Tag Archives: Walt Disney Co

Newsroom Cutbacks Force Consumers to Flee News Outlets

By The Associated Press

newsroom cutbacks pew study

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John Moore/Getty Images In an effort to stem $40 million in losses, the parent company of Newsweek ceased publication of the newsweekly on Dec. 31, after nearly 80 years. Staff layoffs were included as part of the cutbacks.

By DAVID BAUDER

NEW YORK — Years of newsroom cutbacks have had a demonstrable impact on the quality of digital, newspaper and television news and in how consumers view that work, a study released Monday found.

Nearly one-third of consumers surveyed by the Pew Research Center’s Project for Excellence in Journalism said they have abandoned a news outlet because it no longer gave them what they had counted on, either with fewer or less complete stories.

Pew’s annual State of the News Media report delivered what has become a common litany of grim business statistics. Television news viewership is down. Newsroom employment at newspapers is down 30 percent since a peak in 2000 and has gone below 40,000 people for the first time since 1978. Newsweek shut its print edition and Time magazine is cutting staff.

“These cutbacks are real,” said Amy Mitchell, the project’s acting director. “And based on the data that we’ve collected, they are having an effect.”

Government coverage on local television news has been cut in half since 2005, the study said. Sports, weather and traffic now account for 40 percent of the content on these broadcasts; yet that’s just the sort of information readily available elsewhere. That’s a recipe for future erosion, Mitchell said.

Forty-two percent of adults under age 30 counted themselves as regular local news viewers in 2006; last year that was down to 28 percent, the study found.

Cable news is increasingly cable talk, although it’s difficult to conclude whether that is because of financial considerations or the sense among executives of what viewers want. During the last five years, CNN, a unit of Time Warner Inc. (TWX) has sharply cut back on produced story packages and live event coverage, the study found.

During the presidential campaign, reporters increasingly acted as megaphones instead of investigators, Pew said. More stories are simply reporting verbatim what candidates or partisans were saying, rather than using those statements as a starting-off point to explore an issue.

There are many more places that people can go for news or information now. The question is whether consumers are leaving prominent news organizations because they are not getting what they want, or whether these outlets can no longer afford to give them more because consumers are leaving, said David Westin, former ABC News president.

“Increasingly, it’s not just a question of what people want,” said Westin, who presided over an era of cutbacks at ABC News, owned by Walt Disney Co. (DIS). “It’s what people are willing to pay for.”

More organizations …read more
Source: FULL ARTICLE at DailyFinance

Hulu Will Never Be the Next Big Thing

By 24/7 Wall St.

80s tv set graphic

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by Jon Friedman

Once upon a time, Hulu had a golden opportunity to transform our viewing habits, the television industry and the Internet. Now, you’re more likely to associate Hulu with one of those sad “Where Are They Now?” sagas.

Hulu is an Internet site and a subscription vehicle that makes available advertising-bolstered, on-demand streaming video of TV shows, films and new-media trailers, film clips and additional footage. On the one hand, it is popular with users because they get to see so many of their favorite movies and TV programs. But that isn’t enough.

In the ever-intertwined media and tech worlds, either you are changing the landscape or you’re resigned to be nothing more than a face in the crowd. Companies have to show Main Street and Wall Street that they have a command of the current technology and are leading the pack. When this fails to happen, the public shrugs and inevitably goes on to The Next Big Thing.

Hulu’s future does not look promising. Consider that the Wall Street Journal reported last week that News Corp. (NASDAQ: NWSA) and Walt Disney Co. (NYSE: DIS), two of the companies calling the shots at Hulu, are talking now about ending the uncertainty over the behemoths’ joint control — and the possibility that one party will buy out the other or sell its interest to another party. That bulletin in itself is worth pondering.

Think about it. Why would one of these savvy, ambitious companies want to bail altogether if Hulu’s prospects looked bright? And where would a sale of some sort leave Comcast, another owner in Hulu? The big picture is that it’s possible that one of the companies is willing to concede that the promise went unfulfilled and it wants to move on.

Ultimately, Hulu probably never had a chance of doing something special, anyway. Its structure was unwieldy, as it is owned by the television industry, meaning it is at the mercy of its backers. How can the company do what it needs to achieve greatness — specifically, make daring decisions and take chances — when its bosses are pulling tightly on the reins? It can’t, of course.

If yet another television-centric entity eventually takes control of Hulu, the company will have the same problem as it has had all along: a lack of independence. Yes, Hulu could install a strong chief executive officer who takes no guff from the owners — fat chance. Why would some proud, accomplished media executive want to step into this conundrum? Just as the commissioner of baseball basically does the bidding of the team owners, the head of Hulu will do what his or her constituents want.

It’s a shame. Back then, Hulu seemed poised to shake up a media industry that desperately needs a jolt every once in a while. The idea was more revolutionary than evolutionary. It was new. It was different. It had so much potential.

And that’s all gone now. Now, we’re talking about what might have been.

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Source: FULL ARTICLE at DailyFinance

Notable ETF Outflow Detected – IWD, GS, USB, DIS

By ETFChannel.com

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Value Index Fund (AMEX: IWD) where we have detected an approximate $23.5 million dollar outflow — that’s a 0.1% decrease week over week (from 203,800,000 to 203,500,000). Among the largest underlying components of IWD, in trading today Goldman Sachs Group Incorporated (NYSE: GS) is up about 0.9%, U.S. Bancorp (NYSE: USB) is up about 0.8%, and Walt Disney Co. (NYSE: DIS) is higher by about 0.4%. For a complete list of holdings, visit the IWD Holdings page » …read more
Source: FULL ARTICLE at Forbes Markets

Hedge Fund Elliott Management Is Backing Stan Lee Media's Spider-Man Lawsuit Against Disney

By Nathan Vardi, Forbes Staff For the last few years Michael Wolk has quietly worked to advance the multi-billion dollar copyright infringement lawsuit that claims Walt Disney Co. does not own the rights to iconic Stan Lee-created superhero characters it acquired from Marvel Entertainment, like Spider-Man, X-Men, The Incredible Hulk and The Fantastic Four. Before Wolk got involved, the minority shareholders of a company Lee founded in the 1990s had for a long time unsuccessfully litigated over these characters, but Wolk has not been dissuaded.
Source: FULL ARTICLE at Forbes Latest

iShares Russell 1000 Index Fund Experiences Big Outflow

By ETFChannel.com Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Index Fund (AMEX: IWB) where we have detected an approximate $20.7 million dollar outflow — that’s a 0.3% decrease week over week (from 84,500,000 to 84,250,000). Among the largest underlying components of IWB, in trading today Berkshire Hathaway Inc. (NYSE: BRK.B) is down about 0.4%, Schlumberger Ltd. (NYSE: SLB) is down about 0.2%, and Walt Disney Co. (NYSE: DIS) is up by about 1.1%. For a complete list of holdings, visit the IWB Holdings page »
Source: FULL ARTICLE at Forbes Markets

Notable ETF Inflow Detected – ACWI, SLB, AMZN, DIS

By ETFChannel.comLooking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI Index Fund (NASD: ACWI) where we have detected an approximate $37.9 million dollar inflow — that’s a 1.2% increase week over week in outstanding units (from 67,600,000 to 68,400,000). Among the largest underlying components of ACWI, in trading today Schlumberger Ltd. (NYSE: SLB) is down about 0.2%, Amazon.com Inc. (NASD: AMZN) is up about 1.1%, and Walt Disney Co. (NYSE: DIS) is lower by about 0.2%. For a complete list of holdings, visit the ACWI Holdings page »
Source: Forbes Markets