Media News

Thomson Reuters Corp reported lower quarterly profit and revenue that were slightly below Wall Street expectations, but said sales trends pointed to a return to revenue growth this quarter. The results show that Thomson Reuters is gradually emerging from the shadow of the financial crisis, which triggered layoffs on Wall Street and cancellations of subscriptions to trading terminals and products for legal professionals. Underlying operating profit fell 17 per cent to $655m in the second quarter, and ...

European newspaper group Mecom posted a 48 percent leap in first-half operating profit as it continued to drive costs out of the business as part of an aggressive move from traditional print to online local content. Mecom, which operates in the Netherlands, Denmark, Norway and Poland, said advertising revenue fell 3 per cent but online newspaper advertising grew 47 per cent, with 5.7 per cent of group sales now generated online. Circulation revenue rose 2 percent. Adjusted ...

France's second-largest broadcast group M6 posted higher first-half revenue and profit on Tuesday, helped by a recent pickup in advertising on its key TV channel and an uptick in its digital business. The recovery in advertising that started in the first quarter was confirmed in the second quarter as revenue at M6's main channel climbed 12.3 per cent to €190.9m ($246m). M6, which competes with France's biggest broadcaster TF1 and state-backed France Televisions, made €742.1m in revenue ...

Revenue for broadcaster Central European Media Enterprises (CME) rose 10.3 per cent to $201.7m in the second quarter with the acquisition of a Bulgarian TV station offsetting falling ad income. The figure beat the average estimate of $190.2m in a Reuters poll and overcame a 4 per cent decline in TV ad revenue in CME's six central and eastern European markets. Core profit, measured by earnings before interest, tax, depreciation and amortisation (EBITDA), grew to $46.2m from ...

Daily Mail & General Trust Plc, the publisher of Britain’s Daily Mail newspaper, said third-quarter revenue fell 2 per cent and the company was “wary” about its medium-term outlook, especially in the UK. Revenue for the period was £508m ($788m), Daily Mail said in a statement today. Sales at business-to-business operations rose 8 percent from a year earlier to £234m and the unit should grow this year on subscriptions and cost control, the company said. Consumer media ...

New York Times Co reported on Thursday better-than-expected earnings and said that second-quarter revenue rose about 1 per cent, as more advertisers and readers opened their wallets than they did a year before. The company posted second-quarter net income of $32m, or 21 cents a share, compared with $39m, or 27 cents a share, in the quarter a year ago. The company's adjusted earnings, which excludes a gain on the partial sale of its New England sports ...

RealNetworks Inc., the maker of software for playing digital video and music, appointed Bob Kimball as chief executive officer, a post he has filled on an interim basis since founder Rob Glaser vacated it earlier this year. Kimball, the company’s president, is also a member of the board, Seattle-based RealNetworks said today in a statement. Glaser, who stepped down in January, continues in his role as chairman.RealNetworks owns the RealPlayer digital media player and also is a platform ...

Prof-Media Ltd., Russian billionaire Vladimir Potanin’s media holding, set the coupon rate at 10.5 per cent for its debut, 3 billion-ruble ($98 million) bond sale, it said in a regulatory filing late yesterday. ...

Redbox, which became the fastest-growing US video retailer with DVD kiosks and a $1-a-day rental price stores couldn’t match, is developing an online strategy to stay competitive with larger rival Netflix Inc. The company, the biggest division of Coinstar Inc., may use a Web service to expand its library beyond the 200 or so titles crammed into each of its 24,000 or so DVD dispensers, President Mitch Lowe said in an interview from Redbox’s headquarters in Oakbrook ...

Naspers Ltd., Africa’s biggest media company, said its pay-TV unit will buy a 28.7 per cent stake in Russia’s Digital Sky Technologies, gaining a holding in the owner of the ICQ online messaging system. Naspers’s Myriad International Holdings division will pay $338 million to buy shares from existing DST investors and another $50m for new stock in the Russian company, the Cape Town-based company said today in a statement. The unit, known as MIH, will give DST its ...