NEWS CORP SCANDAL HITS U.S. AS WALL ST. JOURNAL CHIEF QUITS

Les Hinton, CEO of Rupert Murdoch’s Wall Street Journal and the Dow Jones news service resigned today (Friday), becoming the first high-profile casualty in America of the continued scandal stemming from allegations of telephone hacking by the now-shuttered News of the World. Hinton had headed News International, the umbrella group for News Corp’s British newspapers, [...]

MURDOCH: NEWS CORP EXECS HANDLED SCANDAL “EXTREMELY WELL”

Rupert Murdoch on Thursday vigorously defended the way the News of the World hacking scandal had been handled by News Corp executives, including his son James, the deputy COO of News Corp, who announced the decision to shut down the 168-year-old publication and subsequently announced that the company was withdrawing its bid to acquire complete [...]

REPORT: TRIBUNE HAS PAID ATTORNEYS $157.65 MILLION IN FEES

Hundreds of talented writers and broadcasters have been laid off by Tribune Corporation as it attempts to sort out its massive financial problems through bankruptcy reorganization. But lawyers and advisers working on the Tribune case have thus far been paid $157.65 million and are continuing to earn more than $10 million per month in fees [...]

REPORT: COURIC LIKELY TO STAY AS CBS ANCHOR

CBS and Katie Couric are open to a new deal that would keep her as anchor of the CBS Evening News when her current contract expires at the end of May, the Wall Street Journal reported today (Monday), citing people briefed on the matter. Under a new pact that will likely be proposed, the newspaper [...]

AS EXPECTED, LOU DOBBS MOVES TO FOX BUSINESS NETWORK

The long predicted move by former CNN host Lou Dobbs to Fox Business Network will take place during the first quarter of next year, the cable network said Wednesday. FBN announced that it had signed a multi-year deal with Dobbs, but it did not disclose the terms, nor did it indicate whether Dobbs would also [...]

CONAN’S NEW SHOW A BIG QUESTION MARK

While many advertising executives are predicting that the late-night television audience will be fractured even further when Conan O’Brien launches his new show on TBS at 11:00 p.m. on November 8, executives of the cable network are expressing hope that O’Brien may attract viewers who are not now watching live TV at that hour, the [...]

N.Y. TIMES OMBUDSMAN INVESTIGATES HACKERGATE

The New York Times’‘s ombudsman, Arthur S. Brisbane, has responded to a letter he has received from Bill Akass, managing editor of Rupert Murdoch’s London tabloid, The News of the World, accusing the Times of “breach[ing] its own ethical guidelines” in its report about the NoW‘s telephone hacking scandal and charging that it “was motivated, [...]

AVATAR LIFTS NEWS CORP 11.2 PERCENT IN 2009

Led by outstanding results at its Fox News and FX cable networks, which saw operating income soar 31 percent during its fourth quarter versus a year ago, News Corp beat analysts’ expectations as it reported profits of $875 million for the quarter, compared with a loss of $203 million for the comparable quarter a year [...]

NEWS CORP RIDES “AVATAR’S” WAVE

Avatar has proved to be as valuable for Rupert Murdoch’s News Corp as those fictional Pandoran minerals appear to be in the movie. Third-quarter revenue from the movie (which opened in the previous quarter) helped push operating profit for the company’s film unit to $497 million, up 76 percent from $282 million during the same [...]

MOVIE GALLERY/HOLLYWOOD VIDEO TO SHUT DOWN

Video rental chain Movie Gallery Inc., which has been struggling under a burdensome debt load piled on when it acquired Hollywood Video for $1.1 billion in 2005, has reached the point of exhaustion and has decided to shut down all of its stores, the Wall Street Journal reported today (Monday). The newspaper said that employees [...]

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