Tag Archives: News Corp

Report: NBC recaptures NASCAR coverage through 2024

By Brandon Turkus

NASCAR Sprint Cup Race at Bristol Motor Speedway

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NASCAR has pared its broadcasts down to two providers – Fox and NBC. According to a report from USA Today, the recently inked deal will give the Peacock Network exclusive rights to the last 20 Sprint Cup races, the last 19 Nationwide races, all K&N and Whelen Modified races, the NASCAR Toyota Mexico series, Hall of Fame and banquet ceremonies, live-streams for both Sprint Cup and Nationwide races, and Spanish broadcasting rights on Telemundo and Mun2. Got all that?

The deal is in effect until 2024, but won’t officially kick off until the 2015 season, when NBC and Fox will begin sharing in earnest. The two networks are likely to air some of the races on the NBC Sports network and Fox Sports 1 (which replaces Speed TV), respectively.

Financial details have not been revealed for the NBC deal yet. Fox and NASCAR’s tie-up, which was renewed last fall, was valued at $2.4 billion, and gets the News Corp-owned network broadcast rights for the Daytona 500, 12 Sprint Cup races, practicing and qualifying, and the Camping World Truck Series.

The network shift will see ABC/ESPN and Turner Broadcasting end their NASCAR programming with the 2014 season.

NBC recaptures NASCAR coverage through 2024 originally appeared on Autoblog on Wed, 24 Jul 2013 14:01:00 EST. Please see our terms for use of feeds.

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Source: FULL ARTICLE at Autoblog

Murdoch says phone-hacking probes taking too long

Media tycoon Rupert Murdoch has questioned the “sense of proportion” and time taken by police investigating phone-hacking claims in a letter to MPs.

He retracted accusations made on a secret tape recording that police were “totally incompetent” but said the length of time police were taking between arresting and charging suspects had led to suicide attempts.

Murdoch was responding to a request from Home Affairs Select Committee chairman Keith Vaz to explain the recorded comments, which he believed he was making in private to journalists from his Sun newspaper.

“I accept that I used the wrong adjectives to voice my frustration over the course of the police investigation,” wrote the 82-year-old businessman in a letter.

“I am in no position to judge the competence of the investigation and should never have done so.”

But he later criticised the manpower and time being consumed by investigations into behaviour at his News International titles.

“My own lay view is that it has been more than thorough, indeed it has in some respects appeared to be excessive,” he argued.

“My own personal view is that this has gone on too long.

“I cannot endorse the judgement that the investigation has ‘progressed’ very well, not when some of our employees were arrested early in the investigation in 2012 and their families are still in limbo”.

Murdoch said that the stress on families had led to “suicide attempts and medical conditions”.

Vaz welcomed Murdoch’s “acceptance that he used the wrong words to describe the police investigation and his explanation of why he did so.”

“I am glad that he has confirmed he does not think the police investigations are incompetent,” he added.

He also echoed Murdoch’s fears about the cost of the investigation, which so far stands at ??20.3million ($30.9 million, 23.5 million euros).

On the recording, the tycoon appears to call the probes into phone hacking and bribery by his journalists a “disgrace”.

He was speaking in March at a meeting with journalists at his top-selling British tabloid The Sun, where he also appeared to suggest that reporters jailed as a result of the probe could get their jobs back.

According to the tape obtained by the Exaro investigative website and released by Channel 4 news, Murdoch said his News Corporation made a “mistake” in handing over so much information to police.

Murdoch shut down his top-selling News of the World tabloid in July 2011 after it emerged the weekly had illegally accessed the voicemails of hundreds of public figures, including murdered teenager Milly Dowler.

Hauled before British MPs to explain himself over the scandal, Murdoch apologised and said “this is the most humble day of my life”.

But in the meeting this year, which was apparently secretly recorded by one of his own journalists, Murdoch was defiant, railing against the ongoing police investigations into hacking and the alleged bribery of public officials.

He has divided New York-based News Corp since the hacking scandal into two companies separating the television and film business and the newspaper and publishing arm.

