20th Century Fox (Film)

Posted on September 30, 2015 by Derrick Owens

By Derrick Owens

20th Century Fox Logo [1] Source: foxmovie.com

Twentieth Century Fox Film Corporation

10201 W Pico Blvd

Los Angeles, CA 90064

http://www.foxmovies.com/

Overview

Twentieth Century Fox Film Corporation, commonly referred to as 20th Century Fox or Fox, is an international film production and distribution company headquartered in Los Angeles, California. 20th Century Fox is a subsidy of the 21st Century Fox Corporation, which also owns assets in television stations, television broadcast networks, and cable network programming. Fox is a part of the “Big Six” film studios, which includes Columbia, Warner Brothers, Disney, Universal, and Paramount. The “Big Six” serve as Fox’s main competition. 20th Century Fox owns the rights to a number of valuable franchises including, X-Men, Ice Age, Die Hard, and Planet of the Apes. Fox is also known for distributing the two highest grossing films of all-time, Avatar and Titanic, both of which were directed by James Cameron [2].

Key Executives

Jim Gianopulos, Chairman and CEO [3]

Stacey Snider, Co-Chairman [4]

History

The origins of 20th Century Fox began in 1915 when film distributor William Fox established his own film production company after moving out to Los Angeles called Fox Films. In 1935, Twentieth Pictures’ Joseph Schenck and Darryl F. Zanuck left United Artists and merged with Fox Films to create the 20th Century Fox Film Corporation [6].

From the 1952 film Viva Zapata! [5] Source: Wikepdia.com

In 1981, the company was sold to investors Marc Rich and Marvin Davis. They subsequently sold the company to Rupert Murdoch, who merged the company into his own media conglomerate, News Corp, in 1985. News Corp was split into two companies in 2013. There is now the new News Corporation, which contained most of Murdoch’s print media assets, and 21st Century Fox, which specializes in filmed entertainment and is the current parent company of 20th Century Fox [7].

Finances

In the last fiscal year (June 30, 2014 – June 30, 2015), 20th Century Fox put out 25 films into general release domestically and they plan on releasing another 25 in fiscal 2016. Of those 25 planned films, Fox has already released six titles including Fantastic Four, The Martian, and The Peanuts Movie. Fox’s most anticipated movies yet to be released in 2016 include Deadpool, X-Men: Apocalypse, and Independence Day Resurgence [8].

20th Century Fox produces and distributes its films through a number of internal units:

Twentieth Century Fox and Fox2000 handles films for mainstream audiences.

Logo for Fox Searchlight [9] Source: foxsearchlight.com

Fox Searchlight Pictures produces and releases smaller, independent films for specialized audiences.

Twentieth Century Fox Animation produces and distributes feature length-animated films

Fox International Productions, Inc. co-produces and acquires local-language films for distribution worldwide.

Fox generates money from its films by distributing the films theatrically (domestically and internationally), through home media formats (such as digital distribution), on premium pay and SVOD, and on television and cable networks. Last year, the domestic home entertainment division for Fox released or re-released approximately 1,268 produced and acquired titles [10].

For fiscal 2015, revenues at the Filmed Entertainment segment decreased $154 million, or 2%, as compared to fiscal 2014. Increased production and marketing costs as well as a decrease in home entertainment sales led to the change. 20th Century Fox’s parent company, 21st Century Fox Corporation, has seen their stock dip in the last year. After reaching a high of $37.49 in December of 2014, the stock has fallen to its lower point since January 2012. In September it stood at only $25.41. Even with the drop of its stock prices, 21st Century Fox Corporation saw profit increase by 54% in 2015 compared to the previous year. Profits were at $8.306 billion in 2015 versus $4.514 billion in 2014 [11].

