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Global recording industry optimistic despite revenue fall

By Michael Roddy LONDON (Reuters) - Top executives of the global recorded music industry said on Tuesday they were optimistic about growth despite figures for 2013 showing an almost 4 percent annual decline in revenues to $15 billion, blamed largely on the Japanese market. The drop-off followed figures in 2012 which showed the industry, hard hit by illegal downloads and music piracy, registering its first revenue gains since 1999, to $16.5 billion.

Global recording industry optimistic despite revenue fall

By Michael Roddy LONDON (Reuters) - Top executives of the global recorded music industry said on Tuesday they were optimistic about growth despite figures for 2013 showing an almost 4 percent annual decline in revenues to $15 billion, blamed largely on the Japanese market. The drop-off followed figures in 2012 which showed the industry, hard hit by illegal downloads and music piracy, registering its first revenue gains since 1999, to $16.5 billion.

High Liner profit soars as acquisition-related costs fall, overall sales rise

LUNENBURG, N.S. - High Liner Foods Inc. (TSX:HLF) had a much more profitable year in 2013 as overall sales improved and acquisition-related costs declined. The Nova Scotia-based seafood company said Wednesday that its net income for the 12 months ended Dec. 28 soared to $31.3 million, including $8.7 million in the fourth quarter. In 2012, High Liner had a net loss of $2.7 million or 17 cents per share in the fourth quarter and only $2.2 million of net income for the full year.

Lee Enterprises posts 18 pct drop in fiscal 1st-qtr net income as revenue declines

DAVENPORT, Iowa - Lee Enterprises says its fiscal first-quarter net income fell 18 per cent as revenue slipped. For the quarter ended Dec. 29, the Davenport, Iowa-based publisher earned $11.9 million, or 22 cents per share. That compared with $14.6 million, or 28 cents per share, in the same quarter a year earlier. Excluding special charges related to discontinued operations, the company says it earned $12.8 million, or 24 cents per share, up from an adjusted $10.5 million, or 20 cents per share, a year earlier.

GameStop's profit forecast disappoints, shares fall

By Chandni Doulatramani and Malathi Nayak (Reuters) - GameStop Corp forecast worse-than-expected earnings for the crucial holiday quarter, dashing hopes that new game consoles from Sony Corp and Microsoft Corp will fire up sales for the U.S. videogames retailer. Shares in the company slid 6 percent even after the company raised its full-year profit outlook, as many investors had hoped for an even stronger finish to 2013, driven by the first new gaming consoles in years from the industry's top hardware manufacturers.

DHX Media reports Q1 profit, revenue doubles compared with year ago

HALIFAX - DHX Media Ltd. (TSX:DHX) said Thursday that it earned $2.2 million in its latest quarter as new digital distribution deals helped revenue double from a year ago. The children's entertainment company said the profit amounted to two cents per share for the quarter ended Sept. 30 compared with a loss of $72,000 or zero cents per share a year ago. Revenue doubled to $27 million from $13.5 million. The increase was helped by significantly higher distribution revenue and proprietary production revenue.

EA's fast-rising sports games chief Wilson named as CEO

By Malathi Nayak SAN FRANCISCO (Reuters) - Electronic Arts Inc named its sports and digital games division head Andrew Wilson as chief executive on Tuesday, appointing the 39-year-old with a strong track record in leading game development after a six-month search. Wilson, who hails from Australia, joined Electronic Arts in 2000, climbing rapidly through the ranks in Asia and the United States.

US stocks mostly higher on solid retail results

US stocks Tuesday closed mostly higher following some solid retail earnings reports. The Dow Jones Industrial Average fell 7.75 (0.05 percent) to 15,002.99. The broad-based S&P 500 gained 6.29 (0.38 percent) at 1,652.35, while the tech-rich Nasdaq Composite Index rose 24.50 (0.68 percent) to 3,613.59. All three indices had fallen over the prior four sessions. But analysts cited strong earnings reports Tuesday from Home Depot, Best Buy and others as giving the market "a reason to rally," as Brent Schutte of BMO Private Bank put it.

Canaccord reports $7.9M Q1 profit, revenue up 15 per cent from year ago

TORONTO - Canaccord Financial Inc. (TSX:CF) said Tuesday it earned a profit in its latest quarter compared with a loss a year ago as revenue improved 15 per cent. The investment firm also announced it was changing its name to Canaccord Genuity Group Inc. on Oct. 1. Canaccord said it earned $7.9 million or six cents per diluted share for the quarter ended June 30 compared with a loss of $20.6 million or 24 cents per diluted share a year ago. Revenue was $187.2 million, up from $162.5 million.

Ex-NCAA athletes score court victory over EA video games

By Jonathan Stempel (Reuters) - A divided U.S. federal appeals court rejected Electronic Arts Inc's <EA.O> effort to throw out a lawsuit by former collegiate athletes who accused the company of using their images in video games without permission. By a 2-1 vote, the 9th U.S. Circuit Court of Appeals said EA's use of the athletes' likenesses in its NCAA Football and NCAA Basketball games did not deserve protection as free expression under the First Amendment of the U.S. Constitution.
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