point, up 8.5% to 10%. (This means that ratings aren't necessarily up, but advertisers are paying more for lower ratings.)
Viacom and CBS shareholders are better off since the company split a year and a half ago, Sumner Redstone told CNBC's Maria Bartiromo. "I would do it again and over and over again and shareholders are definitely better," said Redstone, who remains executive chairman of both companies.
A transcript of a CNBC interview with Viacom and CBS Chairman Sumner Redstone aired on June 6, 2007 during "Closing Bell."
Internet television service Joost named former Cisco senior executive Mike Volpi as its new chief executive on Tuesday, choosing a telecom veteran to lead the company as it courts big media to show programming on its site.
YouTube said on Sunday it has reached a revenue-sharing deal with Hearst-Argyle Television whereby local TV stations will be paid when users of the video-sharing site watch their programming.
The parent of MySpace is buying the media-sharing site Photobucket for about $300 million, bringing together two of the Internet's most popular hangouts.
CBS said it bought Last.fm, the online music service that allows fans with similar tastes to connect, for $280 million in a bid to attract young audiences.
The stock of DaimlerChrysler may continue the rise that began last year, freed from the burden of Chrysler, Barron's reported in its May 21 edition.
DaimlerChrysler will use the repayment of intercompany loans to reduce its debt sharply once the sale of its U.S. arm Chrysler closes, Chief Financial Officer Bodo Uebber told a newspaper.
XM Satellite Radio Holdings said it suspended the ribald radio show "Opie & Anthony" for 30 days about one week after a guest fantasized about raping Condoleezza Rice and Laura Bush.
In TV's worst spring in recent memory, an alarming number of Americans drifted away from television the past two months: More than 2.5 million fewer people were watching ABC, CBS, NBC and Fox than at the same time last year, statistics show.
The S&P 500 index closed above the 1,500 level for the first time in nearly seven years but overall gains were modest amid concern the market may be reaching a top. "There is a lot of good news out there but we caution investors that it has been quite a while since a pullback in the stock market," said Alan Skrainka, chief market strategist at Edward Jones. "That concerns us a little bit."
Media company CBS said its first-quarter earnings fell, but revenue climbed from the same quarter last year, after a tax charge related to the sale of radio stations hit the company’s bottom line.
Many of you know that I labored for a couple years to write the book, "First in Thirst: How Gatorade Turned the Science of Sweat into a Cultural Phenomenon," so I'm quite informed about the beverage industry.Yesterday, trade publication "Beverage Digest" reported that Coke was in serious talks to buy Glaceau, maker of Vitaminwater. The report isn't surprising. Coke finally knows, after being arrogant for too many years, that no matter how many Diet Cokes with vitamins they make (OK, maybe Coke Zero is a small exception), it's really all about the non-carbonated business if they care at all about growth.
Every year the TV networks gather with advertisers at Radio City Music Hall in New York in mid-May. The TV nets trot out their new shows, trying to lure advertisers with big parties and big promises of big hits, everyone hoping to hit the next "Friends." NBC starts off the upfronts on May 14 and I'll be there.
At its "First Look" presentation to advertisers Tuesday -- like the TV Networks ad upfronts -- AOL announced five web broadband deals. Randy Falco presented partnerships with Dreamworks Animation, Ellen, and reality TV guru-producer, Mark Burnett. These big announcements designed to draw advertising dollars, promising advertisers better metrics on who's watching what, than you can get from TV ads.
Web search leader Google has broken into radio with a multi-year advertising sales agreement with the largest U.S. broadcaster, Clear Channel Radio, the companies said on Sunday.
Tonight, the masters of Wall Street are going face to face with some of the best business school students in the country. Students from Indiana University, Villanova, MIT and USC are bringing their A-game via the webcam.
When advertisers ran from Don Imus, the die was cast: MSNBC and CBS pulled the plug on his show. But the question remains: did the sponsors show leadership in making their decisions to cancel ad spots -- or was it a case of cut and run? Jeffrey Sonnenfeld, senior associate dean at the Yale School of Management, and James Post, corporate governance and ethics professor at the Boston University School of Management, told "Power Lunch" viewers that the sponsors did the right thing -- and will do it again in the future.