Date

Thu - 21.09.2017


financial data

What’s next for Bloomberg LP? A long report by Gabriel Sherman for New York Magazine offers insight into the inner workings of financial media giant, owned by New York Mayor Michael Bloomberg. The article describes Bloomberg LP’s style up to this point as plain, and facts-obsessed, and “wildly profitable”. As paidContent observes, the company makes money by selling detailed financial information to 300,000 global customers at a charge of about $20,000 a year. However, Sherman writes that as Bloomberg diversifies beyond its core business, it is finding that the same model of nothing-but-pure-information journalism does not always apply. 

Author

Hannah Vinter

Date

2012-06-05 15:40

The financial cost of the News of the World phone-hacking scandal may still be growing, but News Corp has seen its net profits grow by 65% between October 1 and December 31 2011 compared to the same period last year.

Yesterday News Corp published an earnings release, revealing that it made a net profit of $1.06bn in the last three months of 2011, compared profits of $624m in the same period in 2010.

Profits were driven by growth in the company's cable network programming, filmed entertainment and television divisions.

News Corp chairman and CEO Rupert Murdoch said in a statement that he was "particularly pleased with the success of our business strategies in spite of the uncertain economic conditions that we continue to face."

News Corp's cable division saw its operating income grow by 20% in the last three months of 2011, fuelled partly by the lower fees the company paid to broadcast NBA basketball. The corporation also benefited from profits from Fox News and growth in Latin American channels.

Profits from the company's filmed entertainment division more than doubled thanks to the success of films including "Alvin and the Chipmunks: Chipwrecked".

Author

Hannah Vinter

Date

2012-02-09 18:08

Postmedia Network Inc, which bought Canwest's newspaper division in July for US$1.1 billion, reported a 23 percent increase in the fourth quarter of the fiscal year that ended up on August 31, the Calgary Herald revealed Monday. Revenue totalled C$241.3 million, 1.5 percent higher than the C$237.7 million reported by Canwest in 2009.

The growth was led by a 7 percent increase in digital revenue and a 2 percent in print advertising, the company explained in a press release. However, it reported losses of C$44.6 millions.

Postmedia CEO Paul Godfrey said the company will remain privately owned until the half of 2011. Photo: the National Post

The results included both Canwest and Postmedia's financials, as the media group bought the 11 national dailies and 35 community newspapers six weeks before the end of the fiscal year, The Globe and Mail pointed out.

Author

Clara Mart

Date

2010-11-17 21:48

Media General Inc. reported a revenue decline in the third quarter. However, the loss is smaller compared to the same period one year ago, Business Week reported.

The revenue trend is expected to continue in the fourth quarter. The company's shares were down almost 6 percent to $7.49 in morning trading on Wednesday, Reuters reported.

The publisher posted a net loss of $10.7 million, or 48 cents per share, in the third quarter, compared to a loss of $62.5 million, or $2.80 per share, one year earlier.

Revenue was up from $158 million one year ago to $163.2 million, Editor and Publisher reported.

Publishing revenue plunged almost 8 percent to $77.7 million due to plummeting retail advertising sales in the third quarter year-over-year, while TV revenue increased 3 percent year-over-year to $163.2 million, thanks to strong political TV advertising.

Author

Erina Lin

Date

2010-10-21 22:46

Google announced a 32 percent increase in net income during the third quarter of the fiscal year, reaching US$2.17 billion, Market Watch revealed today.

"It's clear the digital economy continues to grow rapidly, a relentless trend that continues to drive continued growth in our core business ... and also fuel our momentum in our newer businesses," said Patrick Pichette (left), Google's chief financial officer, Investors.com wrote."We saw strength in every major product area in Q3 -- that is search, display, mobile -- as well as apps and enterprise. And when I say our newer businesses are seeing great momentum, I really mean it."

Image: Financial Post

The same time last year, Google reported a net income of $1.64 billion, according to Market Watch. Meanwhile, revenues hiked up by 23 percent from $5.94 billion to $7.29 billion year-on-year, Economic Times informed.

Author

Alisa Zykova

Date

2010-10-15 21:58

City A.M., London's free daily newspaper, reported profits for the first time in 18 months due to a 39 percent increase in advertising revenue during the first six months of the year, Marketing Week revealed today.