In Theatres

The Martian

Directed by Ridley Scott and starring Matt Damon, Jessica Chastain, Kristen Wiig, and Jeff Daniels, The Martian is a science-fiction adventure film produced and distributed by Fox. It was released on October 2, 2015 and posted the second highest October opening weekend of all time with a $54.3 million haul. It has gone on to be Fox’s most successful film of the year thus far bringing in over $217 million domestically and nearly $500 million worldwide. It’s production budget of $108 million means the film will be significantly profitable for the corporation. The film’s box office revenue has the possibility of growing even further as many Oscar analyst predict it will be in the running for best picture, best director, and best actor. The Martian is unique because it is a standalone, original film which has achieved worldwide success [12].

The Maze Runner: Scorched Trials

This sci-fi action-adventure film is a sequel to the 2014 hit Maze Runner. The film opened on nearly the same weekend as its predecessor and opened slightly under expectations. Scorched Trials brought in $30.3 million in its first weekend after opening on September 18, which was down from the 32.5 million opening of Maze Runner.

The film, based off of the popular novel series, is directed by Wes Ball and stars Dylan O’Brien, Kaya Scodelario, and Thomas Brodie-Sangste. Even though it has only grossed $80.9 million domestically with a $61 million production budget, Scorched Trials has been saved by its international performance. It has grossed over $230 million overseas, which motivated Fox to greenlight the film’s sequel, Maze Runner: The Death Cure, due out in 2017 [13].

The Peanuts Movie

This family animation film was released by Fox as part of their distribution deal with Blue Sky Studios. It was the first feature film in the Peanuts franchise in 35 years. It took over eight years to make, because the family of Charles Schultz, the creator of the comic, wanted the film to done with respect to his original work [14]. The film opened to $44.2 million on the weekend of November 6, playing as counter-programming to Spectre, Although there are still a few major international markets left to open, Peanuts has 92.6% of its revenue coming from domestic totals as of 11/29. The film has been a domestic hit with $116.7 million grossed so far, but international performance may need to increase before the $99 million production can be called profitable [15].

News and Developments

20th Century Fox has three films to be released before the end of 2015. The first film is Alvin and the Chipmunks: The Road Chip, which is due out December 18. Fox hopes to continue the success of the franchise, which has banked over $1.1 billion at the box office [16]. The other two films, The Revenant and Joy, are being distributed in limited release on December 25 before going wide in January. These two films are both expected to be major Oscar players and they star Leonardo DiCaprio and Jennifer Lawrence respectively [17].

Oculus Video by Oculus VR [22] Source: roadtovr.com

Fox signed an agreement with Oculus VR, making it the first major movie studio to invest in virtual reality as a way of showing their films. Over 100 films from Fox’s library will be released in the virtual reality cinema Oculus Video [18].

Fox International Productions entered into an exclusive first look deal with Paul Heth and Michael Schlicht for Russian-language films. The duo is known for their successes as they have overseen five of the ten highest grossing local language films in the modern Russian film era [19].

Planned 20th Century Fox World Theme Park in Dubai [21] Source: variety.com

Fox announced plans to open its first Fox-branded resort in Dubai featuring rides based off of its most popular films including Titanic, Aliens, Predator, and Ice Age. It will open in 2018 and is planned to cost approximately $850 million [20].

Sources

[1] 20th Century Fox Logo. Fox Movies. Retrieved November 30, 2015

[2] About. Fox Movies. Retrieved November 30, 2015

[3] James N. Gianopulos. 21st Century Fox. Retrieved November 29, 2015

[4]. Stacey Snider. Variety. Retrieved November 30, 2015

[5] From the 1952 film Viva Zapata! Wikipedia. Retrieved November 30, 2015

[[6] About. Fox UK. Retrieved November 29, 2015

[7] Welch, Chris. May 9, 2013. The Verge. 21st Century Fox logo unveiled ahead of News Corp split. Retrieved November 30, 2015

[8] 21st Century Fox Annual Report 2015. 21st Century Fox. Retrieved November 30, 2015

[9] Fox Searchlight Logo. Fox Searchlight. Retrieved November 29, 2015

[10] 21st Century Fox Annual Report 2015. 21st Century Fox. Retrieved November 30, 2015

[11] Twenty-First Century Fox, Inc. Yahoo Finances. Retrieved November 30, 2015

[12] Tartaglione, Nancy. November 24, 2015. Deadline Hollywood. ‘The Martian’ Closing In On $500M Global: How Fox Marketers Brought Ridley Scott’s Cool Science To The Masses. Retrieved November 29, 2015.

