US INDUSTRY Summary

Fox seen selling CNN rather than spinning off despite tax bill

NEW YORK (Reuters) - If Twenty-First Century Fox succeeds in buying Time Warner Inc, it's likely to sell CNN and pay billions of dollars in taxes rather than go through the headaches of spinning the cable news channel off to shareholders of the merged company, according to people familiar with the matter.

BSkyB to pay $9 billion to create Sky Europe

LONDON/PARIS (Reuters) - Britain's BSkyB has agreed to pay $9 billion to buy the Rupert Murdoch's pay-TV companies in Germany and Italy, taking its hunt for growth into Europe by creating a media powerhouse with 20 million customers.

Murdoch's Fox vows to be 'disciplined' on deals, extend buybacks

NEW YORK/LONDON (Reuters) - Rupert Murdoch's Twenty-First Century Fox Inc said on Friday it would only consider deals that are "disciplined" and increase shareholder value, a move analysts said signalled the media company does not want to overpay for takeover target Time Warner .

Liberty Media plans stock dividend to spin off cable assets

(Reuters) - John Malone's Liberty Media Corp started the process of spinning off its cable assets through a stock dividend to its shareholders to form a new listed company called Liberty Broadband.

Tax credit shortfall costs California TV, movie production revenues

SAN FRANCISCO (Reuters) - A growing number of TV series and film crews have left California in search of tax credits elsewhere, causing $2 billion in revenue losses over the past four years to a state that is home to Hollywood and the U.S. production industry, a report said on Thursday.   

Liberty Global offers to sell pay TV channel for Ziggo deal: source

U.S. cable group Liberty Global has offered to sell its pay TV channel Film1 in an attempt to win EU antitrust approval for its proposed acquisition of Dutch rival Ziggo , a person familiar with the matter said on Thursday.

Pandora Media profit forecast below analysts' estimates, shares fall

Pandora Media Inc forecast current quarter adjusted profit below analysts' estimates as it plans to plow money back into the business. The company's shares fell about 6 percent in extended trading.

Ex-Murdoch reporter escapes jail over UK phone-hacking crimes

A former tabloid reporter who admitted hacking hundreds of phones to find stories for two Sunday newspapers was spared jail on Thursday for helping secure the conviction of Prime Minister David Cameron's ex-media chief Andy Coulson.

Radio station operator Townsquare Media shares fall in market debut

Shares of radio station operator Townsquare Media LLC fell as much as 7 percent in their market debut, valuing the company at about $172 million.

Daily Mail publisher's underlying revenue up 3 percent in third quarter

Daily Mail and General Trust, the publisher of the Daily Mail tabloid and Mail Online website, said underlying revenue grew 3 percent in the third quarter after a strong performance from its events and business information units.- Reuters