Hearst achieved record revenue and profit in 2013, and recorded its fourth consecutive year of revenue and profit growth since the recession of 2008–2009.
Strong year-over-year performances came from our cable networks, A+E Networks and ESPN; Fitch Ratings; healthcare businesses First Databank and MCG, formerly Milliman Care Guidelines, acquired last December; and the newspaper group. Our U.S. magazines grew profit in 2013, and our television stations exceeded expectations and are poised for a strong 2014 with the return of the Olympics and congressional and gubernatorial elections. Our ventures team scored a very strong return on its investment in digital marketing company HootSuite.
Hearst’s outstanding performance reflects the quality of what our talented colleagues create every day for the screen and the page, and the strong and innovative partnerships we forge with our clients around the world. Our profit achievement also reflects the hard work of so many who constantly look for more efficient ways to do business without compromising the quality of what we offer customers.
Our business mix continues to evolve. Today, roughly 60 percent of our revenue comes from sources other than advertising revenue, including carriage fees for our cable networks and television stations, business-to-business and consumer subscription revenues, and marketing services fees. More than 20 percent of our revenue is derived from outside the U.S.
On June 1, our executive vice chairman, Frank Bennack, ended his second tour of duty as our chief executive. A few weeks later, he and I spoke with our chairman, Will Hearst, and the rest of our board members about the fundamental principles of Frank’s highly successful 30-year run and how they form the basis of the company’s future growth strategy.
We boiled them down to four, not necessarily in order of importance:
I. Continue Remaking Our Business Mix for Growth
II. Strengthen Our Core Portfolio
III. Become a More Digital Company
IV. Secure and Retain Top Talent
I’m going to discuss each of these in the context of what we accomplished in 2013 and what we will continue to do in the years ahead.
I. Continue Remaking Our Business Mix for Growth
A hallmark of Frank’s tenure has been the continued allocation of capital to the sectors of the media and information landscape that have offered the best prospects for growth. While this is of course harder than it sounds, we are confident that there are two areas where we have shown particular skill and where the underlying growth prospects are quite strong: business media and entertainment.
Hearst Business Media, led by Rich Malloch, was active in 2013. In December, we announced the acquisition of 85 percent of Homecare Homebase, a leader in the field of providing software, data and analytics to the fast-growing homecare and hospice industries. Homecare Homebase, founded and led by CEO April Anthony, becomes the fourth significant company in the Hearst healthcare portfolio, along with First Databank, Zynx Health and MCG. In its first full year under our ownership, MCG, led by President and CEO Jon Shreve, outperformed our optimistic expectations and finished the year with profits up more than 25 percent. First Databank acquired Design Clinicals, a company that helps hospitals reconcile the drugs a new patient is already taking with those the hospital seeks to prescribe. Under President and CEO Paul Taylor, our 50 percent–owned Fitch Ratings business acquired 7city Learning, a financial services industry training company based in London that we’ve renamed Fitch Learning. Meanwhile, our two principal automotive businesses kept their amazing profit-growth streaks alive: For National Auto Research/Black Book, headed by Tom Cross, it was its 22nd straight year of profit growth and for Motor Information Systems, under Kevin Carr, its 20th straight year.
At our cable networks, A+E
Networks announced that it will turn its BIO channel into a new lifestyle channel called FYI, bringing A+E’s singular reputation for creativity to such lifestyle subjects as food, home and travel. ESPN, led by President John Skipper, announced the creation of a new cable channel with the hugely successful SEC sports conference, featuring such powerhouse college sports teams as Alabama, Auburn and Missouri. And ESPN has secured exclusive coverage of the US Open starting in 2015, further enhancing its continuing coverage of the four major professional tennis tournaments.
Our partnership with prolific television producer Mark Burnett, ONE THREE MEDIA, also had a great 2013 on the strength of its productions The Voice on NBC and Shark Tank on ABC, as well as the success of VIMBY, a 50 percent–owned ONE THREE venture that makes commercial video for key partner companies such as Wal-Mart. Mark and his wife, Roma Downey, also partnered with us to produce HISTORY’s hugely successful series The Bible.
II. Strengthen Our Core Portfolio
We continue to invest in our longtime franchise businesses of local television, magazines and newspapers. We supported our highly successful Omaha television station KETV by acquiring the iconic downtown train station in Omaha and beginning the process of turning it into KETV’s new home. We also became the first TV station group to partner with its network to launch TV Everywhere streaming applications when we announced our partnership with Disney’s ABC network in May.
Our magazine group under David Carey launched an ambitious upgrade of all our Web and mobile products, beginning with leaders Cosmopolitan.com and ELLE.com, that will be fully unveiled in early 2014. Cosmopolitan continued to develop its branded products with the announcement of a conference business in partnership with the William Morris Endeavor agency. And Seventeen announced an exciting partnership in the fast growing world of streaming video by teaming with Dreamworks’ AwesomenessTV venture on a new streaming network for the teen market.
And Hearst Newspapers President Mark Aldam’s investment in the group’s LocalEdge suite of digital marketing services products for small business customers around the country continues to bear fruit as the initiative turned solidly profitable in 2013 with revenue more than doubling. More than 40 other media entities have also signed on to sell the LocalEdge product suite in their markets, including the Los Angeles Times, Chicago Tribune, Dallas Morning News, New York Daily News and Newsday. And LocalEdge just signed its first international customer, Australia’s Fairfax newspaper group.
III. Become a More Digital Company
To truly succeed we can’t just offer our customers digital products; we have to become a more digital company in the way we operate our businesses every day. Under the leadership of Chief Technology Officer Phil Wiser, we launched an audience exchange to connect, for the first time, our clients to the more than 100 million unique users who visit Hearst digital products every month. We created Digital Studios to allow for fast prototyping, building and testing of new digital products. We introduced a new video platform that allows any of our journalists around the world to shoot and edit on their mobile phones. And we convened hackathons in our New York headquarters for our fashion magazine brands and on the campus of the University of Michigan for our automotive brands.
IV. Secure and Retain Top Talent
We are dedicated to developing and promoting our key talent from within the organization wherever possible. But as the world changes at such a rapid pace, it is also incumbent upon us to reach out to new sources of talent to gain new perspectives and new skills. We executed on both of those efforts in 2013.
Beginning with internal promotions, David Barrett completed at year-end an outstanding 15-year run as CEO of Hearst Television and handed over leadership to his deputy, Jordan Wertlieb, president, and himself a 20-year veteran of the group. David will remain very active as a Hearst trustee and board member. Mike Hayes, general manager at our Pittsburgh station, WTAE-TV, came to New York as an SVP and group head.
At our A+E Networks, CEO Abbe Raven became chairman after eight incredibly strong years as CEO and having run the A&E, HISTORY and BIO channels prior to becoming CEO in 2005. Nancy Dubuc, a 15-year veteran of A+E, became CEO. Nancy also named four people as general managers of our principal networks: David McKillop at A&E, Dirk Hoogstra at HISTORY, Rob Sharenow at Lifetime and Jana Bennett at the forthcoming FYI and Lifetime Movie Network.
New leadership at our Entertainment & Syndication group also came from within, as the deputy in that group, George Kliavkoff, partnered with the company’s chief creative officer, Neeraj Khemlani, himself a former deputy head of E&S, to become new co-presidents.
Dr. Greg Dorn, a 14-year veteran of our medical businesses, became executive vice president and deputy group head of Hearst Business Media, with primary responsibility for our healthcare businesses under Rich Malloch. Two top executives at our First Databank became executive vice presidents there, Bob Katter and Chuck Tuchinda.
We also successfully went outside of the company for top talent. Hearst Magazines remade its digital leadership team with three major new hires: Troy Young, former president of Say Media, as president of digital; Todd Haskell, former head of digital advertising at The New York Times, as head of digital advertising; and Mike Smith, former president of Forbes.com, to lead our innovation efforts marrying technology and advertising sales.
Private equity executive Jeff Johnson, a former publisher of the Los Angeles Times, became publisher of the San Francisco Chronicle, and Nancy Barnes, who led the Minneapolis Star Tribune to a Pulitzer Prize last year, became editor of the Houston Chronicle. Mike DeLuca, a Groupon sales leader, became president of LocalEdge.
Dr. Justin Graham, formerly chief medical information officer at NorthBay Healthcare in California, became head of innovation for our healthcare operations, and David Vogler left digital ad agency The Wonderfactory to become executive creative director of Hearst Digital Studios.
All our operating groups benefit from the great support provided by our corporate teams: finance, led by Chief Financial Officer Mitch Scherzer; legal, led by Chief Legal and Development Officer Jim Asher and General Counsel Eve Burton; and communications, headed by Chief Communications Officer Debra Shriver.
We head into 2014 with a great deal of optimism due in no small measure to the innovation and dedication each of you show to Hearst each day. On behalf of our chairman, Will Hearst, and executive vice chairman, Frank Bennack, I want to thank you for all you do to make this the great company that we are all so fortunate to serve.
This Press Release is courtesy of Hearst.com
2 November 2017 – Justice must be done for the murder of journalists, who perform important functions in taking forward fundamental freedoms and bolstering the strength of societies, a senior United Nations official said Thursday, marking the International Day to end impunity for crimes against them.
“Justice is a cornerstone of a free society. It dissuades those who threaten freedom of expression and emboldens those who stand to defend it,” said Irina Bokova, the Director-General of the UN Educational, Scientific and Cultural Organization (UNESCO), in her message for the International Day, observed annually on 2 November.
The date was chosen in commemoration of the assassination of two French journalists in Mali on 2 November 2013.
“This is why injustice against journalists is so costly for all societies,” she added.
From 2006 to 2016, at least 930 journalists were killed. In 2016 alone, some 102 journalists were killed in the line of duty. Worryingly, more than nine out of 10 cases, the perpetrators are never brought to justice.
“We must ensure justice is done for every journalist killed,” she declared.
Journalists must be defended through concerted action by Governments, supported by the UN, working with all relevant actors, from international regional organizations, judiciaries and media to private companies, academia and civil society.
This partnership for action was embodied UNESCO’s recent Multi-Stakeholder Consultation, held in Geneva to strengthen implementation of the UN Plan of Action on the Safety of Journalists and the Issue of Impunity.
On Wednesday in Geneva, two UN experts warned that the world is witnessing a “downward spiral of attacks” on journalists, spurred on by hate speech even from senior politicians.
Speaking on the eve of International Day, the Special Rapporteurs on arbitrary, summary and extrajudicial executions, Agnes Callamard, and on freedom of expression, David Kaye, said that when authorities fail to follow up such attacks with independent and impartial investigations, the killers and their allies achieve their objectives.
The attacks need to stop, so too does the public demonization of reporting and specific media outlets and reporters by political leaders at the highest levels, they added.
New York, NY, – December 15, 2016 – Twenty-First Century Fox, Inc. (“21st Century Fox”) today announced that it has reached agreement with Sky plc (“Sky”) on the terms of a recommended pre-conditional cash offer by 21st Century Fox for the fully diluted share capital of Sky which 21st Century Fox and its affiliates do not already own (the “Acquisition”).
Under the terms of the Acquisition, Sky shareholders will be entitled to receive for each Sky share £10.75 in cash.
The price of £10.75 per Sky share represents:
• a premium of approximately 40 per cent. to the closing price of £7.69 per Sky share on December 6, 2016, being the last business day before the date on which an initial proposal was received from 21st Century Fox by Sky;
• a premium of approximately 36 per cent. to the closing price of £7.90 per Sky share on December 8, 2016, being the last business day before the start of the offer period; and
• a multiple of approximately 11.4 times Sky’s adjusted earnings before interest, tax, depreciation and amortisation of £2,178 million for the twelve month period ended June 30, 2016.
21st Century Fox currently anticipates that the Acquisition will complete before the end of 2017. Under the terms of the Acquisition, if the Effective Date (as defined in the UK Announcement) has not occurred on or before December 31, 2017, Sky shareholders shall be entitled to receive a special dividend of 10 pence per Sky share, payable in 2018.
The price of £10.75 per Sky share shall be reduced to the extent that:
• the dividend in respect of the six months ending December 31, 2017 exceeds 13.06 pence per Sky share; and
• the dividend in respect of the year ending June 30, 2018 exceeds 21.8 pence per Sky share.
Sky will not pay any dividends in 2017.
The Cash Consideration implies a value of approximately £11.7 billion ($14.8 billion based upon an exchange rate of USD:GBP 1.27) for the fully diluted ordinary share capital of Sky (excluding the Sky shares already owned by 21st Century Fox and its affiliates).
The independent committee of Sky intends to recommend unanimously that unaffiliated Sky shareholders vote in favour of the Acquisition.
Commenting on the Acquisition, 21st Century Fox said:
“As the founding shareholder of Sky, we are proud to have participated in its growth and development. The strategic rationale for this combination is clear. It creates a global leader in content creation and distribution, enhances our sports and entertainment scale, and gives us unique and leading direct-to-consumer capabilities and technologies. It adds the strength of the Sky brand to our portfolio, including the Fox, National Geographic and Star brands.”
“Sky is a creative, commercial, and consumer powerhouse delivering its own content to customers across all platforms. Sky is the #1 PayTV brand in all its key markets, with an exciting growth runway in each. The enhanced capabilities of the combined company will be underpinned by a more geographically diverse and stable revenue base. It will also create an improved balance between subscription, affiliate fee, advertising and content revenues. This combination creates an agile organization that is equipped to better succeed in a global market.”
The Acquisition is subject to a number of pre-conditions and conditions as set forth in the UK Announcement released today in accordance with Rule 2.7 of the UK City Code on Takeovers and Mergers, including the receipt of regulatory approvals and the approval of Sky’s shareholders.
This announcement should be read in conjunction with the full announcement, which includes additional information about the terms of the Acquisition, the Co-operation Agreement and the Bridge Credit Agreement described below, which was issued in accordance with Rule 2.7 of the UK City Code on Takeovers and Mergers, and which can be found on our website at https://www.21cf.com/investor-relations/possible-offer-sky-plc (the “UK Announcement”).
21st Century Fox entered into the Co-operation Agreement with Sky pursuant to which 21st Century Fox and Sky agreed to take certain steps to facilitate completion of the Acquisition. The Co-operation Agreement provides for a £200 million break fee payable by 21st Century Fox in the event that regulatory approvals are not obtained prior to the longstop date described in the agreement.
To provide financing in connection with the Acquisition, 21st Century Fox and its 100% owned subsidiary 21st Century Fox America, Inc. entered into a Bridge Credit Agreement with Goldman Sachs Bank USA, Deutsche Bank Securities Inc. and JPMorgan Chase Bank, N.A., as joint lead arrangers and joint bookrunners. The Bridge Credit Agreement provides for borrowings of up to £12.2 billion.
About 21st Century Fox
21st Century Fox is the world’s premier portfolio of cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe. Reaching more than 1.8 billion subscribers in approximately 50 local languages every day, 21st Century Fox is home to a global portfolio of cable and broadcasting networks and properties, including FOX, FX, FXX, FXM, FS1, Fox News Channel, Fox Business Network, FOX Sports, Fox Sports Network, National Geographic Channels, STAR India, 28 local television stations in the U.S. and more than 300 international channels; film studio Twentieth Century Fox Film; and television production studios Twentieth Century Fox Television and a 50 per cent. ownership interest in Endemol Shine Group. The Company also holds approximately 39.1 per cent. of the issued shares of Sky, Europe’s leading entertainment company, which serves 22 million customers across five countries. For more information about 21st Century Fox, please visit www.21CF.com.
About Sky
Sky is Europe’s leading entertainment company. As at 30 June 2016, Sky served approximately 22 million customers across five countries: Italy, Germany, Austria, the UK and Ireland.
Sky has annual revenues of approximately £12 billion and is Europe’s leading investor in television content with a combined programming budget of over £5 billion. Sky employs more than 30,000 people as at 30 June 2016 and supports an estimated 130,000 jobs across Europe.
The majority of Sky’s revenue is derived from retailing pay television services both in the home and on the move. In the UK and Ireland, Sky also offers customers broadband and telephony products, including internet via DSL, fibre and WiFi, and has recently established a mobile offering. Sky retails TV services to commercial customers and operates adjacent businesses which include wholesaling Sky’s channels to other providers and selling advertising on Sky’s own and partner channels. Sky also sells both Sky originated television programmes and third party television programmes internationally through ‘Sky Vision’.
New York, NY – The Board of 21st Century Fox (NASDAQ: FOXA, FOX) today announced a series of senior management changes, which will take effect July 1,
2015.
Rupert Murdoch, the Company’s founder and Chairman and CEO, together with Lachlan Murdoch, currently Co-Chairman, will become Executive Co-Chairmen. Chase Carey, the Company’s Deputy Chairman, President and COO since 2009, will become the Executive Vice Chairman and serve in that role through June 30, 2016. James Murdoch, currently Co-Chief Operating Officer, will become Chief Executive Officer.
In conjunction with these changes, the Company’s corporate functions, and its global television and film operations will now jointly report to Lachlan and James Murdoch.
Rupert Murdoch said: “It has always been our priority to ensure stable, long term leadership for the Company, and these appointments achieve that goal. Lachlan and James are each talented and accomplished executives and together, we, as shareholders and partners, will strive to take our company to new levels of growth and opportunity at a time of dynamic change in our industry.”
He added: “I can’t thank Chase Carey enough for his friendship, counsel and leadership over the past decades. He will be actively engaged in supporting Lachlan and James as they step in to their new roles.” Chase Carey said: “I am grateful to Rupert for giving me the opportunity of a lifetime and truly believe there isn’t a Company out there that’s more exciting, with more growth potential, than 21st Century Fox. I look forward to continuing to work with Rupert to support Lachlan and James in their new positions.”
Lachlan Murdoch and James Murdoch, in a joint statement, said: “We are both humbled by the opportunity to lead, with our father and the talented team of executives at 21st Century Fox, this extraordinary company. We are grateful to Chase for being the leader and partner that he has been, and we are both delighted that his wisdom and sure handedness will continue to serve 21st Century Fox. We are also grateful to the Board for providing us the opportunity to lead this great company.”
“Most importantly, we each look forward to working with the entire team of creators, executives, artists and all of our colleagues that make up our global businesses, to steer the Company into the future, and to drive continued value for our shareholders.”
Rod Eddington, Lead Director, 21st Century Fox, said: “The Board has long been focused on succession and we’re fortunate to have two very talented executives in Lachlan and James to take this Company into the future. Working in tandem with Rupert, we’re confident their partnership and stewardship will give this business real momentum for many years to come. We are also deeply grateful to Chase Carey for his many years of exceptional leadership and his agreement to continue his contributions through his new position.”
EXECUTIVE BIOGRAPHIES
LACHLAN MURDOCH
Lachlan Murdoch is currently Co-Chairman, a position he has held since March 2014. Effective July 1, 2015, Mr. Murdoch, 43, will serve as Executive Co-Chairman of 21st
Century Fox. Mr. Murdoch has spent the past two decades building, operating and investing in many of the world’s most prominent television and publishing businesses, and also currently serves as Co-Chairman of News Corp, Executive Chairman of NOVA Entertainment and Executive Chairman of Illyria Pty Ltd. He is a Director of Sydney’s Museum of Contemporary Art and a Trustee of the Commando Welfare Trust. Mr. Murdoch previously served as NonExecutive Chairman of Ten Network Holdings.
Prior to his current role, Mr. Murdoch has served as Co-Chairman of 21st Century Fox beginning in March 2014 and has served the Company as a member of the Board of
Directors since 1996, as well as in a number of senior executive roles from 1994-2005. From 2000 – 2005, Mr. Murdoch served as Deputy Chief Operating Officer of 21st Century Fox (previously known as News Corporation), a role in which he was directly responsible for the Company’s U.S. television stations group and publishing assets.
As part of his duties as Deputy Chief Operating Officer, Mr. Murdoch was Chairman of Fox Television Stations (FTS) and Publisher of the New York Post, and also oversaw
HarperCollins and the Company’s lines of business in Australia, including REA, Australia’s leading online real estate business.
He led the Company’s purchase of a controlling stake in REA, which began with an approximate $1 million cash investment and resulted in a corporate asset that is currently valued at more than $3 billion.
At FTS, Mr. Murdoch oversaw the Company’s 35 owned-and-operated television stations, where he raised the bar on local news coverage across the nation, increasing the total number of local news hours across the group to more than 850 per week.
At the New York Post, he overhauled the tabloid and grew its circulation by more than 40 percent. During his tenure, the Post became the nation’s fastest-growing newspaper and the seventh largest in the United States. In 2005, Mr. Murdoch founded Illyria Pty, a successful private investment company. In 2009, Illyria acquired 50 percent of DMG Radio, a network of radio stations, which later expanded to include pay television assets and was renamed NOVA Entertainment. After Mr. Murdoch became its Chairman in 2009, NOVA grew exponentially, nearly doubling in value during the first three years of his tenure, while its EBITDA rose more than threefold from $16M in 2009 to $52M in 2014. In 2012, Illyria purchased the remaining 50 percent and, under Mr. Murdoch’s leadership, NOVA Entertainment became Australia’s leading network of FM stations. Mr. Murdoch holds a B.A. from Princeton University.
JAMES MURDOCH
James Murdoch is currently Co-Chief Operating Officer of 21st Century Fox, and will serve as the Company’s Chief Executive Officer effective July 1, 2015. Mr. Murdoch, 42, has held a succession of leadership roles over his nearly two-decade career with the Company, culminating in his appointment to CEO. Over that period, he has
been a key driver of the Company’s domestic and international expansion, having most recently served as Co-Chief Operating Officer, and previously as Chairman and CEO for
Europe and Asia, as well as Chairman of BSkyB, Sky Deutschland, and Sky Italia, the businesses that now comprise the pan-European Sky group. His significant operational
experience also includes tenures as CEO of both BSkyB and STAR, India’s number one entertainment broadcaster.
As 21st Century Fox’s Co-Chief Operating Officer, Mr. Murdoch had a broad purview across the Company’s global portfolio of businesses, and direct responsibility for its cable and broadcasting networks and properties, which reach more than 1.8 billion subscribers every day. From 2011 to 2014 he served as Deputy Chief Operating Officer and Chairman and CEO, International, and prior to that, Chairman and CEO, Europe and Asia since 2007.
Mr. Murdoch has played an integral role in a number of strategic transactions, including the separation of the former News Corp into two distinct Companies, the combination of the Endemol Shine Group joint venture, the acquisition of the YES Network, and, through the creation of Sky Deutschland and the combination of Sky Deutschland and Sky Italia and BSkyB, the creation of the European entertainment leader Sky plc.
During his tenure as BSkyB’s Chief Executive Officer (of which 21st Century Fox owns 39.1%) from 2003 to 2007, and its Chairman from 2007 until 2012, the Company
experienced transformative growth, amassing more than 10 million subscribers, and created a full-service residential media and telecommunications company.
Mr. Murdoch led 21st Century Fox’s partial acquisition of the former Premiere AG and from that the creation of Sky Deutschland, which was valued at €6.6 Billion upon its combination with BSkyB and Sky Italia in 2014. In addition, he led the restructuring of the Company’s European and Asian businesses between 2008 and 2010, including the separation of its Asian satellite television group, STAR, into India and ex-India operations, and the sale of the company’s Russian and Eastern European media holdings.
Mr. Murdoch became Chairman and Chief Executive Officer of STAR in 2000 and led the company’s turnaround and by 2003, the company established itself as the premier content and broadcasting company in India, South Asia and Taiwan. Prior to joining STAR, Mr. Murdoch held a variety of corporate roles at News Corporation between the time he joined the Company in 1996 and 2000, primarily focused on digital businesses.
Before joining the Company, Mr. Murdoch co-founded and chaired Rawkus Entertainment, a seminal Hip Hop independent based in lower Manhattan. Mr. Murdoch serves as a board member of 21st Century Fox and Sky, and of News Corp. In addition, he is a non-executive director of Yankee Global Enterprises, Vice Media, and a member of the Board of Trustees of the Harvard Lampoon and the Ghetto Film School.
He and his wife Kathryn founded their family foundation, Quadrivium, in 2014. Quadrivium supports a variety of initiatives involving natural resources, science, civic life, childhood health, and equal opportunity.
About 21st Century Fox
21st Century Fox is the world’s premier portfolio of cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe. Reaching more than 1.8 billion subscribers in approximately 50 local languages every day, 21st Century Fox is home to a global portfolio of cable and broadcasting networks and properties, including FOX, FX, FXX, FXM, FS1, Fox News Channel, Fox Business Network, FOX Sports, Fox Sports Network, National Geographic Channels, STAR India, 28 local television stations in the U.S. and more than 300 channels that comprise Fox International Channels; film studio Twentieth Century Fox Film; and television production studios Twentieth Century Fox Television and a 50% ownership interest in Endemol Shine Group. The Company also holds a 39.1% ownership interest in Sky, Europe’s leading
entertainment company, which serves 21 million customers across five countries. For more information about 21st Century Fox, please visit www.21CF.com.
The Association of American Publishers (AAP) today applauded the U.S. Court of Appeals for the Fifth Circuit’s decision in Netflix v. Babin unanimously affirming the district court’s grant of a preliminary injunction barring any further Texas state prosecution of Netflix over the film Cuties.
The Court held that sufficient evidence supported the district court’s finding that the District Attorney prosecuted Netflix in bad faith, writing “While states certainly have a legitimate interest in the enforcement of their criminal laws, they have no such interest when the enforcement of those laws is carried out in bad faith. ‘With respect to the interests of the State,’ we have said, ‘it by definition does not have any legitimate interest in pursuing a bad faith prosecution brought to retaliate for or deter the exercise of constitutionally protected rights.’”
The Court further held that “The balance of equities . . . favors Netflix. It has an obvious interest in the continued exercise of its First Amendment rights, and the State has no legitimate interest in a bad-faith prosecution.”
In June of this year AAP joined a broad coalition of representatives of public policy organizations, movie studios, Texas Broadcasters, newspapers, reporters, publishers, authors, and photographers in filing an amicus brief in support of free speech in the Fifth Circuit on behalf of Plaintiff-Appellee Netflix.
The brief raised critical free speech issues implicated by this case, highlighting the importance of addressing bad-faith prosecutions and vindicating First Amendment rights in federal court in a timely fashion; and the unconstitutional chilling effects of such criminal prosecutions on all speakers.
AAP’s amicus brief can be found here: https://publishers.org/news/public-policy-organizations-movie-studios-texas-broadcasters-newspapers-reporters-publishers-authors-and-photographers-file-amicus-brief-in-netflix-case-in-support-of-free-speech/
OTTAWA, ON, Oct. 18, 2021 /CNW/ – The Institute for Research on Public Policy (IRPP) is pleased to announce the launch of the Accenture Editorial Fellowship on the Future of the Public Service. The fellow, acclaimed journalist Kathryn May, will write for the IRPP’s award-winning digital magazine Policy Options.
The two-year journalism fellowship is generously sponsored by Accenture and will provide in-depth and independent coverage of the complex social, economic and technological challenges and opportunities that Canadian public servants are navigating today. These include the transition to digital government; post-pandemic shifts in workplace norms; the pursuit of equity, diversity, inclusion and decolonization; and the modernization of hiring and training.
“This editorial fellowship will fill an important gap in Canadian journalism and provide valuable insights for decision-makers. There are more than 300,000 people inside the federal public service, and Kathryn will be taking a close look at the pivotal work they’re doing to prepare our country for a host of emerging policy issues,” says Les Perreaux, editor-in-chief of Policy Options.
Kathryn May covered the federal public service for 25 years for the Ottawa Citizen and iPolitics, and as a contributor to the National Observer, Policy Options and others. She won a 2007 National Newspaper Award for her work.
Accenture’s established federal public service practice in Ottawa helps organizations build trust by leveraging advanced technologies to transform services for Canadians. From scaling cloud adoption and managing data, to building cyber resilience and reimagining the back office, Accenture helps government organizations accelerate their digital transformation with fresh thinking and innovative solutions.
“We are thrilled to support independent Canadian journalism in a subject area that is critical to the transformation of public services and the shaping of public policy,” says Mark Lambert, managing director and federal public service lead at Accenture. “Now more than ever, public service organizations must balance stability with speed to meet citizens’ expectations. Kathryn’s expert coverage will bring much needed attention to their challenges and achievements as they strive to become innovative, agile and embrace accelerating change.”
About the IRPP and Policy Options
Founded in 1972, the Institute for Research on Public Policy is an independent, national, bilingual, not-for-profit organization. The IRPP seeks to improve public policy in Canada by generating research, providing insight and informing debate on current and emerging policy issues facing Canadians and their governments. Policy Options is the award-winning digital magazine of the IRPP, publishing daily on issues of public policy from a variety of perspectives.
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer strategy and consulting, interactive, technology and operations services — all powered by the world’s largest network of advanced technology and intelligent operations centres. Our 624,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit www.accenture.com.
SOURCE Institute for Research on Public Policy (IRPP)
CONTACT: or interview requests, please contact Cléa Desjardins, 514-245-2139, cdesjardins@irpp.org or Susan Kirwin, 416-641-514, susan.kirwin@accenture.com
SEATTLE– (NASDAQ: AMZN)—Today, Amazon Publishing and Alloy Entertainment, a division of Warner Bros. Television Group, announced a digital-first imprint that will focus on young adult, new adult and commercial fiction. The new imprint, named Alloy Entertainment, will be part of Amazon Publishing’s Powered by Amazon program. Powered by Amazon enables publishers and authors to leverage Amazon’s global distribution and personalized, targeted marketing reach.
Today also marks the publication date for the imprint’s first three titles:
Imitation by Heather Hildenbrand, which follows Ven, the clone of a wealthy, 18-year-old named Raven. Imitations like Ven only leave the lab when their Authentics need them—to replace the dead, be an organ donor, or in Ven’s case, serve as bait when Raven’s life is threatened. It is Ven’s job to draw out Raven’s assailants, but she must decide if she is prepared to sacrifice herself for a girl she has never met.
Every Ugly Word by Aimee Salter, a coming-of-age story about a teenager named Ashley who sees her 23-year-old self when she looks in the mirror. Her older self has been through it all before, and helps Ashley survive torment from high school bullies, unrequited love for her best friend and a volatile relationship with her mom. But her older self also carries the scars of a terrible and imminent event in Ashley’s life that she’s powerless to stop.
Rebel Wing by Tracy Banghart, a sci-fi fantasy adventure set in the war-torn Dominion of Atalanta. For Aris, the fighting is worlds away from the safety of her seaside town until her boyfriend Calix is drafted into the military. When Aris herself is recruited to become a pilot for an elite search-and-rescue unit, she leaps at the chance, hoping to be reunited with Calix. But what starts as a mission driven by love turns into one of duty as Aris becomes a true soldier determined to save her Dominion…or die trying.
Alloy Entertainment acquired the books based on the unique voices of the authors and originality of the stories. The company worked closely with each of the writers throughout the publishing process in an effort to gain the widest possible readership. The books will be published under the Alloy Entertainment publishing banner, which currently includes more than 75 New York Times bestsellers.
“One of our strengths is working with talented authors to create and develop properties that have mass entertainment appeal,” said Leslie Morgenstein, President of Alloy Entertainment. “This program is an exciting extension of our business and will allow us to leverage Amazon’s ability to distribute to an incredibly diverse and broad readership.”
“Rebel Wing is the book of my heart. It’s a story I felt compelled to tell, both from the perspective of an Army wife and as someone who believes you can never have enough strong female characters in the world,” said author Tracy Banghart. “Being given the opportunity to work with the incredibly talented folks at Alloy to make it the best version of itself was an exciting and affirming process, and knowing that its distribution will be handled by Amazon—a company that has already made so much possible for me as an indie author—is pretty much the definition of win-win as far as I’m concerned.”
“Alloy has a tremendous track record developing stories, like Gossip Girl, Pretty Little Liars and The Vampire Diaries, that our customers love,” said Jeff Belle, Vice President of Amazon Publishing. “We’re thrilled to promote these books from Alloy Entertainment with our Powered by Amazon program. It’s a great fit.”
Authors who publish with Alloy Entertainment’s new digital-first imprint receive an advance and royalties paid on a monthly basis. Alloy Entertainment will also look for opportunities to develop acquired titles as television series, feature films, and digital entertainment.
About Alloy Entertainment
Alloy Entertainment, a division of the Warner Bros. Television Group, develops and produces original novels, television series and feature films. More than 75 of AE’s books have been on The New York Times bestseller list, including The Vampire Diaries, Pretty Little Liars, Gossip Girl, Sisterhood of the Traveling Pants, The Luxe, Veronica Mars: The Thousand-Dollar Tan Line, and The 100. AE has successfully adapted several of its properties into hit television shows for broadcast across multiple networks, including The CW, ABC, ABC Family and Nickelodeon. Current Alloy Entertainment television series include Pretty Little Liars, The Vampire Diaries, The Originals and The 100. AE feature films include Sisterhood of the Traveling Pants 1 & 2, Sex Drive and The Clique, with several additional projects currently in development including Sisterhood Everlasting, The Merciless and The Brokenhearted.
About Amazon.com
Amazon opened on the World Wide Web in July 1995. The company is guided by three principles: customer obsession rather than competitor focus, passion for invention, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire phone, Fire tablets, and Fire TV are some of the products and services pioneered by Amazon.
CHICAGO and NEW YORK, Tribune Broadcasting, a subsidiary of Tribune Media (NYSE: TRCO), and Altice USA (NYSE: ATUS) today announced that they have reached a comprehensive agreement on carriage and retransmission consent. The agreement enables Altice USA to continue carrying Tribune local televisions stations across the country and provides for carriage of Tribune’s cable entertainment network WGN America. Specific terms of the agreement were not disclosed.
Tribune Media Company (NYSE: TRCO) is home to a diverse portfolio of television and digital properties driven by quality news, entertainment and sports programming. Tribune Media is comprised of Tribune Broadcasting’s 42 owned or operated local television stations reaching approximately 50 million households, national entertainment cable network WGN America, whose reach is more than 77 million households, and a variety of digital applications and websites commanding 54 million monthly unique visitors online. Tribune Media also includes Chicago’s WGN-AM and the national multicast networks Antenna TV and THIS TV. Additionally, the Company owns and manages a significant number of real estate properties across the U.S. and holds a variety of investments, including a 31% interest in Television Food Network, G.P., which operates Food Network and Cooking Channel. For more information please visit www.tribunemedia.com.
ALTICE USA (NYSE: ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands. For more information please visit www.alticeusa.com.
NEW YORK – From a nail-biter World Series matchup and breathtaking Summer Olympics Games to some of the highest-rated political debates in history, 2016 provided no shortage of must-watch television. To provide insights about consumer television viewing activity Altice USA has released its first Altice USA Data Flash Review, which analyzed 2016 viewing trends of its Optimum TV customers. Altice USA Data Flash Reviews leverage the company’s Total Audience Data platform from approximately 11 million Optimum and Suddenlink household set-top boxes across a
nationwide footprint*. Privacy is of utmost importance to the company, and our census-level tuning data is maintained on an aggregated, anonymous and protected basis and individual viewing information is not shared.
Altice USA is the fourth largest cable company in the U.S. and provides Optimum and Suddenlink-branded high-speed data, television and voice products and services across 20 states. It is a subsidiary of Altice N.V. (Euronext: ATC, ATCB), a leading global telecommunications, media and entertainment company.
“Optimum customers love watching television and live tune-in continues to be the most popular way they choose to access their favorite content,” said Paul Haddad, Global Chief Data Officer for Altice. “We have also seen customers take advantage of options to watch programming on their own terms, with viewing up substantially on our DVR platform.
With deep insights into the viewing trends of our Optimum customers, Altice USA is able to constantly innovate and prioritize new features and services that align with consumers’ preferences and demands.”
In 2016, Optimum TV subscribers throughout the New York tri-state area were once again heavy live TV viewers, with households tuning in more than eight hours per day while also spending over an hour daily viewing time-shifted content, with DVR being the most preferred tuning mode.
• Overall in 2016, the most popular ways to watch TV included live viewing with 91.9% of viewing, DVR representing 4.9% and VOD comprising 2.7%.
• Compared to 2015, DVR-based viewing by Optimum customers rose more than 9 percent to an average of 1 hour and 47 minutes per day, representing the most popular time-shifted or on-demand viewing method.
• Hours spent viewing VOD content remained unchanged at just over 90 minutes per day.
Additional interesting trends and shifts relative to 2015 live TV viewing patterns were uncovered:
• News programming tune-in increased more than 4% over 2015, with viewership of political-focused programming increasing by 88% over last year.
• Hours spent tuned to sports programming fell 4% compared to 2015.
“Altice USA brings deep experience in industry-leading utilization of customer viewing data that helps our programming and brand partners more effectively and efficiently reach the right audiences in the right places,” said Haddad. “As viewing habits continue to evolve across the platforms Altice USA remains committed to supporting advanced ad delivery capabilities that meet changing campaign objectives.”
About Altice USA
Altice USA, a subsidiary of Altice Group (Euronext: ATC, ATCB), is the fourth largest cable operator in the United States, delivering residential and business services to 4.6 million customers across 20 states. Providing high-quality products that keep customers connected, Altice USA (through its Optimum, Lightpath and Suddenlink brands) offers digital cable television, high-speed Internet, voice, WiFi and advertising services. To meet our customers’ content and information needs, the company through News 12 also offers hyper-local news and programming created specifically for the
communities we serve in the tri-state area. For more information, visit www.alticeusa.com.
LUXEMBOURG– (NASDAQ:AMZN)—Amazon and leading Italian bookstore chain Giunti announced an exclusive agreement to launch an innovative bookstore model, blending digital and physical reading together, and offering Giunti customers access to a wide selection of Amazon products. Italian customers will be able to discover and buy Kindle e-readers in 170 Giunti al Punto bookstores by the end of the summer. Giunti booksellers will help readers find print or digital books they want that are most suitable for their literary tastes.
Starting today through December 31, 2014, Giunti al Punto customers will receive five free Kindle books of their choice, from the Giunti catalog when they buy any Kindle e-reader at the Giunti al Punto bookstores.
Later this year and with the support of Amazon, Giunti al Punto bookstores will open an online shop where its customers will have access to a vast selection of books, physical media products and toys available on Amazon.it. Customers of the Giunti online shop will benefit from a great customer experience from Amazon logistics, delivery and customer service. Moreover, for every purchase on the new Giunti online shop, customers will also earn Giunti points, which can be converted into vouchers and spent in the Giunti al Punto physical bookstores.
“Giunti, with its centenary history, and its bookstore chain, among Italy’s best known and loved, continue to innovate on behalf of its customers,” said Jorrit Van der Meulen, Vice President, Amazon Kindle. “Amazon and Giunti share the same core values: customer obsession and a passion for reading. With its 170 bookstores, Giunti is the ideal partner for Amazon to help Italian readers discover the benefits of digital reading.”
“The Giunti-Amazon agreement represents a milestone to advance the bookstore experience for our customers and promote reading in Italy, in any possible format,” said Martino Montanarini, Giunti CEO. “The Kindle ecosystem is truly appreciated by customers all over the world, thanks to this agreement, we can make the largest possible selection of books, digital innovation and eBooks available to our customers, adding the Italian Kindle Store and the Giunti online shop to the traditional Giunti al Punto offer.”
The Amazon.it Kindle Store offers more than 2.5 million books, including one of the largest selections of books in Italian—with over 75,000 titles, including free classics and thousands of books for less than € 1.99. Amazon also has agreements with Waterstones, the UK’s largest brick and mortar bookseller, and independent bookstores in the US.
Giunti al Punto bookstores
With 170 bookstores extensively distributed throughout the Italian territory, Giunti al Punto is the #1 Italian bookstore chain in terms of directly operated stores. Giunti al Punto stores have a size ranging between 100 to 1000 square meters and carry a wide selection. Bookstores are conveniently located in historic city centers, shopping malls, airports and outlets.
About Amazon.com
Amazon.com, Inc. (NASDAQ: AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth’s Biggest Selection. Amazon.com, Inc. seeks to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as Books; Movies, Music & Games; Digital Downloads; Electronics & Computers; Home & Garden; Toys, Kids & Baby; Grocery; Apparel, Shoes & Jewelry; Health & Beauty; Sports & Outdoors; and Tools, Auto & Industrial. Amazon Web Services provides Amazon’s developer customers with access to in-the-cloud infrastructure services based on Amazon’s own back-end technology platform, which developers can use to enable virtually any type of business. Amazon Fire TV is a tiny box that plugs into your HDTV for easy and instant access to Netflix, Prime Instant Video, Hulu Plus, WatchESPN, SHOWTIME, low-cost video rentals, and much more. Kindle Paperwhite is the world’s best-selling and most advanced e-reader. It features new display technology with higher contrast, the next generation built-in light, a faster processor, the latest touch technology, and exclusive new features designed from the ground up for readers. Kindle, the lightest and smallest Kindle, features improved fonts and faster page turns. The new Kindle Fire HDX features a stunning exclusive 7” or 8.9” HDX display, a quad-core 2.2 GHz processor, 2x more memory, and 11 hours of battery life, as well as exclusive new features of Fire OS 3.0 including X-Ray for Music, Second Screen, Prime Instant Video downloads, and the revolutionary new Mayday button. The all-new Kindle Fire HD includes an HD display, high-performance processor and dual speakers at a breakthrough price.
NEW YORK – American Media, LLC today announced that it has reached an agreement in principle with James Cohen, the owner and CEO of Hudson Media, for the sale of its newsprint tabloids, including the National Enquirer (US and UK editions), Globe and National Examiner. The agreement also includes a multi-year service contract that will generate substantial fees for American Media to provide publishing, financial and distribution services for the tabloid brands.
“The sale of these brands shows their vitality in today’s newsstand marketplace where they continue to generate nearly $30 million in profit annually,” said American Media President and CEO David J. Pecker. “James and his team at Hudson have a proven history in publishing and have the market-based knowledge and long-term vision needed to ensure the growth of these brands.”
“Year after year, the Enquirer has continued to be one of the best-selling and most profitable newsstand titles,” said James Cohen. “But this transaction is about more than a weekly publication, it’s about a brand with extraordinary potential across multiple platforms.”
Mr. Cohen said he plans to accelerate the Enquirer’s current collaborations with Investigation Discovery, as well as the documentary shows it produces for REELZ. In addition, he sees exponential growth and engagement through weekly series podcasts from the tabloid’s archives. The recent 12-part audio documentary podcast, “Fatal Voyage: The Mysterious Death of Natalie Wood,” quickly became the #2 program among all Apple podcasts worldwide with 4+ million downloads in 2018. Expanding the National Enquirer theme parks that recently opened in Branson, Missouri and Pigeon Forge, Tennessee to other markets is another priority.
The result of this transaction is a significant deleveraging for American Media, leaving the company with only $355 million of debt. Interest expense will be reduced by $13 million per year, which will enhance the company’s free cash flow and allow American Media to continue to deleverage.
The agreement between the companies is expected to close as soon as possible once the necessary regulatory approvals have been obtained.
About American Media, LLC
American Media, LLC owns and operates the leading print and digital celebrity and active lifestyle media brands in the United States. American Media’s titles include Us Weekly, Star, OK!, In Touch, Life & Style, Closer, Men’s Journal, Muscle & Fitness, Powder, Snowboarder, Surfer, Bike, Mr. Olympia Contest, National Enquirer and other celebrity and teen titles. American Media also manages nineteen different digital sites including Usmagazine.com, OKmagazine.com, RadarOnline.com, Intouchweekly.com, Lifeandstylemag.com, Closerweekly.com, MensJournal.com, MuscleandFitness.com, Powder.com, Surfer.com and other digital and social properties. American Media’s magazines have a combined total circulation of 5.7+ million and reach approximately 49.4 million men and women each month. American Media’s digital properties reach approximately 65 million unique visitors monthly.
SYDNEY —Apple® today announced iTunes Radio™ is now available to music fans in Australia. iTunes Radio is a free Internet radio service featuring over 100 stations and an incredible catalog of music from the iTunes Store®, combined with features only iTunes® can deliver. When you tune into iTunes Radio on your iPhone®, iPad®, iPod touch®, Mac®, PC or Apple TV®, you’ll have access to stations inspired by the music you already listen to, Featured Stations curated by Apple and genre-focused stations that are personalized just for you. iTunes Radio evolves based on the music you play and download. The more you use iTunes Radio and iTunes, the more it knows what you like to listen to and the more personalized your experience becomes. iTunes Radio also gives you access to exclusive “First Play” premieres from top selling artists, plus the ability to tag or buy anything you hear with just one click.
iTunes Radio offers music fans access to thousands of new songs every week, as well as serving up exclusive music from new and popular artists before you hear them anywhere else. Whether it’s an exclusive single from an up-and-coming band or a pre-release stream of an entire album, iTunes Radio has it all. iTunes Radio is home to special events including live streams direct from the iTunes Festival in London and other exclusive iTunes Sessions.
iTunes Radio is ad-supported and free for everyone. iTunes Match® users get iTunes Radio ad-free, so instead of hearing the occasional ad on iTunes Radio, iTunes Match makes your listening completely ad-free. With iTunes Match, all your music—even songs you’ve imported from CDs—are stored in iCloud®. iTunes Radio can use information about your entire music collection to make your stations even more personalized. iTunes Match costs AU$34.99 for a year.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.
This Press Release is courtesy of www.apple.com
CUPERTINO, California— Apple® today updated Final Cut Pro® X, Motion and Compressor with new features for motion graphics and key enhancements to accelerate video editing, packaging and delivery. Final Cut Pro 10.2 introduces stunning 3D titles that are easy to use, improved masking for color grading and effects, and native support for more camera formats, as well as GPU-accelerated RED RAW processing. Motion 5.2 extends the power of 3D titles with the ability to create custom materials and environments and instantly publish them to Final Cut Pro X. Compressor 4.2 makes it easy to package a movie for sale on the iTunes Store®.
“From Hollywood blockbuster directors to first time movie makers, Final Cut Pro X is changing the way we edit movies today,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “The updated Final Cut Pro X, Motion and Compressor make it even easier to edit, title and package everything from short videos to feature-length films.”
“We loved using Final Cut Pro X to edit Focus,” said Glenn Ficarra and John Requa, co-directors of the 2015 feature film, Focus. “We created the final theatrical titles for the movie right in Final Cut Pro, and the new 3D titling and effects features will let us take in-app graphics even further. We’re using the new Final Cut Pro on our next feature film.”
Final Cut Pro 10.2 lets video editors create gorgeous 3D titles with drag-and-drop ease and ships with simple templates to get started quickly, as well as cinematic templates with built-in backgrounds and animations. Users can choose from a set of text styles to customize the look of their titles with hundreds of combinations of materials, lighting and edges, and instantly convert 2D titles to 3D and see changes in real time. Final Cut Pro 10.2 also lets editors view up to four video scopes simultaneously, for more precision when color grading, and includes improved Shape masks on any effect that can be saved as presets for quick access later. In addition, Final Cut Pro 10.2 natively supports even more video formats, including Panasonic AVC-Ultra and Sony XAVC-S, and makes working with RED RAW files faster than ever with GPU-accelerated transcoding, playback and rendering—including support for dual GPUs on Mac Pro®.