[13] Maze Runner: Scorched Trials. Box Office Mojo. Retrieved November 28, 2015.

[14] Smith, Chris. November 1, 2014. The Press Democrat. How the Schulz family made ‘The Peanuts Movie’ a reality. Retrieved November 30, 2015

[15] The Peanuts Movie. Box Office Mojo. Retrieved November 28, 2015.

[16] Alvin and the Chipmunks. Box Office Mojo. Retrieved November 29, 2015

[17] Cunningham, Todd. September 8, 2015. The Wrap. Fox Fuels Yule Logjam With 3 Christmas Releases. Retrieved November 30, 2015.

[18] Geier, Thom. September 24, 2015. The Wrap. ‘Alien,’ ‘X-Men: Days of Future Past’ Among 100 Fox Movies Coming to Oculus Virtual-Reality Headsets. Retrieved November 29, 2015.

[19] Business Wire. November 18, 2015. Fox International Productions Strikes Strategic Alliance With Paul Heth and Michael Schlicht for Russian-Language Films. Retrieved November 29, 2015

[20] Lang, Brent. November 3, 2015. Variety. Fox Building Theme Park in Dubai With ‘Titanic,’ ‘Aliens’ Attractions. Retrieved November 30, 2015.

[21] Lang, Brent. November 3, 2015. Variety. Fox Building Theme Park in Dubai With ‘Titanic,’ ‘Aliens’ Attractions. Retrieved November 30, 2015.

[22] Oculus Cinema. Oculus VR. Retrieved November 30, 2015.

Spotify- Grant Nygaard

Posted on September 30, 2015 by Grant Nygaard

Grant Nygaard

Spotify Logo

Headquarters (1)

Research & Development

Spotify AB
Birger Jarlsgatan 61, 10tr
113 56 Stockholm
Sweden
556786-5729

Main Headquarters

Spotify Ltd.
4th Floor
25 Argyll Street
London W1F 7TU
United Kingdom

USA Headquarters

Spotify USA Inc
45 W. 18th Street
7th Floor
New York, NY 10011
USA

http://www.spotify.com/

Key Executives (2)

Barry McCarthy- Chief Financial Officer

Daniel Ek: CEO & Co-Founder

Martin Lorentzon- Co-Founder and Chairman of The Board

Steve Savoca-Head of Content

Gustav Söderström- Chief Product Officer

Overview (Clip courtesy of Vimeo)

Spotify is a commercial music streaming service based in Stockholm, Sweden that provides licensed, label-approved content to consumers using a “freemium” business model (4). Launched in October, 2008 by Swedish entrepreneurs Daniel Ek and Martin Lorentzon, the privately held company has amassed over 75 million users in just 7 years, 20 million of which subscribe to the premium service (3). Available on Mac, Windows, smartphones, tablets, and Smart TV’s, Spotify revolutionized how users could access the world’s music from any platform. By providing a cost-effective, accessible alternative to piracy, Spotify has changed the landscape of engaging with music content.

Financial Information and Revenue Model

Spotify is a privately held and funded company that has no plans of going public as of now, but they have CFO Barry McCarthy on the board, who helped make Netflix a public company, so that may change in the near future (5). Currently valued at more than 8 billion, Spotify is essentially worth more than the entire recording industry combined, which is around 7 billion (6). In terms of a revenue model, Spotify employs the “freemium” approach, which means that the basic service is free with

Royalties from Spotify Favor the Artist.

advertising interruptions, but users can pay $9.99 per month for an ad-free service that can be accessed offline (4). Also, there is an option for college students to access the premium service for $4.99 a month, making the service extremely

How Royalties are Calculated.

attractive to advertisers looking to target a younger demographic (4). When it comes to paying royalties back to label and music providers, Spotify pays rights holders 70% of all revenue generated. Royalty payment amounts are based on individual deals that factor in country, artist, and the amount of premium users (4).

