US-INDUSTRY Summary

Murdoch aims to defy naysayers with new News Corp

(Reuters) - Rupert Murdoch tried to convince Wall Street on Tuesday that there is still money to be made in newspapers, reminding investors that he had defied skeptics over the past 60 years to build one of the world's biggest media empires. As News Corp prepares to separate its publishing business from its entertainment assets, Murdoch said that while some brands face individual challenges, as a whole the publishing portfolio is "undervalued and underdeveloped."

Thomson Reuters hires Economist CEO to lead media unit

(Reuters) - Thomson Reuters Corp said on Wednesday it had hired Andrew Rashbass, currently group chief executive of The Economist Group, to be CEO of its Reuters news business. "We are determined that Reuters news should not only fulfill its critical mission but also its potential in creating long-term value for our customers and shareholders," David Thomson, chairman of Thomson Reuters, said in a statement.

Roku says raises $60 million in latest funding round

(Reuters) - U.S. television start-up Roku said on Wednesday it has raised $60 million in new funding from some of the largest media companies including Hearst Corporation, News Corp and British Sky Broadcasting as well as institutional investor Fidelity. The company said in a statement on Wednesday that the new investment will help Roku expand its streaming services.

U.S. minority media not affected by cross-ownership : study

WASHINGTON (Reuters) - Female and minority broadcasters do not appear concerned about one owner controlling newspapers, radio and TV stations in the same market, according to a study released Thursday as federal regulators review such media cross-ownership rules. The study, funded by the non-profit Minority Media and Telecommunications Council, was based on responses from 14 broadcasters and immediately criticized by public interest groups as not rigorous enough.

IAC seeking buyer for Newsweek: Variety

(Reuters) - IAC/InterActive Corp is looking for potential buyers for Newsweek, the venerable magazine that stopped print publications in the United States last year in favor of an all digital format, the Hollywood trade paper Variety reported on Tuesday, citing sources who have been briefed on the matter. IAC obtained a stake in the 80-year-old Newsweek in 2010, when it merged with the Daily Beast, and under an agreement with investor Sidney Harman, who had bought Newsweek from the Washington Post for $1 and assumption of liabilities.

Readers of German mass daily Bild to pay for some online content

BERLIN (Reuters) - Readers of Germany's best-selling daily, Bild, will have to pay for some online content from mid-June, an executive at Axel Springer said on Monday, as the company fights against an era of "free beer for everyone". Bild's website will adopt a so-called "freemium model", with some content remaining free while items such as exclusive interviews, stories and photos will be subject to a charge.

News Corp to take charge of up to $1.4 billion this quarter

(Reuters) - News Corp said on Friday it will write down the value of its Australian and U.S. publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations. The company said the goodwill impairment charge was primarily for its Australia newspapers though it gave no more details. It also said it expected reduced cash flows in the future.

Obama in heated exchanges with Code Pink anti-war protester

WASHINGTON (Reuters) - The woman who interrupted President Barack Obama's speech on counterterrorism policy on Thursday is well-known around Washington as a perennial protester on national security issues. Medea Benjamin, a founder of anti-war women's group Code Pink, began demonstrating years ago on Capitol Hill, becoming an almost routine presence at hearings where high-ranking officials of the Bush administration appeared to talk about the Iraq war.

Attorney general signed off on Fox phone records subpoena

WASHINGTON (Reuters) - Attorney General Eric Holder personally approved a decision to subpoena Fox News telephone records as the Justice Department investigated an unauthorized leak regarding North Korea, officials said on Tuesday. The Justice Department did not mention the subpoena when it issued a statement on Friday describing how Holder had vetted a decision to seek a search warrant for the contents of an email account used by Fox News reporter James Rosen.

Hulu video site auction attracts four bidders: sources

LOS ANGELES (Reuters) - Former News Corp president Peter Chernin and private equity fund Guggenheim Digital Media have placed bids for Hulu, two people with knowledge of the matter told Reuters, triggering a tug-of-war for the online video service. Satellite operator DirecTV and cable operator Time Warner Cable Inc also put in bids, one of the people told Reuters.

Source: http://news.yahoo.com/us-industry-summary-160024542.html

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