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A year after taking the fall for the 2002 merger between AOL and Time Warner Inc. going bad, former AOL exec Bob Pittman purchased the female-targeted email newsletter Daily Candy for $3.5 million, and is now hoping to sell the website for $100 million. Time Inc. has shown interest in acquiring the property, but a source said negotiation between Pittman and the company is “premature,” the New York Post writes.
Many TW execs blame Pittman for being left with worthless stock options following the AOL-Time Warner merger, leading one well-placed source to say that Time Warner head Dick Parsons would likely reject the acquisition of Daily Candy.
“It would really embarrass Time Warner,” according to one media industry source. “I would think that they would rather not own something than write a big check to Bob Pittman.”
By the end of 2008, revenue growth in the radio industry is expected to have fallen 7%, the second year of negative growth for the medium, according to estimates in a report from from BIA Advisory Services, writes MarketingCharts.
BIA estimates that…
Next in the long list of companies cutting jobs comes Tribune Co., which is slicing positions at The Chicago Tribune.
About 12 employees at the Trib were given the rest of the week to clean out their desks; more cuts…
Target is one of the first brands to create an iPhone application. The Target “gift globe” allows iPhone users to shake their phones to launch a snow-fall effect.
When the snow clears, a gift idea from Target is revealed. Users…
NBCU is launching its latest round of layoffs, with up to 500 jobs, or 3% of its work force, expected to be cut.
NBC News bureaus in Dallas and Los Angeles will be affected, writes TV Newser. L.A. correspondent John Larson,…
A Specific Media study finds the presence of display advertising significantly affects click-through and search style across both paid and organic searches.
In the “travel and tourism” category, display advertising engendered a 274% lift on both paid and organic search.…
Today’s Wall Street Journal is running a cover wrap for Dell. The ad covers a third of the front page and all of the back.
Though the New York Post and the Daily News commonly use cover wraps, the move…
