Julia Boorstin joined CNBC in May 2006 as a general assignment reporter. Later that year, she became CNBC's media and entertainment reporter working from CNBC's Los Angeles Bureau. Boorstin covers media with a special focus on the intersection of media and technology. In addition, she reported a documentary on the future of television for the network, "Stay Tuned…The Future of TV."
Boorstin joined CNBC from Fortune magazine where she was a business writer and reporter since 2000, covering a wide range of stories on everything from media companies to retail to business trends. During that time, she was also a contributor to "Street Life," a live market wrap-up segment on CNN Headline News.
In 2003, 2004 and 2006, The Journalist and Financial Reporting newsletter named Boorstin to the "TJFR 30 under 30" list of the most promising business journalists under 30 years old. She has also worked for the State Department's delegation to the Organisation for Economic Co-operation and Development (OECD) and for Vice President Gore's domestic policy office.
She graduated with honors from Princeton University with a B.A. in history. She was also an editor of The Daily Princetonian.
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Media Giant CBS swung to a $12.5 billion dollar loss in the third quarter after taking a massive $14.1 billion non-cash charge, for assets and goodwill lost due to the financial crisis. But CBS shares rose through the day, CBS closing up, investors apparently relieved that CEO Sumner Redstone reiterated that it will continue to pay its dividend.
With Disney's fourth quarter and full-year earnings coming up on November 6th the company is in the spotlight: can it sustain its growth and the premium its stock is trading through the financial crisis and consumer pullback?
Carl Icahn's recent increased investment in Lions Gate shares isn't the only news resulting from the company's low stock price. On October 10 the stock dipped below $6, triggering a margin call by Merrill Lynch for Vice Chairman Michael Burns, selling 672,000 shares of his stock, 49 percent of his stake in the company, recorded in a Form 4 filed on October 14.
This Sunday the Screen Actors Guild's board of directors agreed to ask a federal mediator help with negotiations with the film and TV studios, which could get the producers guild (the AMPTP) and SAG to sit down for their first formal talks since their contract expired on June 30.
The credit crunch is hitting the whole media sector — and hard. Two media moguls in particular, Sumner Redstone and Rupert Murdoch, have seen their firms' stock prices hammered. But they're finding themselves in diverse spots and they're spinning their situations quite differently.
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