Interface

An example of Spotify’s desktop interface. (Provided by Spotify)

An Example of Spotify’s Mobile Interface. (Provided by Spotify)

Streaming Wars: A Market Fragments

From its release in the U.S, Spotify had dominated the music streaming market with little to no resistance. However, several competitors have begun to pop up, making the market more fragmented than ever. The most notable of these competitors is the recently released Apple Music, which currently boasts close to 15 million subscribers, 6.5

A new competitor has popped up trying to establish market share. Apple Music Logo

of which are paid users of the premium service (6). While this remains a fraction of Spotify’s number, it still is notable due to the fact that the service is less than a year old, and offered a free 3 month premium trial to anyone who signed up. To compete against this, Spotify announced its own trial period, offering 3 months of premium access for just 99 cents (7) .

Another reason Apple was able to grab a share of the market so quickly was its focus on artist-generated content and live curated radio by popular DJs on their “Beats Radio 1” Platform. Boasting celebrity DJs such as Drake and Pharrell Williams to host live shows and create curated content, Apple has been able to get users excited by having exclusive mixes created by artists (8). In response to Beats 1, Spotify has created “In Residence,” a series of podcast playlists curated by the likes of former Sex Pistol Steve Jones and alternative rock band Jungle (9). Although they lack the live component of Beats 1, Spotify hopes to expand this feature to more artists aimed a younger demographic.

Personal Curation

Also in the realm of curated content to compete with Apple, Spotify has scored a hit with its new “Discover Weekly” feature. Launched this quarter, the new addition creates

Spotify has become the most popular streaming service worldwide. Courtesy of App Annie

customized 2-hour playlists for users each week based on listening history and habits. Having accumulated 1.7 billion streams since launch, Spotify’s head of product Matt Ogle said the feature has, “Exceeded our expectations.” (10) This suggestion/discovery model is another reason Spotify has usurped the throne of most popular streaming service from Pandora, the internet radio service, this quarter (11) .

Examples like these show how, even in an evolving market, Spotify has found ways to stay on top when it comes to music streaming through new ways for users to engage with music. This yields results, as they are now able to dominate globally.

Spotify and Artists: The Good, The Bad, and The Ugly

This past semester, Spotify has had both positive and questionable interactions with content creators. Here are some notable ones:

The Good: The “Year in Music” (12)

On November 30th, Spotify released its annual “Year in Music” figures to the public, showcasing how Spotify numbers have become a legitimate measurement for success in the industry, and how it can be extremely beneficial for exposing music to a large audience.

In 2015, Spotify users streamed over 20 Billion hours of music across all platforms. Within those 20 billion hours, rapper Drake was the most popular, with 1.6 billion streams and 46 million unique listeners, showing how Spotify has helped his music reach a massive audience. Also, Major Lazer’s track, “Lean On” was named the most streamed track ever, with 540 million plays overall worldwide. Justin Bieber also broke records with his new album “Purpose,” getting 36 million streams on November 13th, the day it was released (available for streaming via Spotify below). These numbers show the power streaming can give the artist, as getting 36 million plays the first day an album was released was virtually impossible in the days of solely physical releases.

The Bad: Adele and 25 Absent on Spotify (13)

Although numbers for streaming are higher than ever, the projected highest-selling album of the year, English songstress Adele’s “25”, was not put up for streaming on Spotify at

Adele isn’t Spotify’s biggest fan. Courtesy of XL Recordings

her request. Having sold over 4 million copies in the US alone, the album is breaking sales records in an era where album sales are at their lowest point in history. This album would have surely boosted streaming numbers for Spotify and boosted ad sales to target free users. When asked about the lack of streaming for “25”, Adele said, “It probably is the

future, but, eh,” showing her lack of enthusiasm towards the method. To make matters worse, Pandora has exclusive rights to the album, putting the potential revenue in a competitor’s hands.