…read more

Source: FULL ARTICLE at Fox World News

Disney and the Devil: Together at Last

By Tim Beyers, The Motley Fool

Source: Marvel database at Wikia.

How will Disney depict Daredevil? The comics contain dozens of rich storylines that could inform a script, but knowing Hollywood, a reboot seems most likely. For now, Feige will only confirm that Disney owns the rights, which is a step in the right direction given history.

Big parts of the Marvel Universe

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Slowly, Walt Disney is reuniting Marvel heroes under one roof. The latest to rejoin? Daredevil, a blind vigilante whose other senses are enhanced to a superhuman degree. Ben Affleck played the title character in a 2003 feature film that failed to meet heightened expectations.

Newsarama confirmed the shift in an interview with Marvel Studios President of Production Kevin Feige earlier this week.

Efforts to reboot the franchise in later years failed for unspecified reasons. Finally, in October, News Corp.‘s 21st Century Fox returned the rights to Marvel Studios when a deal with would-be director Joe Carnahan fell through.

Here’s a closer look at what might have been:

Sources: Joe Carnahan, YouTube.

Now Disney is in control, and that’s good news for shareholders who’ve seen what Marvel can do when it has creative control of its own properties. I’d love to see Carnahan make a noir film starring Daredevil — something reminiscent of how writer-artist Frank Miller reinvented the character in the 1980s.

Miller gave DD a sharper edge. He also introduced the assassin Elektra as a love interest, subsequently played by Jennifer Garner in the 2003 film and a 2005 spinoff that bombed at the box office. The failures apparently made Fox executives gun-shy despite the source material.

Source: Marvel database at Wikia.

How will Disney depict Daredevil? The comics contain dozens of rich storylines that could inform a script, but knowing Hollywood, a reboot seems most likely. For now, Feige will only confirm that Disney owns the rights, which is a step in the right direction given history.

Big parts of the Marvel Universe remain in outside hands. For example, Fox still has comprehensive film rights to the mutant heroes known as the X-Men as well as the Fantastic Four, a superhero family that’s seen action twice on the big screen in recent years while helping to inspire the Pixar Studios hit The Incredibles.

Sony , meanwhile, controls the rights to live-action Spider-Man films. The Amazing Spider-Man 2 is filming now and due in U.S. theaters on May 2, 2014.

Daredevil isn’t big enough to fill the void left by the X-Men, Spidey, and the FF. But then again, neither was Iron Man in 2008. Robert Downey Jr. has since made that character bigger than both Batman and Superman when it comes to big-screen earnings.

Does Disney have what it takes to transform Daredevil similarly? Finally, we’ll get to find out.

With great power comes great profits
Even without Marvel at full strength, Disney shows all the signs of a powerhouse stock worth buying and holding forever. Want more ideas? These three Dow stocks, like Disney, pay sustainable dividends and are well positioned for the long haul. Click here to see why our analysts say to buy now – their research is 100% free so get your copy today.

The article Disney and the Devil: Together at Last originally appeared on Fool.com.

Source: FULL ARTICLE at DailyFinance

Here's How Fox Could Make Billions By Ditching Broadcasting

By Jeff Bercovici, Forbes Staff

Throughout the television industry, News Corp. COO Chase Carey’s threat to pull the Fox network off the broadcast airwaves unless it wins its lawsuit against Aereo was greeted by a healthy amount of skepticism. Why would a network voluntarily give up invaluable spectrum and distribution that could cost it hundreds of millions of dollars in advertising revenues?

From: http://www.forbes.com/sites/jeffbercovici/2013/04/18/heres-how-fox-could-make-billions-by-ditching-broadcasting/

Aereo CEO Say Fox's Threat Would 'Disenfranchise' 54 Million People

By Jeff Bercovici, Forbes Staff

With the threat by News Corp. COO Chase Carey to pull the Fox network off the airwaves and turn it into a cable network, the  case of American Broadcasting Companies et. al v. Aereo officially spilled over from the law courts into the court of public opinion. Aereo CEO Chet Kanojia knows that, and he’s prepared to play to a jury of millions.

