Sinclair Prepares To Sell 23 TV Stations In Search Of Tribune Deal OK

Sinclair Broadcast Group, whose $3.9 billion offer for Tribune Media remains in the hands of regulators after a stormy 11 months of deliberation, has finalized plans to sell 23 local TV stations in 18 markets.
The move is a major step, though not unexp…

Sinclair Broadcast Group, whose $3.9 billion offer for Tribune Media remains in the hands of regulators after a stormy 11 months of deliberation, has finalized plans to sell 23 local TV stations in 18 markets. The move is a major step, though not unexpected since the local TV giant had indicated its road map in a filing in February. Buyers of the stations, which operate in a range of cities including New York, Chicago, Houston and Miami, include Standard Media and…

Verizon Posts 32% Gain In Quarterly Profit Q1, Helped By Tax Reform

Telecom giant Verizon said its first-quarter net income rose 32% to $4.55 billion, or $1.11 a share, in the first quarter thanks in part to benefits from federal tax reform.
The results compared with $3.45 billion, or 85 cents per share, a year earlier…

Telecom giant Verizon said its first-quarter net income rose 32% to $4.55 billion, or $1.11 a share, in the first quarter thanks in part to benefits from federal tax reform. The results compared with $3.45 billion, or 85 cents per share, a year earlier. Total revenue in the period rose nearly 7% to $31.8 billion. In Verizon's media business, Oath, a seasonal decrease in display advertising caused gross revenue to decrease 13% from the fourth quarter (the best comparison…

Aviron Capital Backs Interactive Movie App Developer Kino Industries

Asset management company Aviron Capital, private company led by a consortium of financiers with funding primarily provided by BlackRock, has acquired a substantial equity stake in Kino Industries.
Kino is the developer of CtrlMovie, an interactive movi…

Asset management company Aviron Capital, private company led by a consortium of financiers with funding primarily provided by BlackRock, has acquired a substantial equity stake in Kino Industries. Kino is the developer of CtrlMovie, an interactive movie experience enabling audiences to control the direction of a film’s narrative via a smartphone app. No financial details of the investment were disclosed. The CtrlMovie app lets viewers vote to decide what characters will…

Netflix Announces Plan To Raise $1.5B In Debt, Discloses 2017 Exec Pay

In filings with the SEC this morning, Netflix disclosed compensation for its top exec team and said it plans to raise $1.5 billion in debt to fund its operations.
Ted Sarandos, chief content officer and architect of the company’s heavy-spending p…

In filings with the SEC this morning, Netflix disclosed compensation for its top exec team and said it plans to raise $1.5 billion in debt to fund its operations. Ted Sarandos, chief content officer and architect of the company’s heavy-spending programming strategy, made $22.4 million in 2017, up 18% from the $18.9 million he collected in 2016. CEO Reed Hastings saw a more modest increase of 5% to $24.4 million. The next highest-paid exec was Neil Hunt, who is no longer…

Tencent Music Explores Anticipated Huge IPO For Its Streaming Music Service

China’s largest music streaming company, Tencent Music Entertainment Group, is poised to create an initial public offering (IPO) and is negotiating with several banks for underwriting.
The Wall Street Journal reported that the successful debut of…

China’s largest music streaming company, Tencent Music Entertainment Group, is poised to create an initial public offering (IPO) and is negotiating with several banks for underwriting. The Wall Street Journal reported that the successful debut of Spotify Technology SA is the motivator for Tencent. If all goes as planned, the IPO would bow in the second half of 2018 and is anticipated to be one of the largest of the year. The IPO would likely be listed in the US, but…

Earnings Season Puts Spotlight On Viacom, Facebook, Comcast And More

Public companies have a particular cadence to their shareholder-oriented existence. Every quarter, they must report financial results and, except in rare cases, most also face the Wall Street music on conference calls with analysts.
That ritual, which …

Public companies have a particular cadence to their shareholder-oriented existence. Every quarter, they must report financial results and, except in rare cases, most also face the Wall Street music on conference calls with analysts. That ritual, which is revving up again for the spring season, can mean less-than-ideal timing for press-weary (and -wary) execs. The week ahead offers a full slate of such moments for media and tech companies who have been making a lot of news…

AT&T Boss Defends Time Warner Against “Absurd” Government Claims

AT&T CEO Randall Stephenson took the witness stand this afternoon, appearing in a Washington federal court as the final defense witness in the five-week antitrust trial over the mobile giant’s pending merger with Time Warner.
Ridiculing the D…

AT&T CEO Randall Stephenson took the witness stand this afternoon, appearing in a Washington federal court as the final defense witness in the five-week antitrust trial over the mobile giant’s pending merger with Time Warner. Ridiculing the Department of Justice complaints as “absurd,” the bespectacled 58-year-old architect of the deal defended it as a necessary measure by two traditional companies facing unprecedented competition from tech rivals. By joining forces, he…