Comcast adds video subscribers, beats Street
(Reuters) - Comcast Corp, the largest U.S. cable operator, posted higher first-quarter revenue and net income on Tuesday and showed it could add video subscribers for two quarters in a row, a rare occurrence in the cable industry. The company, whose shares closed 2 percent higher, said it added 24,000 net video subscribers in the first quarter. That surprised analysts who expected a loss of 26,000 net subscribers, according to StreetAccount. Last year's fourth quarter marked Comcast's first upswing in cable video subscribers in more than six years.
U.S. justices show little support for Aereo TV in copyright fight
WASHINGTON (Reuters) - U.S. Supreme Court justices appeared skeptical on Tuesday about online TV service Aereo Inc's position in a copyright dispute with major broadcasters, but several raised concerns about how a ruling against the startup could affect cloud computing services. The case is important to the future of television, for media companies and consumers alike, in part because a win for Aereo could spur innovation in the industry by paving the way to new, cheaper ways for consumers to watch shows. It could also threaten the estimated $3 billion in so-called retransmission fees that broadcasters get from cable and satellite TV systems.
Time Warner names board members for Time Inc
(Reuters) - Time Warner Inc named directors, including former Sony Corp CEO Howard Stringer, to the board of Time Inc, the publishing business it plans to spin off in the second quarter of 2014. The media company named current Time Inc CEO Joseph Ripp as chairman of the board.
Disney sees operating income growth at cable networks
LOS ANGELES (Reuters) - Walt Disney Co's cable networks are expected to record high single-digit growth in operating income and domestic affiliate revenue from fiscal 2014 through 2016, Chief Financial Officer Jay Rasulo told investors on Thursday. "We feel very good about the long-term growth of our cable business," Rasulo said at a meeting for investors at its the company's ESPN headquarters in Bristol, Connecticut.
Echo of 1984 Betamax landmark in U.S. high court Aereo TV fight
WASHINGTON/NEW YORK (Reuters) - When the U.S. Supreme Court hears a one-hour oral argument in Washington, D.C., on Tuesday, it will not be the first time the court's nine justices will have the final say over the fate of a new TV viewing technology. Thirty years ago, the big media companies went to the high court to block Sony Corp's Betamax video recorder. This time, their lawyers are lined up against Aereo Inc, a two-year-old service that streams TV channels online.
Orange Capital urges Pinnacle Entertainment to spin off real estate
(Reuters) - Pinnacle Entertainment Inc shareholder Orange Capital LLC said it had asked the casino operator to consider spinning off its real estate into a separately traded real estate investment trust. Pinnacle's shares rose as much as 9 percent in afternoon trading on the New York Stock Exchange.
Barnes & Noble chairman cuts stake in company again
(Reuters) - Barnes & Noble Inc Chairman Leonard Riggio, the bookseller's founder and largest shareholder, cut his stake in the company to 20 percent by selling shares worth about $64 million. Barnes & Noble's shares fell as much as 10 percent to $16.80 in early trading on Thursday.
China, Europe recovery boosts Publicis first-quarter sales
PARIS (Reuters) - Advertising agency Publicis, which is merging with larger rival Omnicom, achieved 3.3 percent revenue growth on a comparable basis in the first quarter, helped by strong digital sales and an uptick in China and Europe. Publicis, the first major ad group to post results for the period, said revenue was 1.6 billion euros ($2.21 billion). The average estimate of analysts was 1.62 billion and organic growth of 3 percent, according to company-provided figures.
CBS Corp gets favorable REIT ruling for Outdoor unit from IRS
(Reuters) - CBS Corp said on Wednesday that the Internal Revenue Service gave a favorable ruling to the company's plan to convert its outdoor advertising subsidiary, CBS Outdoor Americas Inc, into a real-estate investment trust (REIT). Media conglomerate CBS holds an 81 percent stake in CBS Outdoor, which went public in late March.
James Murdoch joins board of ad platform company
(Reuters) - James Murdoch, the co-chief operating officer of 21 Century Fox, is joining the board of digital advertising platform company True(X) Media, the company said on Thursday. Additionally, former Microsoft chief marketing officer Mich Mathews and former News Corp executive Jonathan Miller were also named directors rounding out the board to nine members.- Reuters
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