Video editors and motion graphics professionals can take advantage of Motion 5.2, which offers even more options for 3D titles. The app now lets users create dynamic titles with multiple lights and cameras, as well as multilayered scenes with 3D titles that cast ultra-realistic shadows and reflections on other objects. Dozens of third-party partners offer even more options for beautiful 3D titles, and hundreds of new 3D templates are coming soon from developers including Ripple Training, motionVFX and FxFactory—all of which work seamlessly in the new versions of Motion and Final Cut Pro. Motion also includes 12 new generator effects, improved keyframing and enhanced controls for mask and shape creation.
Compressor 4.2 makes it easier than ever to prepare a movie for sale on the iTunes Store. Simply choose the movie, trailer, closed captions, and more, and Compressor creates an iTunes Store Package, which users can submit to an iTunes Delivery Partner for sale on the store. Compressor also delivers key performance improvements for encoding tasks, including fast GPU rendering when using Send to Compressor and hardware-accelerated multi-pass H.264 encoding on compatible systems.
Pricing & Availability
Final Cut Pro 10.2, Motion 5.2 and Compressor 4.2 are available today from the Mac® App Store℠ for $299.99 (US), $49.99 (US), and $49.99 (US), respectively to new users, or as a free update for existing customers.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.
Mountain View, CA and Washington, DC; – The Association of American Publishers (AAP) and Google today announced a settlement agreement that will provide access to publishers’ in-copyright books and journals digitized by Google for its Google Library Project. The dismissal of the lawsuit will end seven years of litigation.
The agreement settles a copyright infringement lawsuit filed against Google on October 19, 2005 by five AAP member publishers. As the settlement is between the parties to the litigation, the court is not required to approve its terms.
The settlement acknowledges the rights and interests of copyright-holders. US publishers can choose to make available or choose to remove their books and journals digitized by Google for its Library Project. Those deciding not to remove their works will have the option to receive a digital copy for their use.
Apart from the settlement, US publishers can continue to make individual agreements with Google for use of their other digitally-scanned works.
“We are pleased that this settlement addresses the issues that led to the litigation,” said Tom Allen, President and CEO, AAP. “It shows that digital services can provide innovative means to discover content while still respecting the rights of copyright-holders.”
“Google is a company that puts innovation front and center with all that it does,” said David Drummond, Senior Vice President, Corporate Development and Chief Legal Officer, Google. “By putting this litigation with the publishers behind us, we can stay focused on our core mission and work to increase the number of books available to educate, excite and entertain our users via Google Play.”
Google Books allows users to browse up to 20% of books and then purchase digital versions through Google Play. Under the agreement, books scanned by Google in the Library Project can now be included by publishers.
Further terms of the agreement are confidential.
This settlement does not affect Google’s current litigation with the Authors Guild or otherwise address the underlying questions in that suit.
The publisher plaintiffs are The McGraw-Hill Companies, Inc.; Pearson Education, Inc. and Penguin Group (USA) Inc., both part of Pearson; John Wiley & Sons, Inc.; and Simon & Schuster, Inc. part of CBS Corporation.
This Press Release is courtesy of www.google.com
DALLAS and NEW YORK CITY, — AT&T Inc. (NYSE:T) and Time Warner Inc. (NYSE:TWX) today announced they have entered into a definitive agreement under which AT&T will acquire Time Warner in a stock-and-cash transaction valued at $107.50 per share. The agreement has been approved unanimously by the boards of directors of both companies.
The deal combines Time Warner’s vast library of content and ability to create new premium content that connects with audiences around the world, with AT&T’s extensive customer relationships, world’s largest pay TV subscriber base and leading scale in TV, mobile and broadband distribution.
“This is a perfect match of two companies with complementary strengths who can bring a fresh approach to how the media and communications industry works for customers, content creators, distributors and advertisers,” said Randall Stephenson, AT&T chairman and CEO. “Premium content always wins. It has been true on the big screen, the TV screen and now it’s proving true on the mobile screen. We’ll have the world’s best premium content with the networks to deliver it to every screen. A big customer pain point is paying for content once but not being able to access it on any device, anywhere. Our goal is to solve that. We intend to give customers unmatched choice, quality, value and experiences that will define the future of media and communications.
“With great content, you can build truly differentiated video services, whether it’s traditional TV, OTT or mobile. Our TV, mobile and broadband distribution and direct customer relationships provide unique insights from which we can offer addressable advertising and better tailor content,” Stephenson said. “It’s an integrated approach and we believe it’s the model that wins over time.
“Time Warner’s leadership, creative talent and content are second to none. Combine that with 100 million plus customers who subscribe to our TV, mobile and broadband services – and you have something really special,” said Stephenson. “It’s a great fit, and it creates immediate and long-term value for our shareholders.”
Time Warner Chairman and CEO Jeff Bewkes said, “This is a great day for Time Warner and its shareholders. Combining with AT&T dramatically accelerates our ability to deliver our great brands and premium content to consumers on a multiplatform basis and to capitalize on the tremendous opportunities created by the growing demand for video content. That’s been one of our most important strategic priorities and we’re already making great progress — both in partnership with our distributors, and on our own by connecting directly with consumers. Joining forces with AT&T will allow us to innovate even more quickly and create more value for consumers along with all our distribution and marketing partners, and allow us to build on a track record of creative and financial excellence that is second to none in our industry. In fact, when we announce our 3Q earnings, we will report revenue and operating income growth at each of our divisions, as well as double-digit earnings growth.
Bewkes continued, “This is a natural fit between two companies with great legacies of innovation that have shaped the modern media and communications landscape, and my senior management team and I are looking forward to working closely with Randall and our new colleagues as we begin to capture the tremendous opportunities this creates to make our content even more powerful, engaging and valuable for global audiences.”
Time Warner is a global leader in media and entertainment with a great portfolio of content creation and aggregation, plus iconic brands across video programming and TV/film production. Each of Time Warner’s three divisions is an industry leader: HBO, which consists of domestic premium pay television and streaming services (HBO Now, HBO Go), as well as international premium & basic pay television and streaming services; Warner Bros. Entertainment, which consists of television, feature film, home video and videogame production and distribution. Warner Bros. film franchises include Harry Potter & DC Comics, and its produced TV series include Big Bang Theory and Gotham; Turner consists of U.S. and international basic cable networks, including TNT, TBS, CNN and Cartoon Network/Adult Swim. Also, Turner has the rights to the NBA, March Madness and MLB. Time Warner also has invested in OTT and digital media properties such as Hulu, Bleacher Report, CNN.com and Fandango.
Customer Benefits
The new company will deliver what customers want — enhanced access to premium content on all their devices, new choices for mobile and streaming video services and a stronger competitive alternative to cable TV companies.
With a mobile network that covers more than 315 million people in the United States, the combined company will strive to become the first U.S. mobile provider to compete nationwide with cable companies in the provision of bundled mobile broadband and video. It will disrupt the traditional entertainment model and push the boundaries on mobile content availability for the benefit of customers. And it will deliver more innovation with new forms of original content built for mobile and social, which builds on Time Warner’s HBO Now and the upcoming launch of AT&T’s OTT offering DIRECTV NOW.
Owning content will help AT&T innovate on new advertising options, which, combined with subscriptions, will help pay for the cost of content creation. This two-sided business model — advertising- and subscription-based — gives customers the largest amount of premium content at the best value.
Summary Terms of Transaction
Time Warner shareholders will receive $107.50 per share under the terms of the merger, comprised of $53.75 per share in cash and $53.75 per share in AT&T stock. The stock portion will be subject to a collar such that Time Warner shareholders will receive 1.437 AT&T shares if AT&T’s average stock price is below $37.411 at closing and 1.3 AT&T shares if AT&T’s average stock price is above $41.349 at closing.
This purchase price implies a total equity value of $85.4 billion and a total transaction value of
$108.7 billion, including Time Warner’s net debt. Post-transaction, Time Warner shareholders will own between 14.4% and 15.7% of AT&T shares on a fully-diluted basis based on the number of AT&T shares outstanding today.
The cash portion of the purchase price will be financed with new debt and cash on AT&T’s balance sheet. AT&T has an 18-month commitment for an unsecured bridge term facility for $40 billion.
Transaction Will Result in Significant Financial Benefits
AT&T expects the deal to be accretive in the first year after close on both an adjusted EPS and free cash flow per share basis.
AT&T expects $1 billion in annual run rate cost synergies within 3 years of the deal closing. The expected cost synergies are primarily driven by corporate and procurement expenditures. In addition, over time, AT&T expects to achieve incremental revenue opportunities that neither company could obtain on a standalone basis.
Given the structure of this transaction, which includes AT&T stock consideration as part of the deal, AT&T expects to continue to maintain a strong balance sheet following the transaction close and is committed to maintaining strong investment-grade credit metrics.
By the end of the first year after close, AT&T expects net debt to adjusted EBITDA to be in the 2.5x range.
Additionally, AT&T expects the deal to improve its dividend coverage and enhance its revenue and earnings growth profile.
Time Warner provides AT&T with significant diversification benefits:
Diversified revenue mix — Time Warner will represent about 15% of the combined company’s revenues, offering diversification from content and from outside the United States, including Latin America, where Time Warner owns a majority stake in HBO Latin America, an OTT service available in 24 countries, and AT&T is the leading pay TV distributor.
Lower capital intensity — Time Warner’s business requires little in capital expenditures, which helps balance the higher capital intensity of AT&T’s existing business.
Regulation — Time Warner’s business is lightly regulated compared to much of AT&T’s existing operations.
The merger is subject to approval by Time Warner Inc. shareholders and review by the U.S. Department of Justice. AT&T and Time Warner are currently determining which FCC licenses, if any, will be transferred to AT&T in connection with the transaction. To the extent that one or more licenses are to be transferred, those transfers are subject to FCC review. The transaction is expected to close before year-end 2017.
About AT&T
AT&T Inc. (NYSE:T) helps millions around the globe connect with leading entertainment, mobile, high-speed Internet and voice services. We’re the world’s largest provider of pay TV. We have TV customers in the U.S. and 11 Latin American countries. We offer the best global coverage of any U.S. mobile provider*. And we help businesses worldwide serve their customers better with our mobility and highly secure cloud solutions.
About Time Warner Inc.
Time Warner Inc. (NYSE:TWX) is a global leader in media and entertainment with businesses in television networks and film and TV entertainment, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide on a multi-platform basis.
BET Networks, a unit of Viacom Media Networks (NASDAQ: VIAB, VIA), and Tyler Perry Studios today unveiled a new joint venture to launch BET+, a premier subscription video-on-demand service focused on the African American audience. Available to consumers this fall, BET+ will feature more than 1,000 hours of premium content including exclusive new original programming and fan-favorite series, movies, and specials from BET Networks, world-renowned creator Tyler Perry, and a host of leading African American content creators.
BET+, the new online streaming service, will launch with more than 1,000 hours of premium content including beloved hit movies and TV shows, new exclusive originals, and recent seasons of current shows from top black creators and talent.
“African Americans are the leading consumers of streaming services, with higher SVOD adoption rates than other consumers, which is why we’re so excited to launch a premium product for this underserved audience. BET+ is a natural extension of BET’s linear network, which has been the leading home of black culture for decades. Our curated catalog and original programming will keep the BET+ content offering fresh, fueling subscriber growth, viewership and retention,” said Scott Mills, President of BET Networks. “Tyler Perry is the perfect partner for BET+. The combination of new, original shows and his giant library of popular movies, series and stage plays that Tyler brings to our joint venture creates an amazing product for his large and passionate fan base.”
“In our industry, the way people consume content is constantly evolving. I’ve paid attention to my audience and what works for them and, for that reason, I’m very excited not only about the idea of partnering with BET to create new and exciting content, but also about the idea of giving people a personalized experience through the ability to curate the content they love to consume. On a personal level, this will also be the first time I’ll be working in areas like unscripted and variety television, which will afford me the opportunity to work in fresh, creative ways with new voices and to discover new talent,” said Tyler Perry.
BET+ will offer consumers a comprehensive collection of premier African American-focused dramas, sitcoms, films and specials in the streaming universe. Itwill be the official home of Tyler Perry’s collected works across film, television and the stage. The service will feature Tyler Perry’s box office-topping theatrical films, including films from the “Madea” series; original series “House of Payne” and “Meet the Browns” and a selection of Perry’s stage plays.
In addition, the first BET+ original — “First Wives Club,” a new 10 episode scripted drama from acclaimed “Girls Trip” screenwriter Tracy Oliver — will debut on the service in the fall. The modern television remake of the classic 1996 revenge comedy starring Goldie Hawn, Bette Midler and Diane Keaton now stars an all-star African American cast including Jill Scott (“Why Did I Get Married”), Ryan Michelle Bathe(“This is Us,” “Empire”) and Michelle Buteau (“Isn’t It Romantic”). “First Wives Club” kicks off BET+’s slate of exclusive original programming that includes the premiere of a new series from blockbuster hit-maker Will Packer(“Ride Along,” “Think Like a Man”) and new original series from Tyler Perry and more.
The service will also feature a deep library of beloved series, films, and documentaries from BET Networks and the Viacom portfolio — including “Real Husbands of Hollywood,” “The New Edition Story,” “The Quad,” “College Hill,” “Comic View,” “Hell Date,” and more — most of which have not previously been available on streaming platforms.
BET+ will be available at launch on Android devices such as Samsung Galaxy, iOS devices such as the Apple iPad and iPhone, as well as other streaming devices.
BET’s new and current-window programming will continue to be available on BET’s linear network, including the newly-announced Tyler Perry original drama, “The Oval,” which will debut on BET as the first series under Perry’s multi-year content partnership with the network. With over 75 hours of new original content slated to premiere on BET over the next year, Perry’s line-up will also include another drama series, two comedy series, and a live holiday-themed production. BET fans will have additional access points to BET content on BET.com and the BET Now app for TV Everywhere users.
In addition, BET’s recently launched channel on Pluto TV, the leading free streaming television service in the U.S., will continue to feature hundreds of hours of classic films and box office hits from the best of black Hollywood.
For more information on BET+ visit bet.com/betplus.
ABOUT BET NETWORKS
BET Networks, a subsidiary of Viacom Inc. (NASDAQ: VIA, VIA.B), is the nation’s leading provider of quality entertainment, music, news and public affairs television programming for the African-American audience. The primary BET channel is in nearly 85 million households and can be seen in the United States, Canada, the Caribbean, the United Kingdom, sub-Saharan Africa and France. BET is the dominant African-American consumer brand with a diverse group of business extensions including BET.com, a leading Internet destination for Black entertainment, music, culture, and news; BET HER (formerly CENTRIC), a 24-hour entertainment network targeting the African-American woman; BET Music Networks – BET Jams, BET Soul and BET Gospel; BET Home Entertainment; BET Live, BET’s growing festival business; BET Mobile, which provides ringtones, games and video content for wireless devices; and BET International, which operates BET Networks around the globe.
ABOUT TYLER PERRY STUDIOS
Tyler Perry Studios is a state-of-the art film and television production facility founded in 2006 by actor, producer, filmmaker, playwright and philanthropist Tyler Perry. Located in Atlanta, Georgia on the historic grounds of the former Fort McPherson army base, the new 330-acre campus is one of the largest production studios in the country. It boasts a variety of shooting locations including 40 buildings on the national register of historic places, 11 purpose-built sound stages, 200 acres of green space and an expansive backlot.
ABOUT VIACOM
Viacom creates entertainment experiences that drive conversation and culture around the world. Through television, film, digital media, live events, merchandise and solutions, our brands connect with diverse, young and young at heart audiences in more than 180 countries.
SAN FRANCISCO — Today, BrightRoll announced the availability of Yahoo Audience Ads on the BrightRoll Demand Side Platform (DSP). Advertisers running programmatic campaigns with BrightRoll will now have access to exclusive Yahoo audience data to target consumers across all addressable video supply, on and off Yahoo owned and operated (O&O) inventory.
Yahoo’s deep insights into consumer behavior and interest data from more than one billion users globally, as well as Yahoo Search and Mail data, translates into unique targeting capabilities. Audience and demographic targeting segments from Yahoo Audience Ads help advertisers efficiently reach precise audiences and avoid wasted ad spend. This data, combined with Yahoo and BrightRoll’s industry leading reach, enable advertisers to get their message in front of the audiences they care about most without compromising scale.
“Video is a core focus for Yahoo, and since the acquisition, we’ve been focused on accelerating innovation to bring even greater value to advertisers,” said Tod Sacerdoti, BrightRoll founder and CEO. “We recognized an early opportunity to integrate Yahoo’s unique data assets into the BrightRoll DSP, and this truly is a game changer. Only a handful of companies in the world have the ability to reach audiences at this scale with this level of consumer insight, however, no other company makes their data available for targeting outside their walled garden of O&O properties.”
Together, Yahoo and BrightRoll are driving higher ROI for advertisers by delivering more reach, superior targeting, and exclusive access to engaging video inventory across thousands of sites and mobile applications. Benefits to advertisers include:
Superior demographic and audience targeting capabilities: Exclusive consumer and registration data on over one billion unique users across all major demo and interest categories, available via the BrightRoll DSP.
Industry-leading scale in digital video: BrightRoll’s DSP reaches 99 percent of US online video viewers and gives advertisers billions of opportunities per day to put their message in front of their target customers.
More opportunities to reach precise audiences: Access to more than 60 billion monthly impressions across devices enables advertisers to reach consumers with the right message at the right time.
Social lift: Monitors the impact of video campaigns based on social media conversations so advertisers can identify trends and take action to amplify their message in real-time.
Validate your audience: Yahoo audience data paired with BrightRoll’s always-on integrations with comScore and Nielsen help advertisers ensure their message is seen by the right target audience in real-time.
Drive higher ROI: Get your message in front of more of your in-target audiences and access real-time performance insights via the BrightRoll DSP.
About BrightRoll
BrightRoll builds software that automates and improves digital video advertising globally. The company offers the industry’s leading programmatic video solutions, including a demand side platform and marketplace. These solutions help advertisers, publishers and partners grow their business and connect with consumers on web, mobile and TV. A division of Yahoo, BrightRoll powers digital video advertising for 87 of the top 100 Ad Age advertisers, 41 of the top 50 publishers, and more than 100 technology partners. For more on BrightRoll visit brightroll.com.
NEW YORK – CBS Corp. (NYSE: CBS.A, CBS) and Viacom (NASDAQ: VIA, VIAB), two of the world’s leading entertainment companies, today announced they have entered into a definitive agreement to combine in an all-stock merger, creating a combined company with more than $28 billion in revenue.
The combined company, ViacomCBS Inc., will be a leading global, multiplatform, premium content company, with the assets, capabilities and scale to be one of the most important content producers and providers in the world. The combined company will be a scale player globally, with leadership positions in markets across the U.S., Europe, Latin America and Asia. This includes the largest television business in the U.S., with the highest share of broadcast and cable viewing across all key audience demographics, and strength in every key category, including News, Sports, General Entertainment, Pop Culture, Comedy, Music and Kids – making it a first-choice partner to distributors and advertisers. In addition, the combined company will possess a portfolio of fast-growing direct-to-consumer platforms, including both subscription and ad-supported offerings. It will also include a major Hollywood film studio, Paramount Pictures, which has been a producer and global distributor of filmed entertainment for more than a century and continues to be a global box office driver. Taken together, these distinct strengths will accelerate CBS and Viacom’s ability to deliver an array of compelling content to important and diverse audiences across both traditional and emerging platforms around the world.
Bob Bakish, President and Chief Executive Officer, Viacom, will become President and Chief Executive Officer of the combined company. Bakish said: “Today marks an important day for CBS and Viacom, as we unite our complementary assets and capabilities and become one of only a few companies with the breadth and depth of content and reach to shape the future of our industry. Our unique ability to produce premium and popular content for global audiences at scale – for our own platforms and for our partners around the world – will enable us to maximize our business for today, while positioning us to lead for years to come. As we look to the future, I couldn’t be more excited about the opportunities ahead for the combined company and all of our stakeholders – including consumers, the creative community, commercial partners, employees and, of course, our shareholders.”
Joe Ianniello, President and Acting Chief Executive Officer, CBS, will become Chairman and CEO of CBS. Ianniello, who will oversee all CBS-branded assets in his new role, said: “This merger brings an exciting new set of opportunities to both companies. At CBS, we have outstanding momentum right now – creatively and operationally – and Viacom’s portfolio will help accelerate that progress. I look forward to all we will do together as we build on our ongoing success. And personally, I am pleased to remain focused on CBS’s top priority – continuing our transformation into a global, multiplatform, premium content company.”
Shari Redstone, Vice Chair of the Boards of Directors, CBS and Viacom, said: “I am really excited to see these two great companies come together so that they can realize the incredible power of their combined assets. My father once said ‘content is king,’ and never has that been more true than today. Through CBS and Viacom’s shared passion for premium content and innovation, we will establish a world-class, multiplatform media organization that is well-positioned for growth in a rapidly transforming industry. Led by a talented leadership team that is excited by the future, ViacomCBS’s success will be underpinned by a commitment to strong values and a culture that empowers our exceptional people at all levels of the organization.”
Strategic Rationale
Premium content at scale. The combined company will possess a portfolio of powerful consumer brands, including CBS, Showtime, Nickelodeon, MTV, BET, Comedy Central and Paramount Network, as well as one of the largest libraries of iconic intellectual property, spanning every key genre and addressing consumers of all ages and demographics. This library comprises 140,000+ TV episodes and 3,600+ film titles, and reunites fan-favorite franchises such as Star Trek and Mission: Impossible. The combined company will also have more than 750 series currently ordered to or in production. In addition, it will include a major Hollywood film studio, Paramount Pictures, which creates and distributes feature-length entertainment around the world. The combined company will also be one of the largest content spenders, with more than $13 billion spent in the last 12 months.
Global leadership positions. The combined company will be a broadcast and cable leader in key markets around the world, reaching more than 4.3 billion cumulative TV subscribers. In the U.S., the combined company’s portfolio of broadcast, premium and cable networks will have the highest share of viewing on television among key audiences, including Kids, African Americans and Hispanic viewers. In addition, the combined company will operate strong broadcast networks in the UK, Argentina and Australia, as well as pay-TV networks across more than 180 countries. It will also have significant global production capabilities across five continents – creating content in 45 languages.
Powerful, three-part strategy for growth. In a quickly evolving media landscape, the combined company will benefit from its distinct competitive position as one of the most important global content providers – for its own platforms as well as for third parties. This will enable the combined company to accelerate the growth of its direct-to-consumer strategy, enhance distribution and advertising opportunities and create a leading producer and licensor of premium content to third-party platforms globally.
1.
Accelerate direct-to-consumer strategy. Together, the combined company will be positioned to accelerate and expand its direct-to-consumer strategy through its proven and diverse portfolio of both subscription and ad-supported offerings. These include CBS All Access and Showtime, which deliver premium, branded content live and on demand to millions of subscribers; Pluto TV, the leading free streaming TV service in the U.S.; and niche products such as CBSN, ET Live and Noggin. It also has an opportunity to expand globally by leveraging its existing strength in both subscription and ad-supported offerings, combined library, content production capabilities and international infrastructure.
2.
Enhance distribution and advertising opportunities. The breadth and depth of the combined company’s reach across both traditional and new platforms – including 22% of U.S. TV viewership – will drive important new distribution and advertising opportunities. For distributors, this includes forming more expansive and multifaceted relationships, and applying the benefit of retransmission consent across a combined portfolio. For advertisers and agencies, the combined company will provide industry-leading reach through a variety of formats, including a portfolio of differentiated advanced advertising and marketing solutions, such as CBS Interactive, Viacom Vantage and Viacom Velocity, which will be applied against significant, expanded inventory across the portfolio.
3.
Create a leading producer and licensor of premium content to third-party platforms globally. As one of the biggest premium content providers in the world, the combined company is positioned to deliver content to a diverse global customer base that includes MVPDs, broadcast and cable networks, subscription and ad-supported streaming services, mobile providers and social platforms. Notably, in addition to content licensing, CBS and Viacom are developing must-watch programming for a broad range of third-party networks and platforms to feed significant demand for original, premium content.
Significant value for all shareholders. The combined company will have an attractive growth outlook and increased financial scale with substantial free cash flow, which will enable significant and sustained investment in programming and innovation, as well as support the combined company’s commitment to maintaining a modest dividend payment. The transaction will be EPS accretive and is expected to deliver an estimated $500 million in annualized run-rate synergies within 12-24 months following closing, with additional strategic benefits. With one of the strongest balance sheets in the industry, the combined company will benefit from a solid investment grade rating.
Leadership, Governance and Transaction Terms
In addition to Bakish and Ianniello, the leadership team of the combined company will include Christina Spade as EVP and Chief Financial Officer; and Christa D’Alimonte as EVP, General Counsel and Secretary.
The Board of Directors will consist of 13 members: six independent members from CBS, four independent members from Viacom, the President and CEO of ViacomCBS and two National Amusements, Inc. (NAI) designees. Shari Redstone will be appointed Chair.
The merger agreement was approved by the Boards of Directors of both CBS and Viacom by unanimous vote of those present, upon the unanimous recommendations of the Special Committees of the CBS and Viacom Boards of Directors, respectively. Existing CBS shareholders will own approximately 61% of the combined company and existing Viacom shareholders will own approximately 39% of the combined company on a fully diluted basis. Under the terms of the merger agreement, each Viacom Class A voting share and Viacom Class B non-voting share will convert into 0.59625 of a Class A voting share and Class B non-voting share of CBS, respectively.
NAI, which holds approximately 78.9% and 79.8% of the Class A voting shares of CBS and Viacom, respectively, has agreed to deliver consents sufficient to assure approval of the transaction. More than two-thirds of the CBS directors unaffiliated with NAI (and all of those unaffiliated directors who voted on the transaction) have approved the transaction, as required in order to permit NAI to consent to the transaction under the terms of the 2018 settlement agreement entered into among CBS, NAI and certain other parties thereto.
The transaction is subject to regulatory approvals and other customary closing conditions. It is expected to close by the 2019 calendar year end.
The Special Committee of CBS’s Board of Directors is being advised by Centerview Partners LLC and Lazard Frères & Co. LLC as its financial advisors and by Paul, Weiss, Rifkind, Wharton & Garrison LLP as its legal counsel. The Special Committee of Viacom’s Board of Directors is being advised by LionTree Advisors LLC and Morgan Stanley & Co. LLC as its financial advisors and by Cravath, Swaine & Moore LLP as its legal counsel. Viacom is being advised by Shearman & Sterling LLP. NAI is being advised by Evercore as its financial advisor and by Cleary Gottlieb Steen & Hamilton LLP as its legal counsel.
About CBS
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins that date back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world’s largest libraries of entertainment content, making its brand –”the Eye” – one of the most-recognized in business. The Company’s operations span virtually every field of media and entertainment, including cable, publishing, local TV, film and interactive. CBS’ businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), Network 10 Australia, CBS Television Studios, CBS Global Distribution Group, CBS Consumer Products, CBS Home Entertainment, CBS Interactive, CBS All Access, the Company’s direct-to-consumer digital streaming subscription service, CBS Sports Network, CBS Films, Showtime Networks, Pop, Smithsonian Networks, Simon & Schuster, CBS Television Stations and CBS Experiences. For more information, go to http://www.cbscorporation.com.
About Viacom
Viacom creates entertainment experiences that drive conversation and culture around the world. Through television, film, digital media, live events, merchandise and solutions, its brands connect with diverse, young and young at heart audiences in more than 180 countries.
NEW YORK, N.Y. – CBS Corporation today announced the launch of dynamic ad insertion capabilities for the CBS Television Network’s on-demand programming. The dynamic ads will be delivered through Canoe, an advertising technology company that enables national television networks and other content providers to explore further monetization of their content beyond the traditional three-day window. The availability of dynamic ad insertion enables CBS to offer advertisers increased audience reach and the flexibility to easily change advertisements at any time within its on-demand programming.
As the most-watched network on-demand[1], CBS’s introduction of dynamic ad insertion allows advertisers more opportunities to reach key demographics as time shifting through VOD, as well as streaming and DVR, continues to grow. This increase in multiplatform audiences has brought new viewers to the CBS Television Network and built on its standing as the #1 network in the business. The addition of dynamic ad insertion will further expand the Network’s ability to monetize beyond the live +3 and live +7 day windows.
“With the launch of dynamic ad insertion we are unlocking new and valuable on-demand inventory for our advertisers with added reach and flexibility,” said Marc DeBevoise, Executive Vice President and General Manager of Entertainment, Sports and News, CBS Interactive. “The rollout of dynamic ad insertion for our VOD programming is another key step in our multiplatform distribution and monetization strategy as we continue to see meaningful lift in online, mobile and on-demand viewership.”
“As the on-demand platform and the viewing it delivers continues to evolve and grow, we’re pleased to offer our clients even greater scheduling flexibility and reach through dynamic ad insertion,” said Jo Ann Ross, President, CBS Network Sales. “Our advertisers recognize the value of delayed viewing both in terms of sheer volume and the quality of the audience it delivers. Having the ability to switch creative copy in a significant portion of this footprint makes VOD an even more attractive option for clients moving forward.”
About CBS Corporation
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins that date back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world’s largest libraries of entertainment content, making its brand – “the Eye” – one of the most recognized in business. The Company’s operations span virtually every field of media and entertainment, including cable, publishing, radio, local TV, film, outdoor advertising, and interactive and socially responsible media. CBS’s businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, TVGN (a joint venture between CBS Corporation and Lionsgate), Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Global Distribution Group (CBS Studios International and CBS Television Distribution), CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia.
This news is courtesy of www.cbscorporation.com
CBS News and CBS Interactive today launched CBSN, the first digital streaming news network that will allow Internet-connected consumers to watch live, anchored news coverage on their connected TV and other devices. At launch, the network is available 24/7 and makes all of the resources of CBS News available directly on digital platforms with live, anchored coverage 15 hours each weekday.
“CBSN is an important example of how CBS is able to leverage the unique strengths, talent and competitive advantages of its businesses to create exciting, highly competitive new services that meet evolving audience preferences for content consumption,” said Leslie Moonves, President and CEO, CBS Corporation. “There’s a tremendous opportunity on these platforms for a true round-the-clock newscast. We’re confident this service will appeal to both traditional news consumers and a whole new set of viewers.”
CBSN will be available on CBSNews.com and its mobile website, key connected TV devices including Amazon Fire TV, Roku players and Roku TV™, and others, as well as the newly launched CBS News app for Windows 8/8.1 and Windows Phone 8/8.1 available through the Windows Store and Windows Phone Store. CBSN will also be available on the CBS News apps for Android and other leading platforms before the end of the year.
The network features a 60-minute format delivering live, updated news content from 9:00 AM – midnight ET every weekday at launch, and it takes advantage of the interactivity of digital platforms through a unique video player and on-screen interface. It gives viewers the full flexibility within each hour to control what they watch and when they watch it via DVR-like functionality that allows them to watch previous segments and jump back into live programming seamlessly and across devices.
Features of the network will include:
· Live, anchored coverage from 9:00 AM – midnight ET every weekday;
· Simulcasts of CBS News special reports for breaking news;
· Additional content from a range of CBS sources including CBS News, CBS affiliate stations, CNET, CBSSports.com, Entertainment Tonight and more;
· Accessibility across key connected TV devices including Amazon Fire TV, Roku players, Roku TV™ and others, as well as additional core CBS News digital platforms including CBSNews.com, its mobile website and the newly launched CBS News app for Windows 8/8.1 and Windows Phone 8/8.1 available through the Windows Store and Windows Phone Store. CBSN will also be available on the CBS News apps for Android and other leading platforms before the end of the year.
· Personal choice and control through DVR-like functionality that enable viewers to watch the segments they’re interested in or tune into the live programming seamlessly;
· The ability to share content from the experience via social media accounts with compatible devices;
· The opportunity for advertisers to reach engaged news consumers with custom ad integrations.
CBS News, a pioneer in broadcast journalism since the earliest days of radio and television, is utilizing its award-winning newsgathering and reporting to redefine it for the digital age. CBSN offers original, up-to-the-minute coverage of national and global stories with dynamic on-demand video content, including video from CBS News’ extensive archives to add context and perspective. Viewers will have immediate access to breaking news reports, feature stories and interviews from among the most experienced teams in video journalism.
“CBSN gives audiences a new window on our original reporting – we’ll make it possible to see CBS News anytime, anywhere,” said David Rhodes, President, CBS News. “We are making an important investment in quality news coverage on any device.”
“CBSN demonstrates our continued advancement in the digital space, as we extend to new platforms and a wider audience,” said Jim Lanzone, President and CEO, CBS Interactive. “We are developing original content exclusively for online, connected platforms in a true interactive format that viewers can control, allowing them to lean back or lean in to the segments and stories that interest them.”
CBSN will be an ad-supported network across all platforms. Inaugural sponsors include Microsoft and Amazon. Other advertisers will also run in the service on all devices.
The live, linear stream will be led by both veteran and new CBS News correspondents.
Jeff Glor is the anchor of the Sunday edition of the CBS EVENING NEWS and Emmy award-winning correspondent for the CBS EVENING NEWS WITH SCOTT PELLEY. Since joining CBS News in 2007, Glor has traveled extensively to report on domestic and international stories.
Elaine Quijano is a CBS News Correspondent reporting for all platforms, including CBS THIS MORNING and the CBS EVENING NEWS, since 2010.
Michelle Miller is an award-winning CBS News Correspondent reporting for all broadcasts and platforms since 2004. Her work regularly appears on the CBS EVENING NEWS WITH SCOTT PELLEY, CBS THIS MORNING and CBS SUNDAY MORNING WITH CHARLES OSGOOD.
Don Dahler is a CBS News Correspondent and an award-winning journalist whose work has appeared on a range of programs and platforms since 2013.
Vladimir Duthiers is a CBS News Correspondent. He joined CBS News in August 2014 from CNN, where he was an international correspondent based in Lagos, Nigeria.
CBS Local Media has entered into an agreement to acquire Eventful, Inc., a leading digital media company in the events discovery, communication and personalization business, it was announced today by Anton Guitano, Chief Operating Officer, CBS Local Media. Terms of the agreement were not disclosed.
Eventful connects consumers with information on millions of concerts, movies listings and local events by using its proprietary algorithms to aggregate, and deliver an ever-growing volume of content from across the United States and around the world. Serving its users via multiple platforms, including online, mobile and email, Eventful creates fan interest profiles and delivers highly personalized recommendations on behalf of artists, publishers and marketers to each of their more than 21 million registered users.
The combination of CBS Local Media and Eventful will:
· Provide users with more engaging content, whether they’re interested in music, entertainment, sports or where to go in their hometown;
· Create new opportunities for marketers to reach consumers through a combination of digital, broadcast and live event platforms;
· Enable Eventful’s growing publisher network of licensees to access CBS Local Media’s award-winning news, information and best of content;
· Empower fans to influence programming and events via its patented crowdsourcing service, Demand it! ®;
· Assist more than 500,000 musicians, comedians, filmmakers and others who have already used Demand it! ® to expand their relationships with fans.
“By offering audiences comprehensive local information all in one place, Eventful has amassed an engaged community that is passionate about finding experiences that match their lifestyle and personal tastes,” said Guitano. “This strategy reflects that of CBS Local Media, making this union a terrific complement to our growing digital business. Broadcast and online audiences will now have more insight into more events. Simultaneously, we are thrilled to offer our clients more options to reach their target customer.”
“The large volume of content available to consumers has created an environment where they are looking for credible brands to aid in the discovery process,” said Ezra Kucharz, President, CBS Local Digital Media. “Eventful’s talented and veteran team has created a best-in-class product that users have grown to trust. In combination with CBS Local Media’s assets and under the division’s leadership, we look forward to satisfying the increasing demand for customized event information regardless of how someone chooses to access it.”
“We are excited to join the CBS Local Media team, which shares our vision for delighting local audiences with highly personalized content,” said Jordan Glazier, CEO of Eventful. “I’m proud of the service that our team has built, and we look forward to working together to further innovate and expand our offerings to a substantially larger community.”
About CBS Local Media
Combining the assets of CBS’s owned television and radio stations, CBS Local Media brings together the most trusted brands in media offering visitors a truly “local” experience. Two dozen major market specific portals, music and lifestyle websites, apps and local commerce platforms take an active role in reaching more than 50 million unique monthly consumers with extensive coverage of news, traffic, weather, sports and entertainment headlines, as well as CBS Local Offers, Best of Guides, and business directories.
Live audio streams and a library of on-demand video from all CBS local market stations are available allowing consumers to experience award-winning original content whether at home, the office or on the go.
MIAMI, April 25, 2021 /PRNewswire/ — Celebriffy published this new monetizing social media platform to provide real freedom and greater monetization control to content creators suffering from demonetizing, low payouts, payment interruption, antifreedom platform rules, and fan relationship limitations pressed by existing social media content publishing platforms. Frustration is killing great content for everyone. The existing power structure has stripped many talented performance artists of their opportunity to share art and build fan networks of value.
Celebriffy , The Newest Monetizing Platform
Celebriffy , The Newest Monetizing Platform
Celebriffy is Building the Best Monetization Platform for professionals and individuals with special skills who want to profit and share their knowledge with others through social media. “I have worked with the Celebriffy visionaries – recording artist and entrepreneur Noelia, Music Producer and Aviation Entrepreneur Jorge Reynoso along with Canadian Businessman and Software Designer Omar Al Atroshi – since they first conceived of this engaging platform that priorities the content creators, and focusses on those with skills to share, avoiding the entertainment aspects of other platforms” said Harvey Kesner, co-founder and counsel. “We want to open social media monetization opportunities for the many who have skills or knowledge they wish to share on social media to earn extra income.”
Celebriffy is the Newest and Hottest Social Media Platform for content creators and professionals to monetize
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Celebriffy believes that ‘content is king’ and creators deserve the lion’s share of revenue generated from their art. From a sane perspective, why should the platforms earn the hundreds of Billions of dollars generated and only pay the tiniest percentage for the content that drives them? Celebriffy reverses the pay and power ratio between platform revenues and talent revenues. The internet should be a medium to provide real freedom of sharing content, allowing groups to gather around shared interest. Celebriffy honors the content makers and creatives that give joy, education, and value to the world by empowering earnings to justify continued art creation and sharing.
The Celebriffy platform gives full freedom and control of content, allowing maximum artistic expression, and its fan interaction features allow for massive live and recorded broadcast with full interaction as well as one-on-one private contact, immediately, upon using the app. All the features of the app are designed to allow talent to build and maintain the strongest fan base, with total independent freedom of choice, down to monetizing control over each individual fan relationship, in unprecedented ways.
The Celebriffy App is free. Your Content is not! Get paid like a Rockstar!
Trending: Get early access to the Celebriffy app here and join the content monetization revolution!
ABOUT CELEBRIFFY
Celebriffy is a powerful content publishing and monetization platform with a user-friendly app, empowering content creators to full control of content value, fan engagement and freedom of expression.
MEDIA CONTACT:
Lori Ripstein
lori@celebrify.app
COMPANY CONTACT:
Raphael Gonzalez
raphael@celebrify.app
STAMFORD, NEW YORK and SYRACUSE, May 26, 2015 – Charter Communications, Inc. (Nasdaq: CHTR) (together with its subsidiaries “Charter”) and Time Warner Cable Inc. (NYSE: TWC) today announced that they have entered into a definitive agreement for Charter to merge with Time Warner Cable. The deal values Time Warner Cable at $78.7 billion. Charter will provide $100.00 in cash and shares of a new public parent company (“New Charter”) equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding. The deal values each Time Warner Cable share at approximately $195.71 based on Charter’s market closing price on May 20, or approximately $200 based on Charter’s 60-trading day volume weighted average price. In addition, Charter will provide an election option for each Time Warner Cable stockholder, other than Liberty Broadband Corporation (“Liberty Broadband”) or Liberty Interactive Corporation, who will receive all stock, to receive $115.00 of cash and New Charter shares equivalent to 0.4562 shares of CHTR for each Time Warner Cable share they own.
In addition, Charter and Advance/Newhouse Partnership (a parent of Bright House Networks, LLC) today announced that the two companies have amended the agreement which the two parties signed and announced on March 31, 2015, whereby Charter will acquire Bright House Networks (“Bright House”) for $10.4 billion. That agreement, as amended, provides for Charter and Advance/Newhouse to form a new partnership (the “Partnership”) of which New Charter will own between approximately 86% and 87% and of which Advance/Newhouse will own between approximately 13% and 14%, depending on the Time Warner Cable shareholders’ cash election option described above. The consideration to be paid to Advance/Newhouse by Charter will include common and convertible preferred units in the Partnership, in addition to $2 billion in cash. The common and convertible preferred partnership units will each be exchangeable into shares of New Charter. The Charter-Advance/Newhouse transaction is expected to close contemporaneously with the Charter-Time Warner Cable transaction.
Charter also announced today that Liberty Broadband Corporation (“Liberty Broadband”) has agreed to purchase, upon closing of the Time Warner Cable transaction, $4.3 billion of newly issued shares of New Charter at a price equivalent to $176.95 per Charter share, which represents Charter’s closing price as of May 20, 2015. As previously-announced, Liberty Broadband will also purchase, upon closing of the Charter-Advance/Newhouse transaction, $700 million of newly issued Charter shares at a price equivalent to $173.00 per Charter share.
Following the close of both the Charter-Time Warner Cable and the Charter-Advance/Newhouse transactions, and depending on the outcome of the cash election feature offered in the Charter-Time Warner Cable transaction, Time Warner Cable shareholders, excluding Liberty Broadband and its affiliates, are expected to own between approximately 40% and 44%1 of New Charter, and Advance/Newhouse is expected to own between approximately 13% and 14% of New Charter. Liberty Broadband is expected to own between approximately 19% and 20% of New Charter.
The combination of Charter, Time Warner Cable and Bright House will create a leading broadband services and technology company serving 23.9 million customers in 41 states. The announced transactions will drive investment into the combined entity’s advanced broadband network, allow for wider deployment of new competitive facilities based WiFi networks in public places, and the footprint expansion of optical networks to serve the large marketplace of small and medium sized businesses. This will result in faster broadband speeds, better video products, including more high definition channels, more affordable phone service and more competition, for consumers and businesses. The scale of the new entity will also result in greater product innovation, bringing new and advanced services to consumers and businesses, including Charter’s Spectrum Guide and World Box and other product innovations. And Charter’s commitment to superior products and outstanding customer service, and its strategy of investing in insourcing and returning offshore jobs to America, will not only benefit the combined companies’ customers, but will also enhance opportunities for employees of the new company.
“The teams at Charter, Time Warner Cable and Bright House Networks are filled with the innovators of our industry. Representatives of each of these companies have invented some of the most revolutionary communications products ever created; innovations like video on demand, VOIP phone service, remote storage DVR, cable TV through an app, downloadable security and the first backward-compatible, cloud-based user interface. That spirit of innovation will live on, and it will create real benefits and great long-term value for the customers, shareholders and employees of all three companies,” said Tom Rutledge, President and CEO of Charter Communications. “With our larger reach, we will be able to accelerate the deployment of faster Internet speeds, state-of-the-art video experiences, and fully–featured voice products, at highly competitive prices. In addition, we will drive greater competition through further deployment of new competitive facilities-based WiFi networks in public places, and the expansion of the facilities footprint of optical networks to serve the large, small and medium sized business services marketplace. New Charter will capitalize on technology to create and maintain a more effective and efficient service model. Put simply, the scale of New Charter, along with the combined talents we can bring to bear, position us to deliver a communications future that will unleash the full power of the two-way, interactive cable network.”
“With today’s announcement, we have delivered on our commitment to maximizing shareholder value,” said Robert D. Marcus, Chairman and CEO of Time Warner Cable. “This agreement recognizes the unique value of Time Warner Cable, and brings together three great companies that share a common philosophy of strong operations, great products, robust network investment and putting customers first. This combination will only accelerate the great operating momentum we’ve seen over the last year and provide enormous opportunities for our 55,000 dedicated employees. We remain wholly committed to bringing the very best experience to our residential and business customers coast to coast.”
“Today’s announcement is good news for customers and potential customers, as well as our employees, since we will be in a stronger position to deliver competitive services, invest in advanced technology, and develop innovative products that will compete with global and national brands,” said Steve Miron, Chief Executive Officer of Bright House Networks. “In addition, I am very pleased that Tom Rutledge will be the CEO of the new company. Tom recognizes the importance of placing a high priority focus on customer care drawing from the expertise of all three companies, and I believe this will be a strong pillar of the new company’s culture.”
New Charter will be led by Tom Rutledge, who will serve as President and CEO. Additionally, Mr. Rutledge will be offered a new five-year employment agreement. At the close of the transactions, New Charter’s Board of Directors will consist of 13 directors including Mr. Rutledge, who will be offered the position of Chairman. The remaining 12 directors will include seven independent directors nominated by the independent directors serving on Charter’s Board of Directors, two directors designated by Advance/Newhouse, and three directors designated by Liberty Broadband. Charter’s current Chairman since 2009, Eric Zinterhofer, will continue to serve on New Charter’s Board.
Pursuant to the agreement between Charter and Advance/Newhouse, Charter and Advance/Newhouse will form the Partnership utilizing an existing subsidiary of Charter Communications Holding Company, LLC, a subsidiary of Charter. New Charter, which will include Time Warner Cable, will contribute substantially all of its assets into the Partnership, and Advance/Newhouse will contribute all of Bright House’s assets into the Partnership. In exchange for its contribution, Advance/Newhouse will receive $5.9 billion of exchangeable common partnership units, and $2.5 billion of convertible preferred partnership units which will pay a 6% coupon. The common and convertible preferred partnership units will each be exchangeable into New Charter Class A common stock, with 34.3 million common units priced at $173.00 (the “Reference Price”) per share, as previously announced. The 10.3 million preferred partnership units will be convertible at $242.19, a 40% premium to the Reference Price. Advance/Newhouse will also receive $2 billion in cash and will receive governance rights reflecting its economic ownership in the partnership through a new class of shares at New Charter.
Upon closing of the Charter-Advance/Newhouse transaction, a new shareholder’s agreement (the “Shareholder’s Agreement”) with Advance/Newhouse and Liberty Broadband will become effective. Under the new agreement, Advance/Newhouse and Liberty Broadband will be granted preemptive rights, allowing each to maintain their pro rata ownership in New Charter. The Shareholder’s Agreement also provides for voting caps and required participation in buybacks at specified acquisition caps, and stipulates transfer restrictions among other shareholder governance matters. In connection with the Charter-Advance/Newhouse transaction as amended, Advance/Newhouse has agreed to grant Liberty Broadband a voting proxy on its shares, capped at 7%, for the five years following the close of the transaction, such that Liberty Broadband would have total voting power of approximately 25% at closing. The proxy excludes votes on certain matters.
The Charter-Time Warner Cable transaction is subject to approval by both Charter and Time Warner Cable shareholders, regulatory review, and other customary conditions. The Charter-Advance/Newhouse transaction is subject to several conditions, including the completion of the Time Warner Cable acquisition (subject to certain exceptions if Time Warner Cable enters into another sale transaction) and a separate vote on the Liberty transactions, and regulatory approval. The three companies expect to close the announced transactions by the end of 2015.
