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Wednesday 23 April 2008 Murdoch challenges F.C.C. ruleBy Leah McBride Mensching, Wednesday 23 April 2008 at 23:47 :: Media Ownership Should his tentative deal to buy Newsday from the Tribune Company, Rupert Murdoch will likely “pose the first significant challenge” to the Federal Communications Commissions' recently adopted media ownership rule, The New York Times reported Wednesday. If the purchase goes through, Newsday will be Murdoch's third New York newspaper. Canwest named official regional newspaper publisher of 2010 OlympicsBy Leah McBride Mensching, Wednesday 23 April 2008 at 23:32 :: Advertising Canwest Publishing Inc.'s 10 regional daily publications could see an increase in advertising revenues, thanks to the 2010 Olympic Winter Games in Vancouver. The largest publisher of paid English-langugage dailies in Canada will be the “Official Regional Newspaper Publisher” for the Olympics, Editor & Publisher reported Wednesday. East Oregonian Publishing buys Hermiston HeraldBy Alexandra Zeumer, Wednesday 23 April 2008 at 23:09 :: Media Ownership The east Oregonian Publishing Co. said it will buy the twice-weekly Hermiston (Ore.) Herald from Western Communications Inc., Editor & Publisher reported Wednesday. The purchase is expected to close by May 1. Terms were not disclosed. McClatchy losses due to advertising down 15%By Alexandra Zeumer, Wednesday 23 April 2008 at 22:53 :: General U.S. newspaper publisher McClatchy Co. reported a loss in the first quarter as advertising revenues plummeted 15 percent, the Associated Press reported Wednesday. The company is planning on buying back millions of dollars of its public debt, Reuters reported. Moody's downgrades New York Times Co.By Erina Lin, Wednesday 23 April 2008 at 22:35 :: General Moody's Investors Services downgraded The New York Times Co. to Baa3, the lowest investment-grade level, from Baa1 on Monday, saying it believes the publisher's free cash flow leverage will remain "significantly weaker" this year than expected, Editor & Publisher reported. According to Moody's, The Times' debt position will be weaker because of an "ongoing deterioration in newspaper advertising revenue" combined with the cash it will need to fund capital spending initiatives, as well as US$132 million in annual dividend payouts. Yahoo! may accept offer from MicrosoftBy Erina Lin, Wednesday 23 April 2008 at 22:21 :: Media Ownership Jerry Yang, the co-founder of Yahoo!, announced Tuesday that the company may still recommend a hostile takeover from Microsoft, after admitting that it had already spent US$14 million on advisers, including Goldman Sachs and Lehman Brothers, to fight the approach, the Times Online reported Wednesday. With a nine percent raise in revenues for the first quarter to $1.82 billion, the company remained “open to any and all alternatives including a sale to Microsoft,” according to Yang. |
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