Cuban president Raúl Castro thanked President Obama for“ a new chapter” but reaffirmed that restored relations did not mean the end of Communism.» Read More
On the heels of News Corp doubling the cost of his tabloid, the New York Post -- which is bleeding $70 million dollars annually -- Rupert Murdoch is looking for a plan. The mogul is gathering his top news executives in his Northern California Ranch next week for a three-day confab on how to transition his newspaper empire to the digital age.
Former General Electric chief Jack Welch said it was clear the management of New York Times Co. had "no interest" in selling its Boston Globe newspaper.
In a sign that the New York Times may be trying to appease investors who have criticized it, the newspaper publisher invited Morgan Stanley money manager Hassan Elmasry and another large shareholder, T. Rowe Price Group, to make presentations to its board of directors late last month, The Wall Street Journal reported.
The New York Times said it sold its broadcast media group for $575 million to Oak Hill Capital Partners in order to concentrate on its newspaper business.
I jinxed myself. That closing statement in my last posting about things quieting down on the beat: fuggedaboutit. Yesterday and today, "The New York Times" ran above-the-fold, front-page stories on Lilly's marketing of Zyprexa. It's the company's top-selling drug and its biggest profit-maker -- analysts estimate the schizophrenia/bipolar disorder drug is responsible for one-third to as much as one-half of the company's bottom line.
Turning a new page on a story buzzing around Wall Street this week--could the New York Times company go private? A BusinessWeek article says former AIG chief Hank Greenberg --who is linked to the rumors--is just looking for some attention. On this morning’s "Squawk Box" Carl Quintanilla spoke with Jon Fine--Media Columnist for BusinessWeek.