From: http://www.forbes.com/sites/jeffbercovici/2013/04/17/aereo-ceo-say-foxs-threat-would-disenfranchise-54-million-people/

U.S. Revives Media Probe Into Handling Of Economic Data

By The Huffington Post News Editors

WASHINGTON, April 10 (Reuters) – U.S. law enforcement officials have reversed a decision to wind down an investigation into how news agencies handle the release of economic data to investors, concerned some sensitive information may have leaked into financial markets, a person familiar with the probe said on Wednesday.
The Wall Street Journal reported earlier on Wednesday that Thomson Reuters Corp, the parent of Reuters News, Bloomberg LP and Dow Jones & Co., a unit of News Corp, were among the media companies under investigation.
The source who spoke to Reuters declined to provide details.
Reuters and the Wall Street Journal reported in January that law enforcement authorities had conducted an investigation into whether media companies facilitated insider trading by prematurely releasing market-sensitive data, but decided not to bring charges.
Media organizations are provided sensitive economic data during “lockups” in which they are not supposed to transmit any information until a set embargo time has lifted.
The Wall Street Journal reported on Wednesday that the FBI had been frustrated the Commodity Futures Trading Commission had not provided data sought by investigators. Citing officials familiar with the probe, it said the CFTC had since agreed to provide trading data and analysis to help the investigation.
“We are not aware of a current investigation nor any embargo violations,” said Ty Trippet, a spokesman for Bloomberg LP. A spokeswoman for Dow Jones, Paul Keve, said the government had not contacted Dow Jones about any criminal investigation. Thomson Reuters spokesman David Girardin declined to comment.
The FBI and CFTC did not immediately respond to requests for comment, while the SEC declined to comment.

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Source: FULL ARTICLE at Huffington Post

Let's Not Rely on This Outdated Metric

By Dan Newman, The Motley Fool

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We live in the Information Age, but do our economic indicators? Does GDP capture the outputs of every new technology, especially when so many new technologies seemingly charge nothing for their use? And how does paying attention to GDP over other measures affect economics, policy, and society? 

A closer look is needed.

Hidden value
GDP has long ignored many value-creating activities like parenting. Such a value, though, is likely to be relatively constant over centuries. But recently, as more value arises from computers, the Internet, and information proliferation, GDP may not be measuring a huge economic shift. Take a look at the make-up of GDP over the period in which the Internet and computer use became mainstream:

Source: Bureau of Economic Analysis.

The percentage of GDP added by information, communications, and technology-producing industries has remained remarkably constant, hovering around 4%. This, while the number of Internet users increased from 36% of the population to nearly 80% — while our society transitioned from yearbooks to Facebook, newspapers to iPads, and mail to Gmail. This is the “Clothesline Paradox,” explained well by Tim O’Reilly:

You put your clothes in the dryer, and the energy you use gets measured and counted. You hang your clothes on the clothesline, and it “disappears” from the economy. It struck me that there are a lot of things that we’re dealing with on the Internet that are subject to the Clothesline Paradox. Value is created, but it’s not measured and counted. It’s captured somewhere else in the economy.

O’Reilly argues that GDP is good at measuring value capture instead of value creation. As an example, take Japan. Since 1989 the country has averaged GDP growth of 1%, which earned the intervening era the nickname “the lost decades.” But even though GDP was slow to grow, life expectancy and trade increased — along with, arguably, the overall quality of life in the country. While Japan‘s GDP demonstrates a slightly-better-than-stagnant economy, plenty of other measures paint a different picture.

Capturing versus creating
Those companies that have captured some of the value of the Information Age have performed spectacularly. Companies that have failed to transition are fighting to hold on to traditional revenue streams, and GDP might become distorted as a result. Look at News Corp. , which recently threatened to pull its over-the-air broadcasts and move to cable because of a start-up, Aereo, that captures its broadcast with small antennas and streams the content wherever a user might be. News Corp. typically captures value through fees for rebroadcasting its content, but Aereo disrupts that revenue stream, and although News Corp. still creates the content, Aereo collects the value. The measured GDP value of those rebroadcasting fees disappears and may not be totally recaptured or built upon by Aereo, because Aereo gives away a limited version of its service for free.