Goldman Sachs and LionTree Advisors are serving as lead financial advisors to Charter in connection with the Time Warner Cable transaction. Guggenheim Securities is also a financial advisor to Charter. BofA Merrill Lynch and Credit Suisse are also financial advisors to Charter, and together with Goldman Sachs and UBS Investment Bank, are leading the financing for the transaction. The law firms Wachtell, Lipton, Rosen & Katz is counsel to Charter and Kirkland & Ellis LLP is representing Charter as financing counsel.
Goldman Sachs and LionTree Advisors are serving as financial advisors to Charter in connection with the Bright House transaction. Wachtell, Lipton, Rosen & Katz is acting as counsel to Charter and Kirkland & Ellis LLP is advising Charter on financing.
Morgan Stanley, Allen & Company, Citigroup and Centerview Partners are financial advisors to Time Warner Cable and its Board of Directors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP, Latham & Watkins LLP and Skadden, Arps, Slate, Meagher & Flom LLP are legal advisors.
UBS Investment Bank is serving as exclusive financial advisor to Advance/Newhouse Partnership and Bright House Networks LLC, and Sabin, Bermant & Gould LLP and Sullivan & Cromwell LLP are acting as legal advisors.
Those participating via telephone should dial 866-919-0894 FREE no later than 10 minutes prior to the call. International participants should dial 706-679-9379. The conference ID code for the call is 54712821. A replay of the call will be available at 855-859-2056 FREE or 404-537-3406 beginning two hours after the completion of the call through the end of business on June 26, 2015. The conference ID code for the replay is 54712821.
1 Legacy Time Warner Cable shareholder stake in New Charter excludes Liberty Broadband Corporation’s current share ownership in Time Warner Cable.
About Charter
Charter (NASDAQ: CHTR) is a leading broadband communications company and the fourth-largest cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter Spectrum TV® video entertainment programming, Charter Spectrum Internet® access, and Charter Spectrum Voice®. Spectrum Business similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. Charter’s advertising sales and production services are sold under the Charter Media® brand. More information about Charter can be found at charter.com.
About Time Warner Cable
Time Warner Cable Inc. (NYSE: TWC) is among the largest providers of video, high-speed data and voice services in the United States, connecting 15 million customers to entertainment, information and each other. Time Warner Cable Business Class offers data, video and voice services to businesses of all sizes, cell tower backhaul services to wireless carriers and enterprise-class, cloud-enabled hosting, managed applications and services. Time Warner Cable Media, the advertising sales arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions. More information about the services of Time Warner Cable is available at www.twc.com, www.twcbc.com and www.twcmedia.com.
About Bright House Networks
Bright House Networks is the sixth largest owner and operator of cable systems in the U.S. and the second largest in Florida, with technologically advanced systems located in five states including Florida, Alabama, Indiana, Michigan and California and two of the top 20 DMAs. Bright House Networks serves approximately 2.5 million customers who subscribe to one or more of its video, high-speed data, home security and automation and voice services. Bright House Networks Business Solutions offers a strong portfolio of video, voice, data, and cloud-based solutions to the small and medium business segments. In addition, Bright House Networks Enterprise Solutions provides advanced, fiber-based telecommunication services to key industry verticals in the mid-market and carrier segments, including cloud-based hosted voice, managed security, and cell backhaul to wireless carriers. The company is Cisco® Master Service Provider-certified under the Cisco Cloud and Managed Service Program, the first cable operator in the United States to achieve this designation. Bright House Networks also owns and operates exclusive, award-winning, local news and sports channels in its Florida markets. For more information about Bright House Networks, or our products and services, visit brighthouse.com.
Comcast has announced that it has signed an agreement with Warner Bros. to start selling the studio’s titles through the Xfinity On Demand digital store. Beginning today, Xfinity TV customers will be able to purchase Warner Bros. movies and TV shows to own and access anytime, anywhere, on any device, often several weeks ahead of DVD release.
Comcast Becomes Nation’s Top Seller of ‘Despicable Me 2’ Days After Launching Digital Store
“We are thrilled to add the Warner Bros.’ hit films and television shows to our rapidly expanding offering of titles available for purchase,” said Michael Schreiber, Senior Vice President of Content Acquisition at Comcast. “Our Xfinity On Demand platform provides customers with the most current content, where and when they want it, and the incredible success of our digital store and cloud-based digital locker will only continue to grow as we expand the platform.”
Gravity, one of the top-grossing movies of 2013, earned 10 Academy Award nominations including Best Actress, Best Director and Best Picture and will be among the first titles for purchase, beginning February 11. Additional Warner Bros. titles that will become available for purchase include: 42, Argo, The Great Gatsby, The Hobbit: An Unexpected Journey, The Lord of the Rings trilogy, Man of Steel, Pacific Rim, Prisoners, We’re the Millers, The Conjuring, The Following, Getaway, The Hangover Part III, and Veronica Mars.
“Comcast is an excellent partner and its Xfinity TV digital storefront is a terrific outlet for Warner Bros.’ great slate of films and TV shows,” said Jim Wuthrich, president of the Americas, Warner Bros. Home Entertainment. “We’re very pleased to see Comcast move into digital sales and we look forward to helping them further expand their digital store.”
In November 2013, Comcast became the first pay-television provider in the country to sell Digital HD content for download and streaming. The company’s Xfinity TV customers quickly embraced the new feature and, according to Universal Pictures, helped make Comcast the nation’s top digital seller of Despicable Me 2 for the week ending December 3.
Comcast customers have the ability to purchase movies and television shows – often weeks before they are available to rent or purchase on Blu-ray and DVD – and store them, seamlessly, in the cloud. Their content can be enjoyed anywhere, anytime, on their TV, PC or mobile devices, without the hassle of managing discs or remembering passwords. Purchased titles are added to the customer’s On Demand menu which is easily accessible on the TV, online at XfinityTV.com or via the Xfinity On Demand Purchases App.
This Press Release is courtesy of www.comcast.com
Comcast Corporation announced this morning that its merger agreement with Time Warner Cable and its transactions agreement with Charter Communications, Inc. have been terminated.
The following is a statement from Comcast Chairman and CEO Brian L. Roberts:
“Today, we move on. Of course, we would have liked to bring our great products to new cities, but we structured this deal so that if the government didn’t agree, we could walk away.
Comcast NBCUniversal is a unique company with strong momentum. Throughout this entire process, our employees have kept their eye on the ball and we have had fantastic operating results. I want to thank them and the employees of Time Warner Cable for their tireless efforts.
I couldn’t be more proud of this company and I am truly excited for what’s next.”
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA, CMCSK) is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. Comcast Cable is the nation’s largest video, high-speed Internet and phone provider to residential customers under the XFINITY brand and also provides these services to businesses. NBCUniversal operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures and Universal Parks and Resorts.
URBANK, Calif. – This summer, DC Entertainment launches a bold new direction for the DC Universe (DCU) that is even more inclusive and accessible to a wider group of readers as the publisher continues to evolve comic storytelling for its next generation of fans. Award-winning, critically acclaimed writers are headlining the June 2015 slate of DC Comics’ new periodicals and graphic novels, including Gene Luen Yang, Bryan Hitch, Garth Ennis and Ming Doyle.
Beginning June 3rd, the DC Comics line of comic books will consist of 24 brand-new series that will begin at issue number one, as well as 25 on-going, bestselling fan favorite series that will continue without a break in the issue numbering. The total number of periodicals in the DCU will be 49, with additional new titles debuting throughout the year.
“This heralds in a new era for the DC Universe which will allow us to publish something for everyone, be more expansive and modern in our approach and tell stories that better reflect the society around us,” said DC Entertainment Co-Publisher Dan DiDio. “Whether you’ve been a DC fan your whole life, or whether you are new to comics – there will be a book for you beginning in June.”
DC Comics will be keenly focused on going back-to-basics with its legendary characters, like BATMAN, SUPERMAN and WONDER WOMAN, while also reinventing key characters, such as BLACK CANARY, BIZARRO, CYBORG and STARFIRE, with a new contemporary tonality to ensure a diverse offering of titles. Top writers and artists, as well as emerging fresh voices, are on board to help create an expansive lineup of comics that appeals to a broad audience of fans.
Depicting some of these iconic characters in a more contemporary light include National Book Award finalist Gene Luen Yang who will join artist John Romita Jr. in the ongoing adventures of SUPERMAN. Comic superstar artist Bryan Hitch will write and draw new tales of the world’s greatest heroes in JUSTICE LEAGUE OF AMERICA. The pitch perfect team of Garth Ennis and John McCrea returns to DC Comics for a limited series called SECTION EIGHT featuring characters from their popular Hitman comic. VERTIGO creator Ming Doyle will be lending her talents to DC Comics, penning CONSTANTINE: THE HELLBLAZER along with newcomer artist Riley Rossmo.
“More than ever before, DC Comics fans are being exposed to our rich portfolio of characters through multiple sources, including an unprecedented number of highly successful TV shows, video games and upcoming major motion pictures,” said Co-Publisher Jim Lee. “We are looking to extend that experience within publishing to ensure there is a comic book for everyone. For example, fans of the ARROW television show may want more stories about BLACK CANARY. Now they can find modern, fresh takes on the character in the pages of her standalone series both in stores and digitally.”
DC ENTERTAINMENT
Breakout star, Brenden Fletcher, co-writer behind the all new, highly successful BATGIRL book will also be writing the new BLACK CANARY series launching in June. Fan favorites Amanda Conner and Jimmy Palmiotti will be the creative team on new titles STARFIRE and HARLEY QUINN/POWER GIRL and will continue to helm the perennially bestselling HARLEY QUINN.
“Beyond character and creators, the June slate will showcase different styles and approaches to storytelling as we add offbeat, irreverently funny titles such as BIZARRO, BAT-MITE and PREZ,” said Lee. “Truly there will be something for everybody as we simultaneously celebrate our rich legacy while embracing new voices and concepts.”
A first look at upcoming storylines will be the focus of DC Entertainment’s Free Comic Book Day issue – DC COMICS: DIVERGENCE – available Saturday, May 2, featuring three 8-page previews for the June releases of Scott Snyder and Greg Capullo’s BATMAN, as well as Geoff Johns and Jason Fabok’s launch of the Darkseid War within JUSTICE LEAGUE featuring the biggest villains in the DCU – Darkseid and the Anti-Monitor, and Gene Luen Yang’s DC Comics debut with celebrated artist John Romita, Jr on SUPERMAN. More than half-a million free issues of the DC Entertainment sampler will be given away at comic book retailers globally.
“In this new era of storytelling, story will trump continuity as we continue to empower creators to tell the best stories in the industry,” said DiDio.
To learn more about the June DC Universe slate, visit http://www.dccomics.com/.
About DC Entertainment:
DC Entertainment, home to iconic brands DC Comics (Superman, Batman, Green Lantern, Wonder Woman, The Flash), Vertigo (Sandman, Fables) and MAD, is the creative division charged with strategically integrating its content across Warner Bros. Entertainment and Time Warner. DC Entertainment works in concert with many key Warner Bros. divisions to unleash its stories and characters across all media, including but not limited to film, television, consumer products, home entertainment and interactive games. Publishing thousands of comic books, graphic novels and magazines each year, DC Entertainment is the world’s largest English-language publisher of comics.
Unique digital football business Dugout and News Corp today revealed plans for the landmark acquisition by Dugout of News Corp’s mobile and online platform ballball, which delivers near-live highlights of the world’s leading football leagues and other great content to the fastest growing football markets in South-East Asia.
The move highlights Dugout’s focus on expanding its global presence and providing football fans around the world with access to the best content from the biggest football clubs and players in the world.
Dugout represents the first time the world’s biggest clubs have joined forces to create a business – with partners including AC Milan, Arsenal FC, Chelsea FC, FC Barcelona, FC Bayern Munich, Juventus, Liverpool FC, Manchester City FC, Paris Saint-Germain, Real Madrid CF, Inter Milan, Roma, Napoli, Tottenham Hotspur, Atletico Madrid and more.
ballball.com was launched by News Corp in August 2013 and is now one of the leading football video platforms in South-East Asia. The platform distributes an unprecedented collection of short-form highlights from European and other top football leagues to the region – generating 800 million video views during the 2017-18 football season.
The agreement to acquire ballball will see Dugout showcase the mobile and online platform’s unique aggregation of football content in two key territories – Vietnam and Indonesia – through a ballball section on the Dugout platform, with plans to expand into other countries in the region. From today, the best of Dugout’s content will also be showcased on ballball.com.
The acquisition will lead to the creation of a new Dugout entity – Dugout SE Asia – which will be headquartered in Singapore and will lead the expansion of Dugout in the region.
While parent company Dugout will be the majority shareholder of Dugout SE Asia, News Corp will also have a stake in the new business. This strategic partnership will include senior News Corp executive Simon Greenberg sitting on the board of Dugout SE Asia.
Elliot Richardson, Founder and Chairman of Dugout, said: “We are delighted to have agreed the purchase of ballball, which has been hugely successful in bringing great football content from the world’s best leagues to fans in South-East Asia. We’re now looking forward to complementing that platform with Dugout’s unique ingredient: embedded partnerships and access to the best players and clubs in the world.”
“Our aim with Dugout was to make it the digital football destination of choice by aligning clubs/players with brands and fans. We have already created over 15,000 hours of exclusive video content with our partners, and with access to incredible archive and new content themes, this will unlock more stories for fans to view of the clubs and players they love. The purchase of ballball will show the continued momentum behind the business and the chance to work with News Corp as a partner is so exciting. We know that South-East Asia is a hugely important territory for football clubs and the brands we work with, so we look forward to giving football fans in the region a great experience.”
Simon Greenberg, News Corp’s Global Head of Rights and future Dugout SE Asia board member, said: “We are very excited that News Corp is forging this new partnership with Dugout, a unique business that brings with it incredible connections across the world of football. In today’s rapidly changing media environment, it’s essential to work with strong and innovative partners like Dugout that recognise the value of premium content.”
“With football the fastest growing sport in the world – and Asia the fastest growing region – we launched ballball on mobile, the fastest growing platform, in 2013 and we are very proud of all that’s been achieved since. The team has built an unparalleled digital expertise and reputation to make it the go-to mobile destination for football highlights in the region. Dugout recognises the value of that work and together we can use this foundation to create a very compelling mobile offering for the many millions of football fans in SE Asia.”
All 77 clubs (and a growing number of players) on Dugout have a dedicated profile to upload content and interact with fans, meaning that Dugout users get a totally personalised experience based on the clubs and players they follow. The business launched in late 2016 and has already gathered over 67 million unique users and 912 million video views to date. Dugout has a social footprint of 2.1 billion and over 12,500 videos have been posted on the platform by clubs, players and brands.
Dugout has recently announced a number of other strategic partnerships to support the business’ objective of expanding its global presence. For example, in December Dugout launched a partnership with Major League Soccer (MLS) – boosting the brand’s global profile and tapping into the growing popularity of football in North America.
This approach reflects Dugout’s core belief in “localisation of content” – giving partners and brands detailed analytics that enable them to better understand audience behaviour and tastes in specific markets, in order to boost fan engagement.
The company has also signed deals with innovative tech companies like VEWD, SPOTX, Rakuten/Viber and Amazon to reach more users and provide brands advertising on the platform with better engagement, cutting-edge user consumer targeting and detailed analytics.
About ballball
ballball.com was launched by News Corp in August 2013 and is now one of the leading football video platforms in South-East Asia. It distributes short form highlights from Europe and other top football leagues in Indonesia and Vietnam and in the 2017-18 season ballball generated 800 million video views for this content, representing 966% growth FY15-FY17.
ballball is the 4th largest football destination on Facebook in both Indonesia and Vietnam (combined population 340 million+) and has developed partnerships and distribution with a number of regional blue-chip partners from the digital media and telco sectors to further maximise its reach.
ballball is based in Singapore and has a staff of 5, as well as freelancers and in-market translation teams. The rights content agreements are held by ballball.com’s parent company NWS Digital Asia Pte Ltd, which remains a News Corp owned subsidiary.
About Dugout
Dugout represents the first time the world’s biggest clubs have joined forces to support a business. Since launching in December 2016, 77 clubs, one National Football Federation and two Leagues have all signed partnerships with the platform.
Each club and player has a dedicated Dugout profile to upload content and interact with fans and Dugout users get a totally personalised experience based on the clubs and players they follow.
Dugout works with its partners to create high-quality, original content, both using unrivalled social reach and on platform which includes videos from clubs that are exclusive to Dugout, lifestyle and personal updates from players, and original video series featuring ball skills and tricks from players that can’t be seen anywhere else.
For details on b2b offering, please go to http://www.dugoutworldwide.com
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
Brussels, QUESTIONS AND ANSWERS
I. Modernisation of the Audiovisual Media Services Directive
Why is the Audiovisual Media Services Directive being revised?
The media landscape has shifted dramatically in less than a decade. Instead of sitting in front of the family TV, millions of Europeans, especially young people, watch content online, on demand and on different mobile devices.
Children are watching less traditional TV: the average daily viewing time for young Europeans was 2 hours in 2014 i.e. about half as much as the average viewer (source).
Global internet video share in consumer internet traffic is expected to increase from 64% in 2014 to 80% by 2019 (source).
Audiovisual media also increasingly target markets across national borders. At the end of 2013, more than 5,000 TV channels (not counting local channels and windows) were established in the EU. Of these, almost 2,000 targeted foreign markets (either EU or extra-EU). This share had increased from 28% in 2009 to 38% in 2013 (source). As far as video-on-demand services are concerned, 31% of the video-on-demand services available in a Member State are established in another EU country (source). This underpins the continued added value of the EU action in this area.
Taking these new developments into account, as well as a thorough evaluation (REFIT) of the current Audiovisual Media Services Directive (AVMSD), the Commission today presented updated rules to find a better balance of the rules which apply to traditional broadcasters, video-on-demand providers and video-sharing platforms, especially when it comes to protecting children. It proposes to have more common rules at EU level to provide clarity and legal certainty to consumers and businesses across borders.
Which type of audiovisual media services are covered by the new Directive?
The existing rules already cover traditional TV and video on-demand services. The new proposal foresees a limited extension of its scope to video-sharing platforms which tag and organise the content, for example YouTube.
Member States should ensure that video-sharing platforms put in place measures to:
i. protect minors from harmful content (which may impair the physical, mental or moral development); access to which would have to be restricted; and
ii. protect all citizens from incitement to hatred.
Implementation of the new regime would be encouraged via co-regulation: the proposed rules provide basic requirements and partners who share responsibility contribute to fulfilling objectives.
What does the Directive consider to be a video-sharing platform?
In the proposal, a video-sharing platform is defined as a commercial service addressed to the public which:
stores a large amount of programmes or user-generated videos, for which the video-sharing platform provider does not have editorial responsibility;
where the content is organised in a way determined by the provider of the service, in particular by hosting, displaying, tagging and sequencing;
where the principal purpose of the service (or a dissociable section thereof) is devoted to providing programmes and user-generated videos to the general public, in order to inform, entertain or educate;
is made available by electronic communications networks.
As a general rule, social media, such as Facebook or other services, do not have as a principal purpose the provision of programmes or user-generated videos to the public. Of course, this may evolve with time and if a particular social media provider meets all the characteristics of a video-sharing platform, they will be covered as such.
While newspaper websites remain outside the Directive, standalone parts of newpaper websites which feature audiovisual programme or user-generated videos will be considered as video-sharing platforms for the purpose of the AVMSD. However, any occasional use of videos in websites, blogs, newspapers will be outside the scope of the Directive.
As with any Directive, the AVMSD will be implemented in national law. On the basis of the criteria set by the Directive, national audiovisual regulators will determine the players which are covered. The Commission’s monitoring of the implementation of the Directive will ensure a consistent approach.
What is the country of origin principle? How will it be improved?
The aim of the country of origin principle is to protect media service providers established in one Member State from any restriction imposed by other EU Member States receiving their services. Audiovisual providers do not need to comply with 28 different rules, only with those of the country where they are established.
The Commission proposes to confirm and facilitate the country of origin principle in three ways:
it will be easier to establish the country whose rules apply to each provider, thanks to a database which will contain an up-to-date list of providers under Member States’ jurisdiction;
this information will be accessible to all Member States and regulators; and
the mechanisms foreseen in cases of exceptions to the country of origin will be improved.
What is proposed for advertising?
Today’s proposal aims to strike the right balance between strong consumer protection, more specifically the protection of minors, and a more flexible system for TV broadcasters, taking into account new market realities.
The proposed rules strengthen provisions to protect minors from inappropriate audiovisual commercial communications of foods high in fat, salt/sodium, sugars by, where necessary, encouraging codes of conduct at EU level.
Tobacco advertising remains forbidden in all types of media. For alcohol advertising, the Commission wants also to encourage further development of self- or co-regulation, also at EU level if necessary, to effectively limit the exposure of minors to such ads. Member States can apply stricter rules and can, for example, ban alcohol advertisements or adopt other measures.
The overall limit of 20% of broadcasting time is maintained between 7 am and 11 pm, but instead of the current 12 minutes per hour, broadcasters can choose more freely when to show ads throughout the day.
The transmission of TV films, cinematographic works and news programmes can be interrupted only once every 20 minutes
Broadcasters and on-demand providers will also have greater flexibility to use product placement and sponsorship, while keeping viewers informed at the beginning and/or end of a programme. Product placement will however remain forbidden in programmes with a significant children’s audience.
These different measures are expected to have a positive economic impact for media services providers – mainly TV broadcasters – and increase their capacity to invest in audiovisual content. This is important for the competitiveness of the EU audiovisual industry.
How will the protection of children from harmful and illegal content be strengthened?
Children watch less and less TV and more and more on-demand and online videos. However, the current AVMSD protects them more on TV and less in the online world. This inconsistency will now be fixed. Proposed rules:
require that programmes that may impair the physical, mental or moral development of minors (harmful content) are only made available in such a way as to ensure that minors will not normally hear or see them. This is regardless of whether such programmes are broadcast by TV broadcasters or provided by on-demand providers. Different rules apply for video-sharing platforms, where the Commission wants to support a co-regulatory approach: the Commission will invite all video-sharing platforms to work within the Alliance to better protect minors online, with an aim to come up with a code of conduct for the industry, while national audiovisual regulators will have the power to enforce the rules.
Require that the most harmful content, such as gratuitous violence and pornography, shall be subject to the strictest measures providing a high degree of control (such as age verification or pin codes).
Encourage EU co-regulation on content descriptors (words or symbols warning of bad language, sex, violence, drugs, discrimination) which provide sufficient information to viewers about the possible harmful nature of the content. The Commission wants the industry to develop common content descriptors because age ratings without additional explanations on this rating do not always give sufficient information to parents. This will empower parents to make decisions for their children or for children to make decisions for themselves.
How is European culture strengthened by the new Directive?
While European TV broadcasters invest around 20% of their revenues in original content, this figure represents less than 1% for on-demand providers (source). The proposal therefore will aim at encouraging new investment in European works.
Under proposed rules, TV broadcasters will continue to be obliged to broadcast at least 50% share of European works (including national content) in viewing time. Video-on-demand services – which already have to promote European works under current rules – are subject to more specific obligations: they need to ensure at least 20% share of European content in their catalogues and should give a good visibility (prominence) to European content in their offers.
Current rules already foresee that promotion of European works can also be carried out, amongst others, through financial contributions to the production and rights acquisition of European works. Member States have the option to require on-demand audiovisual media services under their jurisdiction to contribute in this way. The new rules give the possibility for Member States to impose financial contributions (direct investments or levies payable to a fund) upon on-demand services, including to those established in a different Member State but targeted at their national audiences. This would be a voluntary measure for Member States, not an obligation at EU level.
The reason for this clarification is that current rules can lead to “forum shopping” practices (i.e. on-demand services establishing themselves in Member States with light or no financial obligations). This in turn can create competition distortions. Financial contributions will only be able to be imposed on the revenues generated in the imposing country. Clarifying that Member States can impose financial contributions is considered as a justified and balanced way to limit “forum shopping” practices without undermining the country of origin principle.
The proposed rules also include a mandatory exemption for companies with a low turnover and low audiences as well as small and micro enterprises. It could also be inappropriate to impose such requirements in cases where – given the nature or theme of the on-demand audiovisual media services– they would be impracticable or unjustified.
Overall, strengthening the promotion of European works for on-demand services will lead to a broader and more diverse offer for Europeans. This will have a positive impact on cultural diversity and bring more opportunities for European creators.
Why is a quota needed at EU level? Won’t it be an extra-burden for businesses?
Quotas already exist in more than half of EU Member States (see impact assessment, Annex XIII). This is required either as a standalone obligation (e.g. Cyprus, Hungary, Lithuania, Malta, Slovakia) or in combination with other joint or alternative obligations (e.g. France, Croatia, Czech Republic, Italy, Poland, Romania, Slovenia, Spain). The required shares in the catalogues vary considerably between Member States (10-60%). This is why minimum harmonisation at EU level is needed, so that all Europeans can have access to at least some European audiovisual content.
It should not be an extra-burden for businesses: on average, in the EU, European films already account for 27% of all films available in video-on-demand catalogues (according to a 2015 study by the European Audiovisual Observatory).
More specifically:
– Share of EU films in 75 video-on-demand (VoD) catalogues: 27%
– Share of EU films in 16 subscription VoD catalogues: 30%
– Share of EU films in Netflix: 21%
– Share of EU films in iTunes: 21%
The proposed rules also include a mandatory exemption for companies with a low turnover and low audiences as well as small and micro enterprises. It could also be inappropriate to impose such requirements in cases where – given the nature or theme of the on-demand audiovisual media services– they would be impracticable or unjustified.
How can video-on-demand services give adequate prominence to European works?
There is a wide range of tools to ensure visibility of European works, e.g. indicating the country where a film or series comes from; providing possibilities for searching for European works; placing information and materials promoting European works, including in the home/front page; using trailers or visuals.
How will the Directive increase the independence of regulatory authorities for audiovisual media services?
The proposal includes a requirement for Member States to have independent regulatory authorities for audiovisual media services. They will have to fulfil the criteria of independence listed in the Directive. The regulator :
should be legally distinct and functionally independent of any other public or private body.
should not seek or take instructions from any other body in relation to the exercise of the tasks.
should exercise its powers impartially and transparently and in accordance with the objectives of the AVMSD in particular media pluralism, cultural diversity, consumer protection, internal market and the promotion of fair competition.
should have its competences and powers clearly defined in law.
should have adequate enforcement powers to carry out their functions effectively.
Also, the head of a national regulatory authority or the members of the collegiate body may be dismissed only if they no longer fulfil the conditions required for the performance of their duties.
The Commission will monitor the application of these principles in the Member States, and could take action if they are not respected.
What is the role of the European Regulators Group for Audiovisual Media Services (ERGA)?
The proposal reinforces the role of the European Regulators Group for Audiovisual Media Services (ERGA) by giving it more tasks when advising and assisting the Commission in the consistent implementation of the Directive in all Member States.
ERGA will be given specific tasks intended to approach Member States’ positions. For instance, upon the Commission’s request, ERGA will issue opinions in the context of the country of origin derogation mechanisms. Moreover, ERGA is tasked with supporting the adoption of codes of conduct at EU level.
What are the next steps?
The current AVMSD will continue to apply until the revised Directive enters into force. The Commission is calling the European Parliament and the Council of the EU (representing Member States) to adopt the text as soon as possible. The Commission proposes that Member States have one year to transpose the Directive into their national legislation.
II. Platforms
What are online platforms and why are they important?
Online platforms cover a wide range of activities including online advertising platforms, marketplaces, search engines, social media and creative content outlets, application distribution platforms, communications services, payment systems, and collaborative economy platforms.
They share key characteristics including the use of information and communication technologies to facilitate interactions (including commercial transactions) between users, collection and use of data about these interactions, and network effects which make the use of the platforms with most users most valuable to other users.
Some examples of online platforms are: eBay, Amazon Marketplace, Google and Bing Search, Facebook and YouTube, Google Play and App Store, Facebook Messenger, Google’s AdSense, Zalando marketplace, BlaBla Car and Uber.
Online platforms are strong drivers of innovation and play an important role in Europe’s digital society and economy. They increase consumer choice, improve efficiency and competitiveness of industry and can enhance civil participation in society.
Why is an EU policy approach to platforms necessary?
The platform economy presents major innovation opportunities for European industry, SMEs and startups to develop new business models, products and services. Creating the right environment is essential to retain, grow and foster the emergence of new online platforms in Europe. A coherent EU approach is needed to avoid fragmentation and obstacles in the Digital Single Market. Different national rules can otherwise create uncertainty for economic operators, make scaling-up more difficult for startups and limit the availability of digital services. In this respect, the Commission will in early June adopt a European agenda for the collaborative economy, including guidance on how EU law applies specifically to collaborative economy platforms and recommendations to Member States on how to ensure a balanced development of this market.
The Commission aims to ensure a balanced regulatory framework which allows consumers and businesses in the EU to benefit from the development and scaling-up of online platforms and which also protects the legitimate interests of users and fundamental values.
In order to assess the scope for further action the Commission has undertaken a comprehensive assessment which included a public consultation, engagement with stakeholders in workshops and studies.The stakeholder consultation process flagged a number of concerns related to online platforms. For example, respondents expressed concern about:
the lack of level-playing field in certain sectors;
the lack of transparency;
certain business-to-business practices; and
the tackling of illegal content online.
The Commission will only consider targeted policy measures (regulatory, self- or co-regulatory) on the basis of:
(i) clearly identified problems relating to a specific type or activity of online platforms, and
(ii) upon in-depth evaluation of the sufficiency and adequacy of the existing regulatory framework.
How do the Commission’s existing policies support platforms?
The Digital Single Market strategy, the Single Market strategy and the Capital Markets Union, as well as investment through the research and innovation programme Horizon 2020 and through the Investment Plan for Europe will help EU-born platforms to emerge and thrive. Initiatives such as StartUpEurope can also help create the right environement for new tech players.
Further action is needed to sustain this growth, to address barriers caused by different national approaches, and to ensure that the rules which already apply to platforms are correctly applied.
Does the Commission want to regulate platforms?
Today’s Communication on platforms does not propose a new general law on online platforms, nor does it suggest to change the liability regime set by the e-Commerce Directive.
The aim is to make sure that platforms can be created, scale up and grow in the European Union. To reach this goal we need a functioning Digital Single Market where online platforms (both startups and established market operators) are not hampered by heavy regulation.
Online platforms are already subject to EU legislation such as consumer and data protection rules, and competition law. New initiatives will only be taken to tackle any specific problems identified and only if it is established that better enforcement of existing rules is not sufficient to address these.
In our approach to online platforms, we will be guided by the following principles:
a level-playing field for comparable digital services
responsible behaviour of online platforms to protect core values,
transparency and fairness for maintaining user trust and safeguarding innovation,
open and non-discriminatory markets in a data-driven economy.
What does the Commission propose to do?
In line with the principles set forth in the Communication on Online Platforms, the next steps related are:
A level-playing field for comparable digital services
A review of of EU telecoms legislation, and of the e-Privacy Directive are expected by the end of the 2016. As part of its review of EU telecoms rules the Commission is looking at partial deregulation of traditional communication services, where they face competition from platforms and other digital players, and at the merits of applying certain communications-specific rules to all comparable services to better protect users. In the new e-Privacy Directive the Commission will consider, for example, extending data protection obligations currently applicable only to telecoms companies to platforms.
Ensuring that online platforms behave responsibly
In the third quarter of 2016, the Commission will propose a copyright reform package aiming to achieve a fairer allocation of value generated by the online distribution of copyright-protected content by online platforms providing access to such content.
In relation to the liability regime of online intermediaries established by the e-Commerce Directive, the Commission will assess:
o the need for guidance on the liability of online platforms when putting in place voluntary measures to fight illegal content online [starting in the second half of 2016], and
o the need for a formal notice-and-action procedures [after taking due account of the updated audiovisual media and copyright frameworks].
In addition to revised audiovisual media rules, the Commission will further encourage coordinated EU-wide self-regulatory efforts by online platforms in tackling illegal content online. The Commission is currently discussing with IT companies on a code of conduct on combatting hate speech online.
Fostering trust, transparency and ensuring fairness
In view of informing and empowering citizens and consumers:
o The Commission will further promote interoperability actions, including through issuing principles and guidance on secure electronic identifications (eID) interoperability at the latest by 2017.
o The Commission will encourage industry to step up voluntary efforts, which it will help in framing, to prevent trust-diminishing practices (in particular, but not limited to, tackling fake or misleading online reviews) and monitor the implementation of the self-regulatory principles agreed on comparison websites and apps.
o The Commission will continue the ongoing evaluation (REFIT) of key pieces of EU market and consumer law and their application to online platforms and collaborative economy.
In view of safeguarding a fair and innovation-friendly business environment, the Commission will launch a targeted fact-finding exercise of business-to-business practices in the online platforms environment. By spring 2017 the Commission will determine if additional EU action is necessary.
Keeping markets open and non-discriminatory to foster a data-driven economy
The free-flow-of-data initiative (due for the end of 2016) will consider options for effective approaches, including technical standards, to facilitate switching and portability of data among different online platform and cloud computing services, both for business and private users. In this context, the Commission will also examine the potential barriers to a single EU data market that may arise from legal uncertainties regarding the ownership and usability of — or access to — data, including issues related to application programming interfaces.
What about the liability regime in the e-Commerce Directive?
The e-Commerce Directive foresees that internet intermediary service providers should not be liable for the content that they hold and transmit passively. At the same time when illegal content is identified, intermediaries should take effective action to remove it, whether it be information that is illegal (e.g. terrorism/child abuse) or information that infringes the property rights of others (e.g. copyright).
Today’s Communication on platforms does not propose any changes to the liability regime in the e-Commerce Directive. The Commission will not oblige online platforms to generally monitor content. As a complement, the Commission will, however, look into the possibility to tackle illegal content also by voluntary and self-regulatory action.
However, the Commission’s stakeholder consultation indicated the need to explore potential problems for platforms when putting in place voluntary measures to fight illegal content online and further review the need for a clarification of the notice-and-action procedures. The Commission will therefore undertake further analysis in the coming year to explore whether EU action is warranted in these areas.
How will you address people’s concerns about how platforms use their data?
Access to data spurs efficiency and innovation. However, many people are concerned about data collection and want to know what data is collected and how it is shared and used. The Commission believes platforms need to respond to these concerns and comply with existing data protection rules. The Commission also believes that improved enforcement of current rules as well as better compliance will increase trust.
The Commission will also promote interoperability actions and encourage platforms to recognise electronic identifications (eID), in particular those identified under the Regulation on electronic identification and trust services for electronic transactions in the internal market (eIDAS), to improve consumer and data protection.
How will you address issues relating to potential unfair practices in business-to-business relations?
The results of the public consultation on platforms highlighted a number of concerns from suppliers about allegedly “unfair” practices e.g. platforms imposing unfair terms and conditions, in particular for access to important data bases; platforms refusing access to markets or essential business data necessary for suppliers; platforms promoting their own service to the disadvantage of third-party supplier.
Beyond the application of competition policy which addresses competition between market players, it is vital that more evidence is obtained on the prevalence of such “unfair” trading practices. This is all the more important in light of the fact that some Member States are already in the process of introducing or considering the introduction of platform-specific measures to address some of these unfair trading practices, risking fragmentation of the Digital Single Market. In order to assess the extent of any potential problems we will, therefore, further engage with public authorities and stakeholders to find out more about such practices in the online platform world and will decide if further action to address fairness in business-to-business relations is necessary in 2017.
EL SEGUNDO, Calif. and ENGLEWOOD, Colo., Jan. 26, 2014 – DIRECTV (NASDAQ: DTV) and DISH Network L.L.C., a wholly owned subsidiary of DISH Network Corporation (NASDAQ: DISH), have joined forces to offer an addressable advertising platform of unprecedented scale and reach for political campaigns. The strategic relationship will allow participating statewide political campaigns to target their TV ads at the household level within 20+ million DIRECTV and DISH homes.
The DIRECTV-DISH arrangement will focus on political TV advertisements only, while the companies’ other media sales efforts will continue to operate independently.
“The DIRECTV/DISH addressable advertising platform utilizes highly sophisticated and targeted technology that will allow political campaigns to specifically reach swing voters with TV ads. Campaigns can focus their message to a precise set of potential voters and eliminate the spending waste,” said Keith Kazerman, senior vice president of ad sales, DIRECTV. “The platform not only uniquely monetizes big data, which has become critical to every political campaign, but it does it at scale. It’s the perfect complement to local DMA cable buys and a fiscally compelling alternative to local broadcast.”
“Individually, DISH and DIRECTV have pioneered household-addressable advertising across a national footprint for more than two years,” said Warren Schlichting, senior vice president of DISH media sales. “As campaigns utilize more and more data, household-addressable advertising introduces a powerful tool to deliver a tailored message to a precise and measurable audience. Together, DISH and DIRECTV reach nearly one out of every five U.S. television households and usher TV into the modern political age.”
DIRECTV and DISH utilize the same technology to deliver addressable advertising at the household level to a combined audience of more than 20 million households.
Using the same methodology of direct mail, addressable advertising allows advertisers to reach their desired audience with accuracy and combines the emotional impact of TV with nationwide reach and scale.
This Press Release is courtesy of www.dish.com
BURBANK, Calif. and NEW YORK, New York – The Walt Disney Company (NYSE:DIS) and Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: TFCFA, TFCF), in connection with Disney’s acquisition of 21CF (the “Acquisition”), announced today that the per share value of the Merger Consideration (as defined below) has been calculated in accordance with the Merger Agreement (as defined below) to be $51.572626 (the “Per Share Value”. See footnote1). The Acquisition will become effective at 12:02 a.m. Eastern Time tomorrow, March 20, 2019.
At the effective time of the Acquisition, each share of 21CF common stock will be exchanged for $51.572626 in cash (the “Cash Consideration”) or 0.4517 shares of common stock of TWDC Holdco 613 Corp., the holding company that will own both Disney and 21CF following the Acquisition (“New Disney”) (the “Stock Consideration”, and together with the Cash Consideration, the ”Merger Consideration”), subject to election, proration and adjustment procedures set forth in the Amended and Restated Agreement and Plan of Merger(the “Merger Agreement”), dated as of June 20, 2018, by and among 21CF, Disney, New Disney, and certain of Disney’s other subsidiaries. The number of shares of New Disney common stock comprising the Stock Consideration was determined by dividing the Per Share Value by $114.1801, which was the volume weighted average trading price of a share of Disney common stock on the New York Stock Exchange over the fifteen consecutive trading day period ending on (and including) March 15, 2019.
“This is an extraordinary and historic moment for us—one that will create significant long-term value for our company and our shareholders,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”
The acquisition of 21st Century Fox’s iconic collection of businesses and franchises will allow Disney to provide more appealing high-quality content and entertainment options to meet growing consumer demand; increase its international footprint; and expand its direct-to-consumer offerings, which include ESPN+ for sports fans, the highly-anticipated Disney+ streaming video-on-demand service launching in late 2019; and Disney and 21st Century Fox’s combined ownership stake in Hulu.
The acquisition includes 21st Century Fox’s renowned film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky and Endemol Shine Group. Disney and 21st Century Fox entered into a consent decree with the U.S. Department of Justice last year under which Disney will divest 21st Century Fox’s Regional Sports Networks.
Earlier today, 21st Century Fox completed the spin-off of a portfolio of 21st Century Fox’s news, sports and broadcast businesses, including the FOX News Channel, FOX Business Network, FOX Broadcasting Company, FOX Sports, FOX Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network, and certain other assets and liabilities, into Fox Corporation.
Disney is also acquiring approximately $19.8 billion of cash and assuming approximately $19.2 billion of debt of 21st Century Fox in the acquisition. The acquisition price implies a total equity value of approximately $71 billion and a total transaction value of approximately $71 billion.
The acquisition is expected to be accretive to Disney earnings per share before the impact of purchase accounting for the second fiscal year after the close of the transaction, and to yield at least $2 billion in cost synergies by 2021 from operating efficiencies realized through the combination of businesses.
1On March 19, 2019, 21CF distributed to holders of shares of 21CF common stock (other than holders that are subsidiaries of 21CF) all of the issued and outstanding common stock of Fox Corporation (“FOX”) on a pro rata basis (the “Distribution”). As a result of the Distribution, 0.263183 of each share of 21CF common stock outstanding immediately prior to the Distribution was exchanged for 1/3 of one share of FOX common stock of the same class, and holders continued to hold the remaining 0.736817 of each share of 21CF common stock. The 0.736817 of each share of 21CF common stock remaining outstanding following the Distribution will be exchanged for the amount of consideration in the Acquisition that a whole share of 21CF common stock would have been exchanged for before giving effect to the Distribution. To accomplish this, the consideration that holders will receive in the Acquisition is automatically adjusted pursuant to the Merger Agreement to take the Distribution into account by multiplying the value of such consideration ($38.00) by the Distribution Adjustment Multiple (1.357190).
About Disney
Disney, together with its subsidiaries, is a diversified worldwide entertainment company with operations in four business segments: Media Networks; Parks, Experiences and Products; Studio Entertainment; and Direct-to-Consumer and International. Disney is a Dow 30 company and had annual revenues of $59.4 billion in its Fiscal Year 2018. For more information about Disney, please visit www.thewaltdisneycompany.com.
The Department of Justice announced today that it will require Gannett Co. Inc., Belo Corp. and Sander Media LLC to divest their interests in KMOV‑TV, a CBS affiliate in St. Louis, in order to proceed with Gannett’s acquisition of Belo, and Sander’s related acquisition of six Belo television stations that Gannett cannot hold under Federal Communications Commission (FCC) rules. The department said that, without the required divestiture, Gannett would have gained a dominant position in broadcast television spot advertising in the St. Louis area, resulting in higher prices advertisers.
In addition to acquiring the six stations from Belo, Sander will enter into several agreements with Gannett in order to both finance purchasing the stations and facilitate operating the stations. KMOV-TV is one of the six stations Sander would acquire from Belo and would be subject to agreements between Sander and Gannett. These agreements, however, do not include any joint negotiation of retransmission rights in St. Louis. The Gannett-Belo acquisition is valued at approximately $2.2 billion.
The department’s Antitrust Division filed a civil antitrust lawsuit today in the U.S. District Court for the District of Columbia to block the proposed acquisition and related agreements between Gannett and Sander, including an option for Gannett to assign or acquire the Belo stations sold to Sander, a financing guarantee and a long-term shared services agreement. At the same time, the department filed a proposed settlement that, if approved by the court, would resolve the competitive concerns alleged in the lawsuit.
“Gannett’s KSDK‑TV and Belo’s KMOV‑TV compete head-to-head in the sale of broadcast television spot advertising in the St. Louis area, and this rivalry constrains advertising rates,” said Bill Baer, Assistant Attorney General in charge of the Department of Justice’s Antitrust Division. “The full divestiture required by the department will ensure that KMOV-TV will remain a vigorous competitor in St. Louis.”
The department’s complaint alleges that the proposed acquisition would lessen competition in broadcast television spot advertising in the St. Louis Designated Market Area (DMA). Even though the two stations would maintain separate sales forces, the various agreements between Gannett and Sander, KMOV‑TV’s new owner, would align the incentives of the two stations. To remedy this harm, the proposed settlement requires Gannett, Belo and Sander to divest all assets primarily used in the operation of KMOV‑TV to an independent purchaser to be approved by the United States. That purchaser will not be permitted to have any agreements with Gannett concerning KMOV-TV that could limit competition with KSDK-TV, including options to acquire or assign, financing agreements and shared services or joint sales agreements.
Gannett, a Delaware corporation with headquarters in McLean, Va., owns and operates 23 broadcast television stations nationwide, 12 of which are in the top 25 markets, as well as numerous newspapers. Gannett’s KSDK‑TV is the NBC affiliate in St. Louis.
Belo, a Delaware corporation with headquarters in Dallas, owns and operates 20 broadcast television stations nationwide, nine of which are in the top 25 markets. Belo’s KMOV‑TV is the CBS affiliate in St. Louis.
Sander, a Delaware limited liability company with headquarters in Scottsdale, Ariz., has no current business activity other than preparing to acquire six Belo stations, including KMOV‑TV in St. Louis, as part of the transactions between Gannett, Belo and Sander.
As required by the Tunney Act, the proposed settlement, along with a competitive impact statement, will be published in the Federal Register. Any person may submit written comments concerning the proposed settlement during a 60‑day comment period to Scott A. Scheele, Chief, Telecommunications and Media Enforcement Section, Antitrust Division, U.S. Department of Justice, 450 Fifth Street, N.W., Suite 7000, Washington, D.C. 20530. At the conclusion of the 60‑day comment period, the U.S. District Court for the District of Columbia may approve the proposed settlement upon finding that it is in the public interest.
This Press Release is courtesy of USDOJ
The school year has just began and book retailers have report a significant increase in the demand for text books. Barnes and Noble, as well as Amazon have all reported significant increase in the demand for educational content materials.
ORLANDO, Fla., July 1, 2021 — Starting today, an expanded number of central Florida viewers will get a taste of the future as eight Orlando TV stations band together to launch NEXTGEN TV. Delivering more expansive audio and video options, as well as other innovative new capabilities, NEXTGEN TV enables TV stations to better personalize their broadcasts with information and interactive features, making the content more relevant and engaging for viewers.
“With NEXTGEN TV, viewers are immersed in stunning video with brilliant color, sharper images, and deeper contrast, making them feel like they’re part of the action,” explained Mike McClain, senior vice president and general manager of WOFL-TV, WRBW-TV, and WOGX-TV. “Offering a whole new dimension to broadcast TV viewing, the Dolby Audio System for NEXTGEN TV offers movie-theater quality sound, consistent volume across channels, and Voice + enhanced dialogue so viewers can hear every voice clearly.”
Orlando has a lot to be excited about, as NEXTGEN TV will change the way viewers experience live broadcast television.
NEXTGEN TV is a feature built into select new TV models manufactured by LG Electronics, Samsung, and Sony, and now widely available to consumers. While features available on NEXTGEN TV will vary by device and by broadcaster as commercial service becomes available in local markets, it is designed to be upgradable, enabling a viewer’s television set to advance with the latest technology.
NEXTGEN TV delivers:
Stunning 4K, High Dynamic Range (HDR) video
Movie theater-quality sound
Voice + dialogue enhancement
Consistent volume across channels
Enhanced internet content on demand
“Viewers in Orlando have a lot to be excited about, as NEXTGEN TV is going to change the way they experience live broadcast television, and it will only get better as more features are added down the road by their local stations,” said John Soapes, president and general manager of WESH-TV. “NEXTGEN TV ensures the future of television, where content and the experience of watching culminates, leaving viewers informed, entertained, and inspired.”
Orlando, which is the nation’s 17th largest television market, joins Tampa, Tallahassee, and Pensacola, and nearly 30 other early-adopter cities across the country where NEXTGEN TV service is already available. The eight local stations launching the new digital TV broadcast technology are Fox Television owned-and-operated WRBW-TV (MyNetwork, Channel 65) and WOFL-TV (FOX, Channel 35), Cox Media Group’s WFTV-TV (ABC, Channel, 9) and WRDQ-TV (Independent, Channel, 27), Graham Media Group’s WKMG-TV (CBS, Channel 6), Hearst Television’s WESH-TV (NBC, Channel 2) and WKCF-TV (CW, Channel 18), and University of Central Florida’s WUCF-TV (PBS, Channel 24).
