Connect to share and comment
Mexico telecoms regulator reins in Slim and his empire
MEXICO CITY (Reuters) - Mexico's telecommunications watchdog unveiled a slew of regulations on Friday to claw back the massive telephone business of billionaire Carlos Slim, but said it would not order a break-up of his companies for now. Mexico is trying to open up its phone and TV industries to more competition following last year's passage of a major telecoms reform that targets the vast market shares enjoyed by Slim and the country's no. 1 broadcaster, Televisa.
Walt Disney, Shanghai Media Group to develop Disney-branded movies
(Reuters) - Walt Disney Studios has signed an agreement with Shanghai Media Group Pictures to develop Disney-branded movies, the latest move by a U.S. studio to grow its presence in China's entertainment business. U.S.-based writers will team up with local writers and filmmakers to develop stories and scripts that incorporate Chinese themes in Disney movies, the studio said in a statement. (http://link.reuters.com/mur47v)
Disney overhauls troubled interactive unit, lays off 700
LOS ANGELES/SAN FRANCISCO (Reuters) - Walt Disney overhauled its struggling interactive division in a sweeping reorganization that will reduce the number of video games it develops and alter its advertising strategy to focus more on the fast-changing mobile market. As part of the revamp, Disney will lay off 700 employees, roughly one-quarter of the interactive division, according to a person with knowledge of the layoffs. A Disney spokeswoman would not confirm the number.
FCC may limit TV stations banding on ad sales, retransmission
WASHINGTON (Reuters) - Federal Communications Commission on March 31 will vote on new rules that would prohibit broadcast companies from controlling more than two TV stations in a market by sharing advertising sales staff, FCC officials said on Thursday. FCC Chairman Tom Wheeler is now proposing new rules that would count a broadcaster as having an ownership interest in any station where that owner sells 15 percent or more of advertising time.
Comcast buys advertising startup Freewheel for $360 million
(Reuters) - Comcast Corp, the entertainment and cable group, said on Thursday it bought Freewheel, a startup that personalizes and inserts online video ads for media clients, as it tries to boost its digital advertising business. The companies did not reveal financial details but a source familiar with the transaction valued it at $360 million.
U.S. antitrust chief recused on Comcast, Time Warner Cable review
WASHINGTON (Reuters) - The top U.S. antitrust enforcer, Bill Baer, will be recused from reviewing Comcast Corp's proposed deal to buy Time Warner Cable Inc, the U.S. Justice Department said on Thursday. The investigation of the $45.2 billion deal will be overseen by two other Justice Department officials: Principal Deputy Assistant Attorney General Renata Hesse and Deputy Assistant Attorney General David Gelfand, a litigator.
Exclusive: DirecTV in talks with Disney on deal for Internet rights
(Reuters) - DirecTV is in talks with Walt Disney Co to license the rights to offer Disney's broadcast and cable channels as part of an Internet-based product, DirecTV said on Wednesday. The deal would mirror a first-of-its kind agreement that Disney and satellite rival Dish Network Corp announced earlier this week.
Tribune names media executive to head publishing co spinoff
(Reuters) - Media executive Jack Griffin was appointed on Thursday as chief executive of Tribune Co's forthcoming spinoff newspaper company, Tribune Publishing. Griffin has served as an adviser to Tribune through Empirical Media Advisors, the media consulting firm he co-founded.
Broadcaster RTL Group sees flat revenue in 2014
FRANKFURT (Reuters) - European broadcaster RTL Group expects revenues and core earnings to stagnate in 2014 as advertising markets across the continent are expected to remain challenging, it said on Thursday. "Assuming that European economies will continue to recover from the debt crisis, RTL Group expects its total revenue, at constant ... exchange rates, to be broadly stable," the group said in a statement.
China's Huayi to invest in Hollywood production firm
(Reuters) - Huayi Brothers Media Corp has become the latest Chinese company to seek a slice of the U.S. entertainment industry, announcing plans to buy a film-making business founded by a former head of Warner Brothers. Huayi, which mainly produces and distributes movies, television programs and music, signed a term sheet to invest $120-150 million in Studio 8, a firm set up by Warner Brothers ex-president Jeff Robinov.