Filed under: BROADCAST/CABLE | Tags: CBS, CBS Evening News, CBS News, Katie Couric, NBC, Philippe Dauman, Simon Fuller, Television
Manhattan-based CKX, led by CEO Robert Sillerman and “American Idol” creator Simon Fuller, is agreeing to a management-led buyout for $1.2 billion, 13% less than a previous agreement. The lower price means that Sillerman and Fuller will pay $150 million less for the company. (Iwantmedia 5/29, http://www.crainsnewyork.com/apps/pbcs.dll/article?AID=/20080528/FREE/332689091/1084 5/29)
Ever since word of Katie Couric’s supposed lame-duck status at CBS News spread far and wide across the Internet last month, the ratings at her evening news show have continued to drop. CBS “Evening News with Katie Couric” is said to have hit a new low last week. (Iwantmedia 5/29, http://www.observer.com/2008/deja-vous-cbs-evening-news-hits-another-record-low 5/29)
Viacom expects a slower rate of U.S. advertising growth in the second quarter than in the first quarter, according to CEO Philippe Dauman. The company’s second-quarter domestic ad revenue is expected to grow 3% to 4%. “Right now, we’re in an economically uncertain environment.” (Iwantmedia 5/29, http://www.reuters.com/article/industryNews/idUSWEN594720080528 5/29)
A consortium led by NBC Universal is putting the final touches on a financing package that could turn its proposed acquisition of The Weather Channel into a reality. According to this report, NBCU, along with private-equity firms Bain Capital and Blackstone, would put up between $3 billion and $4 billion, with more than half — $1.8 billion — in equity. Financial Times (5/29)
Disney President and CEO Bob Iger, during an investor conference, said he would consider upping the company’s stake in Lifetime and A&E, but likely would not be interested in acquiring any more broadcast-TV stations. Disney currently controls 50% of Lifetime and 37.5% of A&E. Broadcasting & Cable (5/29)
MTV Networks and NBC Sports are teaming up to expand the Action Sports Tour, a global, youth-focused, action-sports business. The franchise includes the Dew Tour, which was created by NBC in 2005 and encompasses action sports like skateboarding and freestyle motocross. (Iwantmedia 5/29, http://www.worldscreen.com/newscurrent.php?filename=mtv052808.htm 5/29)
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