The Ugly: Victory Records Controversy (14)

The catalog of indie rock label Victory was pulled off of Spotify after the company inquired with Spotify about inadequate royalty payments. This practice of taking catalogs off the service is ugly because it sets a dangerous precedent for indie labels in a streaming

Victory Records Logo. Courtesy of Victory

climate, who may not have as much leverage to negotiate with Spotify as a major label like UMG would. Marginalizing independent music on Spotify would hurt not only the artists, but create an environment where conglomerates make all decisions.

Hopefully Spotify could expand on positive artist relations while attempting to help others be more comfortable with streaming in the future.

Overview

Spotify has had a tumultuous but overall successful few months, as they navigated an evolving, fragmenting market successfully and have become the de facto music streaming service around the globe. It will be interesting to see how they can deal with a rising Apple Music and recent backlash over royalties and label agreements while still engaging users with curated and personalized content.

Sources

(1) Spotify About Us

(2) Bloomberg Business Company Overview of Spotify

(3) Time Magazine What is Spotify?

(4) Spotify Artists Spotify Explained

(5) Huffington Post Spotify Just Hired The Man Who Took Netflix Public

(6) Digital Music News Spotify now Worth More Than Entire Recording Industry

(6) Wall Street Journal Apple Music Now has 15 Million Users

(7) Spotify Premium for 99 Cents

(8) BBC Beats 1 Radio Hosts

(9) NME Spotify Introduces “In Residence”

(10) Time Here’s The Story Behind Spotify’s Coolest Feature

(11) Radio and Music Spotify Becomes World’s go-to Streaming Service

(12) Billboard Spotify’s Year in Music

(13) The Verge Adele Admits Streaming is Probably The Future, Still Doesn’t Care

(14) Rolling Stone Spotify Drops Victory Records Catalog Over Disputed Royalties

iHeartMedia #1

Posted on September 30, 2015 by Taylor Vill

Taylor Vill

Source: 2015 Third Quarter Results [6]

iHeartMedia Inc.

200 East Basse Road

San Antonio, Texas, 78209-8328

Overview

iHeartMedia Inc. is the leading media and entertainment company in the United States. The company has 245 million monthly listeners in the United States, serving more than 150 markets with 858 broadcast radio stations.[1] The company leads the media industry not only through its vast broadcast radio platform but also through its digital radio, live events and on demand entertainment. iHeartMedia has three distinct radio brands: Premiere Networks, Katz Media Group, and Total Traffic & Weather Network.[2] Clear Channel Outdoor is a subsidiary of iHeartMedia.

Source: 2015 Third Quarter Results [6]

History

iHeartMedia, formerly known as Clear Channel Communications, was created by L. Lowry Mays in 1972.[3] The company is currently headquartered in San Antonio, Texas. Although the company acquired many radio stations in its first few years, the company acquired a majority of their stations after the passage of the Telecommunications Act of 1996.[3] In October 1996, the company was second largest radio company in the United States behind Westinghouse.[3] The company to continues focusing on creating dynamic and innovative campaigns for advertisers. iHeart Media maintains their top position in the media market by expanding their iHeart Radio platform and engaging listeners through a variety of unique live events.