The newspaper's made a operating profit of £546,000 compared with a £302,000 operating loss during the same period in 2008, The Guardian pointed out. Overall, the company reported pre-tax profits of £423,000 while last year it had £419,000 of pre-tax loss.

"After 18 difficult months for all media we are now back on the growth rate we had before the financial crisis," said City AM chief executive Jens Torpe, Press Gazette quoted. "We are confident we can maintain this positive trend and are therefore increasing the circulation this autumn by adding some 30 to 40 new stations in the commuter belt."

The company also revealed that in 2009 total losses reached £773,000, and that it still has to regained £8m million from total net investment and losses. Currently, City A.M. had a daily circulation of 100,000 copies.

Author

Clara Mart

Date

2010-10-06 23:40

Independent News and Media's newspapers have returned to pre-tax profits after selling loss-making titles, The Irish Times reported today. Revenues for the first half of the year reached €656.5 million, up 7.8 percent, as operating profit increased 29.2 percent, to €94.6 million. Earnings before taxes, amortisation and depreciation were up 26.1 percent, to €115.6 million.

The Ireland-based INM sold its UK Independent and Independent on Sunday titles in April, and also sold its remaining share in India-based Jagran Prakashan Limited media group, lowering its net debt by €360.1 million in the period from June 2009 to June 2010. INM reported pre-tax losses of €31 million for the year of 2009, according to MediaGuardian.

Pre-tax profits were at €53.3 million, up more than 39 percent compared to a year prior, RTE.ie reported. Advertising is picking up gradually, and the group expects healthy profit growths for the full year, INM COO Vincent Crowley told RTE.

Author

Leah McBride Mensching

Date

2010-08-27 16:55

APN News & Media is upbeat for improving advertising markets, despite an underwhelming half-year result, The Australian reported.

APN News & Media saw its shares close 9 percent lower after it posted net profit of AU$40 million for the first half of the year.

"They missed on the headline numbers but I think the underlying message is fairly robust," Citigroup analyst Justin Diddams said.

APN's outdoor revenue was up 17.7 percent to A$109.4 million from continuing operations, but it lost two bus advertising contracts in New Zealand and Hong Kong as the deals were taken in-house.

However, analysts were confident about the outlook for its overall business in general, as well as its regional papers and radio assets in Australia.

In Australian, regional media revenue increased 7 percent to $140.5 million, but in New Zealand, media revenue was flat at $156.4 million.

Author

Erina Lin

Date

2010-08-20 18:33

The E.W. Scripps Co. Monday reported its second-quarter revenue and net income up, and said its trends are expected to improve through the second half of the year, according to the Associated Press article posted on Business Week.

The Cincinnati-based company's net income reached $99.5 million, or $1.56 per share, in the second quarter, up from $2.3 million, or 4 cents per share, year-over-year, Market Watch reported.

Revenue increased 5 percent to $189 million, beating Analysts' expectation of $179.9 million.

The television unit had its revenue jumped, while newspaper's revenue slipped 4 percent.

"Thanks to shared sacrifice and difficult decisions across the company, we're now in a strong financial position and devoting our creative energies to new opportunities arising from the relentless evolution of media," according to Scripps President and CEO Rich Boehne, Business Week reported.

Author

Erina Lin

Date

2010-08-09 23:27

McClatchy Co. reported an 83 percent profit decline in the second quarter as the company suffered from both advertising and circulation downturn, Reuters reported.

Net income dropped to $7.3 million, or 9 cents a share, from $42.2 million, or 50 cents a share, year-over-year. Revenue fell to $342 million from $365.3 million, the Associated Press reported.

Advertising revenue dropped about 8.2 percent to $260.5 million. Circulation revenue declined 2.4 percent.

Just like many other players in the industry, the economic slowdown has drained ad revenues and pushed them to restructure to cut costs by slashing jobs. The industry has also been trying to transfer the traditional readers online. Circulation at McClatchy slipped 2.4 percent, compared to the same period last year, the Wall Street Journal reported.

According to Chief Executive Gary Pruitt in a statement, advertising revenue would be down again in the third quarter, but the drop would be less severe, Reuter reported.

Author

Erina Lin

Date

2010-07-29 21:56

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