“NEXTGEN TV merges over-the-air TV with the internet, changing the way viewers watch live broadcast television and revolutionizing their interactions with their home screens,” added Anne Schelle, managing director of Pearl TV, the broadcaster business group that is coordinating NEXTGEN TV station launches. “Because NEXTGEN TV can also be enhanced with internet content, viewers across central Florida will be able to get the most out of live news, live events, and live sports.”
The participating stations have worked together to ensure current programming remains available to all viewers, regardless of whether their television service is provided over-the air or by a cable or satellite company. Antenna viewers can simply rescan their TV sets to ensure full service. Rescan instructions are available at: fcc.gov/rescan. Cable and satellite subscribers do not need to take any action. Because NEXTGEN TV has no impact on a household’s internet bandwidth—competition for bandwidth in the home is eliminated, viewers will benefit from the enhanced viewing experience alongside whatever streaming platform they use.
Orlando viewers can learn more about NEXTGEN TV by visiting www.watchnextgentv.com, which offers a guide to cities carrying the service, as well as links to available NEXTGEN TV models.
About Pearl TV:
Pearl TV is a business organization of U.S. broadcast companies with a shared interest in exploring forward-looking broadcasting opportunities, including innovative ways of promoting local broadcast TV content and developing digital media and wireless platforms for the broadcast industry. Pearl’s membership, comprising more than 750 TV stations, includes nine of the largest broadcast companies in America: Cox Media Group, Graham Media Group, Gray Television, Hearst Television Inc., Meredith Local Media Group, Nexstar Media Group, Sinclair Broadcast Group, the E.W. Scripps Company, and TEGNA, Inc.
About WOFL/WRBW/WOGX:
WOFL/WRBW/WOGX are part of the FOX Television Stations, which owns and operates 29 full power broadcast television stations in the U.S. These include stations located in nine of the top ten largest designated market areas (DMAs), and duopolies in 11 DMAs, including the three largest DMAs (New York, Los Angeles and Chicago). Of these stations, 17 are affiliated with the FOX Network. In addition to distributing sports, entertainment and syndicated content, our television stations collectively produce nearly 1,000 hours of local news every week. These stations leverage viewer, distributor and advertiser demand for the FOX Network’s national content.
SOURCE Pearl TV
CONTACT: Havas Formula for Pearl TV, pearltv@havasformula.com
NEW YORK and BURBANK — Emmy®-winning talk show host, producer and social media powerhouse Ellen DeGeneres is continuing her expansion into the original digital content business in a significant way with the announcement of the creation of the Ellen Digital Network and the unveiling of its first-ever programming slate today at the 2016 Digital Content NewFronts. An Ellen Digital Ventures initiative launched in partnership with the Warner Bros. Television Group, the Ellen Digital Network will build upon the success of Ellen’s digital destination ellentube and The Ellen DeGeneres Show website EllenTV.com, as well as her official YouTube channel, wildly popular social media following and popular game Heads Up! to create a robust, premium cross-platform advertising and integration opportunity for brands to associate with the compelling and engaging original content Ellen produces and distributes, in a positive, high-quality environment.
The Ellen Digital Network will curate all aspects of the Ellen brand combined with original programming and user-generated content. The Ellen Digital Network has signed a content development deal with social media superstar Tyler Oakley, with Ellen and Tyler set to collaborate on a range of original digital projects with an aim toward developing projects for television as well.
In addition to the content partnership with Oakley, the inaugural Ellen Digital Network programming slate will feature an original Damn, Daniel series for Snapchat; Ellen’s Pet Dish, an animated series featuring Ellen’s pets from Warner Bros.’ digital production studio Blue Ribbon Content; the return of 4-year-old viral sensation Brielle; new episodes of Dance Challenge; #MadeByYou, featuring the best user-generated content from ellentube; and popular Ellen Show game Epic or Fail; and more.
Ellen DeGeneres said: “I’m so excited for the Ellen Digital Network. I’ll get to showcase amazing talents like Tyler Oakley and tWitch. Plus, I’ll finally prove to the world that my pets can speak in human voices.”
Content Slate
Damn, Daniel Boyz: Ellen teams up with Damn, Daniel creators Joshua Holz and Daniel Lara for an all-new original series featuring the Internet phenomenon debuting on Snapchat later this year.
Ellen’s Pet Dish: From Warner Bros.’ digital production unit Blue Ribbon Content, Ellen’s Pet Dish is an all-new animated series that will take viewers behind the scenes at Ellen’s home. What do Ellen and Portia’s beloved pets do all day while Ellen and Portia are away? They watch TV of course! Ellen’s Pet Dish chronicles their animated adventures, sassy small talk and comedic commentary on clips from The Ellen DeGeneres Show. There might even be some pet guest stars stopping by…
She’s Brielle-iant: This original series for ellentube features 4-year-old whiz kid and The Ellen DeGeneres Show favorite Brielle Milla showcasing her smarts on topics ranging from science’s periodic table to the human body, world countries, experiments and more. The first She’s Brielle-iant episode generated more than 18 million views.
tWitch & Allison’s Dance Challenge: Young dancers go head-to-head for the opportunity of a lifetime in this dance-competition series hosted and judged by famed choreographers Stephen “tWitch” Boss (The Ellen DeGeneres Show DJ) and his wife, Allison Holker of Dancing with the Stars. The first original series for ellentube, tWitch & Allison’s Dance Challenge features six incredible kid dancers vying for a chance to perform on an episode of Ellen. The series has generated more than four million video views to date.
#MadeByYou: From sleepy pets to mess-making toddlers and more, Ellen loves sharing the best videos sent in by her TV show viewers and online fans. Ellen’s team curates the best of these clips to create weekly episodes of #MadeByYou which debut on ellentube. In addition to the user-generated content, compilations also feature best-of moments from The Ellen DeGeneres Show, selected by Ellen and her production team. Episodes currently have more than 32 million views.
Epic or Fail: Ellen’s favorite game to play on her show has become a new series for ellentube, hosted by beloved shorts-wearing Ellen Show staffer Andy Zenor. The program showcases user-generated videos and allows viewers to play along in real time, guessing whether the results of the stunts in the videos will be an epic success or a massive fail.
Reach of the Ellen Digital Network
The Ellen Digital Network will harness the power of Ellen’s massive audience online and in social media, where she consistently ranks as the top TV personality, and continues to grow at a record-setting pace. Ellen ranks as the #1 creator of digital content online, with more than 1.1 billion total cross-platform views according to Tubular’s November 2015 survey.
On YouTube, TheEllenShow channel averages more than 300 million views per month from its nearly 16 million subscribers; it has generated more than 8.5 billion video views overall
On Twitter, @TheEllenShow boasts more than 59 million followers, ranking as the #1 most-followed TV personality (and #7 on all of Twitter)
Ellen ranks as the #1 TV host on Facebook, with more than 24 million “likes” for the show’s official page at www.facebook.com/ellentv and more than one billion video views to date
On Instagram, @TheEllenShow ranks as the #1 TV show, with more than 28 million followers
On Snapchat, Ellen averages a million views per day
On Vine, Vine.co/Ellen has 3.5 million followers and nearly 340 million views to date.
In social gaming, Ellen’s Heads Up! app ranked as the #1 paid game app of 2014 and 2015 in Apple’s App Store and has more than 24 million downloads to date; follow-up game Heads Up! Kids launched last week and hit #1 this past weekend
Video destination ellentube.com and official talk show website EllenTV.com generate more than 105 million page views monthly
About Ellen Digital Ventures
Ellen Digital Ventures (EDV) is a business initiative created by Ellen DeGeneres and the Warner Bros. Television Group that extends Ellen’s award-winning television franchise into a robust digital business, leveraging her vast social and gaming audiences. ellentube is an EDV venture, focused on the growing shortform video space, delivering fresh entertainment daily to mobile users globally. Psych! is the first free-to-play game to launch from EDV, following on the success of Heads Up!, which was the #1 Paid App of 2015 in Apple’s App Store. Founded in 2014, EDV is headed by digital industry veteran Jill Braff, who serves as General Manager and works in conjunction with Ellen show executive producers Mary Connelly, Ed Glavin, Andy Lassner and Kevin A. Leman II.
ENGLEWOOD, Colo. & BURBANK, Calif.–In the weeks immediately following the announcement of their groundbreaking, multi-year distribution deal, DISH Network Corporation (NASDAQ:DISH) and The Walt Disney Company (NYSE:DIS) today announced the availability of WATCH ABC, WATCH ABC Family, WATCH Disney Channel, WATCH Disney XD and WatchESPN, enabling DISH’s 14 million video subscribers to access live and on-demand news, entertainment and sports programming on computers, smartphones, tablets, gaming consoles and connected devices. Access to WATCH Disney Junior as well as authenticated services from SEC ESPN Network and Longhorn Network will launch later this year.
DISH customers can now conveniently watch live programming from ABC Family, Disney Channel and Disney XD as well as live network streams of ABC, which are currently available in New York, Los Angeles, San Francisco, Chicago, Houston, Fresno, Philadelphia and Raleigh-Durham. Additionally, live events and programming from ESPN networks – including ESPN, ESPN2, ESPN3, ESPNU, ESPNEWS and ESPN Deportes – are now accessible. ESPN Goal Line and ESPN Buzzer Beater will also be available on WatchESPN when those channels are in season. Video subscribers will need to log in with their DISH online IDs and passwords to access all services.
In addition to live streaming, DISH video subscribers can watch the most current episodes of ABC and ABC Family original series the day after they air online at ABC.com and ABCFamily.com or on smartphones and tablets via the WATCH ABC and WATCH ABC Family apps, which are available free to download in the App Store, Google Play Store, Amazon Appstore and Windows Store. WATCH ABC is also accessible on Apple TV.
DISH customers can access live and popular on-demand programming from Disney Channel and Disney XD online at WATCHDisneyChannel.com and WATCHDisneyXD.com. The WATCH Disney Channel and WATCH Disney XD apps are free to download in the App Store and Amazon Appstore. The networks are also accessible on Apple TV and Roku.
For WatchESPN, DISH video subscribers can visit WatchESPN.com on their computers for live access to ESPN networks. Customers with a supported smartphone or tablet can also download the free WatchESPN app by visiting the App Store, Google Play Store, Amazon Appstore or Windows Store. The app features access to live content and on-demand video clips. WatchESPN live programming and on-demand clips are also available on Xbox 360, Xbox One, Apple TV and Roku.
About DISH
DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides approximately 14.057 million satellite TV customers, as of Dec. 31, 2013, with the highest quality programming and technology with the most choices at the best value. Subscribers enjoy a high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.
About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive. Disney is a Dow 30 company and had annual revenues of $45 billion in its Fiscal Year 2013.
This news is courtesy of www.dish.com
WASHINGTON –The U.S. Department of Transportation’s Federal Aviation Administration today announced that seven aerial photo and video production companies have asked for regulatory exemptions that would allow the film and television industry to use unmanned aircraft systems (UAS) with FAA approval for the first time.
If the exemption requests are granted, there could be tangible economic benefits as the agency begins to address the demand for commercial UAS operations. However, all the associated safety issues must be carefully considered to make sure any hazards are appropriately mitigated. The petitioner must still obtain operational approval from the FAA.
The Motion Picture Association of America facilitated the exemption requests on behalf of their membership. The firms that filed the petitions are all independent aerial cinematography professionals who collectively developed the exemption requests as a requirement to satisfy the safety and public interest concerns of the FAA, MPAA and the public at large.
The FAA has been working for several months to implement the provisions of Section 333 of the FAA Modernization and Reform Act of 2012 and move forward with UAS integration before proposing a small UAS rule. Companies from three industries besides film production have approached the FAA and are also considering filing exemption requests. These industries include precision agriculture, power line and pipeline inspection, and oil and gas flare stack inspection.
The firms are asking the agency to grant exemptions from regulations that address general flight rules, pilot certificate requirements, manuals, maintenance and equipment mandates. They are also asking for relief from airworthiness certification requirements as allowed under Section 333. Under that section of the law, certain airworthiness requirements can be waived to let specific UAS fly safely in narrowly-defined, controlled, low-risk situations.
To receive the exemptions, the firms must show that their UAS operations will not adversely affect safety, or provide at least an equal level of safety to the rules from which they seek the exemption. They would also need to show why granting the exemption would be in the public interest.
Currently, Certificates of Waiver or Authorization are available to public entities that want to fly a UAS in civil airspace. Common uses today include law enforcement, firefighting, border patrol, disaster relief, search and rescue, military training, and other government operational missions. Commercial operations are authorized on a case-by-case basis. A commercial flight requires a certified aircraft, a licensed pilot and operating approval. The exemption process under Section 333 provides an additional avenue for commercial UAS operations.
This news is courtesy of www.faa.gov
Every day, people around the world use Facebook to connect with family and friends, share information and express themselves. The conversations that happen here mirror the diversity of the more than one billion people who use Facebook, with people discussing everything from pets to politics. Our goal is to give people a place to share and connect freely and openly, in a safe and secure environment.
We have a set of Community Standards that are designed to help people understand what is acceptable to share on Facebook. These standards are designed to create an environment where people feel motivated and empowered to treat each other with empathy and respect.
Today we are providing more detail and clarity on what is and is not allowed. For example, what exactly do we mean by nudity, or what do we mean by hate speech? While our policies and standards themselves are not changing, we have heard from people that it would be helpful to provide more clarity and examples, so we are doing so with today’s update.
There are also times when we may have to remove or restrict access to content because it violates a law in a particular country, even though it doesn’t violate our Community Standards. We report the number of government requests to restrict content for contravening local law in our Global Government Requests Report, which we are also releasing today. We challenge requests that appear to be unreasonable or overbroad. And if a country requests that we remove content because it is illegal in that country, we will not necessarily remove it from Facebook entirely, but may restrict access to it in the country where it is illegal.
Billions of pieces of content are shared on Facebook every day. We hope these two updates help provide more clarity about the standards we have, whether they are our own Community Standards or those imposed by different laws around the world.
More Detailed Community Standards
The updated Community Standards are broken into four sections:
Helping to keep you safe
Encouraging respectful behavior
Keeping your account and personal information secure
Protecting your intellectual property
In particular, we’ve provided more guidance on policies related to self-injury, dangerous organizations, bullying and harassment, criminal activity, sexual violence and exploitation, nudity, hate speech, and violence and graphic content. While some of this guidance is new, it is consistent with how we’ve applied our standards in the past.
It’s a challenge to maintain one set of standards that meets the needs of a diverse global community. For one thing, people from different backgrounds may have different ideas about what’s appropriate to share — a video posted as a joke by one person might be upsetting to someone else, but it may not violate our standards.
This is particularly challenging for issues such as hate speech. Hate speech has always been banned on Facebook, and in our new Community Standards, we explain our efforts to keep our community free from this kind of abusive language. We understand that many countries have concerns about hate speech in their communities, so we regularly talk to governments, community members, academics and other experts from around the globe to ensure that we are in the best position possible to recognize and remove such speech from our community. We know that our policies won’t perfectly address every piece of content, especially where we have limited context, but we evaluate reported content seriously and do our best to get it right.
If people believe Pages, profiles or individual pieces of content violate our Community Standards, they can report it to us by clicking the “Report” link at the top, right-hand corner. Our reviewers look to the person reporting the content for information about why they think the content violates our standards. People can also unfollow, block or hide content and people they don’t want to see, or reach out to people who post things that they don’t like or disagree with.
While the Community Standards outline Facebook’s expectations when it comes to what content is or is not acceptable in our community, countries have local laws that prohibit some forms of content. In some countries, for example, it is against the law to share content regarded as being blasphemous. While blasphemy is not a violation of the Community Standards, we will still evaluate the reported content and restrict it in that country if we conclude it violates local law.
Countries contact us to let us know when content may be in violation of local laws and we compile these requests into a public report called the Global Government Requests Report.
Global Government Requests Report
The Global Government Requests Report, which covers the second half of 2014, includes information about the government requests we received for content removal and account data as well as national security requests under the U.S. Foreign Intelligence Surveillance Act and through National Security Letters.
Overall, we continue to see an increase in government requests for data and content restrictions. The amount of content restricted for violating local law increased by 11% over the previous half, to 9,707 pieces of content restricted, up from 8,774. We saw a rise in content restriction requests from countries like Turkey and Russia, and declines in places like Pakistan.
The number of government requests for account data remained relatively flat, with a slight increase to 35,051 from 34,946. There was an increase in data requests from certain governments such as India, and decline in requests from countries such as the United States and Germany.
We publish this information because we want people to know the extent and nature of the requests we receive from governments and the policies we have in place to process them.
Moving forward, we will continue to scrutinize each government request and push back when we find deficiencies. We will also continue to push governments around the world to reform their surveillance practices in a way that maintains the safety and security of their people while ensuring their rights and freedoms are protected.
Today we’re announcing that we have agreed to acquire LiveRail, an advertising technology company that helps companies like Major League Baseball (MLB.com), ABC, A&E Networks, Gannett, and Dailymotion serve better ads in the videos that appear on their websites and apps. LiveRail was founded in 2007 and offers a comprehensive platform for online video publishers that help them find and serve the best ads possible. LiveRail also helps marketers by providing them with access to premium video inventory and the information that they need in order to decide where to show their ads. What LiveRail ultimately offers is a complete advertising solution for video publishers.
We believe that LiveRail, Facebook and the premium publishers it serves have an opportunity to make video ads better and more relevant for the hundreds of millions of people who watch digital video every month. More relevant ads will be more interesting and engaging to people watching online video, and more effective for marketers too. Publishers will benefit as well because more relevant ads will help them make the most out of every opportunity they have to show an ad.
We’re just getting started with our partnership with LiveRail, but we’re very excited about the future for video publishers and marketers. We believe that LiveRail’s excellent product – known in the industry as a video supply-side platform or SSP – and Facebook’s expertise with relevancy, delivery and measurement will help us make video advertising much better for everyone.
LiveRail, welcome to Facebook.
By Brian Boland, Vice President of Ads Product Marketing and Atlas
WASHINGTON, D.C. – The Federal Communications Commission today adopted rules to help ensure that Americans’ phone calls to 911 are delivered during disasters. The rules are designed to improve 911 communications networks nationwide by requiring 911 service providers – generally, the wireline phone companies that route both wireline and wireless calls to 911 call centers – to take reasonable measures to provide reliable and resilient 911 service, as evidenced by an annual certification. The FCC also strengthened its rules to ensure that 911 service providers give 911 call centers timely and useful notification of 911 network outages.
Today’s action is the culmination of work that began after a derecho storm hit portions of the Midwest and Mid-Atlantic in June 2012, bringing widespread 911 disruptions. From isolated breakdowns in Ohio, New Jersey, Maryland, and Indiana to systemic failures in northern Virginia and West Virginia, a significant number of 911 systems and services were partially or completely down for up to several days. Across the storm’s path, at least 77 911 call centers serving more than 3.6 million people in these six states lost some degree of network connectivity, including vital information on the location of 911 callers. At least 17 of these 911 call centers, mostly in northern Virginia and West Virginia, lost service completely, leaving more than 2 million residents unable to reach emergency services.
The FCC’s Public Safety and Homeland Security Bureau conducted an inquiry into the 911 outages, finding that many could have been avoided if 911 service providers had fully implemented well-established network reliability best practices – which were developed with and backed by industry – and other sound engineering principles. The FCC said today that a purely voluntary approach to 911 reliability has not been sufficient.
The new rules are designed to maximize flexibility for 911 service providers and account for differences in network architecture without sacrificing reliability. Accordingly, the rules require service providers to certify annually that they have either implemented industry-backed best practices or acceptable alternative measures that are reasonably sufficient in light of their particular circumstances, so long as they briefly explain those measures. The best practices cover three core areas: auditing 911 circuits for physical diversity, maintaining central office backup power, and maintaining reliable and resilient network monitoring systems. If needed, the Bureau may follow up with service providers to address deficiencies revealed by the certification process. The FCC will review these rules in five years to determine whether they are still technologically appropriate, adequate, and necessary.
In addition, the FCC amended its rules to now give 911 service providers deadlines and other more specific requirements for notifying 911 call centers of outages.
This Press Release is courtesy of FCC.gov
LOS ANGELES, May 5, 2021 /PRNewswire/ — Fox Corporation (Nasdaq: FOXA, FOX) today announced an agreement via its subsidiary to acquire Outkick Media, LLC, a digital media platform founded and led by Clay Travis, and related assets. Outkick is an omnichannel leader in sports, opinion, politics, and pop culture content across its radio, podcasts, online and social outlets, as well as being one of the foremost sources of sports wagering information in the United States. Further, Outkick is in an exclusive marketing agreement with FOX’s partner FanDuel and serves as a significant source of sports wagering referrals.
Fox Corporation Executive Chairman and Chief Executive Officer Lachlan Murdoch commented: “As FOX further diversifies our growing digital portfolio and broadens our position in the sports wagering ecosystem, there could be no better acquisition than Outkick. Clay and his team have quickly made Outkick a content powerhouse with a very large, loyal and engaged audience. We expect the synergies presented across FOX’s existing portfolio of assets will turbocharge this exciting business.”
Travis added: “Outkick has grown out of my passion for producing bold, well-informed, and entertaining content about sports, current events and, more recently, sports wagering. With the power of FOX behind us, we look forward to maintaining Outkick’s unwavering commitment to that mission, as well as further accelerating the growth of our audience, and continued leadership in the sports wagering affiliate category.”
Outkick’s business spans multiple platforms and outlets. Clay Travis’ sports radio show reaches more than 10 million monthly listeners and is the #1 daily sports radio show in the mornings in the U.S.; the Outkick podcast network, which just launched in September, already notches more than four million monthly episode downloads. Outkick also draws millions of users monthly to its website, video posts and social media channels.
In addition, Outkick creates highly compelling sports wagering content, and currently has a successful, exclusive marketing arrangement with FanDuel. The Outkick platform is one of FanDuel’s attractive sources of wagering leads.
The Outkick users are highly-engaged with the brand, making them an appealing group for advertisers. Approximately two-thirds of users are between the ages of 18 and 54, with more than 70% reporting household income above $50,000 and nearly three-quarters being college-educated.
FOX plans to operate Outkick as an independent brand and leverage its content across its existing platforms. Clay Travis will remain integrally involved at Outkick and serve as its President.
Outkick Media is jointly owned by Clay Travis and Savage Ventures. Savage Ventures will continue having an operational role in the business going forward. Methuselah Advisors served as the exclusive financial advisor to Outkick for the transaction.
About Fox Corporation
Fox Corporation produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of our footprint allows us to deliver content that engages and informs audiences, develop deeper consumer relationships and create more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that shapes our strategy to capitalize on existing strengths and invest in new initiatives. For more information about Fox Corporation, please visit www.FoxCorporation.com.
NEW YORK – Apr. 25, 2019– FOX, NBCUniversal, and Viacom today unveiled OpenAP 2.0, expanding the advanced audience platform into a centralized premium video marketplace with workflow automation for national linear and long-form digital video, developed in collaboration with Accenture and FreeWheel. This major development will go live in time for Fall 2019 campaigns.
In a joint statement, Meredith Brace, Executive Vice President of Client Solutions and Portfolio Marketing, FOX; Krishan Bhatia, Executive Vice President of Business Operations and Strategy, NBCUniversal; and John Halley, Executive Vice President and Chief Operating Officer, Ad Solutions, Viacom, said: “We’re thrilled to bring to market our latest iteration of OpenAP, which fundamentally transforms the way that advertisers can transact to deliver holistic advanced audience campaigns from start to finish on both linear and long-form digital platforms, in collaboration with Accenture and FreeWheel. OpenAP was the TV industry’s first open platform for cross-publisher audience targeting and independent third-party posting, and this is a major step in furthering our mission to bring the industry together to make audience buying more transparent, consistent, and effective.”
With OpenAP 2.0, buyers will now be able to build consistent, cross-publisher audience segments for both national linear and long-form digital video, and submit orders to activate these segments through a centralized cross-publisher marketplace. Built in collaboration with Accenture and FreeWheel, OpenAP 2.0 will be accessible at OpenAP.tv and via APIs for agency planning systems and approved DSPs. In addition, OpenAP 2.0 will provide cross-publisher analytics for a unified view of advanced audience campaigns, with comprehensive pre-campaign performance projections and post-campaign delivery metrics, including total unduplicated reach, overall tCPM, and total audience impressions.
“Advanced targeting, transparency and simplicity are critical to our clients. OpenAP enables advertisers access to advanced audiences at scale with the highest quality TV content available across screens. FOX and the other members of OpenAP are committed to driving open standards that are essential to the success of our brand and agency partners,” said Marianne Gambelli, President, Advertising Sales, FOX.
“With competition rising in every industry, marketers need new ways to define their audience and engage viewers across all platforms. Expanding OpenAP can help turn that vision into a reality. Krishan Bhatia and a group of industry leaders are creating solutions that will benefit the entire advertising ecosystem, and that should be commended,” said Linda Yaccarino, Chairman, Advertising and Client Partnerships, NBCUniversal.
“We’re incredibly proud of the pioneering work that our team and OpenAP partners have accomplished in unifying and standardizing the television business. OpenAP’s evolution into a transactional platform is intended to simplify activation for our brand and agency partners, which we believe will significantly impact the scale of advanced advertising moving forward. We couldn’t be more excited,” said Sean Moran, Head of Ad Solutions, Viacom.
Launched in 2017, OpenAP was founded to make it easier for advertisers to reach unified custom audience segments across TV publishers by delivering consistency and standardization with secure segment sharing and independent measurement. Members of OpenAP include FOX, NBCUniversal, Viacom, and Univision.
About OpenAP
Founded by a consortium of television publishers and operated by a leading, neutral third-party auditor, OpenAP simplifies audience-based media buying. Within our respective companies, we are at the forefront of the evolution of TV, creating advanced, data-driven products that help advertisers move beyond basic demographics and into advanced audience targeting. However, while demand for audience targeting has grown significantly, adoption has been limited by the industry’s failure to make audience buying as transparent and easy as traditional guarantees. OpenAP was our response to a clear industry need that required collective action. For more information, visit www.openap.tv.
About Fox Corporation
Fox Corporation produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News, FOX Sports, the FOX Network, and the FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of our footprint allows us to deliver content that engages and informs audiences, develops deeper consumer relationships and creates more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that will shape our strategy to capitalize on current strengths and invest in new initiatives. For more information about Fox Corporation, please visit www.FoxCorporation.com.
About NBCUniversal
NBCUniversal is one of the world’s leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. NBCUniversal owns and operates a valuable portfolio of news and entertainment television networks, a premier motion picture company, significant television production operations, a leading television stations group, world-renowned theme parks, and a suite of leading Internet-based businesses. NBCUniversal is a subsidiary of Comcast Corporation. To learn more, visit: www.nbcuniversal.com.
About Viacom
Viacom creates entertainment experiences that drive conversation and culture around the world. Through television, film, digital media, live events, merchandise and solutions, our brands connect with diverse, young and young at heart audiences in more than 180 countries. For more information on Viacom and its businesses, visit www.viacom.com. Keep up with Viacom news by following us on Twitter (twitter.com/viacom), Facebook (facebook.com/viacom) and LinkedIn (linkedin.com/company/viacom).
The Federal Trade Commission has charged DIRECTV, the country’s largest provider of satellite television services, with deceptively advertising a discounted 12-month programming package because it fails to clearly disclose that the package requires a two-year contract. In addition, DIRECTV does not clearly disclose that the cost of the package will increase by up to $45 more per month in the second year, and that early cancellation fees of up to $480 apply if consumers cancel the package before the end of the two-year period.
DIRECTV also fails to disclose that its offer of free premium channels for three months is in fact a negative option continuity plan that requires consumers to proactively cancel to avoid automatic charges on their credit or debit cards, the FTC alleges.
“DIRECTV misled consumers about the cost of its satellite television services and cancellation fees,” said FTC Chairwoman Edith Ramirez. “DIRECTV sought to lock customers into longer and more expensive contracts and premium packages that were not adequately disclosed. It’s a bedrock principle that the key terms of an offer to a consumer must be clear and conspicuous, not hidden in fine print.”
In filing its complaint, the FTC is seeking a court order that permanently bars DIRECTV from engaging in the allegedly illegal conduct, as well as a monetary judgment that could be used to provide refunds to affected consumers.
DIRECTV is a national provider of direct-to-home satellite television services, based in El Segundo, California. With more than 20 million subscribers across the United States, the company is the largest provider of such multi-channel video programming distribution in the nation. The company offers its services to consumers through subscriptions, and typically requires users to agree to a 24-month contract that includes a programming package, satellite dish, other necessary equipment, and installation and support services.
According to the FTC’s complaint, in many instances since 2007, DIRECTV has violated the FTC Act by making deceptive claims or omissions of material facts in advertisements and on its website for its satellite television subscription service. Specifically, the FTC charges that:
DIRECTV promotes its television service and programming package prices “for 12 months,” without clearly and prominently disclosing that these deals require consumers to sign a two-year contract (with a substantial early cancellation fee) and that the cost of the programming packages jumps $25 to $45 a month in the second year of the contract; and
DIRECTV represents that consumers will receive premium channels, such as HBO and Showtime, “free for 3 months,” without adequately disclosing that: 1) consumers will be enrolled in a negative option continuity plan that charges for the premium channels after the trial period; 2) consumers must contact DIRECTV to cancel the plan before the trial period ends to avoid incurring the charges; 3) DIRECTV will use consumers’ credit or debit card information to charge them after the trial period ends; and 4) there are specific costs associated with the negative option continuity plan.
In addition to the agency’s charges that DIRECTV violated the FTC Act, the FTC also alleges the company violated the Restore Online Shoppers’ Confidence Act (ROSCA) by failing to clearly and conspicuously disclose on its website all of the material terms of offers with a negative option component.
The Commission vote approving the complaint was 5-0. It was filed in the U.S. District Court for the Northern District of California, San Francisco Division on March 11, 2015, and names as defendants DIRECTV and DIRECTV, LLC
The Commission files a complaint when it has “reason to believe” that the law has been or is being violated and it appears to the Commission that a proceeding is in the public interest. The case will be decided by the judge.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP FREE (1-877-382-4357 FREE). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook (link is external), follow us on Twitter (link is external), and subscribe to press releases for the latest FTC news and resources.
After nearly fourteen years of operation, Gawker.com will be shutting down next week. The decision to close Gawker comes days after Univision successfully bid $135 million for Gawker Media’s six other websites, and three months after the Silicon Valley billionaire Peter Thiel revealed his clandestine legal campaign against the company.
Nick Denton, the company’s outgoing CEO, informed current staffers of the site’s fate on Thursday afternoon, just hours before a bankruptcy court in Manhattan will decide whether to approve Univision’s bid for Gawker Media’s other assets. Staffers will soon be assigned to other editorial roles, either at one of the other six sites or elsewhere within Univision. Near-term plans for Gawker.com’s coverage, as well as the site’s archives, have not yet been finalized.
NEW YORK, Aug. 11, 2021 /PRNewswire/ — Getty Images, a world leader in visual communications, and UNCF (United Negro College Fund), have announced the creation of the UNCF-Getty Images Scholarship for students at Historically Black Colleges and Universities (HBCUs).
The program will provide scholarships to students attending HBCUs across the United States and will be funded by revenue created by the inaugural Getty Images Photo Archive Grants for HBCUs, that aims to support the digitization of the invaluable visual history of HBCUs.
For more information or to apply to the Getty Images Photo Archive Grants for HBCUs, go to: https://grants.gettyimages.com/hbcu-grant
“We thank Getty Images for its partnership and investment in our students’ futures. The Getty Images Photo Archive Grants for HBCUs exemplifies Getty Images’ commitment to support HBCUs and to give a visual life to previously untold stories,” said Dr. Michael L. Lomax, President and CEO, UNCF. “There is a wealth of unseen imagery within the archives of HBCUs that have rarely been seen, and these grants from Getty Images will be an essential part of the on-going documentation and preservation of Black history.”
Recently launched in partnership and with financial support with the Getty Family and Stand Together, a philanthropic community tackling some of the biggest challenges of our times, the Getty Images Photo Archive Grants for HBCUs Program commits $500,000 towards the digitization of HBCU photographic archives. The Grant will support the digitization of up to 100,000 archival photos for two HBCU Grant recipients. HBCUs will retain all copyright, and original photos will be returned to the HBCUs after scanning, along with the newly digitized photos. Getty Images will represent the digitized photos, making this content available for educational and non-commercial uses, providing a new revenue source for the HBCU Grant recipients.
Cassandra Illidge, Vice President of Partnerships at Getty Images, said, “Our industry and Getty Images has not historically worked from a foundation of diversity, equity and inclusion. We have built a program to not only honor the legacy and history of HBCUs and their contribution to American History, but a program which will support our students’ futures. For Getty Images to move the world, we must ensure that all content creators, their work, and their stories can be preserved. We are committed to making content accessible and to ensure a more authentic representation of history.”
All revenue from the HBCUs photos on www.gettyimages.com will be distributed to HBCUs and to continue impacting the Grants Program: Fifty percent will go to Grant recipients, who will retain all copyright of the visual assets; twenty percent will be reinvested to fund the Getty Images Photo Archive Grants for HBCUs each year; and the remaining thirty percent of royalties will be distributed to the new UNCF-Getty Images Scholarship with the goal of supporting the educational future of HBCU students. The scholarships will become available to students in 2022.
Stand Together CEO Brian Hooks said, “Stand Together is excited to build on our longstanding support for the HBCU community by participating in this important project alongside Getty Images and UNCF. By bringing images from HBCU archives to millions more people, the new curation will help celebrate the unique contributions that HBCUs, their graduates, and faculty members have made and continue to make to our country.”
Getty Images Co-Founder and Chairman Mark Getty said, “At Getty Images we are excited about this partnership with HBCUs to digitize significant parts of their photographic archives. A photographic archive tells a story; it’s a visual history of who we are. As a society we can only learn from history if it tells everyone’s story. This partnership is an important step in that direction.”
Applications to the Getty Images Photo Archive Grants for HBCUs will be accepted through Thursday, September 30, 2021, at 11:59 p.m. PT.
SOURCE press.gettyimages.com
CONTACT: Jenna Attardi, jenna.attardi@gettyimages.com
Related Links
http://www.gettyimages.com
MOUNTAIN VIEW, CA – A group of photographers, visual artists and affiliated associations have reached a settlement with Google in a lawsuit over copyrighted material in Google Books. The parties are pleased to have reached a settlement that benefits everyone and includes funding for the PLUS Coalition, a non-profit organization dedicated to helping rightsholders communicate clearly and efficiently about rights in their works.
Further terms of the agreement are confidential.
The agreement resolves a copyright infringement lawsuit filed against Google in April, 2010, bringing to an end more than four years of litigation. It does not involve any admission of liability by Google. As the settlement is between the parties to the litigation, the court is not required to approve its terms.
This settlement does not affect Google’s current litigation with the Authors Guild or otherwise address the underlying questions in that suit.
The plaintiffs in the case are rightsholder associations and individual visual artists. The associational plaintiffs are The American Society of Media Photographers, Inc., Graphic Artists Guild, PACA (Digital Media Licensing Association)., North American Nature Photography Association, Professional Photographers of America, National Press Photographers Association, and American Photographic Artists. The individual plaintiffs are Leif Skoogfors, Al Satterwhite, Morton Beebe, Ed Kashi, John Schmelzer, Simms Taback and Gail Kuenstler Taback Living Trust, Leland Bobbé, John Francis Ficara, and David W. Moser.
The case is American Society of Media Photographers, Inc. et al. v. Google Inc., Case No. 10-CV-02977 (DC) pending in the United States District Court for the Southern District of New York.
About Google Inc. and Associational Parties
Google is a global technology leader focused on improving the ways people connect with information. Google’s innovations in web search and advertising have made its website a top Internet property and its brand one of the most recognized in the world.
Founded in 1944, The American Society of Media Photographers (ASMP) is the premier trade association for the world’s most respected photographers.
The Graphic Artists Guild (GAG) is a national union of graphic artists dedicated to promoting and protecting the social, economic and professional interests of its members and for all graphic artists including, animators, cartoonists, designers, illustrators, and digital artists.
PACA (Digital Media Licensing Association) is a trade association established in 1951 whose members include more than 80 companies representing the world of digital content licensing.
NANPA, the North American Nature Photography Association, is the first and premiere association in North America committed solely to serving the field of nature photography.
Professional Photographers of America (PPA) represents more than 27,000 photographers and photographic artists from dozens of specialty areas including portrait, wedding, commercial, advertising and art.
Founded in 1946, the National Press Photographers Association (NPPA) is the “voice of visual journalists” promoting and defending the rights of photographers and journalists, including freedom of the press in all its forms.
The American Photographic Artists (APA) is a leading national organization run by and for professional photographers.
Contact
The Department of Justice’s Antitrust Division filed a civil antitrust lawsuit today in the U.S. District Court of the District of Columbia challenging Gray Television, Inc.’s proposed acquisition of Schurz Communication, Inc., and simultaneously filed a proposed settlement that would resolve the competitive harm alleged in the lawsuit.
The division alleged that the proposed transaction would have eliminated head-to-head competition between Gray’s and Schurz’s television stations for the business of local and national advertisers on television stations in South Bend, Indiana, and Wichita, Kansas. The division determined that elimination of this competition would have resulted in higher prices and lower quality services to broadcast television spot advertisers in these markets. The proposed settlement – which must be approved by the court – requires Gray to divest two television stations – the CBS-affiliated WSBT-TV in South Bend and the ABC-affiliated KAKE-TV in Wichita – to department-approved buyers.
“We remain vigilant in protecting competition in local television markets,” said Assistant Attorney Bill Baer of the Justice Department’s Antitrust Division. “Combining these stations under common ownership would have made it more costly for advertisers to communicate with consumers. The antitrust laws render those transactions unlawful.”
Gray is incorporated in the state of Georgia, with its headquarters in Atlanta. Schurz is a privately owned company, with its headquarters in Mishawaka, Indiana. Both Gray and Schurz operate broadcast television stations in various metropolitan areas throughout the United States.
As required by the Tunney Act, the proposed settlement, along with the department’s competitive impact statement, will be published in the Federal Register. Any person may submit written comments concerning the proposed settlement during a 60-day comment period to David Kully, Chief, Litigation III Section, Antitrust Division, U.S. Department of Justice, 450 Fifth Street, N.W., Fourth Floor, Washington, D.C. 20530. At the conclusion of the 60-day comment period, the court may enter the final judgment upon a finding that it serves the public interest.
How has the Hearst Business Media division evolved since its inception?
Richard Malloch: Today, our group is a technology leader providing information, insights, and solutions to professionals around the world in finance, healthcare, transportation and more. Hearst Director and Former COO Gil Maurer brought me into Hearst in 1991 when I joined the Hearst Books/Business Publishing Group. For the remainder of that decade, I worked for Gordon Jones, head of that group, and later Victor Ganzi, who succeeded him, before he became COO and eventually CEO of Hearst. In August 1999, we established Hearst Business Media. I was charged with transforming the business following the sale of the book company. At that time, Business Media was a largely print and advertising based business.
We repositioned the group and focused on building a subscription and a licensing fee business model. As we formed the group, one of our first acquisitions under the Hearst Business Media banner was Zynx Health in 2004. For most of the first decade of the millennium, Zynx was our fastest growing acquisition. We followed with other acquisitions in healthcare, automotive and finance.
Rich Malloch serves as the president of Hearst Business Media.
Our early successes included MOTOR Information Services, which started as a magazine by our founder, William Randolph Hearst; National Auto Research (Black Book), which we acquired as part of the portfolio of assets divested by Cox Media; and First Databank, purchased by Hearst Executive Vice Chairman and Former CEO Frank Bennack for $80,000 to support a pricing information requirement for American Druggist magazine. Since 2008 we have had the opportunity to invest nearly $5 billion against this investment strategy.
During that time, we have seen extraordinary growth and we are now the fastest growing division within Hearst. Our business is nearly 100 percent digital and virtually all our revenue is derived from subscription and licensing fees. Our customers view our information and solutions as essential to their businesses and our renewal rates are in the mid-90 percent range. We pride ourselves in fostering an environment of continuous innovation and 30 percent of our annual revenue growth is coming from products at our businesses that did not even exist three years ago. The team has accomplished a lot, especially in the past several years, but that merely sets the stage as we are focused on building on our strengths to further accelerate our growth.
Of course, we cannot do what we are doing without the strong support from senior management and the Hearst Board. I have the deepest appreciation for the wisdom and guidance of Frank Bennack and for the friendship and support of Hearst President and CEO Steve Swartz. Along with the Board, CFO Mitch Scherzer and the finance team have provided us with great resources and encouragement. Another cornerstone of the group’s success is the teamwork and talent of my management team–Steve Hobbs’ deal making experience, Greg Dorn in Hearst Health and all our operating unit presidents that help us identify acquisition opportunities and work on due diligence. I’m surrounded by terrific people, and I truly feel like I have the greatest job in the world.
Can you talk about Hearst’s growth in healthcare? How do Hearst Health companies work together to help both patients and health care providers?
Malloch: Hearst has been operating in the healthcare information industry for more than three decades. Our healthcare companies are all industry leaders who pioneered the markets in their respective areas. They complement each other in their shared mission of putting vital information into the hands of everyone who touches a person’s health journey. Last year we introduced the Hearst Health brand to encompass all our healthcare properties: FDB (First Databank), Zynx Health, MCG, Homecare Homebase, and our international offerings, which include Map of Medicine. We also created Hearst Health Ventures and the Hearst Health Innovation Lab, which help to fund and develop revolutionary solutions to healthcare’s biggest problems.
I am very proud to say that Hearst Health has a truly profound impact on healthcare in the U.S. as the network is positioned to guide care across a person’s health journey, including the transitions between settings. When a patient enters the hospital, MCG guides the appropriateness of an admission and automates approvals from the health insurance company and FDB reconciles the patient’s medications. During the hospital stay, MCG defines the benchmarks for optimal care and recovery each day, Zynx provides instructions for bedside interventions, as well as secure text messaging for the care team, and FDB guides drug decisions and transactions. Leaving the hospital, MCG helps clinicians understand where the patient should go next, such as rehabilitation, outpatient, or home care, and FDB reconciles medications again. In the home care and hospice settings, Homecare Homebase gives the field clinicians instructions and documentation capabilities synced to the cloud, so that care is high-quality and without interruption or delays.
Our ultimate goal is to help healthcare professionals around the globe deliver optimal care to patients through access to our world-renowned guidance, and thus improve health outcomes.
How do you see the healthcare industry progressing over the next decade?
Malloch: If you look at the demographic trends in the U.S., projections show that by 2030 about one-fifth of the population will be over the age of 65. This trend will benefit Hearst Health as an organization as older people naturally have a more frequent need of healthcare services for chronic conditions. Healthcare is a huge part of the U.S. economy—currently it is more than 17 percent of our GDP. Nearly everyone agrees that the health system in America needs dramatic improvements in terms of improving efficiency, managing expenses and preventing wastefulness. We are working to innovate products and deliver solutions to mitigate these problems and set new standards of excellence in healthcare.
Outside of the U.S., particularly in rapidly-developing parts of the world, economies that have been so focused on creating GDP growth have now started to also focus on creating life expectancy, so we are seeing significant demands for our healthcare products in areas such as the Middle East.
As you mentioned, the company has long been involved with the automotive industry. What are our current automotive businesses and how are they evolving?
Malloch: Today, our automotive companies—Black Book, MOTOR and Veretech—are the premier suppliers of automotive data, delivering timely information to our customers in customized formats when and where they need it. All three companies continue to evolve and grow leveraging the latest technology to introduce new tools to help our customers run their businesses more efficiently and profitably. In the past year alone, we have had great new successes, including MOTOR’s Selectline, a mobile, cloud-based, workflow repair shop solution; Black Book Digital, already a leading mobile tool for automotive professionals; and Veretech’s mobile web site version of the Black Book Trade Appraisal application.
Can you talk about Hearst’s partnership with Fitch? How has the partnership grown over the years?
Malloch: We are excited about our evolving partnership with Fitch and the tremendous new opportunities for growth. Hearst first invested in the company in 2006, and our financial stake has been growing steadily over the years. As you know, last month we announced that our equity interest will increase to 80 percent and we expect this to be finalized this quarter following regulatory approvals. The credit rating, financial information and risk management services that Fitch delivers around the world are absolutely critical in today’s global economy. I am looking forward to working even more closely with CEO Paul Taylor, his senior management team, and our Fimalac partners to continue to build on Fitch’s many strengths and accelerate growth further.
What are Hearst Business Media’s plans to increase its presence internationally?
Malloch: Our group is one of the most global within Hearst. Through Fitch alone, we operate offices in more than 30 countries. In the healthcare area, about 15 percent of our revenue comes from outside the U.S. We see more demand for healthcare products around the world. One of the most exciting places we are growing the Hearst Health reach right now is the Gulf States in the Middle East, and we have also won significant new business in Australia and New Zealand. We have great automotive and trucking businesses but we do not yet have an international footprint in the auto space, and that is something we want to do. We actually placed a bid on an international automotive business last year, but were unsuccessful. We are currently evaluating businesses and continue to look for more opportunities. We are keen to become even more global and I have charged my team to actively seek out interesting international opportunities across all our businesses to increase our global presence.
What is the next big thing for Business Media?
Malloch: There are many big things on the horizon. We are coming off a very successful year and are building for more growth. Our group has just created the internal Data Science Center of Excellence for information extraction, data mining and predictive modeling. Its work will enhance the value we bring to our customers, create new product innovations and strengthen our competitive advantage across the board. I am very excited about how we can capitalize on new opportunities in evolving global markets to create more growth at Fitch. Our automotive group is making its mark and leading on the mobile front and has exciting new products that will be introduced. The Hearst Health network continues to expand and we are making strategic investments in companies and products revolutionizing healthcare. The Business Media team is inspired every day because our products help to solve pressing problems in the world. We are doing well by doing good.
NEW YORK, – Hearst Corporation today announced it has agreed to acquire Birmingham, Ala., NBC affiliate WVTM-TV, Channel 13, from Media General, Inc. The announcement was made by Steven R. Swartz, president and CEO, Hearst Corporation and Jordan Wertlieb, president, Hearst Television Inc.
Birmingham is the 44th largest television market. The acquisition would increase Hearst Television’s audience reach of U.S. TV households to nearly 19 percent, and the reach of its NBC-affiliated stations to nearly 8 percent, across 11 markets.
In conjunction with the acquisition of WVTM, Hearst Corporation also announced it will acquire Savannah, Ga., ABC affiliate WJCL-TV, from LIN Media LLC. Savannah is the 92nd largest television market.
“Hearst Television is a leader in news, innovation and community service and we look forward to welcoming our new colleagues into our family of award-winning stations,” Swartz said.
“This acquisition fits perfectly with Hearst Television’s portfolio of Southeast television stations,” Wertlieb said. “We continue to evaluate strategic opportunities to strengthen our station group by adding stations that serve their communities with news and local programming in growth markets.”
