The increase to $489 million is primarily driven by new initiatives and a 24% increase in a new category, Subscription Revenue, which includes retrans.
Charter Communications shares surged to a record high on Monday after a source said Japan’s SoftBank Group Corp was considering an acquisition offer, even as Charter shot down the possibility of it being the acquirer in any merger with SoftBank’s U.S. wireless carrier, Sprint Corp.
Portland, Maine, CBS affiliate WGME and Fox affiliate WPFO each carry commentary segments by Boris Epshteyn nine times a week on orders from their owner, Sinclair Broadcasting Group, the nation’s largest owner of local television stations and an aggressive, unabashed disseminator of conservative commentary supporting the Trump wing of the Republican Party. The commentaries are raising some eyebrows among viewers and others in the state.
Sony Corp. posted group-wide net income of $722 million, up 282% from the same quarter last year, as the company’s turnaround continued to bear fruit. Sony Pictures posted a loss of $86 million for the April to June quarter, compared to a $103 million loss in the same period last year. Sales were up 12.3%, helped by higher television production sales, offset by lower theatrical revenue along with advertising costs for Spider-Man: Homecoming.
Stocks inched up Monday as media and bank gains canceled out a drop among tech issues.
Tribune Media Co. said Monday afternoon that it has sold the majority of its ownership stake in CareerBuilder, as Tegna completed the sale of CareerBuilder to an investor group led by investment funds managed by affiliates of Apollo Global Management and the Ontario Teachers’ Pension Plan Board. As a participant in the sale, Tribune Media will receive approximately $158 million in cash and will retain an approximate 7% ownership stake in CareerBuilder on a fully-diluted basis.