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News Corp., Walt Disney Co. and Time Warner are expected to report higher December-quarter profits than they earned a year earlier.
Analysts will be watching the first quarter closely for signs that advertising sales are weakening due to the weakening economy. Tuna Amobi, analyst at Standard & Poor’s, told MarketWatch, “The challenging economic environment and a decline in consumer discretionary spending will have an effect on both advertising and subscriptions. So these stocks will probably continue to come under pressure.”
In fiscal Q2, News Corp. is expected to earn 28 cents a share on $8.25 billion in revenue. Profits in the same quarter a year earlier were 26 cents a share, on $7.84 billion.
Disney is expected to announce a $10 billion revenue, at 52 cents a share. That’s compared to 79 cents a share in the prior year, which included a gain from selling E! Entertainment and Us Weekly - excluding the sale, the company would have earned 50 cents a share.
Time Warner is likely to post revenue of $12.6 billion, at 52 cents a share. In the same quarter last year, net income was 44 cents a share, which included a significant gain on the sale of AOL access businesses in the U.K. and France, among others. Without those gains, Time Warner would have posted 22 cents a share.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Time magazine ousted Cosmo as the top magazine for college students in this year’s Anderson Analytics fall survey.
Time also jumped past People, which was last year’s No. 2, writes Ad Age. A Time spokesperson said the magazine did not run…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