Terms were not disclosed. The transactions are subject to requisite regulatory approvals and the completion of the Media General/LIN Media merger.
About Hearst Television
Hearst Television (www.hearsttelevision.com), a national multimedia company, owns and operates 29 local television stations and two local radio stations, serving 30 U.S. cities and reaching approximately 18 percent of U.S. television households. The TV stations broadcast 60 video channels, featuring local and national news, weather, information, sports and entertainment programming and local community service-oriented programs. The stations also host and operate digital online and mobile platforms that extend the company’s brands and content to local, national and international audiences. Hearst Television is recognized as one of the industry’s premier companies and has been honored with numerous awards for distinguished journalism, industry innovation and community service. Hearst Television is a wholly owned subsidiary of Hearst Corporation.
About Hearst Corporation
Hearst Corporation (www.hearst.com) is one of the nation’s largest diversified media and information companies. Its major interests include ownership of 15 daily and 34 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 29 television stations, which reach a combined 18 percent of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY and ESPN; significant holdings in automotive, electronic and medical/pharmaceutical business information companies; a 50 percent stake in global ratings agency Fitch Group; Internet and marketing services businesses; television production; newspaper features distribution; and real estate.
NEW YORK, – Hearst Corporation today announced it has completed its previously announced acquisitions of Birmingham, Ala., NBC affiliate WVTM-TV, Channel 13, from Media General, Inc. and Savannah, Ga., ABC affiliate WJCL-TV, from LIN Media LLC. The announcement was made by Steven R. Swartz, president and CEO, Hearst Corporation and Jordan Wertlieb, president, Hearst Television Inc. Terms were not disclosed. The transactions were subject to requisite regulatory approvals and the completion of the Media General/LIN Media merger.
Birmingham is the 44th largest television market and Savannah is the 92nd largest. The acquisition increases Hearst Television’s audience reach of U.S. TV households to nearly 19 percent, and the reach of its NBC-affiliated stations to nearly 8 percent, across 11 markets.
Hearst also announced new management for the stations. Henry “Hank” Price, a highly recognized broadcast industry veteran who has served since 2000 as president and general manager of Hearst’s WXII-TV, the NBC affiliate in the Greensboro/Winston-Salem, N.C., TV market, will move to WVTM in the same role. His successor at WXII-TV will be announced at a later date. Timothy J. (Tim) Morrissey, most recently president and general manager of WCNC-TV, the Gannett-owned NBC affiliate in Charlotte, N.C., will become president and general manager of WJCL; the move marks a return to Hearst for Morrissey, who in the mid-1980s served as news director at Hearst’s WISN-TV in Milwaukee.
“Television stations with strong news brands attract the largest audiences,” Wertlieb said. “A dedication to quality local programming and community service will be our focus as we grow our audience in the region. Hank and Tim exemplify that dedication.”
During Price’s tenure at WXII, the station has become the region’s leader in Web, mobile and multiplatform programming, as well as the Piedmont Triad’s highest rated television station, winning all major newscasts. Prior to joining Hearst, Price was vice president and general manager of WBBM-TV, the CBS-owned television station in Chicago and, before that, he was president and general manager of KARE-TV, the NBC affiliate in Minneapolis. Price is also senior director of Northwestern University’s Media Management Center where he concentrates on future news and business models. He has served on the boards of numerous community organizations in North Carolina, Minneapolis-St. Paul and Chicago.
In 2010, Price received the North Carolina Association of Broadcasters Distinguished Service Award for “Outstanding Contributions to Broadcasting.” He is co-author of Audience First, scheduled to be released by Sage Publishing in mid-2015.
The move to Birmingham marks a return to the region for Price. A native of Gulfport, Miss., Price worked his way through college at The University of Southern Mississippi where he is a member of the School of Mass Communications and Journalism Hall of Fame.
Before becoming president and general manager at WCNC in 2007, Morrissey was divisional vice president of The New York Times Company Broadcast Group, after having served as its corporate vice president of news. Previously, he was president and general manager at television stations in Oklahoma City (KFOR-TV) and Ft. Smith, Ark. (KFSM-TV) and served in news management roles at stations in Baltimore (WJZ-TV), Wilkes-Barre/Scranton, Pa. (WNEP) and New Orleans (WWL-TV).
Morrissey has served as a member of the NBC network affiliate board, the NBC NewsChannel board, the ABC News advisory board and the FCC’s Media Security and Reliability Council (MSRC). He currently serves on the board of directors for the United Way of Central Carolinas. He received his undergraduate education at Marquette University and is a Fellow of the Loyola University of the South Institute of Politics in New Orleans.
About Hearst Television
Hearst Television (www.hearsttelevision.com), a national multimedia company, owns and operates 31 local television stations and two local radio stations, serving 32 U.S. cities and reaching nearly 19 percent of U.S. television households. The TV stations broadcast 60 video channels, featuring local and national news, weather, information, sports and entertainment programming and local community service-oriented programs. The stations also host and operate digital online and mobile platforms that extend the company’s brands and content to local, national and international audiences. Hearst Television is recognized as one of the industry’s premier companies and has been honored with numerous awards for distinguished journalism, industry innovation and community service. Hearst Television is a wholly owned subsidiary of Hearst Corporation.
About Hearst Corporation
Hearst Corporation (www.hearst.com) is one of the nation’s largest diversified media and information companies. Its major interests include ownership of 15 daily and 34 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 31 television stations, which reach a combined 18 percent of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY and ESPN; significant holdings in automotive, electronic and medical/pharmaceutical business information companies; a 50 percent stake in global ratings agency Fitch Group; Internet and marketing services businesses; television production; newspaper features distribution; and real estate. Follow us on Twitter @HearstCorp and subscribe to Hearstlink.
NEW YORK, NY —The American Society of Magazine Editors (ASME) today announced the National Magazine Awards 2015 finalists. For the second year, the nominations were first announced in an hour-long Twittercast. Known as the Ellies—for the Alexander Calder stabile “Elephant” given to each award winner—the National Magazine Awards will be presented on Monday, February 2, at the New York Marriott Marquis. The awards dinner will also include the presentation of a lifetime achievement award to the TIME photojournalist James Nachtwey.
Sixty-six publications were nominated this year in 24 categories. Twenty-nine magazines received multiple nominations, led by New York with 10. New York also led last year with nine nominations. Bon Appetit and The New Yorker both received six nominations, followed by The Atlantic, GQ and Virginia Quarterly Review, each with four nominations.
Magazines with three nominations include The Atavist, Bloomberg Businessweek, Cosmopolitan, Grantland, Harper’s Bazaar, Sunset and Texas Monthly. Publications with two nominations are Garden & Gun, The Hollywood Reporter, Inc., Matter, National Geographic, Nautilus, The New Republic, The New York Times Magazine, Politico, Popular Mechanics, Runner’s World, Slate, T, The New York Times Style Magazine, TIME, Vogue and Wired.
Also nominated are The American Scholar, The Antioch Review, Audubon, Backpacker, Better Homes and Gardens, California Sunday Magazine, Chicago, Consumer Reports, ESPN The Magazine, Foreign Affairs, The Georgia Review, Glamour, Harper’s Magazine, Harvard Business Review, Kinfolk, Martha Stewart Living, Men’s Health, Men’s Journal, Mental Floss, Mother Jones, National Journal, O, The Oprah Magazine, Outdoor Life, Outside, The Oxford American, Pacific Standard, Parents, The Paris Review, Powder, Real Simple, Refinery29, Rolling Stone, San Francisco, The Texas Observer, Vanity Fair, Vice and Women’s Health.
Eight publications are first-time finalists: California Sunday Magazine for Design; Grantland for Video, Feature Writing and Columns & Commentary; Kinfolk for Photography; Matter for Public Interest and Feature Photography; Nautilus for General Excellence and Website; Politico for General Excellence and Website; Powder for Multimedia; and Refinery29 for Website.
Digital-first finalists include The Atavist for Multimedia, Reporting and Feature Writing; Grantland for Video, Feature Writing and Columns & Commentary; Matter for Public Interest and Feature Photography; Nautilus for General Excellence and Website; Politico for General Excellence and Website; Refinery29 for Website; and Slate for Multimedia and Public Interest.
Short-listed articles range from how-to to long-form. Notable finalists in Public Interest include “You’re 16. You’re a Pedophile. You Don’t Want to Hurt Anyone. What Do You Do Now?” by Luke Malone (Matter), and “The Campus Rape Overcorrection,” by Emily Yoffe (Slate); in Personal Service, “The Cosmo Icky-pedia of STIs” (Cosmopolitan) and “Your Grandmother’s Guide to Pot” (New York); in Reporting, “The Truth About Chicago Crime Rates,” by David Bernstein and Noah Isackson, (Chicago); in Feature Writing, “The Reckoning,” by Andrew Solomon (“The New Yorker”); and in Essays & Criticism, “Shame and Survival,” by Monica Lewinsky (Vanity Fair).
The nomination of “The Case for Reparations,” by Ta-Nehisi Coates , in Essays & Criticism is the third for Coates’ work for The Atlantic in the last three years. His article “Fear of a Black President” won Essays & Criticism for The Atlantic in 2013. Other previous winners nominated this year are Pamela Colloff, who won Feature Writing for Texas Monthly in 2013; Michael Finkel, Photojournalism, National Geographic, 2008; Alex Hutchinson, Personal Service, Popular Mechanics, 2008; Patrick Radden Keefe, Feature Writing, The New Yorker, 2014; Jason Motlagh, News Reporting, Virginia Quarterly Review, 2010; Chris Offutt, Fiction, DoubleTake, 1998; Zadie Smith, Fiction, The New Yorker, 2014; and John Jeremiah Sullivan, Feature Writing, Harper’s Magazine, 2003, and Essays & Criticism, The Paris Review, 2011.
“The National Magazine Awards 2015 finalists demonstrate the enduring power of magazine journalism in print and on websites and mobile,” said Sid Holt, chief executive of ASME. “Whether it’s politics, fashion, sports or the kind of service journalism that only magazines can do, readers know that their favorite print and digital magazines are where to find information and entertainment they can trust.”
Established in 1966, the National Magazine Awards are sponsored by ASME in association with the Columbia University Graduate School of Journalism. Two hundred sixty-three publications entered the National Magazine Awards this year, submitting 1,548 print and digital entries. Three dozen magazines entered the National Magazine Awards for the first time. More than 25 digital-first publications submitted entries. The judges included 340 magazine editors, art directors and photography editors as well as journalism educators.
National Magazine Awards 2015 Finalists
General Excellence
General Interest Magazines
Honors magazines covering politics, business, technology, sports and entertainment
GQ; The New York Times Magazine; The New Yorker, Politico; Wired
Service and Lifestyle Magazines
Honors magazines covering family, the home, food, fashion and relationships
Cosmopolitan; Glamour; Martha Stewart Living; Parents; Sunset
Style and Design Magazines
Honors magazines covering fashion, decorating, dining, entertaining and travel
Bon Appétit; Garden & Gun; Harper’s Bazaar; T, The New York Times Style Magazine; Vogue
Active Interest Magazines
Honors magazines covering health and fitness, active sports, outdoor recreation and cars and boats
Men’s Health; Outside; Popular Mechanics; Runner’s World; Women’s Health
Special Interest Magazines
Honors magazines serving highly defined reader communities
Harvard Business Review; The Hollywood Reporter; Inc.; Mental Floss; Texas Monthly
Literature, Science and Politics Magazines
Honors smaller-circulation general-interest magazines as well as publications covering the arts
The American Scholar; Foreign Affairs; Mother Jones; Nautilus; Virginia Quarterly Review
Design
Honors overall excellence in print magazine design
Bon Appétit; The California Sunday Magazine; Harper’s Bazaar; New York; Wired
Photography
Honors overall excellence in print magazine photography
Bon Appétit; GQ; Harper’s Bazaar; Kinfolk; National Geographic
Single-Topic Issue
Honors print magazines that have devoted a single issue to the comprehensive examination of one subject
Audubon for “Special Issue: Birds and Climate Change,” September/October
Bloomberg Businessweek for “85th Anniversary Issue,” December 8
Bon Appétit for “The Thanksgiving Issue,” November
New York for “Health: A Special Issue,” June 9-15
San Francisco for “The Oakland Issue,” June
Magazine Section
Honors front- or back-of-the-book departments or sections regularly published in print
Bloomberg Businessweek for “ETC”
Inc. for “Made”
New York for “The Culture Pages”
New York for “Strategist”
Popular Mechanics for “How Your World Works”
Website
Honors magazine websites and online-only magazines
The Atlantic; Nautilus; New York; Politico; Refinery29
Tablet Magazine
Honors magazines published on tablets and e-readers
Bon Appétit; Garden & Gun; National Geographic; New York; Sunset
Multimedia
Honors digital storytelling and the integration of magazine media
The Atavist for “Love for My Enemies,” by Lukas Augustin and Niklas Schenck, June, at atavist.com
Consumer Reports for “A Beautiful Death,” in December print edition and at consumerreports.org
Powder for “The Human Factor,” by David Page, December 9, at powder.com
Slate for “The Year of Outrage,” December 17, at slate.com
The Texas Observer in Partnership With The Guardian for “Beyond the Border,” by Melissa del Bosque, August 6, at texasobserver.org
Video
Honors the outstanding use of video by magazine websites and digital-only magazines
The Atlantic for “The Contract Buyers League,” and “The Guardian of North Lawndale,” May 21
Grantland for “The Finish Line,” Episode 1, Episode 2 and Episode 3, directed by Jonathan Hock, February 13, February 28, and March 13
Rolling Stone for “Rick Was Here,” October 16
TIME for “Rise,” directed by Shaul Schwarz, March 6
Vice for “The Islamic State,” by Medyan Dairieh, August 15
Public Interest
Honors magazine journalism that illuminates issues of national importance
The Atlantic for “Segregation Now . . . ,” by Nikole Hannah-Jones, May
Matter for “You’re 16. You’re a Pedophile. You Don’t Want to Hurt Anyone. What Do You Do Now?” by Luke Malone, August 10
National Journal for “Jackie’s Goodbye,” by Tiffany Stanley, October 4
Pacific Standard for “Women Aren’t Welcome Here,” by Amanda Hess, January/February
Slate for “The Campus Rape Overcorrection,” by Emily Yoffe, December 7
Personal Service
Honors magazine journalism that serves readers’ needs and aspirations
Cosmopolitan for “The Cosmo Icky-pedia of STIs,” by Kelly Mickle, November
Men’s Journal for “When to Say No to Your Doctor,” by Joseph Hooper, October
New York for “Your Grandmother’s Guide to Pot,” by Allison P. Davis, Armen Enikolopov, Matthew Giles, Clint Rainey, Alexa Tsoulis-Reay, Mary Jane Weedman and Alex Yablon, December 1-14
O, The Oprah Magazine for “Ready or Not: What It’s Like to Care for Aging Parents,” November
Real Simple for “Real Simple’s Easy, Clever, Commonsense, Time-Saving, Game-Changing Guide to Help You Take Control of the Laundry (Finally)!” by Nicole Sforza, August
Leisure Interests
Honors magazine journalism that provides practical information about recreational activities and special interests
Backpacker for “The Complete Guide to Fire,” edited by Casey Lyons, October
Bon Appétit for “Inside the (Very Active) Mind of Bobby Flay,” by Adam Rapoport, March
Outdoor Life for “Do It All: 51 Essential Skills, Inspired Project, and Clever Hacks to Improve Your Outdoor Life,” April
Runner’s World for “What Will It Take to Run a 2-Hour Marathon?” by Alex Hutchinson, October 13
Sunset for “25 All-Time Favorite Test Kitchen Recipes,” January
Reporting
Honors reporting excellence as exemplified by one article or a series of articles
The Atavist for “The Trials of White Boy Rick,” by Evan Hughes, September
Chicago for “The Truth About Chicago’s Crime Rates: Dead Wrong,” May, and “The Truth About Chicago’s Crime Rates: Getting Washed,” June, by David Bernstein and Noah Isackson
ESPN The Magazine for “No One Walks Off the Island,” by Scott Eden, May 12
GQ for “Inside the Iron Closet,” by Jeff Sharlet, February
The New Republic for “How Close They Came,” by Ben Birnbaum and Amir Tibon, August 4
The New Yorker for “The Hunt for El Chapo,” by Patrick Radden Keefe, May 5
Virginia Quarterly Review for “The Ghosts of Rana Plaza,” by Jason Motlagh, Spring
Feature Writing
Honors original, stylish storytelling
The Atavist for “Love and Ruin,” by James Verini, February
GQ for “The Strange and Curious Tale of the Last True Hermit,” by Michael Finkel, September
Grantland for “The Sea of Crises,” by Brian Phillips, November 5
The New York Times Magazine for “The Ballad of Geeshie and Elvie,” by John Jeremiah Sullivan, April 13
The New Yorker for “The Reckoning,” by Andrew Solomon, March 17
T, The New York Times Magazine for “Lost Knowledge,” by Jody Rosen, December 7
Texas Monthly for “The Witness,” by Pamela Colloff, September
Feature Photography Honors the use of original photography in a feature story, photo-essay or photo portfolio
Bloomberg Businessweek for “Border Lines,” photographs by Kirsten Luce, December 1
Harper’s Magazine for “Dark Heights,” photographs by Benjamin Lowy, May
Matter for “Whoever Saves a Life,” by Matthieu Aikins, photographs by Sebastiano Tomada, September 14
New York for “Magic Show,” photographs by Maurizio Cattelan and Pierpaolo Ferrari, February 17-24
TIME for “Crime Without Punishment,” photographs by Jerome Sessini, August
Essays and Criticism
Honors interpretative and critical journalism
The Atlantic for “The Case for Reparations,” by Ta-Nehisi Coates, June
The Georgia Review for “The One I Get and Other Artifacts,” by Carol Ann Davis, Winter
The New Yorker for “This Old Man,” by Roger Angell, February 17 and 24
Vanity Fair for “Shame and Survival,” by Monica Lewinsky, June
Virginia Quarterly Review for “Smuggler: A Memoir of Gay Male Literature,” by Philip Kennicott, Fall
Columns and Commentary
Honors political and social commentary; news analysis; and reviews and criticism
Grantland for three columns by Wesley Morris: “Let’s Be Real,” August 15; “After Normal,” February 21; and “If U Seek Amy,” October 3
The New Republic for five posts by Rebecca Traister: “When Michael Dunn Compared Himself to a Rape Victim, He Was Following an Old, Racist Script,” October 23; “I Don’t Care If You Like It,” July 16; “I Sort of Hope We Find Out That Jill Abramson Was Robbing the Cash Register,” May 15; “Jill Abramson’s Firing Was About Gender. And Also Not About Gender,” May 22; and “The Slenderman Stabbing Shows Girls Will Be Girls, Too,” June 4
New York for three columns by Jerry Saltz: “Zombies on the Walls: Why Does So Much New Abstraction Look the Same?,” June 16-29; “Taking in Jeff Koons, Creator and Destroyer of Worlds,” June 30-July 13; and “Post-Macho God: Matisse’s Cut-Outs Are World-Historically Gorgeous,” October 8
The Oxford American for three columns by Chris Offutt: “Chicken Eggs,” Spring; “Bourbon and Cheese,” Summer; and “CIA Cake and Jeff Davis Pie,” Fall
Texas Monthly for three columns by Stephen Harrigan: “Dreaming in the Dark,” February; “Before the McConaissance,” April; and “A Double Date With Leatherface,” July
Fiction
Honors fiction originally published in magazines
The Antioch Review for “Afternoon in Byzantium,” by Rick DeMarinis, Summer
The New Yorker for “The Emerald Light in the Air,” by Donald Antrim, February 3
The New Yorker for “Scheherazade,” by Haruki Murakami, October 13
The Paris Review for “Miss Adele Amidst the Corsets,” by Zadie Smith, Spring
Virginia Quarterly Review for “Serve-and-Volley, Near Vichy,” by Greg Jackson, Fall
Magazine of the Year
Honors magazines for print and digital editorial excellence and for magazine-branded content and services, including conferences and events
Better Homes and Gardens; Cosmopolitan; The Hollywood Reporter; New York; Vogue
All publication dates 2014 unless otherwise indicated
About ASME
The American Society of Magazine Editors is the principal organization for magazine journalists in the United States. The members of ASME include the editorial leaders of most major consumer and business magazines published in print and on digital platforms. Founded in 1963, ASME works to defend the First Amendment, protect editorial independence and support the development of journalism. ASME sponsors the National Magazine Awards in association with the Columbia Journalism School and publishes the ASME Guidelines for Editors and Publishers.
About Columbia Journalism School
For over a century, the Columbia University Graduate School of Journalism has been preparing journalists with instruction and training that stresses academic rigor, ethics, journalistic inquiry and professional practice. Founded with a gift from Joseph Pulitzer, the school opened its doors in 1912 and offers master of science, master of arts and doctor of philosophy degrees. Learn more at journalism.columbia.edu.
2014 was another year of industry-leading growth for Hearst Newspapers. With 15 daily and 34 weekly papers across the country, in addition to digital marketing services and directories businesses under the LocalEdge brand, Hearst newspapers are continuously innovating to provide both readers and advertisers with cross-platform solutions for the increasingly digital world.
2014 was the third year of consecutive growth for Hearst Newspapers. Can you talk more about that?
Mark Aldam: At Hearst Newspapers, we’ve been working very hard to diversify our revenue streams and build out a sustainable business model for all of our newspapers. Concentrating principally on our large markets, we have implemented a digital advertising strategy, which helps to compensate for the challenges we still face in print.
Our division has also introduced a premium digital experience that we hope consumers will pay for over time—it more similarly reflects the print newspaper experience, but in a digital form of the reader’s choice. We’ve been focusing strongly on those objectives and have been very diligent on cost management, as well as continually driving the top line as hard as we can. All of the benchmarking data we’ve seen over the past several years suggests that Hearst Newspapers is near the top, if not at the top, of the industry, and we’re proud of the fact that our digital businesses are helping to provide continued improvement.
As the media world rapidly evolves, there seems to be a growing need for more local and regional information. How have you transformed the Hearst Newspapers business model for the current and future needs of your readers and advertisers?
Aldam: Digitally, we’re targeting the business client more directly with segmented solutions. For example, in each of our large markets, we have an in-house digital ad agency that offers more sophisticated digital solutions for institutional advertisers, including hospitals, universities and government entities. These clients require marketing solutions that go beyond the boundaries of our print circulation, so our new digital initiatives have helped us serve the entire business community.
For the business operator, it is important for us to provide solutions that reflect the fragmentation that exists in the market. There are so many options today, so we have to be more versatile in the number of advertising channels and the types of media solutions that we can bring to the table.
In terms of our readers, we’re transformed our model to increase the focus on mobile. We’re continuously striving to make sure that we have news information that is breaking and relevant to our readers’ lives at the touch of a finger in an optimized, easy-to-navigate mobile environment. We’ve also ramped up our focus on providing the most shareable information through social channels.
In addition to serving Hearst properties across the country, LocalEdge also offers services to companies outside of the Hearst family, and now, outside of the U.S. Can you tell us more about this expansion and its benefits?
Aldam: We have about 11 media companies that are reselling our LocalEdge solutions under a white label in their local market. The Dallas Morning News was our pioneering affiliate—they helped launch this model. They bring the LocalEdge solution kit to their sales team to serve customers that are in the five to fifteen thousand dollar per year advertising spend range. It’s definitely at the lower end of the spend level for newspapers, but it’s a growing base of customers that historically newspapers haven’t served.
These partnerships are important to us because they help expand the reach of Hearst Newspapers. We don’t necessarily have to employ a sales representative on Long Island to sell these products and solutions because they are available to advertisers through Newsday’s sales force. We fulfill the customers’ media needs through the LocalEdge headquarters in Buffalo, and then we collect a small fee for working with them.
Internationally, we have a partnership with Fairfax Media out of New Zealand and Australia. They are scaling up rapidly with more direct sellers, so we’re hopeful that they will have great success and that we’ll continue to be business partners for a long time.
Can you talk about the importance of finding great talent? How does the Hearst Newspapers Fellowship play into that objective?
Aldam: Hearst Newspapers is continually searching for the right talent to help manage the complexity at every level of our business. Our industry has become more and more diverse and requires a different skill set than was necessary 30 years ago. We’re constantly searching and mining the local markets for talent, but we’re also recruiting nationally to find the digital and publishing skillsets that we need across our digital platforms and the leadership that can manage the complexity of the business.
Our Fellowship Program is extremely valuable in our search for great talent. I’m very pleased that we’ve doubled down our commitment to increasing the number of Fellows that we can bring into the Program on an annual basis, as it provides us with an indispensable pipeline of talent. We should have between eight to 12 Fellows in one of our large markets by the end of 2015, and were going to continue to work through that two year cycle so we’ll always have as many as 20 Fellows in our newsrooms.
Our Fellows bring new skills, new solutions and an interest in advancing our industry. All of the editors are fully enthusiastic about the program because it’s a mutual contract—we’re giving experience, but we’re also gaining insight and access to skills that are new to our newsrooms.
Speaking of talent, you’ve just promoted Audrey Cooper to editor of the San Francisco Chronicle, where she’ll be the first female editor in the paper’s 150-year history. Can you tell us more about what she brings to her new role?
Aldam: Let me first say that Nancy Barnes, who joined us a year ago, is the editor of the Houston Chronicle. She has dramatically elevated the quality and the experience of the Houston Chronicle every day. She brought in a leadership team that is tackling the challenge of upgrading a newsroom and a news product during a time that many other companies are cutting back. We’re very excited to have her on board.
Likewise, Audrey brings tremendous versatility to the leadership role at the San Francisco Chronicle. She is socially engaged, digitally activated and in touch with the pulse of the community. She has risen through the ranks and knows that newsroom intimately, but she also understands the skills that are necessary to be competitive in a very technologically-savvy market. And very importantly, she’s very passionate about the challenge. She understands that we need to make a few investments in investigative journalism to reinforce the exceptional daily newspaper experience that the Chronicle has owned historically. We have plans to surround Audrey with a few other people who can bring some additional experience to complement her as well.
What’s next for Hearst Newspapers as it continues on this very successful path?
Aldam: In 2015, we are working hard to strengthen all of the programmatic digital channels that are available to us. We see this area as a huge growth path—our digital marketing services business has been growing by 25 percent each year, and our digital display and native ad businesses continue to grow at double-digit rates.
Over the next several years, we’re planning to consolidate some of our facilities, and we’re also importing work from third-party neighboring communities where we’ll be the printer and packaging agent. This will allow us to optimize our excess capacity in the print business.
The most important goal for the future of Hearst Newspapers will be to continue generating success through our consumer digital products. We want to ensure that these products are not only activated by customers who have access to them, but also that they’re being used on a regular basis.
New York, NY, and Universal City, CA – iHeartMedia and NBC announced today the finalists for the 2015 iHeartRadio Music Awards, which returns to the historic Shrine Auditorium in Los Angeles on Sunday, March 29. The event will be televised live on NBC from 8-11 p.m. ET/PT and broadcast simultaneously on iHeartMedia stations nationwide and across the iHeartRadio digital music platform.
The awards will celebrate the year’s amazing music that’s been heard across iHeartMedia radio stations and on iHeartRadio nationwide and will feature today’s biggest artists and songs with live performances, never-before-done duets and collaborations, celebrity guest appearances and live award presentations. iHeartRadio On the Verge artist Iggy Azalea and Sam Smith lead nominees with five nominations, including Best New Artist, while Taylor Swift and Ariana Grande each received four nominations. The nominations are a true reflection of a banner year for female artists especially Swift, who released her multiplatinum album “1989.” Swift, Azalea and Grande will go head-to-head against Luke Bryan and Sam Smith for the coveted Artist of the Year award.
The inaugural 2014 iHeartRadio Music Awards telecast showcased the year’s most popular artists and songs determined by the iHeartRadio Chart and music fans nationwide who cast more than 65 million votes using hashtags on Facebook and Twitter. More than 5.5 million people, up 86 percent vs. the time period average, tuned in to watch exhilarating performances by music’s biggest names and to see which of their favorite artists were selected as winners for categories such as Best Collaboration and Alt Rock Song of the Year. Among the winners were Lorde for Best New Artist, Blake Shelton’s “Boys ‘Round Here” for Country Song of the Year and Rihanna, last year’s top vote-getter, with awards for Artist of the Year, Song of the Year, Hip Hop/R&B Song of the Year and Best Fan Army.
The 2014 award show received a record-setting 8.5 billion social impressions and was a dominant social media topic throughout the week of the show. Additionally, #iHeartAwards trended No. 1 on Twitter throughout the night and the awards were ranked No. 1 in Nielsen’s Twitter TV Ratings Top 10 Programs for the week.
This year’s awards will feature a broad array of exciting categories, with fan voting determining Best Fan Army, Best Lyrics and the first-ever Renegade Award, sponsored by the Jeep brand. This award, which captures the spirit of the all-new 2015 Jeep Renegade, recognizes an emerging standout artist that defies convention and who takes risks while still staying true to themselves. They explore new sounds and not only break external boundaries but their own personal boundaries, as well; creating new music lanes that are distinctly their own; artists with the talent and spirit to separate from the pack. This award acknowledges an authentic, passionate artist willing to stretch the limits in order to do something extraordinary – a renegade. Voting will begin on Monday, March 2 and extend through Friday, March 20. Category finalists (by alphabetical order) are:
Artist of the Year:
Ariana Grande
Iggy Azalea
Luke Bryan
Sam Smith
Taylor Swift
Song of the Year:
“All About That Bass” – Meghan Trainor
“All of Me” – John Legend
“Happy” – Pharrell Williams
“Shake It Off” – Taylor Swift
“Stay With Me” – Sam Smith
Best Collaboration:
“Bang Bang” – Jessie J + Ariana Grande + Nicki Minaj
“Dark Horse” – Katy Perry featuring Juicy J
“Fancy” – Iggy Azalea featuring Charli XCX
“Problem” – Ariana Grande featuring Iggy Azalea
“Talk Dirty” – Jason Derulo featuring 2 Chainz
Best New Artist:
Bastille
Cole Swindell
Iggy Azalea
Meghan Trainor
Sam Smith
Country Song of the Year:
“Bartender” – Lady Antebellum
“Burnin’ It Down” – Jason Aldean
“Dirt” – Florida Georgia Line
“Give Me Back My Hometown” – Eric Church
“Play It Again” – Luke Bryan
Hip Hop/R&B Song of the Year:
“Don’t Tell ‘Em” – Jeremih featuring YG
“Drunk in Love” – Beyoncé featuring Jay Z
“Flawless” – Beyoncé
“Loyal” – Chris Brown featuring Lil
Wayne and Tyga
“New Flame” – Chris Brown featuring Usher and Rick Ross
Dance Song of the Year:
“Animals” – Martin Garrix
“Blame” – Calvin Harris featuring John Newman
“La La La” – Naughty Boy featuring Sam Smith
“Summer” – Calvin Harris “Waves” – Mr. Probz
Alternative Rock Song of the Year:
“Come With Me Now” – KONGOS
“Do I Wanna Know?” – Arctic Monkeys
“Fever” – The Black Keys
“Something From Nothing” – Foo Fighters
“Take Me to Church” – Hozier
Best Lyrics:
“All of Me” – John Legend
“Blank Space” – Taylor Swift
“Counting Stars” – OneRepublic
“Habits (Stay High)” – Tove Lo
“Stay With Me” – Sam Smith
“Thinking Out Loud” – Ed Sheeran
Best Fan Army:
5SOSFAM – 5 Seconds of Summer
Arianators – Ariana Grande
Bey Hive – Beyoncé
Team Breezy – Chris Brown
Sheerios – Ed Sheeran
Church Choir – Eric Church
Directioners – One Direction
Selenators – Selena Gomez
Mendes Army – Shawn Mendes
Swifties – Taylor Swift
Renegade:
Brantley Gilbert
Charli XCX
Hozier
Iggy Azalea
Meghan Trainor
The iHeartRadio Music Awards will be executive produced by John Sykes, Tom Poleman and Liz Kelly of iHeartMedia, along with Ian Stewart and Hamish Hamilton of Done and Dusted Inc., who will also produce the show for NBC Studios. Hamilton will also direct.
For breaking news, additional new award categories and exclusive iHeartRadio Music Awards content visit iHeartRadio.com/awards or follow the social buzz on Twitter, Facebook, Instagram and Google +.
About NBC Entertainment
NBC Entertainment develops and schedules programming for the network’s primetime, late-night, and daytime schedules. NBC’s quality programs and balanced lineup have earned the network critical acclaim, numerous awards and ratings success. The network finished the 2013-14 season as No. 1 in the 18-49 demo for the first time in 10 years. NBC has earned more Emmy Awards than any network in television history. NBC’s roster of popular scripted comedies includes the critically acclaimed “Parks and Recreation,” as well as “About a Boy” and “Marry Me.” NBC’s drama slate is highlighted by “The Blacklist,” veteran series “Law & Order: Special Victims Unit,” fan favorites “Parenthood,” “Grimm,” “The Night Shift,” “Chicago Fire” and “Chicago P.D.,” as well as its new series “Allegiance,” “A.D.,” “Odyssey” and “The Slap.”
Unscripted series for NBC include the Emmy Award-winning musical competition hit “The Voice” as well as “The Biggest Loser,” “Hollywood Game Night” and the perennial #1 most-watched summer series, “America’s Got Talent.”
In late night, NBC regularly delivers #1 broadcast results with “The Tonight Show Starring Jimmy Fallon,” “Late Night with Seth Meyers,” “Last Call with Carson Daly” and “Saturday Night Live.” NBC Daytime’s “Days of our Lives” consistently ranks among daytime’s top programs in the valuable women 18-34 category. The five-time, Emmy Award-winning NBC.com streams full episodes and provides original content for NBC entertainment shows online and through apps for mobile and tablet devices.
NBC recently launched NBC Kids, a new Saturday morning programming block designed specifically to address the developmental needs of preschool-aged children. Programmed by the kids’ experts at Sprout, the nation’s first 24-hour preschool television channel, this new three-hour block will feature educational series that promote active, healthy lifestyles for younger children.
About Done+Dusted
Since its founding 15 years ago, Done + Dusted has made a name for itself as one of the biggest global live events and television production companies capable of executing a live show or concert from concept to broadcast in every medium and every film format worldwide. What they’ve learned along the way is applicable to any event, particularly now that many events of all types and sizes have both in-person and remote audiences. Some of their most recognized events they have produced include Madonna at Brixton Academy, which was the first live music event to crash the Internet, they are the only independent production company in history to film an Olympic and Para-Olympic Opening and Closing Ceremonies (London), produced the largest televised event in UAE history, produced the first intercontinental 3D broadcast, and countless other firsts. Recent producing projects include: the 2014 Laureus World Sports Awards from Malaysia, the 2014 iHeartRadio Music Awards, the 2014 Nickelodeon Kids Choice Sports Awards and 2014 Victoria’s Secret Fashion Show in London.
About 2015 Jeep Renegade
About 2015 Jeep Renegade The all-new 2015 Jeep Renegade expands the brand’s global vehicle lineup, entering the growing small SUV segment, while staying true to the fun-and-freedom lifestyle for which the Jeep brand is known. Renegade delivers a unique combination of best-in-class off-road capability, open-air freedom and convenience, a segment-first nine-speed automatic transmission that contributes to outstanding on-road and off-road driving dynamics, world-class refinement, two fuel-efficient MultiAir engines with more than 30 mpg, and a host of innovative safety and advanced technology offerings.
About iHeartMedia
With 245 million monthly listeners in the U.S., 97 million monthly digital uniques and 196 million monthly consumers of its Total Traffic and Weather Network, iHeartMedia has the largest reach of any radio or television outlet in America. It serves over 150 markets through 858 owned radio stations, and the company’s radio stations and content can be heard on AM/FM, HD digital radio, satellite radio, on the Internet at iHeartRadio.com and on the company’s radio station websites, on the iHeartRadio mobile app, in enhanced auto dashes, on tablets and smartphones, and on gaming consoles.
iHeartRadio, iHeartMedia’s digital radio platform, is the No. 1 all-in-one digital audio service with over 500 million downloads; it reached its first 20 million registered users faster than any digital service in Internet history and reached 50 million users faster than any digital music service and even faster than Twitter, Facebook and Pinterest. The company’s operations include radio broadcasting, online, mobile, digital and social media, live concerts and events, syndication, music research services and independent media representation.
New York, NY – iHeartMedia Inc., one of the leading global media and entertainment companies specializing in radio, digital, outdoor, mobile, live events, social and on-demand entertainment and information services, and Omnicom Media Group, the media services division of leading global advertising, marketing and corporate communications company Omnicom Group, announced today up to a $200 million, multi-platform partnership providing Omnicom Media Group clients with one-of-a-kind exposure and access to iHeartMedia’s constantly expanding roster of unparalleled events, sponsorship opportunities and technologies. The partnership will result in increased access to exceptional creative services and campaign ideation for Omnicom Media Group’s vast array of advertising clients.
The agreement provides a wealth of innovative opportunities for Omnicom Media Group’s clients to develop more effective creative media campaigns that utilize iHeartMedia’s cutting-edge multiplatform content and data, allowing advertisers to best maximize and leverage campaign spending and marketing plans.
As part of this new partnership, Omnicom Media Group and iHeartMedia will collaborate on developing new, groundbreaking audio and cross platform opportunities for clients that leverage technologies and insights from both companies.
In addition, Omnicom Media Group and iHeartMedia will develop joint research to provide clients with more comprehensive assessments of their advertising campaign efficacy while also informing media mix modeling. Clients will also be able to access iHeartMedia’s expanding programmatic buying platform, with both companies working together to shape the programmatic landscape to best serve the evolving needs of clients.
“Our partnership with iHeartMedia exemplifies Omnicom Media Group’s go to market approach, focusing on doing deeper, more significant deals with partners who are innovating in their category and providing more opportunities for our clients to engage with consumers in meaningful and memorable ways,” said John Swift, CEO North American Investment, Omnicom Media Group.
“At iHeartMedia we’re constantly searching for ways to utilize our unparalleled reach and insights into our consumers to help our advertising partners cultivate creative and cost-effective individualized marketing campaigns. What makes this new partnership with Omnicom so exciting is that it allows us to do that and more,” said Tim Castelli, President, National Sales, Marketing and Partnerships at iHeartMedia. “Ultimately, our collective goal is to leverage iHeartMedia’s technologies, insights, and comprehensive media offerings to provide Omnicom clients with richer media and marketing campaigns. We believe that with this new partnership, Omnicom Media Group clients will have the ability to leverage their partnerships with us to accomplish bigger and more impactful solutions.”
About iHeartMedia
With 245 million monthly listeners in the U.S., 97 million monthly digital uniques and 196 million monthly consumers of its Total Traffic and Weather Network, iHeartMedia has the largest reach of any radio or television outlet in America. It serves over 150 markets through 859 owned radio stations, and the company’s radio stations and content can be heard on AM/FM, HD digital radio, satellite radio, on the Internet at iHeartRadio.com and on the company’s radio station websites, on the iHeartRadio mobile app, in enhanced auto dashes, on tablets and smartphones, and on gaming consoles.
iHeartRadio, iHeartMedia’s digital radio platform, is the No. 1 all-in-one digital audio service with over 345 million downloads; it reached its first 20 million registered users faster than any digital service in Internet history and reached 50 million users faster than any digital music service and even faster than Twitter, Facebook and Pinterest. The company’s operations include radio broadcasting, online, mobile, digital and social media, live concerts and events, syndication, music research services and independent media representation.
BENGALURU, India, March 30, 2021 – Infomo and Adfomo today announced they had entered into a binding strategic merger agreement, subject to shareholder approval, to create a multi-channel self-serve media management platform for large publishers, and advertisers, globally. The platform extends the capabilities of the legacy Google Delivery Network (GDN/Programmatic) to include the selling and buying of traditional media.
The new multi-channel self-serve media sales platform delivers unique capabilities that enable large multi-channel media publishers to standardize and automate their sales processes to cover all types of media advertising including Digital, Print, Radio, TV, Out-Of-Home (OOH) and Digital-Out-Of-Home (DOOH) channels.
The platform standardizes and automates traditional media buying and selling and enables publishers to take control over digital ad sales. Infomo’s standardized media sales process provides substantial benefits to media buyers supporting marketing and advertising needs of brands, agencies, and the SME sector.
This initiative extends Infomo’s total addressable market significantly. According to Magna1, in 2020 the global ad spend was US$569 billion of which traditional media was estimated to be US$233 billion. Unlike USA, Australia, and a number of European countries, ad-spend with traditional media still outweighs digital ad spend. In India, digital advertising is still in its infancy with 2020 data revealing that digital advertising accounted for only 11% of the US$12.2 billion yearly ad spend.
Speaking about the merger, Peter Jermyn, Chairman of Infomo, said: “Infomo’s vision has always been centred around empowering sellers to take control over their own marketing value chains. By aggregating the significant potential of Adfomo with our own, we will be able to automate and standardize the digital and traditional media selling process and more strongly project ourselves as a unique media advertising group. The merger, in my view, creates the classic business equation of 1+1=3.”
Julian Glynn, the Chairman of Adfomo, noted: “Merging with Infomo will provide Adfomo an opportunity to immediately address a global market. Adfomo is a perfect fit with Infomo’s global strategy adding necessary components to integrate the selling of all types of traditional media sales into Infomo’s digital sales platform.”
Welcoming this merger, Infomo Founder & CEO Ananda Rao said: “Advertisers in today’s world require self-serve automated solutions to buy media and they need extensive audience reach, known audience targeting, and measurable audience engagement. Our partnerships with telecom carriers and leading publishers around the world provide advertisers access to massive known audiences. Our merged platform provides a range of new and powerful capabilities enabling publishers to directly expose multi-channel inventory and advertisers to directly target, engage and interact with known audiences.”
Speaking about the strategic possibilities, Adfomo Founder & CEO George Papadopoulos commented: “Adfomo was founded to provide a standalone marketplace to sell and buy traditional media inventory. Empowering publishers with their own comprehensive multi-channel media sales solution will automate and standardize the buying of any kind of media. Most media publishers run traditional and digital channels separately. It is difficult to commercially justify a stand-alone digital division. Further, running separate traditional and digital businesses is not efficient. Together with Infomo, we now deliver one fully integrated media management platform that makes it extremely easy for publishers and advertisers to work collaboratively to design and run customized multi-channel campaigns.”
About Infomo:
Infomo is the first company in the world to design and deploy a publisher-centric platform to sell digital inventory. Infomo provides an innovative web and app advertising ecosystem that harnesses the unique power and reach of telecom operators and large publishers and their significant subscriber communities to deliver engaging, media-rich, and highly targeted premium advertising and promotional content to subscribers during their everyday online activities. Learn more at www.infomo.com.
New York, NY – Interpublic Group (NYSE: IPG) announced today that the company has made a strategic investment in tech platform ADstruc, which specializes in automating the process of planning and buying outdoor advertising. The holding company’s IPG Media Lab initiated the relationship with ADstruc and has overseen its deployment to IPG’s global Out-of-Home (OOH) specialist agency, Rapport. Terms of the minority investment by IPG in the venture-backed ADstruc were not disclosed.
ADstruc is a unique platform that consolidates OOH inventory for major outdoor providers and independent owners and creates a comprehensive online workflow for OOH media. The partnership is expected to modernize and simplify the OOH planning and buying process for IPG agencies and their clients.
Outdoor advertising includes media such as billboards, transit and street furniture, as well as place-based networks. Interpublic advertising forecasting unit MAGNA GLOBAL estimates that the OOH market in the U.S. will grow by 4.8% and total $7.3 billion in 2014.
Michael Roth, Chairman and CEO of Interpublic, commented, “Outdoor advertising’s transition to a more digital channel has made it one of the fastest growing media disciplines and has put Rapport Worldwide at the forefront of how agencies and clients can deliver innovative messaging on the channel. Working with ADstruc, we expect Rapport’s leadership position in the industry to continue and strengthen.” Roth continued, “The IPG Media Lab is unique in its ability to identify key partners that can jumpstart greater efficiency and accountability in the ad industry. They know all sides of the business and have a successful track record when it comes to honing in on companies that can move the needle for our clients’ businesses. This strategic partnership with ADstruc will be equally effective.”
Chad Stoller, Managing Partner, IPG Media Lab commented, “ADstruc has managed to do what no player in the ad space has done before. It has obtained the buy-in of all the major operators as well as hundreds of smaller regional owners of outdoor, in order to seamlessly consolidate, track and buy outdoor media.”
In addition to the IPG investment, Rapport U.S. has entered into a strategic agreement with ADstruc. The agreement includes the implementation of a new model that will shift the purchase of Rapport’s OOH buys to a more automated system, in keeping with IPG Mediabrands’ commitment to automate half of its media buys by 2016.
Mike Cooper, President of Rapport U.S., stated, “Outdoor advertising can be an efficient and accurate channel for clients. However, buying and planning OOH can also be a cumbersome, disjointed process. This deal streamlines the process and puts Rapport where we need to be. It frees up our account teams to think and plan more creatively, focusing on service and results for our clients.”
The ADstruc platform connects each component of Rapport’s planning and buying through its third-party integrations, including Mediaocean and Telmar. It will enable Rapport’s OOH planners to quickly and easily plan and buy OOH audiences in line with other media, making their campaigns more measurable and accountable.
John Laramie, the CEO and Founder of ADstruc added, “This long-term commitment from one of the industry’s most important players in advertising is a big step for the OOH industry. It sets the standard for how OOH media will be planned and bought going forward, and brings efficiencies to both sides of the market. We are excited to work with IPG and Rapport and look forward to a long-term successful partnership.”
About Interpublic
Interpublic is one of the world’s leading organizations of advertising agencies and marketing services companies. Major global brands include BPN, Draftfcb, FutureBrand, GolinHarris International, Huge, Initiative, Jack Morton Worldwide, Lowe and Partners, MAGNA GLOBAL, McCann, Momentum, MRM, Octagon, R/GA, UM and Weber Shandwick. Leading domestic brands include Campbell Mithun, Carmichael Lynch, Deutsch, Gotham Inc., Hill Holliday, ID Media, Lowe Campbell Ewald, Mullen and The Martin Agency.
About IPG Mediabrands
We were founded by Interpublic Group (NYSE: IPG) in 2007 to manage all of its global media related assets. Today that means we manage and invest $37 billion in global media on the behalf of our clients, employ over 8,500 diverse and daring marketing communication specialists worldwide and operate our company businesses in more than 130 countries.
A proven entity in helping clients maximize business results through integrated, intelligence-driven marketing strategies, IPG Mediabrands is committed to driving automated buying, pay-for-performance and digital innovation solutions through its network of media agencies including UM, Initiative, BPN, Orion Holdings, and ID Media. Its roster of specialty service agencies including MAGNA GLOBAL, Mediabrands Audience Platform, Mediabrands Publishing, IPG Media Lab, Ensemble, and Identity offer technologies and industry moving partnerships that are recognized for delivering unprecedented bottom line results for clients.
