US - Industry summary

Liberty Media to make Sirius XM a wholly owned unit

(Reuters) - John Malone-owned Liberty Media Corp said it would make satellite radio provider Sirius XM Holdings Inc a wholly owned unit of Liberty. In January 2013, Liberty Media became Sirius's majority owner after U.S. regulators gave it the green light to take control of the satellite radio operator.

China's oddball demolition king eyes the New York Times

BEIJING (Reuters) - Chen Guangbiao has never acquired a company. The 45-year-old recycling magnate has also never worked in the media industry or become proficient in English.

21st Century Fox sells Star China TV stake

(Reuters) - 21st Century Fox said on Thursday it would sell its 47 percent stake in Star China TV to the TV channel operator's management and private equity fund China Media Capital. Star China TV, formed in 2010 and majority owned by China Media Capital, operates Mandarin channels such as Xing Kong, Xing Kong International and Channel V Mainland China.

Labor Department needs to improve how it releases data: panel

WASHINGTON (Reuters) - The U.S. Labor Department should either tighten the procedures that it uses to release market-sensitive data to the media or scrap them altogether and distribute the data directly to the public, a watchdog for the department said on Thursday. The recommendation to tighten the so-called lockup process, specifically the department's weekly jobless claims figures, was included in an audit released by the Labor Department's Office of Inspector General. The panel was reviewing the process in an effort to prevent the possibility that some investors could have an unfair competitive advantage in buying and selling stocks, bonds and other trading assets.

AllThingsD editors launch "Re/code" venture with NBCUniversal backing

SAN FRANCISCO (Reuters) - Veteran technology journalists Walt Mossberg and Kara Swisher have unveiled "Re/code," a technology news site and conference business to succeed AllThingsD which they founded and built into a premier tech media brand within News Corp. Mossberg and Swisher, who agreed in September to sever a 10-year relationship with News Corp, said on Thursday their new venture will be backed by Comcast's NBCUniversal and Windsor Media, the investment company headed by former Yahoo! Inc Chief Executive Terry Semel.

Britain's Channel 5 owner exploring possible sale: FT

(Reuters) - The owner of Britain's free-to-air Channel 5 is exploring a possible sale of the TV broadcaster, the Financial Times reported, citing two people familiar with the situation. Barclays is advising on options for the television network, while the sale is expected to raise about 700 million pounds ($1.16 billion), according to the newspaper.

Egypt's top prosecutor detains Al Jazeera journalists for 15 days

CAIRO (Reuters) - Egypt's general prosecutor on Tuesday detained several journalists for 15 days for broadcasting graphics on the Qatar-based Al Jazeera channel that damaged the country's reputation. Al Jazeera's Cairo offices have been closed since July 3 when they were raided by security forces hours after the army ousted the Muslim Brotherhood's Mohamed Mursi from the presidency.

Netflix hikes CEO salary by 50 percent for 2014

(Reuters) - Netflix Inc raised the salary of its Chief Executive Reed Hastings by 50 percent to $6 million for 2014, a regulatory filing showed, as its stock quadrupled in value this year amidst new programming and a growth in subscriber base. Hastings will receive $3 million each in cash and stock options for the year, according to the filing with the U.S. Securities and Exchange Commission made late on Monday.

Time Warner Cable, Viacom renew distribution agreement

(Reuters) - Time Warner Cable Inc said it had renewed its distribution agreement with Viacom Inc, whose channels include MTV, Comedy Central and Nickelodeon. The long-term deal, terms for which were not disclosed, included allowing Time Warner to distribute all of Viacom's channels in its tablet apps, as well as its cable TV network.

Disney cuts CEO pay, adds Twitter co-founder to board

(Reuters) - Walt Disney Co has slashed Chief Executive Bob Iger's fiscal 2013 compensation by 15 percent with a bonus cut, and named Twitter Inc co-founder Jack Dorsey an independent board director. Dorsey, widely credited with creating Twitter alongside fellow co-founders like Ev Williams, Biz Stone andNoah Glass, will stand for election at Disney's March 18 annual meeting, Disney said in a statement on