Former executive Irving Wladawsky-Berger writes on another example of creating value versus capturing value internally at IBM :

The bulk of the value of

Source: FULL ARTICLE at DailyFinance

Why The Networks' Threat to Stop Broadcasting Is Worth Taking Seriously

By Jeff Bercovici, Forbes Staff

By law and custom, top executives at big public companies are pretty cautious in what they say about their own firms. So when someone like News Corp. COO Chase Carey says the Fox network might stop broadcasting its free over-the-air signal to get around the threat posed by Aereo — and when Univision chairman Haim Saban says the same — it’s worthy paying attention.

Source: FULL ARTICLE at Forbes Latest

Fox: Lawsuit Could Force Us to Go Subscription-Only

By Matt Cantor Fox is in the midst of a lawsuit over rights to its over-the-air programming—and if it loses, its broadcast network could turn to a subscription model, News Corp‘s president says. At issue is a lawsuit against Aereo, which offers broadcast TV on digital devices, Mashable reports. “Aereo is stealing… …read more

Source: FULL ARTICLE at Newser – Home

"Evil Dead" Tops Weekend Box Office

By Dan Carroll, The Motley Fool

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In its debut weekend, Sony‘s horror film Evil Dead ranked as the top-grossing film at the domestic box office with sales of $26 million.

The movie, a reboot of the classic Evil Dead franchise, pulled in an additional $4.5 million internationally to record more than $30 million in sales in its first weekend in theaters, according to data from media measurement firm Rentrak.

The film managed to beat out stiff competition for the top domestic spot. Action film G.I. Joe: Retaliation, distributed by Viacom subsidiary Paramount Pictures, tied for second domestically with the animated film The Croods; each film recorded $21.1 million in weekend revenues. It was The Croods‘ third week and G.I. Joe‘s second.

G.I. Joe topped the worldwide box office this past weekend, recording more than $61 million across the globe, while The Croods, distributed by News Corp. subsidiary 20th Century Fox, managed a close second worldwide with $55 million in sales.

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The article “Evil Dead” Tops Weekend Box Office originally appeared on Fool.com.

Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance

Video: Obama Linked To Satanic Cult?

By Kris Zane

Most of us fell out of our chairs while watching the mega-hit TV miniseries The Bible when the character portrayed as Satan looked almost exactly like Barack Hussein Obama.

Glenn Beck immediately tweeted out the resemblance, and Rush Limbaugh jumped on the bandwagon the next day.

It was creepy to say the least; and it was reported the Obama administration was in hysterics, with something like fifty million people seeing that particular episode.

Of course, no one honestly thinks Obama is Satan; but the apple does not fall far from the tree.

Last week, the hacker known as Guccifer released a March 21, 2012 email hacked from the account of Colin Powell, an email sent from Andrew Knight, former director of Rupert Murdoch’s media empire News Corp and now working for the Rothchild banking conglomerate. In the email, Knight urges Powell to encourage Tony Blair, the former Prime Minister of the United Kingdom, to attend the playground of the elite, the Bohemian Grove—long known to take part in an occult ceremony called the Cremation of Care, where members wearing red-hooded robes cremate a coffin effigy at the base of an idol they call Moloch. Conspiracy theorist giant Alex Jones infiltrated the Bohemian Grove in 2000 and videotaped the ceremony, where a mock human sacrifice was offered to a god known as Moloch.

Of course, this is the exact kind of ceremony that Satanists take part in, substituting Moloch for Satan himself.

