Fox Corp. closed its fiscal year with a solid performance in its fourth quarter, beating Wall Street revenue and earnings forecasts. The TV and streaming company thrived on a bounce-back for advertising compared with the depths of COVID-19 a year ago. Total revenue climbed 20% to $2.89 billion and earnings per share came in at 65 cents, up from 62 cents in the year-ago period.
Stocks shook off a wobbly start to end Tuesday higher. The S&P 500 rose 0.8% after having been down 0.3% in the early going. The gain inched the benchmark index to an all-time high, eclipsing the record it set early last week.
Life felt a lot like TV judicial nonfiction as an appeals court poured ice cold water on efforts to drag the big salary of Judge Judy into the profits dust-up between CBS and Rebel Entertainment Partners over the now shuttered syndicated show. “It’s always gratifying when the correct judgment is affirmed,” Sheindlin said.
Gray Television today announced new positions for three of its human resources experts. The news follows the closing on Monday of its purchase of Quincy Media’s television stations. Maurice Gibson is now vice president, employee relations. In this role, he will continue leading Gray’s Employee Relations team. He has over 25 years of human resources […]
Discovery President-CEO David Zaslav ramped up his ire for TV ratings giant Nielsen during a Tuesday conference call tied to Discovery’s second-quarter earnings. The future calls for “better data” than the long-standing measurement currency company offers, Zaslav said. “Unfortunately, Nielsen is a whiff. And it’s just massively disappointing. We have lost money. Everyone has lost money. You’re dealing with a very antiquated delivery system.”
Advertising rebounded strongly in the second quarter, enabling Discovery Communications to easily beat Wall Street’s estimates. Total revenue climbed 21% over the prior-year quarter, reaching $3.06 billion, as earnings per share hit $1.01. Analysts had expected revenue of $2.97 billion and earnings of 85 cents. Ad revenue in the U.S. rose 12% and the company noted it completed a record-setting upfront process during the quarter, which ended June 30. Distribution revenue also increased 12%.
She is promoted by Gray Television to succeed retiring general manager Frank Brady at the West Virginia NBC affiliate.
Eric D. Greenberg joins from the law firm Perkins Coie to oversee all legal responsibilities for CMG’s business and operations, as well as corporate governance, transactions, and regulatory compliance.
ViacomCBS’s board of directors announced a quarterly cash dividend of $0.24 per share on both its Class A and Class B common stock. The dividend will be payable on Oct. 1 to stockholders of record at the close of business on Sept. 15. At the same time, the board of directors also declared a quarterly cash dividend of $1.4375 per share on its 5.75% Series A mandatory convertible preferred stock. The dividend will be payable on Oct. 1 to stockholders of record at the close of business on Sept. 15.
AT&T has completed the spinoff of DirecTV into a new entity part-owned by private equity firm TPG, capping a costly six-year adventure in the satellite TV business. The new entity, whose financials will no longer be included on the AT&T balance sheet, unveiled new branding and a new home for its internet-delivered TV packages. Later this month, DirecTV Stream will become the umbrella for streaming offerings like the one formerly known as AT&T TV Now (originally DirecTV Now).
Stocks ended mixed Monday after starting August off on a choppy note. The S&P 500 slipped 0.2% in the final hour of trading after holding a slight gain for much of the afternoon.
Gray now owns TV stations serving 102 television markets that collectively reach 25.4% of U.S. television households, including the No. 1-ranked station in 76 markets. The Byron Allen-owned Allen Media Broadcasting now owns and operates 25 television stations in 19 U.S. markets.
Competing economic incentives are leading NBCUniversal, Disney and WarnerMedia to make difficult decisions about how to program their streaming services. The tension between how to balance streaming video, theatrical release and linear TV is leading to some peculiar choices bound to confuse consumers in what’s becoming an increasingly jumbled landscape.
Callie Starnes was named station manager at WRCB, the NBC affiliate in Chattanooga, Tenn., owned by Sarkes Tarzian, and will become general manager at the end of the year. The station’s current GM, Pam Teague, was promoted to chief operating officer at Sarkes Tarzian.
The emerging tools require much data harnessing, training and software improvements, among other issues, but the upside is enormous, industry leaders said at a TVNewsCheck webinar last week.
Thanks to searingly modern platforms like Twitch and Pluto TV, the late painter and public TV personality Bob Ross has become a mainstay of the digital universe — particularly during the pandemic, when the popularity of a new Bob Ross channel skyrocketed as people trapped at home turned to their televisions for therapy. Ross provides a reductio ad absurdum for a quiet digital-age truth: A sprinkling of coveted intellectual property can allow a shrewd company to punch well above its weight.
Wall Street stumbled Friday at the close of another strong month. The S&P 500 lost 23.89, or 0.5%, to 4,395.26. But it nevertheless wrapped up its sixth straight month of gains, its longest such streak since 2018, and it’s still within 0.6% of its record high set on Monday.
The Local Media Consortium, a strategic alliance of local media companies, released its first member economic impact report that “quantifies how its strength-in-numbers business model is helping the industry maximize digital cost savings and revenue for long-term sustainability.” This baseline impact report finds that by banding together to leverage scale, in 2020 the LMC delivered […]
Charter exceeded Wall Street estimates in the second quarter, reporting earnings of $5.29 a share and revenue of $12.8 billion. Analysts’ consensus expectation was for earnings of $4.79 and revenue of $12.6 billion.
IRIS.TV has added OTTera, a white label OTT service, to the IRIS-enabled open video data ecosystem. With this integration, OTTera streaming CTV content will be contextually segmented by a growing list of data providers including Oracle Advertising, Comscore, GumGum, ZEFR, Kerv Interactive and Advanced Contextual, with all segmentation enabled by IRIS.TV. The new partnership will […]
It’s acquiring the Telemundo affiliate from Ramar Communications along with three other full-power signals, a Class A, three LPTVs and 20 translators.
In an increasingly attention-saturated environment, consumers are forced to self-filter what they spend their attention on. What’s not making the cut? Ads — according to a new report from Midia Research. According to the report, 52% of all consumers stop paying attention when ads come on the TV, and that figure is as high as 61% for people aged 55 and older.
TVNewsCheck’s Michael Depp talks with Inside Edition host Deborah Norville about supporting the Broadcasters Foundation of America as its fundraising efforts have been hampered by the pandemic.
Wall Street pushed broadly higher Thursday after two days of losses. The S&P 500 index rose 0.4%, powered by broad gains. About 77% of the stocks in the benchmark index closed higher.
During the three-month period ended June 30, the Seattle-based company reported profit of $7.78 billion, or $15.12 per share compared to $5.24 billion, or $10.30 a share, during the year-ago period. Revenue jumped 27% to $113.08 billion.
The longest serving general manager in the CBS Stations group is retiring at the end of the month. Walt DeHaven, vice president and general manager of the CBS Denver O&O KCNC, is retiring on July 30 after what he called a “long and wonderful career in broadcasting.”
The film star says the decision to release the film simultaneously on Disney Plus and in theaters cost her $50 million.