Underscoring the troubled financial health of print media, News Corp. said it would record a non-cash impairment charge of $1.2 billion to $1.4 billion during the current fiscal quarter to reflect diminished value of its publishing assets.
The company, which owns the Wall Street Journal, New York Post, the Times of London, the Australian and the HarperCollins book publishing house, made the disclosure Friday afternoon in a filing with the Securities and Exchange Commission.
The goodwill and impairment charge was revealed ahead of the planned breakup next month of Rupert Murdoch's $76-billion...
Mike Darnell, the president of alternative entertainment at Fox Broadcasting and one of the most influential programming executives of the last two decades, is resigning.
The diminutive Darnell, known for his wild curly locks and cowboy hat, is considered one of the godfathers of raunchy reality TV. He was the force behind shows such as "When Animals Attack" and "My Big Fat Obnoxious Fiance."
More recently, Darnell has been guiding "American Idol," Fox's musical talent program that at one point was the biggest TV show in America. Although based on a British hit called "Pop Idol" and brought to...
The list of potential suitors for Hulu keeps getting longer.
On Friday, Yahoo submitted a bid for the online video site co-owned by entertainment giants News Corp., Walt Disney Co. and Comcast Corp.
Also jumping into the fray are private equity firms KKR & Co. and Silver Lake Management, which is teaming up with the powerful Hollywood talent agency WME Entertainment. Silver Lake owns a minority stake in WME.
Silver Lake and KKR declined to comment on the matter. WME did not respond to a request for comment. Yahoo also declined to comment.
Others that have expressed interest in making a play...
Rupert Murdoch's News Corp. moved closer to the planned breakup of the $76-billion global media conglomerate as board members this week formally approved the split.
June 28 is the target separation date, News Corp. said Friday in a statement. The company announced directors of the boards for the company, which will be renamed 21st Century Fox, as well as the spinoff publishing group, which will assume the News Corp. name.
Existing shareholders will receive one share of the new News Corp. for every four Class A or Class B shares that they current own. The distribution of shares will be in the...
After the coffee. Before deciding what movie not to see this weekend.
The Skinny: I'm going to try to not stuff myself on "Arrested Development" this weekend. Just because Netflix is releasing all the new episodes this weekend doesn't mean I have to sit glued to this computer watching them all at once like a little kid with a bowl of M&M's. Friday's headlines include the box-office preview for the long weekend and the latest on the possible Hulu sale.
Daily Dose: Aereo is not the only new distribution company that broadcasters are trying to shut down. Aereokiller, a knockoff company that also...
The initial bids are in for online media's most talked-about sale: Hulu.
The online video site, which is jointly owned by News Corp., Walt Disney Co. and Comcast Corp.'s NBCUniversal, attracted bids this week from two of Hollywood's digital media power-players and two pay TV distributors.
The Chernin Group, a next-generation media company founded by longtime News Corp. executive Peter Chernin, submitted a bid together with Providence Equity, according to several people familiar with the matter. The offer represents a homecoming of sorts for both. Chernin was an advocate for the creation of...
Fox News Chairman Roger Ailes sent a memo to the channel's staff critical of the Obama administration in the wake of revelations that the Justice Department was probing phone and email communications by Fox News reporter James Rosen and described him as a “possible co-conspirator” in violations of the Espionage Act.
"We reject the government's efforts to criminalize the pursuit of investigative journalism and falsely characterize a Fox News reporter to a Federal judge as a 'co-conspirator' in a crime," Ailes wrote. "The administration's attempt to intimidate Fox News and its...
The first round of bids were due this week for Hulu, the popular online TV service whose prospective sale has attracted interest from digital media players as well as cable operators.
An initial bid has been submitted by the Chernin Group, a next-generation media company founded by longtime News Corp. executive Peter Chernin, which is partnering with Providence Equity, according to several people familiar with the matter.
Guggenheim Digital Media, a group headed by former Yahoo Inc. interim Chief Executive Ross Levinsohn, also submitted a bid, say the people with knowledge of the situation who...
This weekend will see one of the biggest box office face-offs of the summer as two big-budget franchises aiming to attract male moviegoers go head-to-head at the multiplex.
The action-heavy "Fast & Furious 6" and the raunchy comedy "The Hangover Part III" arrive in theaters over the long Memorial Day weekend. But it doesn't seem like there will be much competition for the No. 1 spot.
The Writers Guild of America, West has escalated its fight with the producers of "Fashion Police," a show on the E! cable network.
The guild plans to hold a picket and rally outside the Wilshire Boulevard headquarters of E! Entertainment Television on Thursday morning in support of striking writers from its popular cable show, "Fashion Police." E! is owned by Comcast Corp.
About a dozen writers for "Fashion Police," a talk show about the fashion trends of Hollywood celebrities hosted by comedian Joan Rivers, have been on strike since April 17 in an effort to secure a union contract.
After the coffee. Before figuring out what to do this weekend.
The Skinny: Loyal readers know what a big fan I was of ABC's "Nashville." That's why last night's season finale was such a disappointment. What was once a cool breeze on a humid night is now just hot air. Thursday's headlines include reviews of "The Hangover Part III" and NBC's new comedy "Save Me." Also, Billy Crystal has agreed to do a sitcom pilot for FX.
Daily Dose:Sen. John McCain (R-Ariz.) is taking his case for a la carte programming to the industry. The senator, who is trying to pass legislation that would require the...