The Bohemian Grove has been called the American version of the Bilderberg Group, a secret gathering of the rich and powerful to decide how the world will be run. The June 2008 Bilderberg meeting at the Westfields Marriott hotel in Chantilly, Virginia was secretly attended by Democratic rivals Barack Obama and Hillary Clinton. Mysteriously—or not so mysteriously—Clinton shortly thereafter dropped out of the race, obviously Barack Obama being the candidate of the globalists. And if you look very carefully at the mainstream media coverage shortly after the Bilderberg meeting that began on June 6, almost to the day, the mainstream media switched from supporting Clinton to Obama. For example, Politifact, the go-to source for hit jobs on political opponents, ran a smear piece June 3 comparing Obama to Bush. On June 12, Obama released his so-called short-form birth certificate, which was immediately deemed a fraud. But who do you think began defending Obama almost to the day after the Bilderberg meeting? Politifact.  For example, on June 13, Politifact began running articles backing Obama’s phony birth certificate and continued to belch out a stream of articles defending Obama on every front.

The Bohemian Grove is a much different breed than its Bilderberg cousin, held in Monte Rio, California a month after the Bilderberg soirée. Only males are admitted, with reports of male prostitutes that “service” the attendees.

The Cremation of Care ritual always takes place—and guess who was rumored to be there? Barack Hussein Obama—although the black hood portrayed in The Bible …read more
Source: FULL ARTICLE at Western Journalism

5 Compliance Lessons from the News Corp Scandal

By Alexandra Wrage, Contributor

For a company once known more for writing the tabloids in Britain than featuring in them, News Corp. now finds itself in the awkward position of having its name splashed across headlines in the UK.  Troubles began for the media conglomerate owned by billionaire Rupert Murdoch two years ago after it was uncovered that one of the company’s most successful newspapers, News of the World, hacked the mobile phone of a murdered school girl.  Since then, allegations continue to emerge that the company routinely bribed UK public officials for information and illegally hacked into mobile phones of celebrities, athletes and politicians, including Members of Parliament. The company has reportedly spent $350 million to date on investigations mounted by UK and US authorities. …read more
Source: FULL ARTICLE at Forbes Latest

Fox Business Network Signs Jo Ling Kent as Business Reporter

By Business Wirevia The Motley Fool

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Fox Business Network Signs Jo Ling Kent as Business Reporter

NEW YORK–(BUSINESS WIRE)– FOX Business Network (FBN) has hired Jo Ling Kent from NBC‘s owned and operated station WVIT (Hartford), announced Kevin Magee, head of the network.

Starting May 1st, Kent will serve as a business reporter for FBN covering breaking financial news and international market moves. She will be based out of FBN‘s headquarters in New York.

In making the announcement Magee said, “Jo is an extremely accomplished reporter. Her experience overseas will help our audience understand international markets and economies.”

While at WVIT, Kent covered local businesses as a general assignment and investigative reporter. Prior to that, she was a campaign embed reporter for NBC News, covering the 2012 presidential race. Before joining NBC, she covered the Chinese economy, human rights, Taiwan trade and environmental issues as an associate producer in CNN’s Beijing bureau. She got her start in television working as a web reporter for ABC News where she covered the Beijing Olympics, 2008 Taiwan elections, unrest in Tibet and the 2008 Sichuan earthquake.

In 2006, Kent founded the Annual International Women’s Day Benefit, an organization dedicated to creating mentoring and education programs for girls in the United States and China. To date, the organization has raised tens of thousands of dollars through fundraising events across the country.

Kent holds two masters degrees in international affairs from both the London School of Economics and Peking University, in addition to a BA from Rice University. She is a U.S. Fulbright Fellow to China, specializing in the effects of legal aid for underprivileged women in the criminal justice system under China‘s preeminent women’s activist lawyers. She originally helms from Minnesota and is fluent in Mandarin.

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York—the business capital of the world—FBN launched in October 2007 under the leadership of FOX News Chairman & CEO Roger Ailes and is now available in more than 60 million homes in major markets across the United States. Owned by News Corp, the network has bureaus in Chicago, Los Angeles, Washington, DC and London. On the web at www.foxbusiness.com

Here's What This 1,022% Gainer Has Been Buying

By Selena Maranjian, The Motley Fool

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Every quarter, many money managers have to disclose what they’ve bought and sold, via “13F” filings. Their latest moves can shine a bright light on smart stock picks.