About IPG Media Lab
The IPG Media Lab is equal parts think tank, real-world proving ground, and change enabler. We provide agencies and media operators with the power to harness emerging communication opportunities by offering expertise, resources and consulting services tailored to drive quantifiable outcomes, learnings and strategies. The IPG Media Lab is part of IPG Mediabrands, the media innovation and investment arm of IPG. For more information, please visit www.ipglab.com or follow @ipglab.
This news is courtesy of www.interpublic.com
New York, NY – LATAM Airlines Group, which operates the LAN and TAM brands, has chosen Interpublic Group (NYSE: IPG) as its new global agency network for markets in the Americas, Europe and Oceania where the company operates.
Five large agency holding companies participated in a competitive review, which began in March of this year. The selection process considered the presence of each agency’s network in the region where LATAM Airline Group companies operate; the history of work/contact with the groups; structure, governance and résumé; client and partner feedback; the level of complexity in inserting each agency into the daily activities of LAN and TAM; tools available and utilized by each group; and, finally, their performance on a test case, with a creative and strategic exercise.
“Each of the groups presented excellent proposals and we are very happy with the conclusion of this process. Our next big challenge is launching the LATAM brand in the first half of 2016. Now, we will focus our efforts on promoting IPG’s immersion into our company’s culture and implementing a global work plan. We have joined forces with our current partners to ensure all ongoing projects reach completion by the end of the year,” said Jerome Cadier, VP of Marketing at LATAM Airlines Group.
LATAM’s new marketing and communications partner will be responsible for planning, creative, media, performance, social networks and CRM in the 24 countries where TAM and LAN currently operate. The IPG solution revolves around an integrated, bespoke agency team – named Graphene – that will be fully dedicated to LATAM Airlines.
The IPG team will be led by McCann Worldgroup and IPG Mediabrands, and includes talent and tools from McCann, Initiative, Reprise, Cadreon, MRM//McCann and Craft, as well as from a senior IPG corporate executive. Key to the model’s design is its flexibility and access to the full range of communication services from across IPG worldwide.
Graphene will provide unified, integrated marketing communication services in all geographies that LATAM Airlines Group operates, ensuring the brand is efficiently and effectively brought to life. With this new service model, LATAM Airlines Group will simplify processes, improve coordination and communication between different countries, and streamline the use of resources – all designed to ensure more consistent, integrated, and valuable marketing programs.
Michael I. Roth, Chairman and CEO of Interpublic Group, said, “We are honored to have been named by LATAM Airlines Group and look forward to the opportunity to make significant contributions to building their business. This kind of integrated model is one that we have championed at our company, through our customized “open architecture” solutions, and one with which our clients have seen great success. It’s an approach that’s ideal for a progressive company like LATAM Airlines Group, in that it will enhance their ability to reach consumers with consistent, powerful and targeted brand message, across marketing channels and geographic borders.”
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About LATAM Airlines Group S.A.
LATAM Airlines Group S.A. is the new name given to LAN Airlines S.A. as a result of its association with TAM S.A. LATAM Airlines Group S.A. now includes LAN Airlines and its affiliates in Peru, Argentina, Colombia and Ecuador, and LAN Cargo and its affiliates, as well as TAM S.A. and its subsidiaries TAM Linhas Aereas S.A., including its business units TAM Transportes Aereos del Mercosur S.A., (TAM Airlines (Paraguay)) and Multiplus S.A. This association creates one of the largest airline groups in the world in terms of network connections, providing passenger transport services to about 140 destinations in 24 countries and cargo services to about 144 destinations in 26 countries, with a fleet of 318 aircraft. In total, LATAM Airlines Group S.A. has approximately 53,000 employees and its shares are traded in Santiago, as well as on the New York Stock Exchange, in the form of ADRs, and Sao Paulo Stock Exchange, in the form of BDRs.
Each airline will continue to operate under their current brands and identities. For any inquiry of LAN or TAM, please visit www.lan.com or www.tam.com.br, respectively. Further information at www.latamairlinesgroup.net
About Interpublic
Interpublic is one of the world’s leading organizations of advertising agencies and marketing services companies. Major global brands include BPN, Craft, FCB (Foote, Cone & Belding), FutureBrand, Golin, Huge, Initiative, Jack Morton Worldwide, MAGNA GLOBAL, McCann, Momentum, MRM//McCann, Mullen Lowe Group, Octagon, R/GA, UM and Weber Shandwick. Other leading brands include Avrett Free Ginsberg, Campbell Ewald, Carmichael Lynch, Deutsch, Hill Holliday, ID Media and The Martin Agency. For more information, please visit www.interpublic.com.
ENGLEWOOD, Colo.- Liberty Interactive Corporation (NASDAQ: QVCA, QVCB, LNVTA, LVNTB) (“Liberty Interactive”) today announced that it has entered into an agreement with Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK) (“Liberty Broadband”) whereby Liberty Interactive will invest $2.4 billion in Liberty Broadband in connection with (and contingent upon) the closing of today’s announced proposed merger of Charter Communications, Inc. (“Charter”) and Time Warner Cable Inc. (“TWC”). The proceeds of this investment will be used by Liberty Broadband to fund, in part, its agreement to acquire $4.3 billion of Charter stock. Liberty Broadband’s acquisition will be made in support of (and contingent upon) the closing of the Charter-TWC merger. In connection with these transactions, it is expected that Charter will undergo a corporate reorganization, resulting in a current subsidiary of Charter becoming the publicly traded parent company (“New Charter”). Liberty Interactive’s investment in Liberty Broadband will be funded using cash on hand and will be attributed to the Liberty Ventures Group.
“We are excited for Liberty Interactive to make this attractive investment in Liberty Broadband, providing our shareholders with the unique opportunity to realize value from the proposed consolidation in the cable industry announced today by Charter,” said Greg Maffei, President and CEO of Liberty Interactive. “Through this transaction, Liberty Interactive has the ability to deploy a significant amount of capital and become a meaningful shareholder of Liberty Broadband.”
Liberty Interactive (along with third party investors, all of whom will invest on the same terms as Liberty Interactive) will purchase newly issued shares of Liberty Broadband Series C common stock (the “Series C Shares”) at a per share price of $56.23 (equal to Liberty Broadband’s net asset value on a sum-of-the parts basis). In the aggregate, Liberty Broadband has entered into subscription agreements with respect to $4.4 billion of its Series C Shares. Liberty Interactive’s investment in Liberty Broadband is subject to customary closing conditions and funding will only occur upon the completion of the Charter-TWC merger. Liberty Broadband intends to seek stockholder approval for the issuance of the Series C Shares in accordance with the rules and requirements of the Nasdaq Stock Market. If, for any reason, Liberty Broadband does not receive the requisite stockholder approval for the issuance of the Series C Shares, the purchasers will instead acquire a limited number of Series C Shares, together with shares of a newly issued series of non-convertible preferred stock of Liberty Broadband.
Liberty Broadband and Liberty Interactive have also entered into an agreement with Charter which provides that Liberty Broadband and Liberty Interactive will exchange, in a tax-free transaction, the shares of TWC common stock held by each company for shares of New Charter Class A common stock (subject to certain limitations). In addition, Liberty Interactive has also agreed to grant Liberty Broadband a proxy over the shares of New Charter stock it receives in the exchange, along with a right of first refusal with respect to the underlying New Charter stock.
About Liberty Interactive Corporation
Liberty Interactive Corporation operates and owns interests in a broad range of digital commerce businesses. Those businesses are currently attributed to two tracking stock groups: the QVC Group and the Liberty Ventures Group. The businesses and assets attributed to the QVC Group (Nasdaq: QVCA, QVCB) consist of Liberty Interactive’s subsidiary, QVC, Inc., and its interest in HSN, Inc., and the businesses and assets attributed to the Liberty Ventures Group (Nasdaq: LVNTA, LVNTB) consist of all of Liberty Interactive Corporation’s businesses and assets other than those attributed to the QVC Group, including its interest in Expedia, Interval Leisure Group, Lending Tree and FTD, its subsidiaries Backcountry.com, Bodybuilding.com, CommerceHub, LMC Right Start and Evite, and minority interests in Time Warner and Time Warner Cable.
NEW YORK – Matt Murray has been named Editor-in-Chief of The Wall Street Journal and Dow Jones Newswires, succeeding Gerard Baker, who is to take up a new position as the Journal’s Editor-at-Large, which will include regular writing, hosting the paper’s expanding network of conferences and events, and television presenting. Mr. Murray is currently Executive Editor of the Journal.
Under Mr. Baker’s five-and-a-half year tenure, the Journal’s daily circulation has grown by more than a third, led by a rapid digital expansion, and at a time of declining trust in news media the paper has cemented its position as the most trusted newspaper in America. The Journal has consistently led the field with the deepest and most consequential reporting on US and global business, finance and economics news, and it has been the principal contributor to Dow Jones hitting three million memberships this year, creating a firm base for the future of the highest quality journalism. The paper’s technological transformation has resulted in rapid international expansion under Mr. Baker’s leadership and its Conference network is continuing to grow on a global scale.
Robert Thomson, Chief Executive of News Corp, said: “Gerry has been a very successful editor at a time when journalism has been digitally challenged. I have no doubt that Matt is a worthy successor as Editor-in-Chief and will be a leader of the highest commitment and integrity. His strong reporting and editing background and his passion for the Journal are obvious to all who have the privilege of working with him.
“In his new role, Gerry, who is a gifted writer and skillful and intelligent interviewer, will continue to make an important contribution to the Journal’s development.”
William Lewis, Chief Executive of Dow Jones & Company, said: “I thank Gerry for his contribution to the great growth of the Journal in recent years, and look forward to his continuing work with us in his new roles. And I know Matt is the right person to take the reins and help us seize the great, new opportunities before us. We see many fruits from our work in embracing digital transformation and a deeper membership model, and there is much yet to do.”
Mr. Baker will write a regular column in Review, the paper’s weekend section, as well as other articles for the paper. In addition, he will host a WSJ-branded news and interview show on Fox Business Network and be a leading voice of the Journal’s rapidly expanding live journalism and events business, conducting interviews with leading figures from business, politics and culture.
The five-member Dow Jones Special Committee, formed in 2007 to monitor editorial standards and ethics issues at The Wall Street Journal, has unanimously approved the changes. Under the Agreement which established the committee, as well as subsequent amendments, management is required to give the committee timely notice of plans to make changes in top editorial leadership.
Commenting on the changes Gerry Baker said:
“It has been an extraordinary opportunity to have led the world’s greatest and most trusted news organization. I’m enormously grateful to Rupert, Lachlan and Robert for entrusting me with the Journal’s mission and it has been an unsurpassed privilege to have worked with so many talented and dedicated colleagues,” he said.
“There has never been a more important time nor a greater demand for trusted, authoritative, objective journalism and I am very much looking forward to continuing to pursue that mission as a writer, commentator and interviewer. I am honored to hand over the reins of this venerable institution to Matt Murray, an editor of unsurpassed quality and a trusted friend and colleague.”
Matt Murray said:
“I am honored to have been appointed Editor-in-Chief of The Wall Street Journal and it is a privilege to serve our millions of readers in print and digital. Our diverse array of talented journalists, ranging from reporters to graphic artists, video producers to data experts, are the best in the business. Every day, we set out to ensure that we are the most trusted source of news and information. We’re especially proud that the Journal is absolutely the preeminent news organization in business, economics and markets, the forces that shape so much in the modern world, and that Dow Jones Newswires is growing digitally and internationally as it provides business and market insights and analysis to clients around the world.”
“There is little doubt that at a time when journalism faces a host of challenges, readers are hungry for sophisticated, fair, illuminating and fact-based journalism–and see us as a uniquely trusted news source.”
“I especially appreciate the support of Rupert and Lachlan Murdoch, Robert, Will, and the leadership of Dow Jones, and I thank Gerry for his significant contributions to the Journal and his support for me.”
Prior to his appointment as Executive Editor, Mr. Murray was Deputy Editor-in-Chief since 2013, and had been a Deputy Managing Editor since 2008. He joined Dow Jones & Company in 1994 as a reporter for the Pittsburgh bureau. In 1997, he joined the Journal’s Money & Investing section, where he covered banking.
Mr. Murray joined the news desk in 2004, and later served as a deputy national editor and national news editor. He is the author of The Father and the Son and the co-author, with former New York City fire commissioner Thomas Von Essen, of Strong of Heart. He holds Bachelor’s and Master’s degrees in journalism from Northwestern University and lives in New York with his wife and daughter.
Mr. Murray will formally take the Editorship of The Wall Street Journal and Dow Jones Newswires on Monday, June 11.
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About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news gathering operations globally. It produces leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Factiva, Barron’s, MarketWatch, Financial News, Mansion Global, Dow Jones Risk & Compliance, Dow Jones Newswires, and Dow Jones VentureSource. Dow Jones is a division of News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV).
About Dow Jones Special Committee
The five-person Dow Jones Special Committee operates under an Agreement between the former owners of Dow Jones and News Corp after the purchase in 2007. Its charter gives it the responsibility for monitoring the adherence of The Wall Street Journal and Dow Jones Newswires to the highest journalistic, ethical and professional standards.
DES MOINES, Iowa, — Meredith Corporation (NYSE: MDP; www.meredith.com) announced today that it has entered into a binding agreement to acquire all outstanding shares of Time Inc. (NYSE: TIME; www.timeinc.com) for $18.50 per share in an all-cash transaction valued at $2.8 billion. The transaction has been unanimously approved by the Boards of Directors of Meredith and Time Inc., and is expected to close during the first quarter of calendar 2018.
Meredith introduces an updated market positioning and logo that reflect the strength of Meredith’s national and local consumer media brands as well as its expanded portfolio of marketing solutions. (PRNewsFoto/Meredith Corporation) (PRNewsfoto/Meredith Corporation)
“We are creating a premier media company serving nearly 200 million American consumers across industry-leading digital, television, print, video, mobile, and social platforms positioned for growth,” said Meredith Corporation Chairman and CEO Stephen M. Lacy. “We are adding the rich content-creation capabilities of some of the media industry’s strongest national brands to a powerful local television business that is generating record earnings, offering advertisers and marketers unparalleled reach to American adults. We are also creating a powerful digital media business with 170 million monthly unique visitors in the U.S. and over 10 billion annual video views, enhancing Meredith’s leadership position in reaching Millennials.”
The transaction will create a diversified media and marketing company with calendar 2016 combined revenues of $4.8 billion – including $2.7 billion of total advertising revenues with nearly $700 million of digital advertising revenues – and adjusted EBITDA of $800 million. Additionally, Meredith anticipates generating cost synergies of $400 million to $500 million in the first full two years of operation.
“This is a transformative transaction for Meredith Corporation, and follows a fiscal 2017 in which we posted the highest revenues, profit and earnings per share in our 115-year history,” said Meredith President and Chief Operating Officer Tom Harty. “When you combine our strong local television business – which has grown operating profit 15 percent annually over the last five years – with the trusted, premium multiplatform content creation of Meredith and Time Inc., it creates a powerful media company serving consumers and advertisers alike. We look forward to completing the transaction; welcoming the Time Inc. employees to Meredith; delivering on our pledge to achieve identified synergies; and growing shareholder value.”
Key Strategic and Financial Benefits of the Transaction:
Creates unparalleled portfolio of national media brands with greater scale and efficiency – Combined, Meredith’s brands will have a readership of 135 million and paid circulation of nearly 60 million, with leading positions in celebrity, food, lifestyle, news and sports, parenting, and home content creation, as well as enhanced positions in the beauty, fashion and luxury advertising categories.
Continues the strong and growing contribution from local media – Meredith’s portfolio of 17 high-performing television stations in 12 markets is a consistent generator of strong cash flow. Meredith’s stations – which reach more than 11 percent of U.S. television households – are primarily Big 4 network affiliates located in fast-growing markets. In fiscal 2017, Meredith’s broadcasting business delivered the best year in its 60-year history, generating record revenues and profit – including more than $60 million of political ad revenues – and an EBITDA margin of 40 percent. Looking ahead, Meredith anticipates another strong political advertising year in fiscal 2019.
Accelerates Meredith’s digital position by adding significant scale – Meredith will be transformed into a Top 10 digital media company with 170 million unique monthly visitors in the U.S., over 10 billion annual video views, and nearly $700 million in digital advertising revenues. It will operate the No. 1 premium digital network for American consumers with unmatched reach to Millennials. Additionally, Meredith will be a top-tier data player with a database of more than 250 million email addresses/device IDs, paired with leading advertising technology platforms and shopper marketing capabilities.
Provides advertising and consumer revenue diversification and growth – Meredith will be well-positioned to benefit from fast-growing digital advertising platforms, including native, video, shopper marketing, programmatic and social. Also, Meredith expects to increase consumer revenue from diversified streams, including bundled circulation activities, brand licensing, ecommerce, events, video creation, content management, and marketing services.
Enhances financial strength and flexibility – Meredith expects the transaction will be accretive to free cash flow in the first full year of operations. Meredith has demonstrated a strong track record of achieving cost synergies with prior acquisitions, and is confident in its ability to optimize the cost structure of the combined business. The increased scale and free cash flow – coupled with cost synergy achievement – positions Meredith to aggressively pay down debt and achieve a leverage ratio of approximately 2x by 2020, and take advantage of future acquisition opportunities in the media space.
Increases Total Shareholder Return – Meredith remains committed to delivering top-third Total Shareholder Return. Meredith will continue to pay its current annual dividend of $2.08 per share, and expects ongoing annual dividend increases. Meredith has paid a dividend for 70 consecutive years and has increased it for 24 straight years.
“To summarize, we believe this acquisition represents a transformative and financially compelling growth opportunity for Meredith Corporation and will increase shareholder value over time,” Lacy said. “We are acquiring an impressive portfolio of leading brands and a digital business of scale with tremendous growth potential, complemented by our growing television broadcasting business that produces strong cash flow, fueled by growing political advertising and retransmission revenues. And the company will be led by Meredith’s executive management team with expertise in integrating acquisitions and operating multiplatform media businesses.”
Financing
Meredith has secured a total of $3.55 billion – which includes a $350 million undrawn revolving credit facility – in fully committed debt financing from RBC Capital Markets, Credit Suisse, Barclays and Citigroup Global Markets Inc. Meredith has also secured $650 million in preferred equity commitment from Koch Equity Development (KED). Funds will be used to finance the transaction and refinance existing debt.
KED has deployed in excess of $8 billion of industry agnostic principal investments over the last five years. Its $650 million investment in Meredith follows more than $2 billion of passive, preferred equity investments supporting four similar strategic transactions involving publicly traded entities.
KED will not have a seat on the Meredith Board and will have no influence on Meredith’s editorial or managerial operations. KED’s non-controlling, preferred equity investment underscores a strong belief in Meredith’s strength as a business operator, its strategies, and its ability to unlock significant value from the Time Inc. acquisition. Rothschild, Inc. and Credit Suisse are serving as financial advisors to KED and Jones Day is serving as legal counsel.
Timing and Approvals
Under the terms of the agreement, Meredith will commence a tender offer to acquire all the issued and outstanding shares of Time Inc. common stock for $18.50 per share in cash.
The transaction is subject to customary closing conditions and regulatory approvals, including the tender of a majority of the outstanding shares of Time Inc. common stock and clearance under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to close during the first quarter of calendar 2018.
Meredith Advisors
BDT & Company and Moelis & Company are serving as financial advisors to Meredith, and Cooley LLP is serving as legal counsel.
For more discussion of important risk factors that may materially affect Meredith, purchaser and Time Inc., please see the risk factors contained Meredith’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, and Time Inc.’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, both of which are on file with the SEC. Except as specifically noted, information on, or accessible from, any website to which this website contains a hyperlink is not incorporated by reference into this website and does not constitute a part of this website.
No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, what impact they will have on the results of operations, financial condition or cash flows of Meredith, purchaser or Time Inc. None of Meredith, purchaser or Time Inc. assumes any duty to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, as of any future date.
About Meredith Corporation
Meredith Corporation (NYSE: MDP; www.meredith.com) has been committed to service journalism for 115 years. Today, Meredith uses multiple distribution platforms – including broadcast television, print, digital, mobile and video – to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.
Meredith’s Local Media Group includes 17 television stations reaching more than 11 percent of U.S. households. Meredith’s portfolio is concentrated in large, fast-growing markets, with seven stations in the nation’s Top 25 – including Atlanta, Phoenix, St. Louis and Portland – and 13 in Top 50 markets. Meredith’s stations produce 700 hours of local news and entertainment content each week, and operate leading local digital destinations.
Meredith’s National Media Group reaches 110 million unduplicated women every month, including more than 70 percent of U.S. Millennial women. Meredith is the leader in creating and distributing content across platforms in key consumer interest areas such as food, home, parenting and lifestyle through well-known brands such as Better Homes & Gardens, Allrecipes, Parents and Shape. Meredith also features robust brand licensing activities, including more than 3,000 SKUs of branded products at 5,000 Walmart stores across the U.S. and at walmart.com. Meredith Xcelerated Marketing is an award-winning, strategic and creative agency that provides fully integrated marketing solutions for many of the world’s top brands.
Meredith’s balanced portfolio consistently generates substantial free cash flow, and the Company is committed to growing Total Shareholder Return through dividend payments, share repurchases and strategic business investments. Meredith’s current annualized dividend of $2.08 per share yields 3.4 percent. Meredith has paid a dividend for 70 straight years and increased it for 24 consecutive years.
DES MOINES, Iowa and SAN FRANCISCO, – Meredith Corporation (NYSE:MDP; www.meredith.com) – the leading media and marketing company reaching 175 million American consumers each month – including 80 percent of U.S. millennial women – announced today it has entered into a definitive agreement to sell the TIME media brand to Marc and Lynne Benioff for $190 million in cash. The transaction is subject to customary closing conditions and regulatory approval and is expected to close within 30 days.
The Benioffs are purchasing TIME personally and the transaction is unrelated to Salesforce.com, where Mr. Benioff is Chairman, co-CEO and founder. Mr. and Mrs. Benioff will not be involved in the day-to-day operations or journalistic decisions, which will continue to be led by TIME’s current executive leadership team.
TIME is a global, breaking news multimedia brand that reaches a combined audience of more than 100 million readers in print and online, including over 50 million digital visitors and 40 million social followers each month. An essential destination for reporting on the people, places and issues that matter, TIME captures the events that shape our lives through exceptional reporting, writing and photography. TIME’s major franchises include the TIME 100 Most Influential People, Person of the Year, Best Inventions, Genius Companies, World’s Greatest Places, and more.
“We’re pleased to have found such passionate buyers in Marc and Lynne Benioff for the TIME brand,” said Meredith President and CEO Tom Harty. “For over 90 years, TIME has been at the forefront of the most significant events and impactful stories that shape our global conversation. We know TIME will continue to succeed and is in good hands with the Benioffs. We thank the TIME team for its ongoing hard work and passionate commitment.”
Meredith acquired TIME as part of its purchase of Time Inc., which closed on January 31, 2018. Shortly thereafter, Meredith announced it was selling Time Inc.’s news and sports brands – TIME, Sports Illustrated, Fortune and MONEY – to focus on brands serving its core audience of American women. Meredith expects to announce agreements for the remaining asset sales in the near future.
“We are honored to be the caretakers of one of the world’s most important media companies and iconic brands,” said the Benioffs. “TIME has always been a trusted reflection of the state of the world, and reminds us that business is one of the greatest platforms for change.”
“On behalf of the entire TIME team, we are very excited to begin this next chapter in our history,” said TIME Editor-in-Chief Edward Felsenthal. “We can’t imagine better stewards for TIME than Marc and Lynne Benioff. The team is inspired by their commitment to high-quality journalism and by their confidence in the work we have done to transform and expand the brand in new directions.”
As part of the transaction, Meredith will provide short-term business continuity services and has entered into a multi-year agreement with the Benioffs to provide services such as consumer marketing, subscription fulfillment, paper purchasing and printing. Meredith will also be able to include the TIME brand in large corporate advertising buys.
Meredith plans to use proceeds from the transaction to pay down debt. Meredith expects to reduce its debt by $1 billion during fiscal 2019. Meredith is targeting a net debt-to-EBITDA ratio of 2.0x to 1 or better by the end of its fiscal 2020. This includes generating $1 billion of EBITDA and having net debt below $2 billion by the end of fiscal 2020.
Citigroup Global Markets Inc. served as financial advisor to Meredith and Cooley LLP served as legal advisor. BDT & Company served as financial advisor to the Benioffs and Goodwin Procter LLP served as legal advisor.
ABOUT MEREDITH CORPORATION
Meredith Corporation (NYSE: MDP; meredith.com) has been committed to service journalism for more than 115 years. Today, Meredith uses multiple distribution platforms – including broadcast television, print, digital, mobile and video – to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.
Meredith’s National Media Group reaches more than 175 million unduplicated American consumers every month, including over 80 percent of U.S. millennial women. Meredith is a leader in creating content across media platforms and life stages in key consumer interest areas such as entertainment, food, lifestyle, parenting and home. Meredith is the No. 1 magazine operator in the U.S., and owner of the largest premium content digital network for American consumers. Meredith’s leading national brands include PEOPLE, Better Homes & Gardens, InStyle, Allrecipes, REAL SIMPLE, Southern Living, EatingWell and Martha Stewart Living. Meredith also features robust brand licensing activities including more than 3,000 SKUs of branded products at 4,000 Walmart stores across the U.S. and at walmart.com. Meredith’s National Media Group also includes leading affinity marketer Synapse, and The Foundry, the company’s state-of-the-art creative lab and content studio.
Meredith’s Local Media Group includes 17 television stations reaching 11 percent of U.S. households. Meredith’s portfolio is concentrated in large, fast-growing markets, with seven stations in the nation’s Top 25 markets — including Atlanta, Phoenix, St. Louis and Portland — and 13 in the Top 50. Meredith’s stations produce more than 700 hours of local news and entertainment content each week, and operate leading local digital destinations. Meredith also owns MNI Targeted Media, which delivers targeted advertising solutions to more than 1,200 clients on a local, regional or national level.
Woodcliff Lake, NJ – MINI USA announced today they are expanding their Western Region Tier 2 media efforts with Crossmedia to include all Regional Tier 2 media starting in January 2019. The first campaign will launch in March.
The selection of Crossmedia follows the conclusion of a Regional Tier 2 Media agency review conducted by the MINI USA National and Regional Marketing teams with the support of The Burnett Collective that began in May. Crossmedia will manage Regional Tier 2 media across the four Regional teams to promote tactical offers in an efficient manner to the right audience and ultimately drive showroom traffic to help drive sales for local MINI dealers. The four finalists in the pitch included Affinitiv, Empower, Merkle and Crossmedia, with Crossmedia ultimately winning the business.
IPG Mediabrands’ UM will continue to be the national media agency for brand and product advertising. MINI USA advertising creative will continue to be provided by Pereira & O’Dell.
“We had some great agencies participate in the pitch for MINI’s Regional Tier 2 business and each brought different perspectives.” said Patrick McKenna, Department Head, MINI Brand Communications. “Crossmedia ended up on top based on their media targeting approach, team dynamic, and campaign performance.”
“They’ve come up with innovative media solutions to find the right audience for our products while localizing our tactical Tier 2 messaging.” McKenna continued. “We look forward to expanding the partnership with them in 2019 across all of our regional teams,”.
Participants in the decision also included two dealer representatives, Michael Vadasz from Otto’s MINI in Exton, PA and Regina Dahm from Motor City MINI in Detroit, MI, along with the MINI USA National and Regional Marketing teams.
About MINI in the US
MINI is an independent brand of the BMW Group. In the United States, MINI USA operates as a business unit of BMW of North America, LLC, located in Woodcliff Lake, New Jersey and includes the marketing and sales organizations for the MINI brand. The MINI USA sales organization is represented in the U.S. through a network of 128 MINI passenger car dealers in 39 states. MINI USA began selling vehicles in the U.S. in 2002 with the introduction of the MINI Cooper and MINI Cooper S Hardtops. Since then, the MINI Brand in the U.S. has grown to encompass a model range of five unique vehicles.
MTN wishes to clarify and place on record that the company continues to engage constructively with Nigerian authorities at all levels.
However, the company has noted, with concern, the speculation and false information in the media. MTN particularly cautions against reports purporting that the company has agreed a resolution with the NCC on the fine. It is false as no resolution has yet been reached. MTN continues to engage the authorities in Nigeria on this matter.
To this end, all stakeholders are reminded that MTN will inform them of any material developments in our engagements with Nigerian authorities via the Stock Exchange News Service of the JSE Limited (SENS). Shareholders have also been asked to exercise caution when reacting to information that has not been released by the company.
It is also important to note that MTN has operated in Nigeria for over a decade. In this time, and as in the other markets where we have a presence, MTN has conducted its business in accordance with established principles related to sound corporate governance.
As a company which owes its founding and growth to the emerging world, we are conscious of our responsibility to invest in the growth of local economies and development of communities wherever we operate. Nigeria is no different. Since launching more than a decade ago, we have made significant investments in connecting customers to our network. We take these responsibilities and obligations very seriously.
In conducting our business, MTN is always mindful that our growth has not only been due to the success of our commercial propositions. We therefore remain committed to maintaining solid partnerships with regulators, governments, communities and our markets, including in Nigeria, to build a sustainable industry that contributes to the growth of local economies.
MTN wishes to inform the market that MTN’s Chief Executive Officer, Mr Sifiso Dabengwa has resigned.
“Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the Company and its shareholders, have tendered my resignation with immediate effect,” stated Sifiso Dabengwa.
Nhleko, the current Non-executive Chairman has agreed to act as Executive Chairman for a maximum period of 6 months while the Company identifies a successor for Mr Dabengwa.
Nhleko is no stranger to the business as he served as Non-executive Director and Chairman of MTN from July 2001 until June 2002 and thereafter as an executive director, Group President and CEO until March 2011. He has subsequently chaired the Group in a Non-executive capacity for the past two and a half years (29 May 2013).
“I will assume responsibility as Executive Chairman for the next 6 months as I proactively deal with the Nigerian regulator and will continue to work with them in addressing the issues around unregistered subscribers as a matter of urgency,” commented Nhleko.
To ensure compliance with King III, Mr. Alan van Biljon will continue to serve as the Lead Independent Director on the MTN board of directors (“MTN Board”) whilst Mr. Nhleko takes over executive responsibility.
“Together with the MTN Board, my second priority will be to find an appropriate Chief Executive Officer to take MTN forward. I will then revert to my Non-executive Chairman role,” concluded Nhleko.
Stakeholders are reminded that MTN will continue to inform them of any material engagements with the Nigerian authorities via the Stock Exchange News Service of the JSE Limited (SENS).
Shareholders are advised to continue to exercise caution when dealing in the Company’s securities until a further announcement is made.
About the MTN Group
Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN.” As of 30 September 2015, MTN recorded 233 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. Visit us at, WWW.MTNBUSINESS.COM and WWW.MTN.COM
CBS Television Studios and the NAACP (National Association for the Advancement of Colored People) have reached an agreement on a multi-year partnership to develop and produce scripted, unscripted and documentary content for linear television networks and streaming platforms. The announcement was made today by George Cheeks, President and CEO of the CBS Entertainment Group, and Derrick Johnson, President and CEO of the NAACP.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005528/en/
As part of the agreement, CBS Television Studios’ creative leaders will work with the civil rights organization to establish a dedicated team of executives and infrastructure to acquire, develop and produce programming. The partnership will focus on producing premium content that expands the number of diverse voices contributing to an ever-evolving society, and by telling inclusive stories that increase the visibility and impact of Black artists in a growing media landscape.
The CBS/NAACP partnership includes a commitment to develop content for the CBS Television Network as well as the ability to sell programming to third-party platforms across the media landscape.
“An important way to diversify and grow our storytelling is to expand our horizons beyond the traditional studio-producer system,” said Cheeks. “There is no better partner than the NAACP – the preeminent civil rights organization in our country – to help us find, develop and tell these inclusive stories. “At the same time, this is a strategic opportunity for CBS to build upon as well as re-imagine our pipeline for existing and emerging creative talent.”
“In this moment of national awakening, the time has never been better to further tell stories of the African American experience,” said Johnson. “Programming and content have the power to shape perspectives and drive conversations around critical issues. This partnership with CBS allows us to bring compelling and important content to a broad audience.”
About CBS Television Studios:
CBS Television Studios is one of the industry’s leading suppliers of programming with more than 70 series currently in production across broadcast and cable networks, streaming services and other emerging platforms. The Studio’s expansive portfolio spans a diverse slate of commercially successful and critically acclaimed scripted programming, genre-defining franchises including the ever-growing “Star Trek” universe, award-winning late night and daytime talk shows, and an extensive library of iconic intellectual property.
About the NAACP:
Founded in 1909 in response to the ongoing violence against Black people around the country, the NAACP (National Association for the Advancement of Colored People) is the largest and most preeminent civil rights organization in the nation. We have over 2,200 units and branches across the nation, along with well over 2M activists. Our mission is to secure the political, educational, social and economic equality of rights in order to eliminate race-based discrimination and ensure the health and well-being of all persons.
NEW YORK, NY AND MCLEAN, VA – New Media Investment Group Inc. (“New Media”) (NYSE: NEWM) and Gannett Co., Inc. (“Gannett”) (NYSE: GCI) announced today that New Media and Gannett have entered into a definitive agreement (the “Merger Agreement”) pursuant to which New Media will acquire Gannett for a combination of cash and stock (the “Merger”).
Under the terms of the Merger Agreement, shareholders of Gannett will receive $6.25 in cash and 0.5427 of a New Media share for each Gannett share they hold, representing total consideration of $12.06 per Gannett common share based on New Media’s closing stock price as of August 2, 2019, and a premium of approximately 18% to the five-day volume-weighted average price of Gannett shares as of that date. After the close of the transaction, Gannett shareholders will hold approximately 49.5% of the combined company and New Media shareholders will hold approximately 50.5%.
The Merger brings together the portfolios of two leading local newspaper companies, and includes USA TODAY, Gannett’s flagship brand, and its more than 160 brands in the U.K., which will significantly expand the existing USA TODAY NETWORK. This combination will create a broad network of talented, experienced journalists poised to deliver unique and award-winning content for local communities and national audiences.
The breadth and depth of each company’s digital offerings will make the combined company a leading digital media player. Additionally, the joining of New Media’s UpCurve and GateHouse Live businesses with Gannett’s ReachLocal and WordStream subsidiaries will provide multiple, diversified marketing and revenue solutions and position the combined company as a stronger partner for advertisers and small businesses (“SMBs”) in the markets served.
With strategically-aligned leadership and significant scale of operations, the Merger will accelerate the combined company’s digital transformation. The Merger also affords an opportunity to realize run-rate cost synergies of $275 – $300 million annually across the combined company in a judicious manner, while continuing to invest in newsrooms.
“We believe this transaction will create value for our shareholders, greater opportunities for our employees, and a stronger future for journalism. Gannett is an innovative, digitally-focused media and marketing solutions company with well-known brands worldwide. Uniting our talented employees and complementary portfolios will enable us to expand our comprehensive, hyperlocal coverage for consumers, deepen our product offering for local businesses, and accelerate our shift from print-centric to dynamic multimedia operations. We are honored to become a part of Gannett’s storied history and a steward of their strong media properties into the future. We are committed to delivering significant synergies in a thoughtful manner, consistent with our shared goals for the business,” said Michael Reed, New Media Chairman and Chief Executive Officer.
“The Gannett Board unanimously determined that this combination with New Media is in the best interests of Gannett shareholders, customers, audiences, and employees, providing significant and immediate value, as well as the ability to benefit from the upside potential of the combined company,” said J. Jeffry Louis, Chairman of the Gannett Board of Directors. “We see numerous opportunities to leverage the combined company’s enhanced scale and financial strength to continue to drive growth in the digital future. Importantly, we have found in New Media a strong partner and cultural fit for Gannett as we continue delivering on a shared commitment to journalistic excellence for the communities we serve.”
The companies will co-host a call to discuss the transaction and second quarter earnings on August 5, 2019 at 4:15 p.m. Eastern Time. Please visit the Investor Relations section of either company’s website (www.newmediainv.com or www.gannett.com).
Compelling Strategic & Financial Benefits
Enhanced scale. New Media and Gannett share a strategic vision, and the combined company’s significantly enhanced scale of operations will enable it to realize this vision more rapidly, while generating value for shareholders and benefits for employees and other stakeholders. The Merger will create a leading local and national media company with 263 daily media organizations across 47 states and Guam and USA TODAY, reaching more than 145 million unique visitors every month, as measured by Comscore. This scale will meaningfully enhance the combined company’s financial profile by leveraging nationwide reach and local presence to expand and deepen relationships with consumers and businesses. As a result, we will accelerate the growth of the combined company’s digital revenue through innovative customer experiences and new marketing solutions for businesses, while creating an expansive journalism network with the resources required to deliver unique and award-winning content.
Accelerate digital strategy. New Media and Gannett believe that a digital transformation of the newspaper industry is vital to the preservation of journalism, and the Merger will accelerate the combined company’s digital transformation. The breadth and depth of each company’s digital offerings will make the combined company a leading digital media player and a stronger partner for advertisers and SMBs.
Significant synergies. New Media and Gannett share a commitment to rationalizing costs as the media industry evolves, while continuing to invest in product development, training for newsrooms and understanding readers’ needs. The Merger is anticipated to result in run-rate cost synergies across the combined company of $275 – $300 million annually, unlocking meaningful shareholder value. The majority of synergies is expected to be realized within 24 months of closing and result from the increased scale of the new organization, sharing of best practices, leveraging existing infrastructure, facility rationalization and other judicious cost reductions.
External Management Agreement. New Media and FIG LLC, an affiliate of Fortress Investment Group (the “Manager”), have amended the external management agreement to set the termination date as December 31, 2021. The amendment, as described in more detail below, also reduces the incentive fee rate payable to the Manager for the remainder of the term.
Leadership and Governance
The combined company’s management team will be led by New Media’s current Chairman and Chief Executive Officer, Michael Reed. Alison Engel, Gannett’s current Chief Financial Officer, is expected to serve as the Chief Financial Officer of the combined organization upon closing. Gannett’s newly appointed Chief Executive Officer, Paul Bascobert, will become Chief Executive Officer of the combined company’s operating subsidiary. The rest of the combined company’s senior executive team, which is expected to be composed of highly experienced leaders from both companies, will be announced at a later date.
Mr. Bascobert was the President of XO Group from 2016 until its sale to Permira Equity in 2019. During his tenure, he helped lead the company’s transformation from a media company to a marketplace business. Prior to XO, Mr. Bascobert led sales, service, and marketing for the Local Businesses segment at Yodle from 2014 until 2016. Before that, he spent four years at Bloomberg LP as President of Bloomberg Businessweek from 2010 until 2014, in addition to serving as Chief Operating Officer of the Media Group from 2011 to 2014. Mr. Bascobert joined Bloomberg from Dow Jones & Co. where he was Senior Vice President of Operations from 2006 until 2007 and Chief Marketing Officer from 2007 until 2009.
The combined company’s Board of Directors will have nine members, including Mr. Reed as Chairman, five independent directors from New Media, and three independent directors from Gannett. Mr. Kevin Sheehan, who currently serves as New Media’s Lead Director, will serve as the combined company’s Lead Director.
New Media has been actively engaged in a director search and expects to announce two additional independent directors prior to closing. The companies believe that diversity can strengthen board performance and New Media is actively searching for women and other candidates with diverse backgrounds and experiences.
After the closing of the Merger, both New Media and its operating subsidiary GateHouse, will be rebranded and operate under the “Gannett” brand. The combined company will be headquartered in McLean, Va., with a continued corporate presence in existing locations.
Financing
New Media expects to fund the cash portion of the Merger consideration through a combination of cash on the balance sheet and a new term loan facility (the “Term Loan”) to be funded at closing pursuant to a binding commitment from funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO), a global alternative investment manager with approximately $312 billion in assets under management, as of June 30, 2019, and deep experience in supporting media companies. The Term Loan, which will be used to retire existing financial debt obligations of both companies and to fund the cash component of merger consideration, will be a five-year senior secured term loan facility in an aggregate principal amount of $1.792 billion. The Term Loan will be freely pre-payable without penalty, and the combined company is expected to have a strong cash-flow profile that will permit aggressive deleveraging. Total pro forma leverage at closing of the Merger is expected to be approximately 3.5x LTM As Adjusted EBITDA, before run-rate synergies, and 2.3x including run-rate synergies. Target net leverage within two years of closing is expected to be below 1.75x.
Dividend
Initially, the combined company is expected to have an annual dividend of $0.76 per share. It is expected that the dividend will be increased over time as synergies are realized and leverage is reduced.
External Management Agreement
Concurrent with the entry into the Merger Agreement, New Media and the Manager have agreed to amend the Management and Advisory Agreement dated as of March 6, 2015 (such amendment, the “Amended Management Agreement”), pursuant to which the Manager provides a management team (including the Chief Executive Officer) and other professionals who provide services to New Media.
The Amended Management Agreement, which will become effective upon the closing of the Merger, provides for the following key changes:
1. Establishes a termination date of December 31, 2021, for the Manager’s services in lieu of annual renewals of the term;
2. Reduces the incentive fee rate from 25% to 17.5% for the remainder of the term;
3. Reduces by 50% the number of options that would otherwise be issuable in connection with the issuance of shares as consideration for the Merger, and imposes a premium on the exercise price;
4. Eliminates the Manager’s right to receive options in connection with future equity raises; and
5. Eliminates certain payments otherwise due at or after the end of the term.
In exchange, New Media will issue to the Manager upon closing approximately 4.2 million shares of New Media common stock. The Manager is restricted from selling these shares until the expiration of the Amended Management Agreement, or otherwise upon a change in control and certain other extraordinary events. New Media will also grant the Manager approximately 3.2 million options with an exercise price of $15.50, a 45% premium to the closing price of New Media common stock on August 2, 2019. These options become exercisable upon the first trading day immediately following the first 20 consecutive trading day period in which the closing price of New Media’s common stock (on its principal U.S. national securities exchange) is at or above $20 per share, and also upon a change in control and certain other extraordinary events.
Upon expiration of the term of the Amended Management Agreement, the Manager will cease providing external management services to New Media, and the Manager will no longer be the employer of the person serving in the role of Chief Executive Officer of the combined company (the “Internalization”).
Timing and Approvals
New Media formed the Transaction Committee to review, evaluate, and negotiate the Merger and the Internalization (including the terms of the Amended Management Agreement). The Merger has been unanimously approved by the New Media Transaction Committee and by the Boards of both companies. The New Media Transaction Committee separately, and unanimously, approved the Amended Management Agreement.
The Merger is expected to close by the end of 2019, subject to the satisfaction of customary closing conditions, including receipt of regulatory clearances and approval by the shareholders of each company.
Advisors
Credit Suisse is serving as financial advisor to New Media, and Cravath, Swaine & Moore LLP is serving as principal legal counsel. New Media’s Transaction Committee retained Jefferies LLC as its independent financial advisor, and Wilson Sonsini Goodrich & Rosati as its legal counsel.
Greenhill & Co., LLC and Goldman Sachs & Co. LLC are serving as financial advisors to Gannett, and Skadden, Arps, Slate, Meagher & Flom LLP and Nixon Peabody LLP are serving as legal counsel.
About New Media
New Media Investment Group Inc. (NYSE: NEWM) supports small to mid-size communities by providing locally-focused print and digital content to its consumers and premier marketing and technology solutions to small and medium business partners. New Media is one of the largest publishers of locally based print and online media in the United States as measured by its 154 daily publications. As of June 30, 2019, New Media operates in over 600 markets across 39 states reaching over 21 million people on a weekly basis and serves over 200,000 business customers. For more information regarding New Media and to be added to its email distribution list, please visit www.newmediainv.com.
About Gannett
Gannett Co., Inc. (NYSE: GCI) is an innovative, digitally focused media and marketing solutions company committed to strengthening communities across its network. With an unmatched local-to-national reach, Gannett touches the lives of more than 125 million people monthly with its Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. Gannett brands include USA TODAY NETWORK with the iconic USA TODAY and more than 100 local media brands, digital marketing services companies ReachLocal, WordStream and SweetIQ, and U.K. media company Newsquest. To connect with Gannett, visit www.gannett.com.
Connection Point is a new series designed to connect editors and freelance contributors. Are you an editor looking to hire quality writers, designers, and other professionals? Contact the Freelance Committee for information about a free listing.
CurrentThis off-site link opens in new tab or window. is a B2B publication that serves the public media industry. While most readers are people who work at public radio and television stations, networks and production companies, media watchers and others interested in public media make up a small but important part of the audience. Articles help public news professionals get information and context on what’s happening in the industry, and gather ideas and insights to make their institutions stronger.
Current is both print and online. It publishes six issues a year on a roughly bimonthly basis. The website is another destination for articles; many are original and don’t make it into the newspaper. The publication also maintains a job board and an online business directory. Mike Janssen, Current’s digital editor, provides some information on what the publication is seeking and how to successfully pitch.
What types of articles are you looking for?
We have a more complete list in our online writers’ guidelinesThis off-site link opens in new tab or window., but here are a few examples:
Trends and developments in radio, TV and digital publishing/distribution technologies and how public media is responding or is being affected.
Profiles of people working in public media who have achieved notable goals for stations or networks.
Features about new radio shows, TV shows and podcasts in local and national public media, and coverage of how long-running programs are adapting to new platforms and audience expectations.
Developments in public media programming, fundraising, station ownership and federal policy that influence or inform the work of public media professionals.
Coverage of how public media stations, networks and producers are responding to the widespread push for racial justice by seeking greater diversity, equity and inclusion in their workplaces and among their audiences.
What is the typical length for articles?
We’re open to a range of lengths. It just depends on the topic. It’s pretty rare, however, that we publish pieces that exceed 1,500 to 2,000 words.
What is your typical rate? Do you provide a kill fee?
We pay 75 cents/word. We do provide kill fees, but as negotiated into contracts that we usually issue before working with a freelancer for the second time. A first-time freelancer who wants a kill fee would need to mention that up front.
Do you work with freelance designers, artists, multimedia storytellers or other professionals besides writers? How do you work with them?
Lately we have started using more freelancer artwork for theme packages in our print edition and online. We welcome seeing anyone’s portfolio for consideration. As for multimedia, we have produced podcasts (though none currently) and commissioned videos. Though we haven’t been doing much lately with audio and video, we’re open to pitches.
What level of expertise in your field do contributors need to have?
Some. Our readers expect more details and context in coverage of public media than what they can find at other publications. They also expect reporting that takes them behind the scenes to explore developments that affect their work. Writers need to have some knowledge of the issues and thinking in public media, and access to people who can give true insights.
How can writers craft a pitch that will really impress you?
It’s definitely a plus if a pitch reflects an understanding of what public broadcasting is. We get a fair number of pitches from freelancers who propose media stories completely unrelated to public media.
Read some of the articles on our site before you pitch so you’re familiar with what we cover. People who sign up can view two articles for free, or we can grant temporary access behind our paywall. After that, review the pitch guidelines on our websiteThis off-site link opens in new tab or window. for more information about what we’re seeking.
