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For the week ending Friday, July 11, 2008, the U.S. markets finished in bear market territory with the Dow dipping below 11,000 during intraday for the first time in 2 years.
Google CEO Eric Schmidt, along with co-founders Larry Page and Sergey Brin sat down to talk to journalists at the Allen and Co. conference in Sun Valley for an hour and fifteen minute no-holds barred question and answer session.
When media moguls and tech startup CEOs gather for casual, culture-clashing sessions in Sun Valley, I can't help but marvel at the remarkable mix of styles. There's nothing like catching a CEO who feels safe in his pin stripes awkwardly sporting bermuda shorts.
The tech titans and media moguls schmoozed and chatted through the first full day of meetings at the Allen + Co. Conference. It was a quiet day in terms of deal buzz; perhaps largely because the Yahoo folks haven't arrived yet.
If you ask Miller Tabak's David Joyce about media stocks, it might be easier to ask which ones he does not recommend than which ones he does: He has "buy" recommendations on no fewer than 21 media stocks...
This event has sparked some of the biggest media deals, from Google's acquisition of YouTube to the Disney-CapCities merger in 1996. This year there's no avoiding the fact that the economy is in a downturn and the credit markets are tight, but it's not keeping the big names from rolling in.
Cramer makes the call on viewers' favorite stocks.
According to BoxOfficeMojo, here are the ten highest grossing Fourth of July weekend (3-day) movie openings of all-time as of 2007.
Lehman Brothers analyst Anthony DiClemente returned from July 4 weekend with a negative outlook on the media giants, downgrading the entire sector to negative. DiClemente is concerned that digital distribution changes will "disrupt the core economic models of the majority of film and TV content."
It was a busy holiday weekend for NBC Universal, CNBC's parent company. Along with private equity groups Bain Capital and Blackstone, it was finalizing its acquisition of the Weather Channel. The three are paying Landmark Communications a reported $3.5 billion, more than half in equity, split between the three.
Yahoo shares rose more than 6 percent Wednesday as The Wall Street Journal reported Microsoft has talked to other media companies about teaming up to buy Yahoo’s search business.
I'll say from the outset that I have great respect for the Wall Street Journal. But I, along with a number of folks following the Yahoo/Microsoft will-they-or-won't-they drama are wondering what the point is of today's splashy, front-page tome purporting to break new ground about a new deal to grab a chunk of the company.
Microsoft is preparing a new bid for Yahoo's search business and has approached other media companies about joining it in a deal, the Wall Street Journal reported.
Hollywood is looking at another intense third act; the tough guys are pulling out the big guns. The Screen Actors Guild is the last of the entertainment industry's guilds to renegotiate its contract, and let's just say, it's not looking like a fairytale ending.
It was an ugly first half for the stock market and now that the goal posts have been moved for the economic recovery, expect a rough game in the second half.
Animation giant Pixar scored its ninth consecutive No. 1 Sunday with its robot love story "WALL-E," while Angelina Jolie achieved a personal best with her violent assassination thriller "Wanted." "WALL-E," bolstered by near-unanimous critical praise, sold an estimated $62.5 million of tickets in its first three days, said Pixar's Walt Disney Co parent..
Media stocks have tanked. A chart of the media conglomerates performance over the past 12 months is flat-out ugly. They're all in the red, and all but Disney have underperformed the Dow, and it's still down about five percent over the past 12 months.
There are a lot of downdrafts in the media-business atmosphere right now, but Tuna Amobi of Standard and Poor's has "strong-buy" ratings on a couple of high-profile companies.
Newspapers are breaking records -- and it's not a good thing. A double-digit drop in newspaper ad revenue, the third consecutive year of declines, and record margin contraction makes this the industry's worst year ever. The newspaper industry's ad revenue is down 12 percent this year, on top of last year's already dismal 8 percent drop.
The gap between Bollywood and Hollywood is becoming increasingly narrow. Earlier this week I blogged about how Steven Spielberg is in talks with Indian Media Giant Reliance ADA group to finance an independent studio.