Today, let’s look at investing giant Daniel Loeb, founder of the Third Point LLC hedge fund. Loeb is a well known activist investor, famous for publicly airing his opinions about companies in which he invests, and not mincing words when he’s displeased. Loeb was instrumental in pointing out discrepancies in former Yahoo! CEO Scott Thompson’s biography – paving the way for Yahoo!’s new CEO, Marissa Mayer.

His activity bears watching, because the guy seems to know a thing or two about investing. According to the folks at GuruFocus.com, over 15 recent years, Loeb racked up a cumulative gain of 1,022%, compared with just 124% for the S&P 500.

The company’s reportable stock portfolio totaled $5.5 billion in value as of December 31, 2012.

Interesting developments
So what does Third Point‘s latest quarterly 13F filing tell us? Here are a few interesting details.

The biggest new holdings are News Corp. and Tesoro. Other new holdings of interest include AbbVie and Herbalife . AbbVie was split off from Abbott Labs, and contains the pharmaceutical business, while Abbott focuses on medical, diagnostic, and nutritional products. AbbVie is saddled with a lot of debt, but it sports about $18 billion in annual revenue, more than $6 billion in free cash flow, and gobs of cash. Bears don’t like its being very dependent on its blockbuster drug Humira, which generates half its revenue. It does have other drugs, though, and more in its pipeline – and a 4.1% dividend yield.

Herbalife , while having the support of Loeb and Carl Icahn,  has some high-profile naysayers, such as David Einhorn of Greenlight Capital, and Bill Ackman of Pershing Square Capital Management. The company recently reported robust results, with revenue in 2012 rising 18% over year-earlier levels. It sports an attractive 3.2% dividend yield, but those worried about red flags raised by critics (such as concerns about its multi-level-marketing strategy) might want to wait for the dust to settle.

Among holdings in which Third Point increased its stake was ARIAD Pharmaceuticals , which received FDA approval for its leukemia drug Iclusig – though its initial sales have been weak, so far. (The drug seems to be nearing approval in Europe, though, which bodes well.) ARIAD‘s bone-tumor drug ridaforolimus was rejected in Europe, but it might still prove effective against other cancers. The company has been spending heavily on research and development, and it needs some more success from its pipeline, as it consumes a lot of cash.

Third Point reduced its stake in companies such as Hillshire Brands , which has been trading near a 52-week high. The company, the result of a split-up of Sara Lee, describes itself as “a leader in meat-centric food solutions for the retail and foodservice markets,” and encompasses brands such as …read more
Source: FULL ARTICLE at DailyFinance

Market Minute: Boom in Earnings for Sonic Drive-In

By DailyFinance Staff

Avery Feek, 4, sips a vanilla milkshake at a Sonic Drive-In restaurant in Normal, Illinois, U.S., on Tuesday, March 20, 2012. Photographer: Daniel Acker/Bloomberg *** Local Caption *** Avery Feek

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Daniel Acker/Bloomberg

Produced by Drew Trachtenberg

​The drive-in restaurant chain Sonic (SONC) says its quarterly earnings nearly doubled from a year ago, even though revenue edged lower. The company says its results were helped by a redesigned menu and an updated marketing campaign. Sonic shares have soared nearly 60 percent over the past year.

Boeing (BA) says its first test flight of the Dreamliner since the entire fleet was grounded back in January went according to plan. Regulators will need to evaluate the data about changes made to the lithium-ion battery before the company can resume commercial flights. Boeing is losing an estimated $50 million dollars a week while the fleet is grounded.

Chipmaker Intel (INTC) is moving closer to launching a pay TV service. Bloomberg reports the company is in talks with Walt Disney (DIS), NBC Universal and Viacom (VIA) to get access to movies and TV shows. The idea is to offer an alternative to established pay TV services.

