Latest Business News

Cable One Says It’s Doing Just Fine After Dropping Viacom Channels

Spongebob-Squarepants

This could be disquieting for Viacom, even though Cable One — owned by Graham Holdings Co. — is small fry in the cable playground. Cable One made noise in April when it stopped carrying 15 Viacom channels saying that they had become too expensive with programming that's too easy to find online. Here's one consequence: It ended Q3 with 476,233 video subs - down 15.1% from the same period last year — according to GHC's earnings report out today. But Cable One doesn't seem… Read

Big Media Shot Itself In The Foot By Selling Shows To Netflix: Analyst

Business Leaders Meet In Sun Valley, Idaho For Allen And Co. Annual Conference

Major studio and network owners' decision to sell shows to Netflix might go down as one of the biggest strategic blunders they've ever made, if Bernstein Research's Todd Juenger's compelling report today is correct. Like a lot of analysts, he's alarmed by what he calls the “unprecedented” drop in C3 ratings across ad-supported TV,  especially among 18 to 49-year-olds. He figures that the 4% decline in total day TV viewing vs the same period last year equals about 13… Read

Hollywood Media Bridge Gets $25M Infusion – AFM

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Hollywood Media Bridge has just been infused with a $25 million equity investment from Canadian entrepreneur Jonathan Kitzen and his Kajanga Syndicate, which are increasing their investment in the HMB fund founded by Phillip Goldfine. Hollywood Media Bridge has produced 15 films in the past two years, including the Academy Award-winning documentary short The Lady In Number 6: Music Saved My Life. Kitzen invested in that documentary and was its co-producer. “I've been on… Read

Wild Bunch Opens Window On Pan-European Digital Distribution: AFM

the green inferno

After world premiering Abel Ferrara's sex scandal pic Welcome To New York in an unconventional way at the Cannes Film Festival last May, French powerhouse Wild Bunch is launching Europe's first “e-distribution” company. The aim is to acquire four to five titles during the upcoming AFM which will be released via different VOD services throughout Europe, or — laws permitting — simultaneously on VOD and a small number of screens. Contrary to Netflix, which entered several… Read

Sony Posts Wider Q2 Loss, Beats Estimates On Strong PlayStation4 Sales

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Sony came out ahead of analyst estimates with a smaller-than-expected second quarter loss thanks primarily to increased demand for its PlayStation4 game console. However, overall losses widened to 136B yen ($1.2B) from 19.6B yen in the comparable period in 2013 as the mobile phone unit bled $1.58B. Sales and operating revenue were up overall by 7.2% compared to the same period last year at $17.4B. The games and network services segment recorded an 83.2% bump in sales and… Read

Redbox Says Weak Film Slate Weighed On Q3 Earnings

RedBox DVD Rental Kiosks Involved In Pricing Dispute With Film Studios

With its kiosk DVD rental business in the doldrums, Redbox parent Outerwall reported uninspiring results for Q3 - as it promised better times ahead due in part to belt-tightening and share repurchases. The company, formerly known as Coinstar, generated $17.9M in net income, down 78.4%, on revenues of $552.9M, -5.7%. Analysts expected the top line to hit $562.2M. Earnings were complicated by several one-time events. The share price rose less than 1% in post market… Read

Ellen DeGeneres Launches Ellentube Online-Video App, Website

Ellen DeGeneres on EllenTube Set

Ellen DeGeneres is taking her selfies to a new level, announcing on her show the launch of ellentubea site and iOS app that pull together video related to The Ellen DeGeneres Show and from fans. Ellentube will be the first product of a joint venture between DeGeneres and Warner Bros TV Group called Ellen Digital Ventures. DeGeneres, long a social-media powerhouse, broke Twitter records when she hosted the Oscars in March. In a pre-arranged bit of brilliant product… Read

Why Are DreamWorks Animation Shares Down After It Beat Earnings Expectations?

MADAGASCAR 3:  EUROPE’S MOST WANTED

The strong box office for How to Train Your Dragon 2 that helped DreamWorks Animation beat Q3 earnings forecasts in its report last night wasn't enough to keep the studio out of Wall Street's doghouse. Its stock is down 6.6% in afternoon trading - a reversal from last night when shares rose about 5.5% post-market. What changed? CEO Jeffrey Katzenberg's refusal in a conference call to discuss the reported buyout talks with Softbank disappointed some who had hoped for a… Read

Time Warner Cable’s Troubles Selling SportsNet LA Hurt Q3 Earnings, But Attracted LA Subs – Update

Time Warner Cable Grid Logo

UPDATE, 6:44 AM: Time Warner Cable still wants other distributors to pick up its SportsNet LA, which carries Dodgers baseball. But their refusal to do so had at least one benefit for TWC which, of course, does have the channel. LA “had the best year-over-year (subscription) performance in Q3″ compared to other TWC markets, CEO Rob Marcus told analysts in a call to discuss earnings. SportsNet LA “got meaningful viewership during the season both in terms of percentage of… Read

‘Dragon 2′ Helps DreamWorks Animation Beat Q3 Earnings Expectations – Live Blog

Dreamworks Animation

DreamWorks Animation shares are up about 5.5% post-market after it delivered a mixed, but for the most part upbeat, Q3 earnings report. The studio generated $11.9 million in net income, +18.5% vs. the period last year, on revenues of $180.9 million, +17%. Revenues were short of the $182.7 million that analysts forecast. But earnings per share, at 14 cents, were well ahead of projections for 8 cents. “Driving the Company's third-quarter results is the blockbuster… Read

Rupert Murdoch Says Hollywood Needs Hulu To Compete With Netflix And Amazon: Video

Obama Speaks At Wall Street Journal CEO Council Annual Meeting

Actually, Fox CEO Rupert Murdoch says that the industry needs Hulu to be “a serious competitor” to the two leading subscription streaming services. The effort to build Hulu was delayed as Fox and Disney bickered over its mission, leading to an aborted auction last year. But the companies finally are “on the same page,” he told an audience today at the Wall Street Journal's WSJDLive confab in Laguna Beach, CA. They plan to “drive that as hard and as fast… Read

Movie Theaters And Studios Maintain “Zero-Tolerance” For Smart Wearable Devices

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Be prepared to stash your Google Glass next time you head to the movies. The Motion Picture Association of America and National Association of Theatre Owners just updated their joint anti-theft policy to address the fast-growing number of wearable computer-connected devices. And they took a hard line, maintaining “a zero-tolerance policy toward using any recording device while movies are being shown.” That means “all phones must be silenced and other recording devices… Read

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