U.S. stocks drifted down slightly Friday in a quiet close to another winning week. It was a day full of broken streaks — oil fell for the first time in two weeks, and the yield on the 10-year Treasury note sank to its first loss in more than a week — but the market remained calm through it. Gradual moves for markets in recent days have offered a respite following the tumultuous trading that rocked investors in late 2018.
Meredith promotes him from general sales manager at its Fox affiliate to succeed Todd Brown.
New Fox, a subsidiary of 21st Century Fox, on Friday said it has no plans to bid for the 22 Fox regional sports networks that regulators have said Walt Disney must divest as part of its acquisition of large parts of 21st Century Fox.
Tegna, Hearst and EW Scripps are all planning on submitting final offers for Cox Media Group’s 14 TV stations at the end of January, according to people familiar with the matter. Final bids are due by Jan. 30, said the people, who asked not to be named because the process is private. A deal could fetch more than $2 billion, and possibly close to $3 billion, the people said.
The Freedive streaming service will include a selection of acquired movies and TV shows, with the launch lineup including TV shows like Fringe and Heroes and movies such as The Last Samurai and The Illusionist.
Netflix’s stock is beginning 2019 on a hot streak, rising more than 24% in January to date. Shares gained another 1.5% Thursday to close at $324.66 and rose nearly another 2% in after-hours trading. A big boost to investor sentiment came late Thursday afternoon when UBS analyst Eric Sheridan upgraded the stock to “buy” from “neutral” and raised his 12-month price target to $410 from $400. Healthy numbers are expected Jan. 17 when Netflix releases 4Q results.
Ever since the NFL launched Thursday Night Football, the Super Bowl has been a harder sell for advertisers. But CBS says it has commitments for “more than 90%” of its available commercial inventory with about a month to go before the game.
CEO Hilton Howell and other execs will ring the exchange’s closing bell on Jan. 11 to mark the company’s purchase of Raycom Media. Gray has been traded on the exchange since 1995.
The new contract covers Tribune’s 42 television stations and cable network WGN America.