The online video streaming service Hulu is owned by media giants News Corp. (NWS), Walt Disney and Comcast (CMCSA). And the owners don’t agree on how to manage the company. So, they’re reportedly holding talks with potential buyers. When Hulu was available two year ago, it drew bids from Amazon (AMZN), Google (GOOG), Yahoo (YHOO) and Dish Network (DISH), but there’s no indication at this point if any of them are interested now.

UBS (UBS) has cut its rating on the paper and packaging company MeadWestvaco (MWV) to ‘neutral’. It previously had a ‘buy’ rating on the stock.

And Take-Two (TTWO) Interactive release the third installment in its Bioshock video game series. The company, best-known for its Grand Theft Auto franchise, will release a new version of that game later this year.

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Source: FULL ARTICLE at DailyFinance

Consumer-Facing Stocks Led the Dow Lower

By Matt Thalman, The Motley Fool

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Even though European officials agreed to a bailout for Cyprus, the terms of the agreement raised concerns with investors today. The small island nation will receive 10 billion euros, which will help recapitalize banks there. Well, all but the country’s second-largest bank, which will be shut down. The agreement not only calls for the closure of the bank but depositors with more than 100,000 euros will likely lose a large portion of their money.

The reason a country with a GDP of roughly $22 billion and fewer than 1 million citizens matters is that many fear the bailout model being demonstrated in Cyprus will soon become the model for all European bailouts. That fear could put stress on banks in Spain, Italy, and Greece if citizens begin pulling funds from financial institutions in those countries.  

With all the fear and uncertainty circling the markets today, the Dow Jones Industrial Average closed lower by 64 points, or 0.44%, and now sits at 14,447. The other major indexes performed slightly better as the S&P 500 closed lower by 0.33% and the Nasdaq dropped 0.3% today.

Top Dow losers
Shares of Walt Disney fell 1% this afternoon on the heels of a report that the board of directors of Hulu was looking for a buyer. Disney and News Corp. own the streaming video service, which has more than 3 million paying subscribers and generated $700 million in revenue last year.

Reports indicate that there are several buyers interested, but as we have seen in the past, if the price is not right, Hulu’s board will reject the offer. In 2011, a buyout offer was rejected. The possibility that Disney and News Corp. would each buy the other out has also been floated.  

McDonald’s also ended the day lower by 1.04%. Business Insider reportedly received a copy of an internal memo today, which paints a defensive picture of the burger king. The memo discusses the initial launch of McDonald’s McWrap, and claims that 22% of customers ages 18-32 would likely eat at Subway if McDonald’s didn’t offer the wrap. The company calls the wrap a “subway buster” and claims that the millennial age group wants variety and options. The wrap supposedly will give customers choices and the ability to customize their meal.

But the most shocking and damaging information for investors was that the memo stated that “McDonald’s was not in the top 10 of millennial’s (age 18-32) favorite restaurants.” This is a large demographic and one that McDonald’s needs to attract if it wants to remain the No. 1 fast-food restaurant for the next 10, 20, 50 years.

Johnson & Johnson lost 0.08% today after it announced a recall for its OneTouch Verio IQ blood glucose meters. The LifeScan unit of J & J, which makes and markets the device, said that at extremely high blood glucose levels, the device shuts off and does not give any warning to the user. …read more
Source: FULL ARTICLE at DailyFinance

"The Croods" Tops the Competition at the Weekend Box Office

By Dan Carroll, The Motley Fool

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Animated comedy film The Croods topped box office sales this past weekend by raking in more than $44 million in revenue domestically, a strong showing for its debut weekend.

The Croods, distributed by News Corp. subsidiary 20th Century Fox, also scored the top spot in worldwide sales by pulling in $108 million overall, according to data from media measurement firm Rentrak.

20th Century Fox’s film managed to stop a third straight week at worldwide No. 1 by Disney‘s Oz: The Great and Powerful, which took in the No. 2 spot globally with sales of more than $43 million this past weekend. The film has now earned more than $350 million at the worldwide box office during its run.