Executives

Bob Pittman
Chairman and Chief Executive Officer [21]

Richard J. Bressler President, Chief Operating Officer and Chief Financial Officer [21]

Wendy Goldberg Executive Vice President and Chief Communications Officer [21]

Robert H. Walls, Jr. Executive Vice President and General Counsel [21]

Gayle Troberman Executive Vice President and Chief Marketing Officer [21]

On October 5th, iHeart Media announced that Steve Mills will be the new Chief Information Officer.[4] On October 23rd, the company announced that Adam Weiss would be iHeart Media’s new Vice President for Political Strategy.[5]

Financials

Source: Marketwatch [8]

iHeart Media released its third quarter earnings on November 5th and reported a third quarter revenue to be $847 million.[6] This was a 2% increase compared to the third quarter of 2014, however operating expenses increased by 3.3%. [6] This led there to be no change in operating income before depreciation and amortization compared to 2014.[6] The company also reported a $2.63 earnings per share for the quarter.[7] The media company’s current market capitalization is $151,990,000.[7] In the past year, the company’s stock has reached a high of $8.00 per share and low of $1.18 per share.[8] On the day the earning’s report was released, the current price of the stock was $2.00 per share and it is currently $1.40.[8]

iHeartRadio Brand

Source: 2015 Third Quarter Results [6]

In addition its numerous broadcast radio stations, iHeartMedia has a very successful digital radio brand, iHeartRadio. iHeartRadio reaches listeners by enabling access 20 million songs and hundreds of live radio shows through cars, mobile devices and the internet.[9] The amount of iHeartRadio registered users surpassed 75 million on September 30, 2015.[6] In the third quarter, total listening hours to iHeart Radio increased by 21%.[6] Since the creation of iHeartRadio, the the company has expanded the brand by creating live events such as the iHeartRadio Music Festival and iHeartRadio Music Awards, expanding the brand to new platforms and targeting new audiences. To learn more about what iHeartRadio has to offer for your music tastes, please click here.

Fifth Annual iHeartRadio Music Festival

Source: 2015 Third Quarter Results [6]

The music festival took place this year MGM Grand Garden Arena in Las Vegas during the evening of September 18th and 19th.[10] The music festival was hosted by Ryan Seacrest who is host of his own iHeart Radio show, “On Air with Ryan Seacrest.”[10] The evening performances consisted of well known music artists, such as Kanye West, Jennifer Lopez, Coldplay, Blake Shelton and many others.[10] During the day there was the iHeart Radio Music Festival Daytime Village that was held at the MGM Resorts Village which consisted of performances by artists such as Demi Lovato, Trey Songz, Nick Jonas and Tori Kelly.[10] This year the event created a record breaking 7.3 billion social media impressions.[11] The festival was broadcasted on all iHeartMedia radio stations and streamed live by Yahoo.[10] It was also broadcasted by the CW Network on September 29th and 30th as an exclusive special.[10]

CW and iHeart Media Sign Broadcast Deal

Source: Official Site of The CW Network [23]

On September 28th, the CW Network and iHeart Media Inc. signed a multi-year contract for the CW Network to be the exclusive broadcaster of the iHeartRadio Music Festival.[12] In addition, the contract allows CW to exclusively telecast the New York City iHeart Radio Jingle Ball concert that will take place in December.[12] This is significant for the iHeartRadio brand because it allows people to view the event beyond iHeartRadio’s digital interfaces.

iHeartRadio Jingle Ball Tour

Source: Jingle Ball 2015 [22]

On September 28th, iHeart Media also announced the return of the iHeartRadio Jingle Ball 2015 Tour presented by Capital One.[13] This is the first year that Capital One will sponsor the event. The Jingle Ball Tour will span eleven cities in the month of December with performances by top recording artists and new emerging talent.[13] The New York City Jingle Ball will be broadcasted by Yahoo and on iHeart Radio’s Contemporary Radio Stations nationwide.[14]

iHeart Radio Partners with Microsoft Groove

On October 13th, iHeart Radio announced that they will be the exclusive digital radio and streaming service for Microsoft’s music service, Groove.[15] This is another platform on which iHeartMedia can promote iHeartRadio. The music service is part of the Windows 10 upgrade.[15] Groove is available on Window devices, Xboxes, Android devices and iPhones.[15]

iHeartRadio Family

Source: Business Wire [17]