News Corp and Telstra today announced the completion of the transaction to combine Foxtel and FOX SPORTS Australia. The commercial arrangements are unchanged from those announced on March 5, 2018.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
News Corp and Telstra today announced they have signed definitive agreements to combine Foxtel and FOX SPORTS Australia, which will deliver premium and innovative content to Australians with ever greater quality, variety and efficiency.
The key commercial arrangements include:
News Corp will have 65 per cent shareholding in the combined entity and Telstra will have 35 per cent.
News Corp will appoint four directors (including the Chairman) to the combined entity’s board and the senior executives, and Telstra will appoint two directors.
News Corp will consolidate the combined entity into its financial statements
The combined company will provide Australian viewers with the best possible experiences by:
Putting greater emphasis on live streaming products and an expanded library, including Australian written, produced and directed programming;
Delivering new and creative products and packages across devices and platforms, with investment in exclusive content and technology, including a focus on high quality FOX SPORTS Australia productions;
Expanding distribution channels for Foxtel and FOX SPORTS Australia products, along with developing greater operating efficiencies across the combined businesses; and
Levering the benefits of the assets and experience of News Corp in Australia and around the world.
News Corp Chief Executive Robert Thomson said: “The launch of the combined company will mark the dawn of a new era for our Australian business, and Foxtel and FOX SPORTS Australia will together be a formidable force. We will be able to use our powerful media platforms to promote the unique sports and entertainment assets in the two companies, and improve services for consumers and advertisers. Patrick Delany and his talented team will be absolutely focused on serving viewers compelling, contemporary Australian content and superlative sports coverage on personalized platforms.” Mr Delany will be Chief Executive Officer of the combined company.
Telstra CEO Andy Penn said the combination of Foxtel and FOX SPORTS Australia with their content assets would position the company to strongly compete in the dynamic media market, and it would continue to be an important part of Telstra’s media strategy.
“Our customers are streaming more and more sport and entertainment on their TV at home and on their mobile devices while on the move. Telstra will be the exclusive telco sales agent for the combined entity on mobile and IP products and we will continue with our broadcast reseller arrangements,” Mr Penn said.
News Corp Australasia Executive Chairman Michael Miller said: “Under the leadership of Patrick Delany, this company will provide the exclusive and quality content that Australian consumers demand and expect. It will broadcast and stream in the most exciting, innovative and engaging ways across all platforms.”
The transaction is expected to close during the fourth quarter of Fiscal Year 2018.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
New York, NY — News Corp announced today that Dow Jones set new performance records in the third quarter of fiscal 2020, meeting a growing global need for fact-based reporting and high quality data and analysis.
“These Dow Jones numbers are vastly superior to those announced by The New York Times yesterday. Digital advertising increased by 25% at Dow Jones, while it fell during the same quarter by 8% at The New York Times. And while year-on-year profitability declined double digits at the NYT, it rose at Dow Jones, and was a key contributor to our News and Information segment’s 15% increase. Revenue growth at Dow Jones in the quarter, at 5%, also outpaced the NYT’s 1% increase,” said Robert Thomson, Chief Executive of News Corp. “The relative success of The Wall Street Journal shows the value to readers of trusted news analysis, of pithy, pertinent opinion writers, and of reporters who have the objective of being objective. The WSJ subscriber base and the MarketWatch audience are patently a platform for further growth, as the team has been able to upsell readers to Barron’s and to professional information products that are essential for business and higher yielding.”
News Corp’s announcement follows the naming of Almar Latour as the new Chief Executive Officer of Dow Jones and Publisher of The Wall Street Journal. Mr. Latour, who is currently Publisher for Barron’s Group at Dow Jones, will assume the role with the departure of William Lewis on May 15.
In the third quarter, Dow Jones set a new record of nearly 3.6 million total subscriptions across The Wall Street Journal and Barron’s Group, representing a 10% increase year-over-year, including a 20% increase in digital only growth.
As part of the company’s third quarter earnings report, News Corp also noted that The Wall Street Journal’s digital paid subscribers were up 15% year-over-year to more than two million, another record. Digital subscribers accounted for 73% of the Journal subscriber base for the third quarter.
In recent days, the Journal has reached approximately 3 million total subscribers for the first time, including 2.2 million digital only, which represents over 20% growth year-over-year.
According to internal metrics, unique visitors to The Wall Street Journal were up 74% year-over-year, while Barron’s saw a 163% jump in March alone. MarketWatch’s unique visitors also rose exponentially, tripling to 90 million in March compared to March, 2019.
While information and reporting on the virus helped drive high subscriber counts and traffic, advertising revenue overall was impacted in late March, though digital advertising across Dow Jones rose 25% year-over-year for the third quarter, and accounted for 47% of Dow Jones’ total ad revenues in the quarter. By comparison, The New York Times digital advertising revenues fell approximately 8% in the quarter.
Overall, Dow Jones revenues increased 5% in the third quarter, and above The New York Times at 1%. Dow Jones, including its growing Professional Information Business, remains significantly more digital than The New York Times, with digital representing 68% of revenues in the third quarter. Dow Jones profitability improved in the quarter, compared to decline at The New York Times, and was a major factor in News Corp’s News and Information Services segment EBITDA growth of 15% year over year.
News Corp also highlighted the continued double-digit revenue growth of Dow Jones Risk & Compliance, which grew 18% over the third quarter, as organizations ramp up to manage regulatory and reputational risk on a global scale.
Risk & Compliance is on track to approach approximately $160 million in revenues this fiscal year. It is the main contributor to the growth of Dow Jones’s professional information business, which also includes Factiva and Dow Jones Newswires.
For more information about News Corp’s Q3 Earnings, click here.
About News Corp
News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The company comprises businesses across a range of media, including: news and information services, subscription video services in Australia, book publishing and digital real estate services. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at: http://www.newscorp.com.
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest newsgathering operations globally. It produces leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Factiva, Barron’s, MarketWatch, Mansion Global, Financial News, Dow Jones Risk & Compliance and Dow Jones Newswires. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV)
New York – News Corp announced today that it has completed its acquisition of Harlequin Enterprises from Torstar Corporation, bolstering and extending the global platform and digital presence of its HarperCollins Publishers subsidiary.
As previously announced, Harlequin will operate as a division of HarperCollins and remains headquartered in Toronto, as do the offices of HarperCollins Canada.
“We are pleased to formally welcome Harlequin and its employees to the new News,” said Robert Thomson, Chief Executive of News Corp. “The addition of such an iconic brand with a loyal audience, robust global expertise and digital depth is a proud and purposeful moment for our company. Onward to the next chapter.”
Added Brian Murray, Chief Executive Officer of HarperCollins Publishers, “We are happy to welcome Harlequin staff and authors into the HarperCollins family and excited to work together to expand the breadth of our publishing activities into more than 30 languages.”
As one of the world’s leading publishers of women’s fiction, Harlequin boasts a rich heritage with a devoted following and a business that will contribute to the digital and international expansion of HarperCollins to the benefit of both readers and authors. Harlequin titles are issued worldwide in 33 languages and sold in more than 100 international markets. It has offices in 17 countries.
The purchase price for the acquisition was C$455 million in cash, subject to certain adjustments, and the transaction was completed following approval by regulatory authorities and shareholders of Torstar.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, cable network programming in Australia, digital real estate services, book publishing, digital education, and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: www.newscorp.com.
New York, NY – News Corp announced today that its subsidiary Move Inc., operator of realtor.com®, has successfully completed its acquisition of Opcity, the market-leading real estate technology platform that matches qualified home buyers and sellers with real estate professionals in real time.
The acquisition broadens realtor.com®’s lead generation product portfolio to include Opcity’s concierge-based model. With its broker-centric model, Opcity has grown its U.S. client base to over 5,000 brokerages and more than 40,000 agents since 2015.
“Real estate is an increasingly significant part of the News Corp portfolio, and the acquisition of Opcity deepens our engagement with agents and homebuyers alike,” said Robert Thomson, Chief Executive of News Corp.
“Realtor.com® and Opcity share a consumer-first philosophy that is focused on keeping real estate professionals at the center of the transaction,” said Ryan O’Hara, CEO of Move, Inc. “Our combination will enable us to more effectively bring buyers, sellers and agents together, improving the consumer experience and providing our industry partners with more opportunities to connect with clients and grow their businesses.”
Opcity, with headquarters in Austin, Texas, will continue to operate under its current brand. The acquisition purchase price is $210 million, subject to adjustments.
Digital real estate services is News Corp’s fastest growing segment. Move, Inc. has nearly doubled its revenues since News Corp’s acquisition in 2014 to $452 million in fiscal 2018. News Corp, the most global digital property company, also owns 61.6 percent of REA Group Limited, the operator of the leading Australian residential property website, realestate.com.au.
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About News Corp
News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and subscription video services in Australia. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content is distributed and consumed worldwide. More information is available at: http://www.newscorp.com.
About Move, Inc.
Move, Inc. provides access to unsurpassed real estate information, tools and professional expertise across a family of websites and mobile experiences for consumers and real estate professionals through all stages of the home journey. It has a perpetual license to operate realtor.com® from the National Association of REALTORS®.
The Move network includes realtor.com®, The Home of Home Search℠, as well as Doorsteps®, Moving.com™ and SeniorHousingNet℠. Realtor.com® pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Move also offers a complete solution of software products and services to help real estate professionals serve their clients and grow their business in a digital world, including ListHub™, the nation’s leading listings syndicator and centralized intelligence platform for the real estate industry; Top Producer® Systems; FiveStreet℠ and Reesio as well as many free services. For more information, visit realtor.com®.
About Opcity Inc.
Based in Austin, Texas, Opcity is modernizing the real estate industry by matching top real estate professionals with transaction-ready home buyers and sellers in real-time. Using proprietary data sets and applied analytics, Opcity’s unique technology and matching algorithm turn online inquiries into transactions, drive increases in conversion, and provide real estate professionals with centralized insights to effectively manage their pipelines. Opcity’s growth has been fueled by investment from Silicon Valley-based Icon Ventures, with participation from artificial intelligence-focused Georgian Partners, and Texas-based LiveOak Venture Partners. For more information, visit http://www.Opcity.com.
New York, NY (December 5, 2017) – News Corp announced today the launch of News IQ, a new advertising platform with an audience of over 140 million in the United States. This marks the first time that News Corp has integrated all of its collective first-party data, premium media properties and data science tools into one unified advertising solution. News IQ will give brands a new way of reaching News Corp’s sophisticated audiences in a safe, trusted environment to achieve precise and measurable results.
At launch, News IQ is working with a premier and diverse group of partners, including Douglas Elliman, Seabourn Cruise Line, Fox Broadcasting Company (FOX), and the Dentsu Aegis Network, among others. News IQ will leverage the first-party data of some of the launch partners, including a top luxury retailer in collaboration with Mastercard Ad Intelligence to create bespoke marketing and advertising solutions.
“In a world of fake news and fraudulent metrics, News IQ offers advertisers a clear solution: quality audience, quality data, and quality environments,” said Jesse Angelo, News Corp’s Chief of Digital Advertising Solutions. “And that translates into three layers of brand safety for every campaign, protection from fraud, and the ability to effectively reach premium audiences at scale with precision inside a trusted and transparent ecosystem.”
News Corp’s premium properties have a rich history of informing, inspiring, entertaining and helping people in every life stage through a suite of trusted brands, including The Wall Street Journal, Barron’s, realtor.com®, MarketWatch, New York Post and HarperCollins Publishers, among others. News IQ will unlock exclusive, first-party data to offer new insights on a large scale from an audience comprised of top business leaders, entrepreneurs, in-market home buyers, high-net-worth individuals, luxury shoppers, millennial cord-cutters and more. News IQ will also be able to combine advertisers’ first-party data with News Corp data to help build bespoke segments.
“Brands are becoming more sophisticated about digital advertising. They are tired of their ads showing up next to vile and vacuous content, and fed up with mad and manipulated metrics,” said Robert Thomson, Chief Executive of News Corp. “Now, we are offering News Corp’s suite of superior brands to advertisers, along with a wealth of reliable – not risible – data that will help them target the customers they cherish.”
“What distinguishes News IQ from various competitors is our ability to leverage News Corp’s global resources to pair its world class custom content solutions with both consumer insights and scalable audiences in one end-to-end solution,” said Mr. Angelo. “This isn’t about blasting consumers with ads they don’t care about but intelligently engaging consumers and driving real results for our partners.”
“We are excited to partner with News IQ as their approach to brand safety, transparency and audience building is very much aligned with our core values,” said Art Muldoon, Co-CEO Amnet US, the programmatic expert agency of Dentsu Aegis Network. “This is a platform that will not only simplify the supply chain, but offer greater precision and scale in a trusted environment, which advertisers expect.”
News IQ will complement the video ad platform and emotional targeting capabilities of News Corp’s Unruly in order to provide an even broader suite of solutions to advertisers.
About News IQ
News IQ is a precision audience targeting platform powered by News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV). News IQ gives advertisers access to an audience across a suite of News Corp businesses, including Dow Jones, NY Post, Move Inc., HarperCollins Publishers, Storyful and News America Marketing. News IQ leverages News Corp’s proprietary data, custom content studios, social listening technologies and premium brand-safe media inventory to help its partners achieve their marketing goals. For more information, please email: advertising@newsiq.net.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
New York, NY – News Corporation (“News Corp” or the “Company”) (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2017.
Commenting on the results, Chief Executive Robert Thomson said:
“The robust first half results highlight the virtue of our strategy to become increasingly digital and global, the discipline of our financial management, and our commitment to premium content and high-quality, high-integrity news. First half revenues were up 4% and profitability improved by 27%, including strong results in the second quarter.
Our digital real estate services businesses continue to thrive, with flourishing audiences, strong lead volume, and product enhancements benefiting both consumers and agents. This quarter, the segment posted 21% revenue growth and an increase of 25% in Segment EBITDA.
Clearly there are profound changes taking place in the creation and distribution of digital content. The big tech disruptors are in the midst of a particularly disruptive period, commercially, socially and politically. We appreciate that Google has ended the prejudicial First Click Free and that Facebook is prioritizing provenance, but these are modest steps toward changing a digital environment that is dysfunctional at its core. The bot-infested badlands are hardly a safe space for advertisers, whose brands are being tainted by association with the extreme, the violent and the repulsive.
It is certainly in the interests of our shareholders that there be a reorientation towards quality and integrity, and that readers and platforms are encouraged to pay for professional journalism. Our mastheads are recording digital subscriber and audience growth, with digital accounting for 60 per cent of WSJ subscribers, while The Sun has now exceeded 90 million global monthly average uniques in the second quarter. But the potential returns for our journalism would be far higher in a less chaotic, less debased digital environment.”
Second Quarter Results
The Company reported fiscal 2018 second quarter total revenues of $2.18 billion, a 3% increase compared to $2.12 billion in the prior year period, reflecting continued strong growth in the Digital Real Estate Services segment, a $47 million positive impact from foreign currency fluctuations and the acquisitions of Australian Regional Media (“ARM”) and Australian News Channel Pty Ltd (“ANC”). Growth was partially offset by lower News America Marketing and print advertising revenues at the News and Information Services segment. Adjusted Revenues (which exclude the foreign currency impact and acquisitions and divestitures as defined in Note 1) decreased 1%.
Net loss for the quarter was ($66) million, an improvement of 70%, as compared to ($219) million in the prior year. The improvement was primarily due to the absence of a pre-tax non-cash impairment charge related to fixed-assets of $310 million and a $227 million pre-tax non-cash write-down of the Foxtel investment in the prior year period. The improvement was partially offset by higher tax expense, which reflects the $174 million provisional charge resulting from the U.S. Tax Cuts and Jobs Act (refer to “Other items – U.S. Tax Reform”).
The Company reported second quarter Total Segment EBITDA of $329 million, a 1% increase compared to $325 million in the prior year, driven by continued growth in the Digital Real Estate Services segment, partially offset by the increase in sports rights costs at the Cable Network Programming segment as a result of the timing of programming amortization. Adjusted Total Segment EBITDA (as defined in Note 1) was flat.
Loss per share available to News Corporation stockholders was ($0.14) as compared to ($0.50) in the prior year.
Adjusted EPS (as defined in Note 3) were $0.24 compared to $0.19 in the prior year.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
New York – News Corp announced today an agreement to sell its Community Newspaper Group (CNG) to Les and Jennifer Goodstein.
CNG, headquartered in Brooklyn, is a network of 11 community newspapers and web sites, including Caribbean Life, The Brooklyn Paper, The Bronx Times Reporter, Bay News and Bay Ridge Courier, Bayside Times and TimesLedger. CNG also publishes specialty magazines, including Family magazines, the Wedding Guide and Sweet Sixteen Magazine. CNG distributes over 235,000 newspapers each week in Brooklyn, Queens, The Bronx and Manhattan.
“This sale, like our divestiture of the Dow Jones Local Media Group, helps us reshape the News Corp portfolio as we achieve greater globalization and digitization of our businesses with an eye towards long-term growth,” said Robert Thomson, Chief Executive of News Corp. “We’re confident that these newspapers and magazines will prosper under the leadership of Les and Jennifer Goodstein.”
“Besides my love of newspapers, it was an honor to complete this transaction with News Corp. I look forward to the continued success of the Community Newspaper Group,” said Les Goodstein. “Both my wife and I are members of the community and are pleased to continue serving the readers of Manhattan, Brooklyn, Queens and the Bronx. We plan to expand local coverage with local news important to the neighborhoods we serve.”
The Goodsteins also own NYC CommunityMedia, publisher of The Villager, Downtown Express, Gay City News, East Villager News and Chelsea Now. Les Goodstein is a former News Corp executive who ran CNG between 2006 and 2013.
News Corp sold the Dow Jones Local Media Group, which operated 33 publications, to an affiliate of Fortress Investment Group LLC last September.
Financial terms of the agreement, which is expected to close next week, were not disclosed. News Corp launched its CNG business in 2006.
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About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, cable network programming in Australia, digital real estate services, book publishing, digital education, and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: www.newscorp.com.
New York, NY – News Corp announced that News Corp Chief Executive Robert Thomson will participate in the UBS 45th Annual Global Media and Communications Conference on Tuesday, December 5, 2017, to be held in New York, NY. The session will begin at 2:00 p.m. EST.
To listen to a live webcast, please visit the News Corp website at https://newscorp.com/investor-relations-2/presentations/. A replay of the webcast is expected to be available at the same location for a period of time following the conference.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
New York, NY – News websites help drive sales for brands and create value for advertisers through quality journalism, according to a new Nielsen study commissioned by News Corp.
The 2018 Nielsen Media Lab survey and white paper highlights the power of news websites to positively impact consumer behavior and brand perception. Key findings include:
News sites drive a significantly higher increase in both purchase intent and recommendation than other publishing categories such as sports, travel, food, and entertainment.
News content helps increase positive brand perception and brand affinity.
Negative or political news content is no more likely to adversely impact consumer attitude towards a brand than any other publisher category.
“Authenticity and actuality are precious qualities in an age of the artificial and the asinine. It is important that advertisers have adjacencies to reporting of the utmost integrity and verified veracity, and not have the brands tarnished by exposure in unsafe spaces and polluted places. Gilt by association is far preferable to guilt by association,” said Robert Thomson, Chief Executive of News Corp. “This significant survey underscores the lasting power of news to engage, inform and enhance.”
“There is a common misconception among marketers that news is bad for brands, but as this survey shows: that’s simply not true,” said Jesse Angelo, News Corp’s Chief of Advertising Solutions and CEO of the New York Post. “News has always been and continues to be an effective place to advertise because of its ability to inform and engage its audience.”
For some marketers, today’s political climate or catastrophes can make the news space seem perilous to navigate. However, millions of consumers see tremendous value in staying informed and actively engage with news every day. The Nielsen data shows that this value to consumers drives what marketers seek most—positive connections that ultimately lead to sales.
Nielsen gathered and analyzed data from nearly 6,000 real consumers, resulting in new, evidence-based insights into how news, compared to other publisher categories, performs for brands. The survey, which was commissioned by News Corp’s advertising solution NewsIQ, found that while brands experienced an increase in purchase intent across all publisher categories, news content was a clear leader in this metric with a 44% increase — significantly ranking above all other content categories.
The survey also showed that respondents were 42% more likely to recommend a brand to a friend when viewing content on news publisher sites, nearly 10% percent higher than the combined average of the other publisher sites.
In measuring brand affinity, business (39%) and news sites (38%) were category leaders – likewise in driving positive brand perception. In fact, even negative news content was no more likely to adversely impact consumer’s brand perception than any other publisher category.
“We’re excited to work with News Corp to explore how the consumer experience is being influenced amidst this dynamic media environment and to help uncover data and insights that help brands connect and resonate with people through their news and media consumption,” said Peter Bradbury, Managing Director of National Client Solutions at Nielsen.
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About the 2018 Nielsen Media Lab Survey
Nielsen Media Lab fielded a survey of 5,833 respondents ages 18 to 64 using a methodology designed to replicate the experience of reading a website article. The goal of the study was to test how a consumer’s brand perception and how their purchasing behavior might be affected by the publication category in which their ad runs. Respondents selected from seven publisher categories – business, news, fashion/beauty, travel, entertainment, and viewed – to view content from both category leaders and smaller websites.
To replicate the diversity of content that falls under the news category, articles that were determined under preset parameters to be positive, negative or neutral content, were served to the respondents. Additionally, five different product and service categories – CPG, auto, finance, retail and tech – were tested against the content to ensure that the findings were generally applicable to the marketing industry as a whole.
To get the report, please email: cgillard@newscorp.com.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
About NewsIQ
NewsIQ is a precision audience targeting platform powered by News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV). NewsIQ gives advertisers access to an audience across a suite of News Corp businesses, including Dow Jones, NY Post, Move Inc., HarperCollins Publishers, Storyful, and News America Marketing. NewsIQ leverages News Corp’s proprietary data, custom content studios, social listening technologies and premium brand-safe media inventory to help its partners achieve their marketing goals. For more information, please visit: http://newsiq.net.
NEW YORK – Nickelodeon today at its annual upfront presentation formalized its robust roster of consumer insights, partnership marketing and multi-media services under the banner of Nickelodeon Inside Out Solutions. An offering that connects partners to the full scope of Nickelodeon’s unrivaled intellectual properties and 10-screen ecosystem, Nickelodeon Inside Out Solutions offers branded entertainment and intellectual property alignment opportunities across the network’s media platforms, social footprint, consumer products business and on-the-ground marketing experiences.
“Nickelodeon Inside Out Solutions signals our commitment to collaborative partnerships,” said Pam Kaufman, Chief Marketing Officer and President of Consumer Products, Nickelodeon. “We’re opening our doors to clients so that we may work better together to leverage the full power of the Nickelodeon ecosystem, with all of the possibilities for building and marketing our partners’ messages now in one place.”
Nickelodeon Inside Out Solutions offers advertising partners the opportunity for in-depth collaboration with expertise drawn from all quarters of the Nickelodeon organization. Partners can access the network’s proprietary insights, full-service marketing and creative resources and multi-platform media destinations to create branded experiences that are authentic to Nickelodeon’s kids and family audience.
Throughout the year, the network will roll out additional offerings through Nickelodeon Inside Out Solutions, inclusive of a new way for partners to leverage Nick’s robust social footprint for appropriate audiences and new measurement capabilities, which will inform partners of the reach, influence and engagement of their social programs. Details will be available this spring.
Nickelodeon, now in its 35th year, is the number-one entertainment brand for kids. It has built a diverse, global business by putting kids first in everything it does. The company includes television programming and production in the United States and around the world, plus consumer products, online, recreation, books and feature films. Nickelodeon’s U.S. television network is seen in almost 100 million households and has been the number-one-rated basic cable network for 20 consecutive years. For more information or artwork, visit www.nickpress.com. Nickelodeon and all related titles, characters and logos are trademarks of Viacom Inc. (NASDAQ: VIA, VIAB).
In a comment submitted to the Federal Communications Commission, the directors of the Federal Trade Commission’s Bureau of Consumer Protection, Bureau of Economics, and Office of Policy Planning write that, in their view, no legal barriers or policy considerations prevent common carriers from offering consumers technology that allows them to block unwanted calls.
The comment, which was filed in response to a FCC public notice seeking input on call-blocking, states that “consumers continue to be plagued with unwanted telemarketing calls, which in many cases violate the law.” The comment describes the FTC’s extensive law enforcement efforts to protect consumers from illegal telemarketing calls, but notes that vigorous law enforcement alone cannot solve the problem.
Law violators are now using the Internet to place large numbers of illegal telemarketing calls, inexpensively, often from overseas, and in a manner that allows them to hide from law enforcement. To combat this problem, a technological solution is needed, and “call-blocking technology – i.e., a ‘spam filter’ for the phone – is an integral part of that technological solution.”
“The widespread availability of call-blocking technology to consumers will make a significant dent in the problem of unwanted telephone calls,” the comment states, but despite the strong consumer interest in such technology, “to date [common] carriers have resisted offering call-blocking services to their large customer bases.”
The carriers claim that the FCC legal framework does not allow phone companies to block calls, even if their customer requests call-blocking. According to the FTC’s comment, however, numerous authorities recognize a carrier’s ability to block telephone calls at a consumers’ request.
Concluding the comment, the FTC writes that, “An affirmative statement from the FCC that common carriers can offer call-blocking services to their consumers without violating their common carriage obligations would be in the best interest of American consumers.
The Commission vote approving the comment was 5-0. (The staff contact is Bikram Bandy, Bureau of Consumer Protection, 202-326-2978)
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.
NEW YORK, July 6, 2023 — Omnicom (NYSE: OMC) today announced the acquisition of Grabarz & Partner to further cement its leadership position in Germany, the fourth largest advertising market in the world.
Founded in 1993, Grabarz & Partner is a world-class creative agency headquartered in Hamburg. With more than 260 employees, the agency works with prominent global and local clients such as Deutsche Bahn, IKEA, Lidl and Porsche. It has been named to prestigious industry lists such as Cannes Lions’ “Top Ten Independent Agencies of the Decade” and Campaign UK‘s “The World’s Leading Independent Agencies”. Grabarz & Partner’s management team will continue to serve in their current roles following the closing of the transaction.
“We’re thrilled to add one of the most creative agencies in Germany to our roster and to lean into its stellar reputation in one of Europe’s most important economic regions for our clients,” said John Wren, Chairman and CEO of Omnicom. “Our shared vision for creative excellence is what drew us to them, and we look forward to the impact they’ll make as part of Omnicom. We welcome the entire Grabarz & Partner team to the group.”
“Throughout our 30 years of existence, we’ve received many offers for our agency. Omnicom was the first one that truly piqued our interest as they presented us a tailor-made plan that took into account our goals and vision, our strategy as a creative agency, and, above all, our unique culture formed by the last three decades,” said Ralf Heuel, co-founder and managing partner at Grabarz & Partner. “We are convinced this will be another successful chapter for Grabarz & Partner, one in which all our clients and employees will benefit.”
The transaction is expected to close during the third quarter of 2023, subject to customary closing conditions, including regulatory approval.
About Grabarz & Partner
Founded in 1993, G&P is a world-class creative agency headquartered in Hamburg. With more than 260 employees, the agency works with prominent global and local clients such as Deutsche Bahn, IKEA, Lidl and Porsche. It has been named to prestigious industry lists such as Cannes Lions’ “Top Ten Independent Agencies of the Decade”, “Top Ten Independent Agencies of the Decade” by Horizont magazine, “Agency of the Year” by W&V magazine, Eurobest, and Clio awards, “Managers of the Year” by Horizont magazine and Campaign UK’s “The World’s Leading Independent Agencies”.
About Omnicom
Omnicom (www.omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms offer services in advertising, strategic media planning and buying, precision marketing, commerce and brand consulting, experiential, customer relationship marketing (CRM), public relations, healthcare marketing and other specialty communications services to over 5,000 clients in more than 70 countries.
NEW YORK, June 15, 2015— Omnicom Group (NYSE:OMC) draws from a deep bench of creative, data, and media talent, from around the globe, to deliver thought-provoking content on the big and small stage at this year’s 62nd Cannes Lions International Festival of Creativity, June 21 through June 27. As part of its worldwide commitment to diversity in the workplace, the company is especially proud to have 22 Omniwomen serving as jurors.
From PR to branding to advertising to media, Omnicom agencies will lead discussions on such important industry topics as the intersection of creativity and technology, data, talent, collaboration, gaming and product innovation, as well as teach Master Classes, present award-winning campaigns, and sponsor the next generation of talent, specifically with DDB’s Keith Reinhard’s participation in the Young Marketers Academy and Ketchum sponsoring the Young Lions Marketing Competition.
Below are some of the highlights:
Omnicom
• Omnicom’s agencies in partnership with Omnicom Media Group are hosting a series of thought-leadership panel and keynote sessions at the Carlton’s Salon la Cote, June 23-25, featuring “A-listers,” innovators and influencers from the worlds of advertising, media, technology, entertainment, music and sports. Resolution and FleishmanHillard will be showcasing StoryConnect, a data-driven, socially enabled content and advertising center.
• Jonathan Nelson, CEO, Omnicom Digital, will participate in a video innovation panel in partnership with Beet TV.
BBDO
• BBDO is hosting a discussion on the keys to successful global campaigns, “Have Idea, Will Travel,” featuring CMO’s from Diageo and Visa
• Luiz Sanches, CCO and Partner, AlmapBBDO leads a MasterClass, “Why idea is the real innovation”
• Gregory Roekens, CTO, AMV BBDO, discusses “What Will Happen When Brand Becomes AI and Customer Becomes Robot”
DDB
• Amir Kassaei, Chief Creative Officer of DDB Worldwide leads “Do This or Die.”
• DDB Worldwide’s “Keith Reinhard Meets the Backpacker Intern”
• As part of Warc, DDB NY’s CEO, Chris Brown will explore the 2014 and 2015 Creative Effectiveness award winners, as well as Rich Guest, President, Tribal will participate in the debate, “Programmatic and Advertising Context: Is there a Conflict.”
• Interbrand, Microsoft & Team Gleason to host a creative brainstorm called “The ALS Smackdown” at The Microsoft Lounge.
DAS
• Jeff Goodby and Rich Silverstein of Goodby Silverstein & Partners present, “What if They Never Die?”
• LatinWorks’ “Latin: The Hottest New Brand?”
• Ketchum Sounds’ panel session “The Art of the Deal: Live!” features music artist Natalie Imbruglia and panelists from Ketchum Sounds, Pernod Ricard and Brand Synergy Group as they negotiate a music marketing deal live on stage.
• Flamingo and Ketchum present “Whatever You Do – Don’t Call Them Grey (or Silver)” with speakers from Ketchum, Flamingo, IMC/VibrantNation and Red Cliff Marketing.
• Tetsuya Honda, managing director of BlueCurrent Japan – FleishmanHillard specialty brand – will lead the session “Opening the Kimono on Killer Japanese Creativity”
Omnicom Media Group
• OMD’s Oasis will feature a thought provoking line up of technology and media visionaries, clients and agency leads, all sharing insights and opinions on topics that are defining and disrupting the modern media landscape.
• PHD is the official Cannes Lions app partner and brings delegates ‘See & Connect’ – personalized recommendations based on your profile.
• PHD’s “Sentience: The Coming AI Revolution” with inventor of the World Wide Web, Sir Tim Berners-Lee, was a winner of Lions Live Public Vote
TBWA
• TBWA Worldwide will kick off Saturday with “25 Years of Disruption: Conversation with Today’s Disruptive Marketers,” on the main Debussy stage. The session was named a winner of the Lions Live Public Vote and will be live-streamed.
• TBWA will host “A Method to the Madness” as part of the Lions Innovation Festival.
• 180 Amsterdam presents “How to Rebuild a Creative Culture.”
For the full schedule of seminars and events throughout the week:
https://www.canneslions.com/cannes_lions/programme/festival_programme/#festival-1/
About Omnicom Group Inc.
Omnicom Group Inc. (NYSE: OMC) is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.
NEW YORK,– TBWA Worldwide today announced the acquisition of an advertising agency in Brazil, Mood. TBWA, an Omnicom Group Inc. (NYSE: OMC) advertising network, will take a majority share in Mood, headed by Augusto Cruz Neto.
With the conclusion of the deal, Cruz will retain a significant minority share in the company and will continue in the role of president for Mood. The agency will keep its original name, clients and team. “I was courted by many international groups, but I chose a partnership with Omnicom and TBWA because it is a group which respects entrepreneurship and creativity, and also because of my relationship with Luiz Lara, who has always respected our total independence to work,” Augusto Cruz Neto said.
The acquisition comes at one of the best times for the agency, which finished 2013 with a 25% growth rate over the previous period. In the first two months of 2014, Mood also announced it had won business from restaurant chain Giraffas, the sandwich franchise Tostex and the American portable electrical appliances brand Oster.
James Fenton, CFO of TBWA Americas, commented “Mood is an agency I’ve admired since first being introduced to them several years ago, and I’m excited that they are now part of the TBWA Network. They are an impressive agency with an outstanding creative team and expertise in a broad range of disciplines, taking a truly integrated approach. We see this as a strategic move to continue expanding the capabilities of the TBWA Brazil Group in the fast-moving Brazilian market. Mood’s culture of innovation and depth of talent will strengthen our business capabilities, not only in Brazil, but around the TBWA Worldwide network.”
Augusto Cruz Neto highlights that taking on a new partner was inevitable in order for Mood to keep growing. “We realized that we needed to partner with a great network to enable us to keep evolving at this pace,” he states. “TBWA’s proposal recognized the philosophy of an agency based on integrated communications, what we call the ‘3D Concept.’ Therefore the proposal recognized not only Mood’s economic value, but also — and most importantly — the brand’s potential for the future,” he added.
In the market for seven years, Mood is a success case among young agencies in a sector dominated by international groups responsible for a major part of the advertising budget. The company, at first conceived to carry out promotions, activations and events, has proven effective by betting on its multidisciplinary aptitude to gain market share. Driven by contributing to the business success of its clients, Mood’s scope of work includes advertising, digital, direct marketing and design. Mood has 85 employees in its Sao Paulo and Rio de Janeiro offices.
About TBWA Worldwide
TBWA Worldwide (www.tbwa.com) is a top ten ranked global advertising network that holds DISRUPTION® at its core to develop business-changing ideas for the brands it works with. The TBWA network includes AUDITOIRE, Digital Arts Network (DAN), E-Graphics, The Integer Group® and TBWAMedia Arts Lab, as well as independent and local TBWA agencies, with 307 offices in 99 countries and over 11,110 employees worldwide. TBWA’s global clients include Accenture, adidas, Apple, Energizer, Four Seasons, GSK, Henkel, Infiniti, McDonald’s, Michelin, Nissan, Pernod Ricard, Pfizer, Roche, Standard Chartered Bank and Singapore Airlines.
About Omnicom Group Inc.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com), a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.
This news is courtesy of www.omnicomgroup.com
BERLIN and NEW YORK, — TBWA Worldwide, an Omnicom Group (NYSE: OMC) advertising network, today announced its acquisition of Germany’s Agency of the Year and leading independent advertising agency Heimat. TBWA will take a majority share in Heimat, headed by founding partners Matthias von Bechtolsheim, Guido Heffels and Andreas Mengele. Heimat CEO and co-founder Matthias von Bechtolsheim will act as Chairman of the newly formed TBWA Operating Group Germany, which combines the leaders of TBWA’s German specialist agencies.
Perry Valkenburg, President Europe and International COO at TBWA, commented, “Heimat and TBWA are a natural match and create a unique offer for the fourth largest advertising market worldwide. Combining Heimat’s creative and entrepreneurial spirit with TBWA’s global strength is the perfect offer for the German market.”
Heimat CEO, Matthias von Bechtolsheim, said, “We have had conversations with many international groups, but the partnership with Omnicom and TBWA is based on a mutual respect for entrepreneurship and creativity between ourselves and the managers we collaborated with on this deal. Our commitment and passion for our clients and their brands has led to many fruitful relationships with our national and international clients over the last 15 years. We will continue to work with that same dedication, together.”
The acquisition comes at one of the best times for the agency, which grew in 2013 by 40% over the previous year. Founded in 1999, Heimat is the perceived market leader in Germany, known for its creative and strategic product as well as its long-term relationships with national and international brands. Currently Heimat employs over 230 people in Berlin and Hamburg.
With the conclusion of the deal, Heimat’s founders will retain a significant minority share in the company and will remain in their leadership roles. The agency will keep its original name. In an advertising market dominated by strong independent agencies, this new partnership allows TBWA to offer all benefits of independent agencies in a scalable and efficient global network.
The TBWA Group Germany offers fully integrated advertising services including the leading brand activation specialist, DO IT!, the market leader for business-to-business communications, RTS Rieger Team, The Disruption Consultancy a business strategy company, TBWA Worldhealth and shopper marketing partner, The Integer Group.
About Heimat
Heimat (www.heimat-berlin.com) is the leading German advertising agency. It was the most successful agency in the German 2014 ADC Awards winning 27 medals including 5 gold and one Grand Prix. It was named “Agency of the Year 2013” by Werben & Verkaufen, “Independent Agency of the Year” at Eurobest 2013 and “Best in Show” at the Advertising Effectiveness Awards 2014. Heimat is part of the TBWA Group Germany.
Founded in 1999 and managed by founding partners Matthias von Bechtolsheim, Guido Heffels, Andreas Mengele, the agency became known for its campaigns for Hornbach, Adidas, CNN, Swisscom, Rewe, Otto, German cooperative bank Volksbanken Raiffeisenbanken and Weight Watchers. Heimat has offices in Berlin and Hamburg and employs over 230 people.
About TBWA Worldwide
TBWA Worldwide (www.tbwa.com) is a top ten ranked global advertising network that holds DISRUPTION® at its core to develop business-changing ideas for the brands it works with. TBWA has 11,100 employees across 323 offices in 97 countries and also includes brands such as Auditoire, BEING, Digital Arts Network (DAN), eg+ Worldwide, The Integer Group® , TBWA\Media Arts Lab and TBWA\WorldHealth. TBWA’s global clients include Accenture, adidas, Apple, Energizer, Four Seasons, Gatorade, GSK, Henkel, Infiniti, Kraft, McDonald’s, Michelin, Nissan, Pernod Ricard, Pfizer, Standard Chartered Bank, Singapore Airlines, Vichy.
About Omnicom Group Inc.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.
For more news on the TBWA network, please visit http://tbwa.com/news-and-press/
London and New York, – TBWA Worldwide, an advertising agency collective and an Omnicom Group (NYSE: OMC) company, today announced the acquisition of a majority stake in leading independent UK creative agency Lucky Generals.
Lucky Generals’ founders, Helen Calcraft, Andy Nairn and Danny Brooke-Taylor, will remain in their existing roles at Lucky Generals and will retain a significant minority share in the company.
TBWA will form a new TBWA UK Group, which will consist of Lucky Generals and TBWA\London, upon the acquisition of Lucky Generals. Lucky Generals and TBWA\London will continue to operate as two separate brands within the new group. The structure exemplifies TBWA’s unique approach to developing a global advertising collective of connected, yet distinct, agencies. It has parallels with the group’s approach in Germany, where TBWA and HEIMAT successfully operate a similar two-pronged strategy.
Troy Ruhanen, President and CEO of TBWA Worldwide said, “Lucky Generals’ vision, a creative company for people on a mission, is completely aligned with our own: a radically open creative collective. They are relentlessly creative and innovative, with a focus on disruptive work, platforms and businesses. What Helen, Andy, Danny and their teams have built in a short period of time is remarkable. I cannot think of a better addition to the family.”
Helen Calcraft, founding partner of Lucky Generals, added “We have been fortunate enough to have had conversations with many international groups, but Omnicom and TBWA Worldwide were the only ones to understand our desire for autonomy — perhaps because entrepreneurialism, disruption and creativity are hardwired into their DNA. We already feel like we’ve established a great personal connection with the team. This deal will allow us to preserve our unique culture, build our brand and grow. Most important, with the support of Omnicom and TBWA, we will be able to better deliver on our clients’ needs in the UK and around the globe. We’re delighted to join such an entrepreneurial group and keep doing all the things we love, on a bigger scale, with some new friends.”
The acquisition comes as Lucky Generals has experienced a period of substantial growth over the last two years. Founded in 2013, Lucky Generals has been shortlisted for Campaign’s Agency of the Year for the last two years. It was also named Marketing’s “New Thinking Agency of the Year” and The Drum’s “Ballsiest Agency of the Year.” Its clients include Amazon, Paddy Power Betfair, Hostelworld and Unilever.
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About TBWA Worldwide
TBWA is The Disruption® Company: the cultural engine for 21st century business. We use trademarked Disruption®methodologies to create a unique space in culture for our clients’ brands. We are a top 10 global advertising agency collective with 11,300 employees across 305 offices in 98 countries. TBWA brands include Auditoire, Digital Arts Network (DAN), eg+ worldwide, The Integer Group®, TBWA\Media Arts Lab and TBWA\WorldHealth. Global clients include adidas, Airbnb, Apple, Gatorade, Henkel, McDonald’s, Michelin, Nissan, Pernod Ricard, Merck, Standard Chartered Bank, Singapore Airlines and Vichy.
About Omnicom Group Inc.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.
NEW YORK—Mar. 4, 2021– Paramount+, the highly anticipated streaming service from ViacomCBS, launched today with an unparalleled content offering that bundles live sports, breaking news, and an expansive collection of exclusive new originals, hit series, marquee franchises and popular movies. Featuring more than 30,000 episodes and countless films from ViacomCBS’ family of world-renowned brands and production studios, including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and the Smithsonian Channel, Paramount+ is home to premium entertainment for the whole family.
“The launch of Paramount+, which builds on our legacy of innovation and superior storytelling, is a significant milestone for ViacomCBS that demonstrates our commitment to being a global leader in streaming,” said Tom Ryan, President and Chief Executive Officer, ViacomCBS Streaming. “By combining fresh original content with live and on-demand programming and an established library of titles from world-class entertainment brands, we have created an unrivaled service that offers live sports, breaking news and entertainment for all audiences.”
Premiering today with the launch of the service is a slate of new originals, including The SpongeBob Movie: Sponge on the Run, the first-ever all CGI SpongeBob motion picture event; Kamp Koral: SpongeBob’s Under Years, a prequel series and the first-ever spinoff of SpongeBob SquarePants; MTV Documentary Films 76 Days, the Oscar Shortlisted documentary that looks at life in the earliest days of the COVID-19 crisis in Wuhan, China; For Heaven’s Sake, a docuseries blending comedy and crime for a unique take on uncovering the truth; The Real World Homecoming: New York, a reunion special with the original New York cast in the iconic NYC loft; 60 Minutes+, a new form of the flagship series that reveals the stories behind the news through original reporting and captivating interviews; and Stephen Colbert Presents Tooning out the News, the second season of the animated daily news satire series.
These titles join a growing slate of originals currently on the service exclusively, including The Good Fight, Why Women Kill, The Stand, Star Trek: Lower Decks, No Activity, Coyote and more.
Coming this Spring to Paramount+ is an extensive lineup of live sports including every UEFA Champions League and UEFA Europa League match, culminating with the UEFA Champions League Final on May 29; coverage of the 2021 NCAA Division I Men’s Basketball Championship, featuring all of CBS’s games throughout the tournament highlighted by the National Championship game and Final Four with first-round coverage beginning on March 19; and CBS Sports’ coverage of The Masters.
The Paramount+ slate will also continue to expand with 36 exclusive originals coming to the service in 2021, including the following titles that will debut this spring: Rugrats, an all-new series featuring Nick’s iconic babies, back together with the original voice cast and an all-new CG animation style; No Activity, a half-hour police comedy that will transition from live action to animated for season four; and Behind the Music, the groundbreaking and prolific music documentary series returns with several new episodes and the best of the vault remastered. Beginning late spring, the Paramount+ film library will grow to over 2,500 titles including recent hits from Paramount Pictures, such as Bumblebee, Crawl, Dora and the Lost City of Gold, Gemini Man, Like a Boss, Pet Sematary, Playing with Fire, Rocketman and Sonic the Hedgehog, as well as popular movies from MGM, such as Bill & Ted Face the Music, Skyfall, The Addams Family, Child’s Play and Valley Girl.
The reimagined service, built on the strong foundation of CBS All Access, features live linear programming, plus a deep and growing content portfolio that spans the best in scripted dramas, kids and family, sports, news, documentaries, comedy, music and reality. Starting today, subscribers can stream:
How to Stream
Paramount+ has two pricing tiers available to U.S. subscribers that marry the best of live and on-demand programming. The premium tier, at $9.99, is available now and combines live sports, including NFL games, soccer and more; breaking news through CBSN; CBS’ live linear feed; and commercial free, on-demand entertainment options spanning Paramount+ originals to the full suite of current and library shows and movies with 4K, HDR and Dolby Vision and mobile downloads. In June, Paramount+ will introduce a new ad-supported tier, at $4.99, that offers live NFL games, news and entertainment, but no longer includes local live CBS station programming. A $5.99 ad-supported tier, which includes live CBS programming, is available until June at which point only the $4.99 and $9.99 tiers will be offered to new subscribers.
All Paramount+ subscribers will have access to a seamless user interface, enhanced curation and discovery, cross-platform dynamic play functionality, personalized homepages, content categories and central hubs for ViacomCBS’ brands. Additionally, each subscription option will include parental control capabilities and up to 6 individual profiles.
Consumers can subscribe to Paramount+ online at ParamountPlus.com; via the Paramount+ app for iOS and Android; and across a wide number of platforms, including smart TVs, connected-TV devices, online, mobile, gaming consoles, and leading OTT providers. Paramount+ will also be distributed on major platforms in local markets internationally. The new Paramount+ app will begin rolling out across platforms today. For more details on Paramount+, please visit ParamountPlus.com.
International Rollout
ViacomCBS will bring Paramount+ to international markets with initial debuts in 18 Latin American countries and Canada today; the Nordics on March 25, 2021; and Australia with a rebrand and expansion of 10 All Access later this year.
With production capabilities across five continents, strong distribution agreements and local relationships and expertise around the world, Paramount+ will leverage ViacomCBS’ leading global reach — including the largest global broadcast footprint — to drive streaming growth and international expansion. ViacomCBS Networks International (VCNI) will build on its momentum in prized formats, and as one of the top global producers of Spanish-language content, to bring exclusive series to market for fans of kids and family, scripted dramas, reality and more. Subscription prices will vary by market, but Paramount+ will be available to international audiences at a compelling price point.
* Click HERE for art
Paramount+
Paramount+, a direct-to-consumer digital subscription video on-demand and live streaming service from ViacomCBS, combines live sports, breaking news, and a mountain of entertainment. The premium streaming service features an expansive library of original series, hit shows and popular movies across every genre from world-renowned brands and production studios, including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and the Smithsonian Channel. The service is also the streaming home to unmatched sports programming, including every CBS Sports event, from golf to football to basketball and more, plus exclusive streaming rights for major sports properties, including some of the world’s biggest and most popular soccer leagues. Paramount+ also enables subscribers to stream local CBS stations live across the U.S. in addition to the ability to stream ViacomCBS Streaming’s other live channels: CBSN for 24/7 news, CBS Sports HQ for sports news and analysis, and ET Live for entertainment coverage.
For more information about Paramount+, please visit www.paramountplus.com and follow @ParamountPlus on social platforms.
