Publishing

Review: Devaluing the priceless

11 May 2012

What do you call someone who knows the price of everything and the value of nothing? A cynic, said Oscar Wilde. An economist, says Michael Sandel, whose book “What Money Can’t Buy” explores the corrosive effects of glibly unleashing market forces where they don’t belong.

Review: Fictional financiers remain elusive

30 Mar 2012

Despite the crash, recent novels have produced few memorable investment bankers. Roger Yount, the anti-hero of John Lanchester’s “Capital”, might have been an exception. Sadly, his tale is lost in the sprawling novel’s attempt to capture a cross-section of London.

James Murdoch stuck in limbo

6 Sep 2011

Serious questions still dog the News Corp exec after the latest UK parliamentary hearings into phone hacking. But challenges from two of his former staff lack decisive proof. Murdoch’s articulate and sure manner, and the fact he’s up second, give him an advantage.

Bloomberg LP spares no expense on first big deal

25 Aug 2011

The New York mayor’s financial information company is paying $1 bln for legal publisher BNA. At 36 times earnings, no public company could reasonably compete. But the price also reflects Bloomberg’s ardor to expand its influence and build a cushion against Wall Street.

BSkyB reminds News Corp just what it missed out on

29 Jul 2011

Surging cash flows show the UK broadcaster reaping the rewards of heavy investment, and allow it to embark on a big share buyback. The results are a reminder of why partowner News Corp was so keen on a buyout and the heavy financial costs of its hacking scandal.

James Murdoch should take a break from News Corp

12 Jul 2011

The heir apparent to father Rupert's media empire has lost authority. It may not be his fault. Underlings seem to have let him down. His father undermined him by backing Rebekah Brooks, who reports to James. The best way Murdoch jnr can regain control of his destiny is to resign.

Murdoch’s UK crisis could bring big indirect costs

6 Jul 2011

The direct costs of the phone hacking scandal at News Corp's UK Sunday tabloid should be manageable for the US media group. Much bigger worries centre on the implications for its bid for BSkyB and the danger that the Murdoch discount on the New York listed shares will widen.

John Malone gets good read on Barnes & Noble

20 May 2011

Unlike the hamfisted takeover attempts by Ron Burkle and Bill Ackman, the cable pioneer's strategy and timing look smart. There's a premium for shareholders and an olive branch to company architect Len Riggio. Yet it's not obvious what Malone sees in the bookseller.

New York Times prices digital to keep print alive

17 Mar 2011

The Gray Lady finally has a digital subscription plan. Web news junkies will pay $15$35 a month, but access is included with the dead tree edition. Online is still cheaper but not enough to cost the newspaper committed hardcopy subscribers and the ad revenue they bring.

Murdoch shines a light on succession plans

21 Feb 2011

Rupert Murdoch's News Corp is paying a full price $663 mln for Shine, the TV firm founded by his daughter Elisabeth. Minority shareholders may sigh. But with Elisabeth among the candidates to succeed her father, the deal may be beneficial for the overall succession process.

Old U.S. media firms storming back with new life

7 Feb 2011

Amid the hoopla surrounding Rupert Murdoch's launch of a nextgeneration iPadbased publication last week, oldfashioned television and magazines put up some impressive numbers. The Daily may represent the future of media, but financially speaking that day looks some ways off.

Murdoch and the UK: the questions mount

21 Jan 2011

The UK government's top spin doctor has quit amid controversy surrounding the Murdoch paper he once edited. The twist may not alter the course of Murdoch's bid for broadcaster BSkyB. But it doesn't help the media mogul. Nor will it end questions about his links with Downing St.

Britain should be wary of Murdoch’s remedies

12 Jan 2011

News Corp may offer to dispose of assets or protect editorial integrity to help win approval for its BSkyB bid. But selling UK newspapers or Sky News would be problematic. And history shows that Murdoch's promises not to interfere aren't worth the paper they're written on.

Playboy, like Hef’s sex life, better off private

10 Jan 2011

Some things are best done behind closed doors, including the restructuring of the empire built on Hugh Hefner s nudie magazine. Playboy may be iconic, but its future is bleak. So while Hef is still getting his way with a lowball bid, shareholders might as well cash out and run.

Bookseller activists should pen an end to the saga

6 Jan 2011

Beleaguered Borders can t pay its bills and wants help from publishers. That would buy time for Bill Ackman, who last month offered to finance a Borders takeover of rival Barnes & Noble, where Ron Burkle is still agitating. It s time for both investors to put up or shut up.

Phone hacking mess puts yet more heat on Murdoch

6 Jan 2011

The suspension of a senior journalist at the News Corpowned tabloid undermines its claim that the scandal was the work of a rogue reporter. As the UK government considers whether to allow the media mogul to take control of BSkyB, the latest twist adds to the toxic political mix.

BP’s PR sludge keeps flowing with new book

23 Nov 2010

The oil giant may have felt the PR tide was turning in its favor. Probes into its Gulf spill have so far found no direct proof that BP costcutting caused the disaster. But the reprieve may be cut short by Houston Chronicle writer Loren Steffy s deeply critical history.

Print is dead – long live old media

12 Nov 2010

The business model of print magazines and newspapers is no longer enviable. But old media s outsized impact and credibility still carry huge value. The Daily BeastNewsweek merger highlights the point. It s not just a case of old fogeys nostalgic for newsprint.

Bush still shows blind eye for financial crisis

10 Nov 2010

Even with a couple of years hindsight, the former U.S. president in his memoir shows a poor understanding and offers little insight about why the financial system nearly collapsed. But his unshaken faith in tax cuts sheds light on his renewed party s fiscal priorities.

New York Times smartly joins refinancing fiesta

1 Nov 2010

The newspaper publisher will pay only 6.6 pct on the $225 million of debt sold Monday. A good chunk should help repay Carlos Slim Helu the Mexican billionaire who lent $250 million at 14 pct when no one else would. Still, the Times has already paid plenty for the favor.