On November 10th, iHeart Media launched the iHeart Radio Family app in conjunction with Build-A-Bear Workshop.[16] Build-A-Bear Workshop provides the global, kid and family friendly brand.[17] This version of iHeartRadio was launched with the aims to reach a new demographic that iHeartRadio formerly did not reach. The new app is geared towards children ages four to eleven with stations such as Radio Disney Junior and Build-A-Bear Workshop Radio.[18] The music and radio stations reflect current pop sensations such as Nick Jonas, Five Seconds of Summer, One Direction and Selena Gomez. The app emerged after the “Hackathon” event iHeartRadio created to develop new digital devices. [16] Numerous other companies have recently creating media apps aimed specifically at children, for example, Rhapsody announced “kid mode” in October and YouTube created launched their own kid friendly app in February.[18]

Shining a Light

On November 20th, iHeart Media partnered with A+E Entertainment for Shining A Light: Progress on Race in America.[19] This was a concert with many famous artists to launch A+E Network’s campaign to focus on the issues of race in America and promote racial equality. [20] A+E Networks created the series, Progress on Race in America, in response to the shooting at the Emanuel AME church in Charleston earlier this year. [19] iHeart Media broadcasted the special on all of its radio stations nationwide and on all of its digital platforms.[20] The concert’s performers included Ed Sheeran, Bruce Springsteen, Zac Brown Band and Pharrell Williams.[19] Not only does this event further diversify and expand the iHeartRadio brand, it shows the company values social responsibility as well.

To view the the concert, please click here.

Overview

It is evident that in the recent months and past quarter, iHeartMedia has focused on reaching new audiences and diversifying the iHeartRadio brand. In order for the company to grow and succeed, the company should continue its mission to create new live events and to expand its digital platforms.

Sources

IHeartMedia Home. Retrieved December 1, 2015.
HeartMedia Brands. Retrieved December 1, 2015.
Clear Channel Communications Inc. History. Retrieved December 1, 2015.
Steve Mills Named iHeartMedia’s Chief Information Officer. Retrieved December 1, 2015.
Adam Weiss Named iHeartMedia’s Vice President For Political Strategy. Retrieved December 1, 2015.
2015 Third Quarter Results. Retrieved December 1, 2015.
iHeartMedia Releases Earnings Results, Misses Estimates By $1.63 EPS. Retrieved December 1, 2015.
IHRT Stock Quote. Retrieved December 1, 2015.
iHeart Radio. Retrieved December 1, 2015.
The Fifth Annual iHeartRadio Music Festival Rocked Las Vegas With A Mega Lineup & Superstar Surprise Collaborations. Retrieved December 1, 2015.
iHeartMedia, Inc. Reports Results for 2015 Third Quarters. Retrieved December 1, 2015.
The CW and iHeartMedia Announce New Multi-Year Broadcast Agreement For the iHeartRadio Music Festival. Retrieved December 1, 2015.
iHeartMedia Announces The Return Of The Iconic National “iHeartRadio Jingle Ball Tour Presented by Capital One” With Exclusive Cardholder Presale.Retrieved December 1, 2015.
iHeart Media Announces The Holiday Season With The Return of Its Iconic 2015 National “iHeartRadio Jingle Ball Tour Presented by Capital One.” Retrieved December 1, 2015.
iHeartRadio Becomes First Ever Digital Radio Service to Partner With Microsoft Groove. Retrieved December 1, 2015.
iHeartMedia Launches “iHeartRadio Family.” Retrieved December 1, 2015.
iHeartMedia Launches “iHeartRadio Family.” Retrieved December 1, 2015.
iHeartMedia Launches Kid-Friendly Radio App. Retrieved December 1, 2015.
‘Race in America’ Concert to Feature Bruce Springsteen. Retrieved December 1, 2015.
A+E Networks & iHeartMedia Partner On ‘Race in America’ Concert. Retrieved December 1, 2015.
Our Team. Retrieved December 1, 2015.
Jingle Ball 2015. Retrieved December 1, 2015.
Official Site of the CW Network. Retrieved December 1, 2015.

