Broadcasting

Review: NBC chief’s deal-heavy memoir merits split

2 Sep 2016

Bob Wright engagingly takes readers behind the scenes of how he built the U.S. network over two decades at General Electric. Negotiations with Jack Welch, Bill Gates and Ted Turner enhance the drama. A moving ending about autism, however, would have better suited a second book.

Best reason to keep Viacom’s interim boss: breakup

24 Aug 2016

The $17 bln media firm named Tom Dooley as interim CEO. It's a strange move given his deep ties to ousted boss Philippe Dauman and his strategy. But while that makes him an odd choice to revive Viacom's fortunes he may know how to get the best value for its various assets.

Stars align for a new Sky takeover attempt

7 Jul 2016

The drop in the pound could tempt Rupert Murdoch’s Fox to bid for the 61 pct it doesn’t own of the UK pay-TV operator, after failing to do so in 2011. It would leave Fox investors more exposed to Europe. Still, if the Murdoch clan is bullish, there’s no time like the present.

Comcast and Netflix put growth ahead of gripes

6 Jul 2016

The video-streaming service helped scupper the cable provider's bid for Time Warner Cable. Now Comcast is putting its nemesis on its set-top box - with access to 22 mln potential subscribers - as it tries to build a one-stop video shop. Those are good reasons to bury the hatchet.

CBS-Viacom reunification doesn’t add up

20 Jun 2016

The idea of the $24 bln broadcaster buying its MTV-owner sibling is going around 10 years after Sumner Redstone separated them. The split never made sense and Viacom’s weak performance has brought boardroom discord. But the likely benefits don’t justify CBS paying a premium.

Viacom boss may soon pull gilded ripcord

16 Jun 2016

Media mogul Sumner Redstone says he has lost trust in Philippe Dauman, putting the CEO’s future at the MTV owner in doubt. If cut loose, he’d leave with an $80 mln exit package that rivals those of Michael Ovitz and Carly Fiorina. Corporate payouts for failure stubbornly linger.

Ultimate Fighting punches up value of live sports

11 May 2016

The U.S. promotion firm is reportedly seeking up to $4 bln for its mixed martial arts contests, with China’s Dalian Wanda viewed as a likely buyer. That seems high for a relative upstart in the world of pro athletics. But huge audiences for real-time events may justify the price.

Disney could use a double dose of cable magic

11 May 2016

The $170 bln media firm missed second-quarter profit expectations, as revenue growth stalled at networks ESPN and A&E. The twin disappointments highlight the need to figure out shifting TV-viewing habits. Add the search for a successor, and CEO Bob Iger’s job looks even tougher.

Altice’s wily Cablevision math adds up to trouble

10 May 2016

Patrick Drahi’s telecom group told investors it can cut $900 mln in costs to justify the $18 bln U.S. cable acquisition. To appease New York officials worried about service, Altice is using a shorter timeframe to tout a $450 mln sum. Both constituencies will end up disappointed.

Sumner Redstone ruling takes drama back to Viacom

9 May 2016

A California judge threw out a lawsuit filed by his ex-girlfriend that captivated Hollywood and Wall Street alike. The media mogul’s bizarre deposition confirmed the very poor health many suspected. Even so, he keeps control of his empire – half of which is ailing badly, too.

Comcast’s $3.8 bln Shrek deal needs some make-up

28 Apr 2016

The broadcaster’s NBC Universal unit is paying a 50 pct premium for DreamWorks, which has been losing money for two years. Cost cuts, recouped revenue and more movies may justify the price for Jeffrey Katzenberg’s studio. But Comcast is leaving its investors in the dark.

Comcast’s DreamWorks bid turns up heat on Disney

27 Apr 2016

The media and cable firm may offer $3 bln for the maker of “Shrek” and other animated films. The small but significant addition could help CEO Brian Roberts’ company compete with the Mouse, which it tried to buy in 2004. It might also ease the pain of losing Time Warner Cable.

Disney leadership hitch evokes Eisner era

7 Apr 2016

After losing his heir apparent, Bob Iger may opt to stick around beyond a planned 2018 retirement date. His predecessor, Michael Eisner, botched a succession plan and overstayed his welcome after a successful first decade as CEO. There’s a danger Disney history repeats itself.

Disney’s fairytale CEO plan gets twist in ending

5 Apr 2016

Bob Iger’s right-hand man Tom Staggs is stepping down, a year after he was anointed as heir apparent. That leaves no obvious succession plan at Disney after Iger twice extended his reign. An outsider would be surprising. At least the company has two years to find a replacement.

CBS exit from radio in tune with the times

16 Mar 2016

The $24 bln broadcaster is mulling a sale of its 117 U.S. stations, just as internet service Pandora may be on the block. The moves could make sense, given stiff competition from the likes of Spotify, waning advertising and other industry disruption. The trick is to find buyers.

Viacom’s minority shareholders give up their bark

14 Mar 2016

A “substantial majority” of non-insiders voted to re-elect the media company’s board, including boss Philippe Dauman. That’s despite hand-wringing over strategy, poor returns and Sumner Redstone’s health. It’s a pity: even minority owners can sometimes force changes.

Why the Yankees are swinging their bats at Comcast

9 Mar 2016

The $140 bln cable operator is sticking by a decision to drop the channel that airs the team’s baseball games, risking the ire of Bronx Bombers fans as the season starts. The fracas underscores bigger problems in the pay-TV universe as distributors become choosier about networks.

Oscars spotlight red carpet for Chinese investors

26 Feb 2016

Tinseltown’s glitziest night is on Sunday, where stars like Leonardo DiCaprio vie for the movie biz’s most prestigious awards. Healthy box-office sales of $11 bln last year belie looming challenges for some studios. Chinese investors are likely to get the runway treatment.

Super Bowl 50 could mark peak sports TV

5 Feb 2016

More than 100 mln people are due to watch the Panthers and Broncos battle for supremacy on Sunday amid $10 mln-a-minute ads. Live sports are pivotal for broadcasters but the $18 bln price tag is getting harder to justify. As cord cutting accelerates, the chalice will be poisoned.

Viacom’s boardroom drama belongs on reality TV

4 Feb 2016

CEO Philippe Dauman replaced Sumner Redstone as chair of the $18 bln media firm, thwarting the controlling stockholder’s daughter, Vice Chairwoman Shari Redstone. She wanted an independent leader. Investors may not like the soap opera, but it has potential as a much-needed hit series.