The weekend offered mixed results for other films making their theatrical debuts. FilmDistrict’s thriller Olympus Has Fallen ranked second at the domestic weekend box office with sales of more than $30 million in the U.S. However, Focus Features‘ comedy Admission received a lackluster showing over the weekend, earning just over $6.4 million to rank fifth domestically in its debut.

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The article “The Croods” Tops the Competition at the Weekend Box Office originally appeared on Fool.com.

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Rupert Murdoch Attacks David Cameron Over UK Press Regulation

By The Huffington Post News Editors

By Andrew Osborn
LONDON, March 21 (Reuters) – Media mogul Rupert Murdoch sharply criticised British Prime Minister David Cameron on Thursday for agreeing tougher press regulation, saying the new system was a “holy mess” and that Cameron had disappointed his supporters.
Cameron struck a surprise deal on Monday with his junior coalition partners, the Liberal Democrats, and the opposition Labour party, that will allow a new regulator to be set up with the powers to levy large fines on newspapers and oblige them to print prominent apologies where appropriate.
UK holy mess with Internet unworkably included,” Murdoch wrote on social media site Twitter on Thursday. “Cameron showing true colors shocking many supporters.”
The Sun newspaper, which is owned by News Corp, of which Murdoch is the chairman and chief executive officer, also delivered a front-page critique on Thursday of the government‘s annual budget.
“Budget coverage as approved by the Ministry of Truth,” it quipped, referring to the fictional Ministry of Truth in George Orwell’s “1984” novel about a totalitarian state.
Cameron acted to strengthen regulation of the press following public anger over phone hacking by some tabloid newspapers, including Murdoch’s now defunct News of the World, and after a judge-led inquiry showed how widespread it was.
He had previously said he didn’t think it was necessary to enshrine the new system of self-regulation in law, but agreed to allow parliament to approve two amendments as part of a compromise, which he said strengthened the new system, but which press critics said undermined freedom of expression.
The system will be voluntary, but there will be strong financial incentives to encourage news media to opt into it.
Politicians from across the political spectrum backed it as did a group representing victims of newspaper phone hacking.
But some of the country’s biggest press groups have signalled they are unhappy and are still considering how to respond, with some talking of a boycott, a legal challenge, or …read more
Source: FULL ARTICLE at Huffington Post

Senior editor at British tabloid The Sun charged over payoffs

The deputy editor at The Sun tabloid in Britain has been charged with authorizing thousands of pounds (dollars) in illegal payoffs to government officials, prosecutors announced Wednesday.

The charges against Geoff Webster are latest in a drumbeat of criminal charges against employees of Rupert Murdoch‘s media empire.

Scores of journalists — most of them British employees of Murdoch’s New York-based News Corp. — have been involved in a wide-ranging scandal over phone hacking, police bribery, and a host of other media misdeeds. The scandal has spawned a series of overlapping investigations and was the impetus for a controversial plan to install a tough new U.K. media regulator with unprecedented powers.

News International, Murdoch’s London-based unit responsible for publishing The Sun, confirmed that Webster is still an employee of the tabloid but had no immediate comment on the charges.

In a statement, Britain’s Crown Prosecution Service said Webster was accused of authorizing a 6,500 pound (nearly $10,000) payment to an unidentified public official in return for information given to an unidentified Sun employee between July 2010 and August 2011. That was right around the time when rumblings about the phone hacking scandal were beginning to emerge.

A second charge relates to a similar but smaller payment made in November 2010.

Webster joins a small but growing list of senior journalists at The Sun who are facing prosecution over illegal payments and other crimes.

In January, the paper’s defense editor, Virginia Wheeler, was charged along with Constable Paul Flattley with conspiracy to commit misconduct in a public office.

Flattley is accused of receiving 6,450 pounds between 2008 and 2011 for information on “accidents, incidents and crimes” — including details about the death of a teenage girl.

Webster is due to appear at London’s Westminster Magistrates’ Court on March 26.

…read more
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