About ViacomCBS:
ViacomCBS (NASDAQ: VIAC; VIACA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others. The company delivers the largest share of the U.S. television audience and boasts one of the industry’s most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions for partners on five continents.
WASHINGTON – Today, the U.S. Energy Department, the Natural Resources Defense Council (NRDC), the American Council for an Energy-Efficient Economy (ACEEE), the Appliance Standards Awareness Project (ASAP), the Consumer Electronics Association (CEA)® and the National Cable & Telecommunications Association (NCTA) announced non-regulatory energy efficiency standards for pay-TV set-top boxes that will result in significant energy savings for more than 90 million U.S. homes. These new standards – developed through a non-regulatory agreement between the pay-TV industry, the consumer electronics industry and energy efficiency advocates – will improve set-top box efficiency by 10 to 45 percent (depending on box type) by 2017, and are expected to save more than $1 billion on consumer energy bills annually.
The set-top box efficiency standards announced today will ultimately save enough electricity each year to power 700,000 homes. The standards will also avoid more than five million metric tons of carbon dioxide emissions each year. As consumer demand for digital video recorders and high-definition set-top boxes grows, actual consumer savings are likely to be even greater. The introduction of whole-home devices will also further reduce the overall energy footprint.
“These energy efficiency standards reflect a collaborative approach among the Energy Department, the pay-TV industry and energy efficiency groups – building on more than three decades of common-sense efficiency standards that are saving American families and businesses hundreds of billions of dollars,” said Energy Secretary Ernest Moniz. “The set-top box efficiency standards will save families money by saving energy, while delivering high quality appliances for consumers that keep pace with technological innovation.”
Senator Dianne Feinstein (D-Calif.) said: “In 2011, I urged the CEOs of every major television service provider to work together to introduce more energy efficient set-top boxes. At the time, set-top boxes were costing Americans $3 billion in electricity charges each year—with $2 billion wasted when televisions were not being used. Today’s voluntary announcement demonstrates the television industry took this matter seriously, and I commend industry and efficiency advocates for agreeing to make 90 percent of all set-top boxes as efficient as today’s most energy efficient boxes by 2017. This will cut box energy consumption by 10-45 percent and save consumers $1 billion per year. To put that in perspective, this amount of energy savings would eliminate the need for three power plants and prevent 5 million tons of C02 emissions per year. This is a big win for nearly every American who pays a monthly television bill because experts tell me that federal standards could not have produced this much financial and energy savings by 2017. This agreement lasts until 2017, and I intend to monitor the situation carefully to ensure the industry remains committed to building on today’s substantial progress in future years.”
“This historic agreement promises to put $1 billion back in the pockets of U.S. consumers every year because the new set-top boxes will use less energy,” according to Noah Horowitz, Senior Scientist at the NRDC. “We appreciate the industry’s renewed commitment toward making the devices that bring pay TV into 90 million-plus U.S. homes more efficient and look forward to working together to reduce their future energy use.”
A set-top box is a device combining hardware components with software programming to receive television and related services from cable, satellite, broadband or local networks. The non-regulatory agreement provides a framework for the Energy Department, pay-TV industry and energy efficiency advocates to work together on efficient, high-performing set-top boxes that keep pace with technological improvements, achieving what would otherwise be done through regulatory standards and test procedures.
“As Americans increasingly rely on more electronic devices and gadgets, managing energy consumption is both an environmental and economic priority for consumers and industry alike,” said Michael Powell, President and CEO of NCTA. “The cable industry is working hard to improve the overall consumer experience and we are proud to develop solutions that will reduce our energy footprint and result in real energy savings for millions of consumers.”
“The set-top box is an integral part of the broad, diverse, and often-changing entertainment experience in most American households,” said Gary Shapiro, President and CEO of CEA. “The expanded voluntary set-top box energy conservation agreement accommodates both rapid evolution and energy efficiency for this product category and demonstrates our industry’s commitment in leading the way to provide consumers with products that reduce energy consumption and save money.”
The agreement, which runs through 2017, covers all types of set-top boxes from pay-TV providers, including cable, satellite and telephone companies. The agreement also requires the pay-TV industry to publicly report model-specific set-top box energy use and requires an annual audit of service providers by an independent auditor to ensure boxes are performing at the efficiency levels specified in the agreement. The Energy Department also retains its authority to test set-top boxes under the ENERGY STAR ® verification program, which provides another verification tool to measure the efficiency of set-top boxes.
Agreement signatories include pay-TV providers (listed according to number of customers) Comcast, DIRECTV, DISH Network, Time Warner Cable, AT&T, Verizon, Cox Communications, Charter Communications, Cablevision Systems Corp., Bright House Networks and CenturyLink; and manufacturers Cisco, ARRIS (including Motorola), and EchoStar Technologies. Energy efficiency advocates Natural Resources Defense Council (NRDC), the American Council for an Energy-Efficient Economy (ACEEE), and the Appliance Standards Awareness Project (ASAP) are also signatories to the agreement.
This non-regulatory agreement between the pay-TV industry and energy efficiency advocates supports the Energy Department’s broader efforts to help families save money by increasing the energy efficiency of residential and commercial appliances and products. Under the Obama Administration, the Department has finalized new efficiency standards for more than 30 household and commercial products, which are estimated to save consumers a total of more than $400 billion through 2030.
To build on this progress, the Administration has set a new goal: Efficiency standards for appliances and federal buildings set in the first and second terms combined will reduce carbon pollution by at least three billion metric tons cumulatively by 2030 – equivalent to nearly one-half of the carbon pollution from the entire U.S. energy sector for one year.
This Press Release is courtesy of US Department of Energy www.energy.gov
New York, NY – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) and Polaris Project today announced a new campaign designed to shine a spotlight on the serious issue of human trafficking. Human trafficking is modern-day slavery where profits are derived from the organized control and exploitation of women, children and men for various purposes including labor and sex acts. Launching today on strategically located billboards in New York and New Jersey, the campaign educates the public on the true scale and diverse victims of human trafficking under the banner “Traffic Report.”
The “Traffic Report” campaign launched today in New Jersey and New York in order to reach the local public and the more than 500,000 football fans descending on the region for the biggest football game of the year. This campaign builds on Clear Channel Outdoor’s broader efforts to highlight the issue of human trafficking with Polaris Project and other partners in a variety of markets since 2012, including Baltimore, Houston, Las Vegas, Los Angeles, Oakland, Philadelphia, Phoenix and Seattle.
“Human trafficking is a multi-billion dollar business that impacts all of us at the community and national levels and demands greater public awareness and action to help victims,” said Suzanne Grimes, president and chief operating officer, Clear Channel Outdoor – North America. “Polaris Project’s data on the size and scope of the human trafficking industry is sobering, and we felt compelled to use our power to connect to people to develop a strong campaign that would help draw attention to the issue in the biggest way possible — both to affect change and to send a ray of hope to those who are being exploited.”
“Despite the enormity of the problem, most people don’t even realize that human trafficking is happening in their own back yards, and those being exploited are largely unaware that help is available,” said Bradley Myles, CEO of Polaris Project. “This form of modern slavery occurs at large sporting events, in suburban brothels, and in farms and factories across America. We want people to understand that sex and labor trafficking is a huge problem across the country that demands our attention and resources – 365 days a year.”
Over the next two weeks, the campaign will make more than 11 million impressions via 26 strategically located digital billboards in New Jersey and New York. In Manhattan, the campaign will run at marquee locations including the Port Authority (625 8th Avenue, between 41st and 42nd Streets), Penn Plaza (425/427 7th Avenue, between 33rd and 34th Streets), and Times Square (1560 Broadway, between 46th and 47th Streets). Additionally, 23 Clear Channel Outdoor digital billboards along the I-95 corridor in New Jersey and Westchester County, New York will run the campaign which will raise the visibility of the issue and engage the public to learn more at www.polarisproject.org/365days.
“I applaud Polaris Project and Clear Channel Outdoor for this tremendous campaign to bring national attention to the atrocities of human trafficking that remain so hidden from our society,” said New York City Council Member Laurie A. Cumbo, who represents District 35 in Brooklyn and chairs the Committee on Women’s Issues for the City Council. “It’s unacceptable that in today’s world, human trafficking still exists. It is my hope that this campaign will inform victims of trafficking that there is real help available while simultaneously encouraging others to work collaboratively to end this form of modern day slavery.”
This Press Release is courtesy of www.clearchannel.com
INDIANAPOLIS—CONNECTIONS –Salesforce.com (NYSE: CRM), the world’s #1 CRM platform (http://www.salesforce.com/), and Omnicom Group (NYSE: OMC), a leading global advertising and marketing communications services company, today announced the first ever CRM alliance to create an integrated customer journey platform. The partnership will help Omnicom’s agencies create highly personalized communications that connect the dots between marketing, sales, communities and customer service, allowing its clients to create dynamic, end-to-end customer journeys.
Powered by the world’s #1 CRM, the platform will leverage data from numerous sources to deliver optimized content to audiences on every channel and every device, and across paid and owned media. By partnering with Salesforce, Omnicom will be able to help its clients drive higher levels of brand engagement and loyalty.
Annalect, Omnicom’s data, technology and analytics arm, will manage the new offering. The cloud, mobile and API-first platform can be easily customized for specific agencies and clients, and will be made available to all Omnicom agencies across marketing disciplines and geographies.
Comments on News
“Salesforce.com and Omnicom will empower companies to connect to their customers in entirely new ways,” said Marc Benioff, chairman and CEO, salesforce.com. “By utilizing Salesforce as its customer journey platform for clients, Omnicom will strengthen its role as a trusted advisor to the world’s largest brands, creating amazing customer journeys that extend far beyond traditional digital marketing.”
“In this always-on, always-connected world, marketers face more complexity than ever before,” says Jonathan Nelson, CEO, Omnicom Digital. “By bringing together Omnicom with Salesforce, the world’s leading CRM, in a way that has never been done before, we will be able to span every consumer-touch point, both online and offline, which is a real first-mover advantage for our clients.
Omnicom and Salesforce.com Partner to Deliver First Customer Journey Platform Across Omnicom’s Global Agency Networks
The new customer journey platform will allow Omnicom agencies to deliver a seamless experience for their clients across every customer touchpoint. Now, Omnicom agencies will be able to:
Deliver a complete view of the customer journey —Salesforce.com provides a powerful technology solution that will help Omnicom agencies effectively manage billions of customer interactions on behalf of its clients across digital marketing, sales and customer service. This will enable Omnicom agencies to more efficiently service top global accounts across different agencies and geographies, and be able to leverage and integrate first-party data from their clients’ deployments of Salesforce within Annalect’s data management platform to deliver more relevant communications.
Manage 1:1 customer journeys and engagement across any channel —Omnicom will also leverage ExactTarget Marketing Cloud’s best-in-class content and automation capabilities in email, mobile, social, advertising, web personalization, connected devices, wearables and apps. The partnership expands on Omnicom Media Group’s existing partnership with Social.com, ExactTarget Marketing Cloud’s advertising platform.
Deliver next-generation marketing analytics —Leveraging data from Salesforce, Omnicom Group will be able to integrate sales and customer service touchpoints into its existing solutions, providing a comprehensive view of the customer. This will enable Annalect to deliver the next-generation data management platform, linking offline and online customer engagement and providing “last mile” analytics for clients.
Build innovative connected apps —Omnicom’s creative network will be able to build and manage the kind of engaging, connected apps today’s consumers expect using Heroku, part of the Salesforce1 Platform. Agencies will be able to leverage salesforce.com’s next-generation platform to build and deploy apps for brands that drive customer engagement and loyalty.
The partnership was announced today by salesforce.com Chairman and CEO Marc Benioff and Omnicom Digital CEO Jonathan Nelson at Connections, the digital marketing event of the year.
Omnicom (www.omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries. Follow us on Twitter for the latest news.
About salesforce.com
Salesforce.com is the world’s largest provider of customer relationship management (CRM) software. For more information about salesforce.com (NYSE: CRM), visit: www.salesforce.com.
NEW YORK and OAKLAND, Calif., Sept. 24, 2018 — Sirius XM Holdings Inc. (NASDAQ: SIRI) and Pandora Media, Inc. (NYSE: P) today announced a definitive agreement under which SiriusXM will acquire Pandora in an all-stock transaction valued at approximately $3.5 billion. The combination creates the world’s largest audio entertainment company, with more than $7 billion in expected pro-forma revenue in 2018 and strong, long-term growth opportunities.
This strategic transaction builds on SiriusXM’s position as the leader in subscription radio and a critically-acclaimed curator of exclusive audio programming with the addition of the largest U.S. audio streaming platform. Pandora’s powerful music platform will enable SiriusXM to significantly expand its presence beyond vehicles into the home and other mobile areas. Following the completion of the transaction, there will be no immediate change in listener offerings.
The combined company will drive long-term growth by:
Capitalizing on cross-promotion opportunities between SiriusXM’s base of more than 36 million subscribers across North America and 23 million-plus annual trial listeners and Pandora’s more than 70 million monthly active users, which represents the largest digital audio audience in the U.S.
Leveraging SiriusXM’s exclusive content and programming with Pandora’s ad-supported and subscription tiers to create unique audio packages, while also utilizing SiriusXM’s extensive automotive relationships to drive Pandora’s in-car distribution.
Continuing investments in content, technology, innovation, and expanded monetization opportunities through both ad-supported and subscription services in and out of the vehicle.
Supporting and strengthening Pandora’s highly relevant brand.
Creating a promotional platform for emerging and established artists, curated and personalized in ways to deliver the most compelling audio experience that connects artists to their fan bases, as well as new listeners.
Jim Meyer, Chief Executive Officer of SiriusXM, said, “We have long respected Pandora and their team for their popular consumer offering that has attracted a massive audience, and have been impressed by Pandora’s strategic progress and stronger execution. We believe there are significant opportunities to create value for both companies’ stockholders by combining our complementary businesses. The addition of Pandora diversifies SiriusXM’s revenue streams with the U.S.’s largest ad-supported audio offering, broadens our technical capabilities, and represents an exciting next step in our efforts to expand our reach out of the car even further. Through targeted investments, we see significant opportunities to drive innovation that will accelerate growth beyond what would be available to the separate companies, and does so in a way that also benefits consumers, artists, and the broader content communities. Together, we will deliver even more of the best content on radio to our passionate and loyal listeners, and attract new listeners, across our two platforms.”
Roger Lynch, Chief Executive Officer of Pandora, said, “We’ve made tremendous progress in our efforts to lead in digital audio. Together with SiriusXM, we’re even better positioned to take advantage of the huge opportunities we see in audio entertainment, including growing our advertising business and expanding our subscription offerings. The powerful combination of SiriusXM’s content, position in the car, and premium subscription products, along with the biggest audio streaming service in the U.S., will create the world’s largest audio entertainment company. This transaction will deliver significant value to our stockholders and will allow them to participate in upside, given SiriusXM’s strong brand, financial resources and track record delivering results.”
Transaction Details
Pursuant to the agreement, the owners of the outstanding shares in Pandora that SiriusXM does not currently own will receive a fixed exchange ratio of 1.44 newly issued SiriusXM shares for each share of Pandora they hold. Based on the 30-day volume-weighted average price of $7.04 per share of SiriusXM common stock, the implied price of Pandora common stock is $10.14 per share, representing a premium of 13.8% over a 30-day volume-weighted average price. The transaction is expected to be tax-free to Pandora stockholders. SiriusXM currently owns convertible preferred stock in Pandora that represents a stake of approximately 15% on an as-converted basis.
The merger agreement provides for a “go-shop” provision under which Pandora and its Board of Directors may actively solicit, receive, evaluate and potentially enter negotiations with parties that offer alternative proposals following the execution date of the definitive agreement. There can be no assurance this process will result in a superior proposal. Pandora does not intend to disclose developments about this process unless and until its Board of Directors has made a decision with respect to any potential superior proposal.
Approvals
The transaction has been unanimously approved by both the independent directors of Pandora and by the board of directors of SiriusXM.
The transaction is expected to close in the first quarter of 2019. It is subject to approval by Pandora stockholders, expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and certain competition laws of foreign jurisdictions and other customary closing conditions.
SiriusXM Reiterates Full Year 2018 Outlook
SiriusXM reiterated its full-year 2018 guidance provided on July 25, 2018, with self-pay net subscriber additions of approximately 1.15 million; revenue over $5.7 billion; adjusted EBITDA of approximately $2.175 billion, and free cash flow of approximately $1.5 billion.
Advisors
Allen & Company LLC and BofA Merrill Lynch are serving as financial advisors to SiriusXM and Baker Botts LLP and Simpson Thacher & Bartlett LLP are serving as its legal counsel. Centerview Partners LLC, LionTree Advisors LLC and Morgan Stanley & Co. LLC are serving as financial advisors to Pandora and Sidley Austin LLP is acting as legal counsel.
About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world’s largest radio company measured by revenue and has approximately 33.5 million subscribers. SiriusXM creates and offers commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment, and a wide-range of Latin music, sports and talk programming. SiriusXM is available in vehicles from every major car company and on smartphones and other connected devices as well as online at siriusxm.com. SiriusXM radios and accessories are available from retailers nationwide and online at SiriusXM. SiriusXM also provides premium traffic, weather, data and information services for subscribers through SiriusXM Traffic™, SiriusXM Travel Link, NavTraffic®, NavWeather™. SiriusXM delivers weather, data and information services to aircraft and boats through SiriusXM Aviation™ and SiriusXM Marine™. In addition, SiriusXM Music for Business provides commercial-free music to a variety of businesses. SiriusXM holds a minority interest in SiriusXM Canada which has approximately 2.6 million subscribers. SiriusXM is also a leading provider of connected vehicles services, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.
About Pandora
Pandora is the world’s most powerful music discovery platform—a place where artists find their fans and listeners find music they love. We are driven by a single purpose: unleashing the infinite power of music by connecting artists and fans, whether through earbuds, car speakers, or anywhere fans want to experience it. Pandora’s team of highly trained musicologists analyze hundreds of attributes for each recording which powers our proprietary Music Genome Project®, delivering billions of hours of personalized music tailored to the tastes of each music listener, full of discovery, making artist/fan connections at unprecedented scale. Founded by musicians, Pandora empowers artists with valuable data and tools to help grow their careers and connect with their fans.
CULVER CITY, Calif., – getTV, Sony Pictures Television (SPT) Networks’ new U.S. digital broadcast television network, showcasing Hollywood’s most memorable films from the 1930s through the 1960s, is launching today in more than 44 percent of the U.S. television households.
Carried as a digital subchannel on Univision Television Group-owned stations and others, getTV is launching in 24 markets, representing 17 of the top 20 DMAs. getTV is available across the country, from Los Angeles to New York on cable and free-to-air. The network will announce additional affiliates shortly.
“getTV is bringing the brightest stars and most unforgettable films from classic Hollywood into the living rooms of television viewers across the U.S. Our programming showcases the epic stories, legendary characters and glamour of the golden age of film. We believe that getTV will become a favorite network for movie fans looking for strong stories and rich characters,” said Superna Kalle, senior vice president, U.S. networks, SPT and general manager, Sony Movie Channel, Cine Sony Television and getTV, who manages the network.
The network officially kicks off at 4 p.m. (ET)/1 p.m. (PT) with a month long salute to two-time Academy Award® winner Jack Lemmon, beginning with the 1957 military comedy classic OPERATION MAD BALL, starring Lemmon, Ernie Kovacs, and Mickey Rooney.
At launch, getTV’s 24/7 schedule features some of the best of Hollywood’s movies chosen primarily from the Sony Pictures library with titles ranging from Academy Award®-winning films to Westerns and comedies.
The network offers weekly ‘get’ themes and programming blocks that represent different genres and generations. On Saturdays at ‘high noon’ viewers can ‘get out of town’ when getTV presents a full day and night of classic Westerns. On Sunday evenings the network highlights silver screen favorites and Tuesday’s primetime schedule ‘gets groovy,’ as getTV romps through the campy, comedic movies of the late 1950s and 1960s with its ‘Groovy Tuesdays’ block. Thursday and Friday nights, getTV features the work of iconic Hollywood stars. And, each weekday at 1 p.m. (ET)/10 a.m. (PT), the network showcases legendary film actresses with its ‘Afternoon Delight’ block.
In addition to its 24/7 schedule, getTV is launching the companion site get.tv, to provide viewers programming information, channel availability and an image-rich look at featured content. Film fans can also “get” social with the network, participate in upcoming sweepstakes and discover trivia by visiting getTV’s Facebook page.
Starting today, getTV can be seen on the following channels in these respective markets. In addition to the channel positions noted below, viewers are encouraged to consult their cable or pay TV service provider for additional location options or visit get.tv for channel numbers in their respective areas.
Market
Station, (Channel #)
Atlanta
WUVG-DT, Athens (34.3)
Austin
KAKW-DT, Killeen (62.3)
Bakersfield
TBD
Boston
WUTF-DT, Marlborough (66.3)
Chicago
WGBO-DT, Joliet (66.2)
Cleveland
WQHS-DT (61.3)
Dallas
KSTR-DT, Irving (49.2)
Denver
KTFD-DT, Boulder (14.3)
Fresno
KFTV-DT, Hanford (21.2)
Houston
KFTH-DT, Alvin (67.2)
Los Angeles
KFTR-DT, Ontario (46.2)
Miami
WAMI-DT, Hollywood (69.3)
New York
WFUT-DT, Newark (68.3)
Orlando
WOTF-DT, Melbourne (43.2)
Philadelphia
WUVP-DT, Vineland (65.3)
Phoenix
KFPH-DT, Flagstaff (13.3)
Raleigh
WUVC-DT, Fayetteville (40.4)
Sacramento
KTFK, Stockton (64.3)
Salt Lake City
KUTH-DT, Provo (32.3)
San Antonio
KWEX-DT, San Antonio (41.2)
San Francisco
KDTV-DT, San Francisco (14.3)
Tampa
WFTT-DT, Tampa (50.3)
Tucson
KUVE-DT, Green Valley (46.3)
Washington, D.C.
WFDC-DT, Arlington (14.3)
This Press Release is courtesy of www.sony.com
Abu Dhabi, UAE; Tokyo, Japan; and New York, USA; — May 22, 2018 – Mubadala Investment Company (“Mubadala”) and Sony Corporation (“Sony”) today announced that they have signed a legally binding memorandum of understanding (“MOU”) for the sale of the Mubadala consortium’s approximately 60% equity interest in EMI Music Publishing to Sony Corporation of America, a wholly owned subsidiary of Sony, based on an enterprise value of $4.75 billion.
As a result of the transaction, Sony will indirectly own approximately 90% of the equity interest in EMI Music Publishing and it will become a consolidated subsidiary of Sony. The closing of the transaction is subject to certain closing conditions, including regulatory approvals.
Kenichiro Yoshida, President and CEO, Sony Corporation said: “We are thrilled to bring EMI Music Publishing into the Sony family and maintain our number one position in the music publishing industry. I would also like to convey my gratitude to Mubadala, our equity partner in EMI Music Publishing, for sharing our long-term perspective on the potential success of music publishing and their support as we grew the business. The music business has enjoyed a resurgence over the past couple of years, driven largely by the rise of paid subscription-based streaming services. In the entertainment space, we are focusing on building a strong IP portfolio, and I believe this acquisition will be a particularly
significant milestone for our long-term growth.”
The original transaction and the investor consortium that partnered with Sony and the Michael Jackson Estate to acquire EMI Music Publishing from a wholly-owned subsidiary of Citigroup Inc. were sourced and assembled by Mubadala Capital’s private equity business, which has controlled and managed EMI Music Publishing on behalf of Mubadala and other third-party investors since 2012.
Hani Barhoush, Head of Mubadala Capital, said: “EMI has been a successful investment for Mubadala and I would like to personally extend my appreciation to the leadership at Sony and Sony/ATV, who have been instrumental in administering the EMI catalog as well as shaping the music landscape on a global basis.
They have been tremendous partners to us.” Adib Mattar, Head of Private Equity for Mubadala Capital and Chairman of EMI Music Publishing, said: “EMI Music Publishing represents one of the world’s largest and most diverse catalog of copyrights with iconic songs that span every decade over the last one hundred years. Writers and artists only stand to benefit under consolidated ownership and should feel proud to be part of the Sony family. The sale of our consortium’s interest in EMI Music Publishing represents a
milestone for Mubadala and our private equity business.”
While the final purchase price to be paid by Sony for all of Mubadala’s equity interest in EMI Music Publishing is subject to customary closing adjustments, the total cash consideration Sony expects to pay to consolidate EMI Music Publishing is approximately $2.3 billion. Sony will assume EMI Music Publishing’s existing gross indebtedness, which was approximately $1.359 billion as of March 31, 2018. Upon closing of the transaction, Sony expects to record in operating income a non-cash step-up gain of approximately 100 billion yen for the equity interest in EMI Music Publishing it currently owns. The step-up gain and the consolidation of EMI Music Publishing has not been included in Sony’s forecast of
consolidated financial results for the fiscal year ending March 31, 2019, and Sony is currently assessing the impact of this step-up gain and the consolidation of EMI Music Publishing on its consolidated financial results for the fiscal year ending March 31, 2019.
Over the past six years, Mubadala and Sony have worked together as partners to create value alongside Sony/ATV Music Publishing (“Sony/ATV”), Sony’s music publishing arm, which has been administering the EMI Music Publishing catalog’s legacy of iconic writers and artists, reinvesting in existing writer relationships and growing the catalog by signing new writers on a 50/50 basis with Sony/ATV.
These actions, coupled with the global rise of streaming and paid streaming services, have led to an appreciation in value of the EMI Music Publishing catalog as millions of consumers have been provided access to innovative distribution channels to enjoy music like never before.
EMI Music Publishing owns or administers over two million songs that include classics by Queen, Carole King and the Motown catalog along with contemporary songs from Kanye West, Alicia Keys, Drake, Sam Smith, Pink, Pharrell Williams, Calvin Harris, Fetty Wap, Hozier and Sia.
Together with Sony’s 100%-owned music publishing company, Sony/ATV, and Sony’s 100%-owned music company, Sony Music Entertainment (Japan) Inc., the Sony Group collectively owns more than 2.3 million copyrights, featuring the Beatles, contemporary superstars and the Leiber Stoller catalog.
EMI Music Publishing generated revenue of $663 million, adjusted operating income of $181 million*, and adjusted EBITDA of $249 million* for the fiscal year ended March 31, 2018.
*Adjusted to exclude certain non-recurring warrant expense and management incentive plan accruals.
– Ends –
About Sony Corporation
Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and online businesses, Sony is uniquely positioned to be the leading electronics and entertainment company in the world. Sony recorded consolidated annual sales of approximately $77 billion for the fiscal year ended March 31, 2018. Sony Global Web Site: http://www.Sony.net/
About Mubadala Investment Company
Mubadala Investment Company is a pioneering global investor, deploying capital with integrity and ingenuity to accelerate economic growth for the long-term benefit of Abu Dhabi. As Abu Dhabi’s leading strategic investment company, Mubadala is active in 13 sectors and more than 30 countries around the world, creating lasting value for our shareholder, the Government of Abu Dhabi.
Mubadala’s portfolio includes the development of global industrial champions in sectors such as aerospace, ICT, semiconductors, metals and mining and renewable energy, utilities, and the management of diverse financial holdings. We build on legacy expertise in oil and gas to invest across the hydrocarbon spectrum, and enhance the UAE’s growth potential through investments in healthcare, real estate and defense services. Our investment approach prioritizes partnership with best-in-class organizations and a commitment to the highest standards of governance.
www.mubadala.com
About Mubadala Capital
Mubadala Capital was established in 2011 as the financial investment arm of Mubadala, operating six integrated businesses focused on various asset classes and geographies that include private equity, public equities, credit, venture, sovereign investment partnerships and Brazil. The group invests globally across the capital structure in both public and private securities, whether directly or
through third-party managed funds.
In addition to managing its own balance sheet investments, Mubadala Capital manages third party capital on behalf of institutional investors in three of its businesses, including through two private equity funds and one early stage venture fund. Mubadala Capital is based in the Abu Dhabi Global Market.
About EMI Music Publishing
EMI Music Publishing is the second largest music publishing company by revenue. Through various arrangements, EMI either owns or has rights to publish approximately 2.1 million musical composition from every major genre and period. EMI exploits a comprehensive and diverse collection of copyrights for music and lyrics, sourced from a roster that includes a wide variety of iconic and popular songwriters, to generate revenues. EMI’s catalog is distinguished by its size, sustainability, stability, diversity and longevity. EMI’s catalog contains some of the greatest hits dating from the first half of the 20th century (‘‘Over the Rainbow’’ continues to be a top 10 revenue performer more than 75 years after its initial release) through today (including ‘‘Happy,’’ ‘‘Chandelier,’’
‘‘Summer’’ and ‘‘Take Me to Church’’). EMI has rights to publish musical compositions from current songwriters including Kanye West, Alicia Keys, Drake, Sam Smith, Pink, Pharrell Williams, Calvin Harris, Fetty Wap, Hozier and Sia.
EMI is a global company that obtains rights to musical compositions from songwriters and other rights holders around the world and exploits those rights in 32 countries.
News Corp today issued the following statement from Executive Chairman, Rupert Murdoch:
“Facebook and Google have popularized scurrilous news sources through algorithms that are profitable for these platforms but inherently unreliable. Recognition of a problem is one step on the pathway to cure, but the remedial measures that both companies have so far proposed are inadequate, commercially, socially and journalistically.
There has been much discussion about subscription models but I have yet to see a proposal that truly recognizes the investment in and the social value of professional journalism. We will closely follow the latest shift in Facebook’s strategy, and I have no doubt that Mark Zuckerberg is a sincere person, but there is still a serious lack of transparency that should concern publishers and those wary of political bias at these powerful platforms.
The time has come to consider a different route. If Facebook wants to recognize ‘trusted’ publishers then it should pay those publishers a carriage fee similar to the model adopted by cable companies. The publishers are obviously enhancing the value and integrity of Facebook through their news and content but are not being adequately rewarded for those services. Carriage payments would have a minor impact on Facebook’s profits but a major impact on the prospects for publishers and journalists.”
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.
New York, NY – Ben Berkowitz has been named Editor-in-Chief of Storyful, the leader in discovering, validating and acquiring social media and insights for global media organizations. Mr. Berkowitz was previously Vice President, Digital at WNBC and has two decades of news experience with NBC, Thomson Reuters, the Associated Press and more.
“I’m thrilled to be joining a team on the cutting edge of data-driven projects while also maintaining a top-rate, globally recognized standard for its journalism,” Berkowitz said. “I can’t wait to learn more about the business and begin working with all of our great partners.”
Mr. Berkowitz will take over responsibility for Storyful’s global editorial operation starting in August. As Editor-in-Chief, he will drive long term strategy and maintain day-to-day oversight of Storyful’s newsroom including offices in Dublin, New York, London, Hong Kong and Sydney. He will also lead new initiatives such as News Intelligence, an investigative research service for newsrooms, and training programs designed to combat misinformation on social media for the world’s largest media companies.
The Storyful editorial team are expanding their News Intelligence work – mapping and monitoring the flow of information as it moves across closed, semi-closed and open platforms – while also planning an upcoming set of significant upgrades for its core Newswire product. These initiatives all build toward the team creating more consultative partner relationships and expanding its footprint internationally.
“Now is the perfect time for us to bring in an editor with Ben’s pedigree”, said chief executive Sharb Farjami. “Social media is more complex than it has ever been and more vital to newsrooms. With Ben at the helm, we’ll help partners meet the challenges of this environment, go deeper in their reporting and cover the most important stories in the world.”
###
About Storyful
Storyful, a division of News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV), is the world’s social media intelligence agency, combining award-winning journalism with comprehensive data access and agile technology to find insights and content for media and brand partners. Their expertise allows them to verify and contextualize social data, conversations and content to find the truth in the vast landscape of social noise.
New York, NY – Storyful, the leading provider of validated social media intelligence, announced today the relaunch of its Newswire flagship product. The Storyful Newswire now provides newsroom customers with faster discovery of content and deeper intelligence on news and digital trends around the globe.
“Over the last eight years, social media evolved into a complex and vital source of video and news,” said Sharb Farjami, CEO of Storyful. “Eyewitness social video footage is now standard for reporting on breaking news, political disruption, dramatic weather events and emerging cultural trends. The rise of disinformation and new technologies make it difficult for publishers to authenticate video or separate fact from fiction. Our unique combination of trained journalists and adaptable technology power the Newswire to make sense of social media for partners.”
First built to help editorial teams utilize verified social content in broadcast and digital publishing, the Storyful Newswire is the first social media newswire. The platform provides users deeper intelligence about breaking news events and trends, more content and video around emerging stories, and better search functionality to improve the speed of discovery. The goal is to help partners reduce the time and resources necessary to gather content and news from social media for use in publishing.
The new Storyful Newswire enhances the ability to discover relevant content with accurate keyword match results, location-tagged content and suggested stories to surface related content and video. In addition, new filters allow users to tailor their experience to fit their editorial agenda. Content can be clustered by region or area of interest, clearance (licensed, cleared, public), date, category and keyword.
Content options are also expanding. Storyful’s newsroom will guide partners to top content and developing stories through Collections, which offer greater depth of insight and range of video options to inform coverage. A new story type called “FYIs” provides investigative background around complex news events such as the Syrian civil war, election disinformation campaigns and weather events.
About Storyful
Storyful, a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV), is the world’s social media intelligence agency, combining award-winning journalism with comprehensive data access and agile technology to find insights and content for media and brand partners. Their expertise allows them to verify and contextualize social data, conversations and content to find the truth in the vast landscape of social noise.
STOCKHOLM, June 28, 2021 /PRNewswire/ — Sherlock Holmes is ready for new intriguing and mind-boggling adventures going audio first. An exclusive agreement between Storytel and The Conan Doyle Estate gives Storytel the privilege of developing completely new stories featuring the world’s most iconic and loved detective. The adventures will be written by a team of writers under the creative lead of award winning novelist and screenwriter Anthony Horowitz.
“The Conan Doyle Estate’s curiosity and interest in our idea of taking the Sherlock Holmes legacy to a new place in a new digital format is a dream come true, and so is getting Anthony Horowitz signed to the project. Not only is he an amazing plot maker and writer of successful novels and tv-scripts, through the novels House of Silk and Moriarty he has already dwelled deep into the Sherlock Holmes universe. I am more than convinced that Anthony is perfect for leading this unique project creatively,” said Rickard Henley, Head of Global Direct Publishing at Storytel.
Anthony Horowitz is one of the most versatile, prolific and successful authors in the UK – and unique for working across many media. His Alex Rider series has sold around 20 million copies worldwide and is credited with encouraging an entire generation to read. In total, Anthony has written over 40 books including new Sherlock Holmes and James Bond novels and award winning television series including Midsomer Murders and Foyle’s War. His bestselling novel, Magpie Murders has just been filmed. A Line to Kill, the third in the series which involves him personally in murder investigations, along with ex-DI Hawthorne, comes out in August.
In a deal brokered by his agent Jonathan Lloyd at Curtis Brown, Horowitz has signed a showrunner agreement with Storytel for three completely new stories about Sherlock Holmes. The license agreement with Conan Doyle Estate will give him and Storytel access to both the brand and the vast knowledge and expertise that lies in the heritage of Sir Arthur Conan Doyle.
“Growing up, we were always reminded of my great uncle Arthur’s passion for telling stories to his children as his mother had done with him. He created some of the world’s most famous stories and characters because of his first love for storytelling. Our mission for the estate is to expand Sir Arthur’s universe and characters far past the original stories. We are delighted to be collaborating with Storytel and Anthony Horowitz on this audio first project which will give Sherlock and his universe a whole different dimension,” said Richard Doyle of The Conan Doyle Estate.
Anthony Horowitz
said:”This is going to be Sherlock Holmes from a very different perspective, staying true to the spirit of the books – which I have always loved – but expanding the narrative and the vision of Conan Doyle in all sorts of unexpected ways. I’m excited to be collaborating with Storytel who has a huge worldwide audience. For me this project is an adventure in itself”.
The scripted series will be written by a team of writers under the creative lead of Anthony Horowitz and Storytel’s Executive Producer Søren Vestergaard. The format is audio first for release on all Storytel markets from Spring 2022. Discussions with print publishing partners and tv- and movie adaptations are already underway.
FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se or +46 8 528 00 399.
For more information, please contact:
Dan Panas, Head of Global Communications & PR at Storytel
Tel: +46 70 186 52 90
Email: dan.panas@storytel.com
About Storytel
Storytel is one of the world’s largest subscribed audiobook and e-book streaming services and offers listening and reading of more than 500 000 titles on a global scale. Our vision is to make the world a more empathetic and creative place with great stories to be shared and enjoyed by anyone, anywhere and anytime. Storytel’s streaming business is conducted under the brands Storytel and Mofibo. Storytel’s publishing business area is carried out through the audiobook publisher StorySide and acclaimed Nordic publishing houses such as Norstedts, People’s and Gummerus. Storytel operates in 25 markets around the globe and is headquartered in Stockholm, Sweden.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/storytel/r/storytel-and-the-conan-doyle-estate-in-exclusive-agreement—bestselling-author-anthony-horowitz-cre,c3375268
The following files are available for download:
https://news.cision.com/storytel/i/anthony-horowitz,c2930375
ANTHONY HOROWITZ
SOURCE Storytel
NEW YORK, – TBWA Worldwide announced today that it has merged leading network agencies TBWA\Toronto and Juniper Park to form a new agency, Juniper Park\TBWA, effective immediately.
The Juniper Park partnership team of CEO Jill Nykoliation and Chief Creative Officers Terry Drummond, Alan Madill and Barry Quinn will lead the office, reporting to TBWA Worldwide President and CEO Troy Ruhanen. Jay Bertram, current President of TBWA\Canada and head of the Toronto office, will depart the network to explore new opportunities at the end of September.
The two Toronto-based shops will combine their staff under one roof in the Juniper Park space next month, and will operate a combined roster of clients that includes CIBC, Nissan, eos, Miller Lite, PepsiCo, Petro-Canada, Pfizer and Virgin Mobile.
“The potential to bring together the dynamic creative culture of TBWA and its emerging digital prowess, with Juniper Park’s strategic and creative design capabilities became too great an opportunity to resist,” said Ruhanen. “Both agencies are individually strong, but together they not only become a force in Canada, they now allow the network to have a stronger than ever presence in three major North American cities — New York, L.A. and Toronto.”
He added: “Beyond being a great friend, Jay Bertram has been a great asset to the TBWA family for many years and was profoundly instrumental in growing and enriching our brand in Canada and beyond. He has chosen this moment to start a new journey knowing that he has positioned the agency and its people in the best possible place with this merger. We wish him the best in all opportunities that lie ahead.”
A longtime Omnicom agency partner, Juniper Park officially joined the TBWA network in March as part of a global market restructure to help strengthen TBWA’s footprint in the North American market, as well as broaden its design capabilities. The two agencies have a strong history of collaborating on many North American clients, including Miller Lite, Henkel and PepsiCo.
Nykoliation, who is part of TBWA’s global management team, said, “Uniting as Juniper Park\TBWA brings further scale and momentum to our team and our clients. We already work with TBWA offices around the world. This merger formalizes a relationship that is well underway.”
“Juniper Park has practiced disruptive creative and design thinking from its inception. And we greatly respect TBWA’s focus on creating iconic work. This is a terrific match,” said Barry Quinn, CCO.
Jay Bertram, who has been overseeing TBWA’s Canadian operations, will depart at the end of September. “I have truly valued my time at TBWA,” said Bertram. “I want to thank both Troy and Tom [Caroll] for their continued support, as well as our clients for being such fantastic longstanding partners. I give my full support to this merger of two great creative cultures, coming together to form a powerhouse agency to be reckoned with.”
About TBWA Worldwide
TBWA Worldwide (www.tbwa.com) is a top ten ranked global advertising network that holds Disruption® at its core to develop business-changing ideas for the brands it works with. TBWA has 11,100 employees across 323 offices in 97 countries and also includes brands such as AUDITOIRE, BEING, Digital Arts Network (DAN), eg+ worldwide, The Integer Group®, TBWA\Media Arts Lab and TBWA\WorldHealth. TBWA’s global clients include Accenture, adidas, Apple, Energizer, Gatorade, GSK, Henkel, McDonald’s, Michelin, Nissan, Pernod Ricard, Pfizer, Standard Chartered Bank, Singapore Airlines, Sotheby’s and Vichy. Follow TBWA on Twitter and Instagram and like us on Facebook.
About Omnicom Group Inc.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.
© UNESCO
Advances in technology and innovative business models have opened avenues for freedom of expression across the world, but new challenges have also emerged in the form of internet censorship, filtering, blocking and surveillance, according to a UNESCO report released today in Stockholm.
The study, World Trends in Freedom of Expression and Media Development, recognizes that new technologies have empowered individuals with unprecedented opportunities to access, produce and share media content across multiple platforms. At the same time, the Report warns that the increasing control of online content by Internet intermediaries, such as search engines and social media networks, threatens transparency in the free flow of information and raises concerns about the “privatization of censorship.” According to the Report, journalists and online media actors face new threats related to their safety in the digital sphere.
For UNESCO, the findings of the Report call for reinforced action in support of press freedom.
“Freedom of expression is essential to dignity, dialogue, democracy and sustainable development”, said Irina Bokova, Director-General of UNESCO. “We need to act on the ground – to strengthen national legislative frameworks, to train journalists, to build capacity and advance media and information literacy. We must continue to support media independence by promoting professional standards and self-regulation,” she added.
In partnership with UNESCO, an Advisory Group of 27 international experts from civil society and academia contributed to the study, which analyzes trends in press freedom along four dimensions: freedom, pluralism, independence and the safety of journalists. The Report explores major trends in these areas since 2007 around the world, with a particular focus on global media and the gender dimensions of press freedom.
According to the Report, progress towards greater media freedom has lost momentum in some regions that have experienced political transitions, and press freedom laws have not always been effectively implemented. Direct and self-censorship remain challenges to journalists worldwide.
Despite the continued economic dominance of a handful of companies in both traditional and online media, the vast expansion of information sources and platforms has positively impacted media pluralism.
The Report also finds that State or public advertising continue to affect independent reporting. At the same time new business models are prompting the emergence of independent journalistic organizations, such as non-profit investigative journalism groups.
International awareness of the importance of journalists’ safety has significantly risen over the last six years. This is due in large part to the implementation of the UN Plan of Action on the Safety of Journalists and the Issue of Impunity. However, the number of journalist killings has continued to rise. According to UNESCO’s data, 430 journalists were killed between 2007 and 2012, including 23 women, who face rising forms of intimidation and abuse, including sexual assault. Although conflict zones remain the most dangerous places for journalists, between 2007 and 2011 more were killed outside of these areas, and impunity for these crimes remains the norm, the Report notes.
Additional regional sections in each of the four thematic chapters will be published as an online companion to the Report later this spring.
World Trends in Freedom of Expression and Media Development was produced with support from the Government of Sweden.
This news is courtesy of www.unesco.org
TORONTO, Feb. 21, 2022 /CNW/ – The Board, which provides direction and oversight of the annual competition, comprises 20 members who serve on a voluntary basis. Seven members represent Canadian newspapers, seven represent other parts of Canada’s news industry, and six are “at-large” representatives. Five of the “at-large” positions have recently been earmarked for individuals and groups that help diversify the Board’s membership and amplify voices and viewpoints that have not been heard in the past.
Two of those positions are allocated to associations, and one to a journalist of Indigenous descent. Those positions are currently held by Dexter Brown (Canadian Association of Black Journalists), Jason Chiu (Canadian Journalists of Colour) and Jim Compton (a longtime broadcaster and one of the founders of APTN).
For the two vacant positions we are seeking to fill, preference will be given to candidates who can provide perspective and input on behalf of equity seeking groups, in particular individuals who self-identify as BIPOC and/or LGBTQ2S+.
Governor positions are unpaid. Appointments are for three years and may be renewed for an additional three years. The Board of Governors meets three times each year (January, May and September). Meetings typically last about two hours and are conducted through remote conferencing. There are a few standing committees, including one that examines ways to make the contest more reflective of Canada’s diversity, and one that annually reviews rules, categories, eligibility requirements and judging procedures
Anyone interested in applying to serve on the Board of Governors should send an email outlining their qualifications, background, interests and any other relevant information by March 11 to Paul Woods, Executive Director, exec@nna-ccj.ca.
Diversity and Inclusiveness
Over the past year, the National Newspaper Awards has examined its history and operations, concluded that the program has not been reflective of Canada’s diversity, and made a commitment to have the competition become more diverse and inclusive. A number of early changes flowed from that commitment. Here’s a look at these initiatives and a preliminary evaluation of their impact:
Fees were reduced for freelance journalists who entered the competition independently, and for journalists in digital news organizations, outside the traditional realm of newspapers. Those journalists were charged $20 per entry this year, compared to fees of $40 and $50 for entries from traditional news organizations. This resulted in a greater number of freelance and digital entries in this year’s competition than in past years.
We encouraged eligible news organizations, from both the traditional newspaper realm and the digital world, to submit the best work done by journalists from equity-seeking groups, including BIPOC and LGBTQ2S+. We are researching how we might be able to collect reliable demographic information about entrants, while also ensuring privacy and the integrity of the awards program.
We set out to expand our pool of judges so that it better represents Canada’s diverse nature. In addition to using existing channels to recruit and retain judges, we publicly solicited new judges in an effort to expand and diversify the pool. We also reached beyond the usual groups (retired and inactive journalists, communications professionals, broadcast journalists and journalism educators) to seek out individuals who would not have been considered in the past but who could bring the sort of thoughtful deliberation required from judges. As a result of these steps, the pool of prospective judges for this year was larger than ever – 120 individuals available for 66 positions. Another four dozen individuals declined to volunteer this year but asked to remain on the list for future years. Although there is currently no information available on how judges self-identify, we believe we have established a foundation for growth in the diversity of voice and opinion on our judging panels.
We sought viable candidates from equity-seeking groups as we moved to fill upcoming vacancies in the two positions that operate and administer the program, Executive Director and Program Director. These positions, which are part-time, did not attract many applications, and we did not succeed in the goal of developing a large, diverse pool of candidates. However, both roles have been filled by strong candidates.
We revamped the Board of Governors to earmark five positions for individuals and organizations from equity-seeking groups. As noted above, three positions have been filled and we are now looking to fill the remaining two vacancies.
Other possible changes continue to be discussed. The individuals selected to join the Board will be strongly encouraged to take an active role in those discussions, and to bring new ideas to the table.
The National Newspaper Awards were established in 1949 by the Toronto Press Club to encourage excellence and reward achievement in Canadian daily newspaper journalism. The contest is also open to Canadian news agencies and other organizations (outside of broadcasting and magazine publishing) that publish original content at least five days a week. The NNAs moved to an independent, not-for-profit governance structure in 1989. The program is funded through annual fees paid by benefactor organizations, entry fees and sponsorships.
Our thanks to Cision for sponsoring this news release.
SOURCE National Newspaper Awards
CONTACT: Paul Woods, Executive Director, National Newspaper Awards, exec@nna-ccj.ca, 905-719-8675