Cumulus #1

Image

Hannah Evans

Image courtesy of Cumulus Media [1]

Overview

Cumulus Radio is the second largest operator of FM and AM radio stations in the country. Its access stretches to over 90 metropolitan media markets, reaching 245 million viewers per week, through its 454 owned-and-operated broadcasting stations. However, it has a total of over 10,000 broadcast affiliates. Country music provides Cumulus Radio with its largest audience, especially through its NASH country music brand. Considering its NASH programming for TV and radio, NASH Country Weekly Magazine and the NASH BASH concert series, Cumulus is able to offer its viewers an all-immersive media consumption experience while bringing advertisers strait to their target demographic. With a range of station programming including: Religious, News/talk, Country, Classic Rock, Adult Contemporary, Spanish-language, and sports, Cumulus mergers viewers from all tastes and lifestyles [I].
Furthermore, Cumulus is beyond merely a radio broadcaster. The radio branch is an integral part of a larger company; Cumulus Communications Inc. Cumulus Communications includes broadcast radio, pure-play radio through the Rdio system, consulting and market research services for financiers, a quality live-performance series, and a country music brand offering radio, TV, magazine, and recording services [II].

New Look

Nancy C. Berner, CEO [1]

Nancy G. Berner was appointed the new CEO on October 13 of this year. Berner is seeking to employ a more cohesive and connected work atmosphere from the corporate level to the service level. She believes the top-down management structure has been hurting the success of the company. Berener wants to allow branch managers to have more operating independence in order to manage from the bottom-up, creating a stronger bottom-line [III]. Her push for a change in managing style comes at a pivotal moment for the company when a fresh face and outlook is necessary; however, the success of her changes will only be showcased in due time. Berner offers more than 30 years of media experience. Previously, she held the position of President/CEO of the Association of Magazine Media and was the head of Reader’s Digest Association and Fairchild Publications [1]. Berner also has been serving on the Cumulus Communications board since May 2015, making her an exemplary choice for the available position [1].

Lewis W. Dickey Jr., Vice Chairman [1]

Lewis W. Dickey Jr. was the previous CEO of Cumulus before Berner took over. Since its inception in 1997, the Dickey family has held controlling interest in the company. Dickey was CEO of the company since 2000. Lewis Dickey will still hold a high position of Vice Chairman of the board. During his leadership, Dickey Jr. led the development of the company as a provider of market research and strategy consulting for radio and TV through the establishment of the Stratford Research in 1985 [1]. Furthermore, Dickey Jr. was the brain behind pushing the company down a large quantity of acquisitions for expansion purposes [1].

Other Key Executives

Richard S. Denning Senior VP, Secretary and General Counsel [1]

Joseph P. Hannan Senior VP, Treasurer and CFO [1]

Westwood One

Westwood One represents the bulk of Cumulus Radio, with 454 owned-and-operated stations. It features the NASH brand, sports, music, news, spoken word, and digital content. Over the summer Westwood One News was launched with 750 radio affiliates nationwide with 9 of the stations within the top 10 markets [IV.]. Within the NASH branch, there is NASH Nights Live programming,. The program is a lifestyle show featuring country music, interviews, and plays about 12-13 songs per hour. It is hosted by Shawn Parr and Elina Dore Smith. The program airs on an New Country 96.3 KSCS.

Tag for Nash Nights Live; Shawn Parr to Right [2]

Parr was a voice for Dick Clark productions for 20 years and Smith co-hosted Timmy and Eliana show on Florida’s 107.1 WALA previously. It seeks to target the increased viewership live events can bring and does so by hosting events across the nation [IV.]

Image courtesy of NASH FM website [3]

NASH branch

The flagship station for the brand, NASH FW WNSH-M 94.7 had only 1.8 % of share of listeners in its market. Under the heavy push of John Dickey, the Executive Vice President at the time, the Nash station was developed for $40 million in 2012 [V]. The weekday programming clock is as follows: America’s Morning show with Blair Garner, Terry Clark, and Chuck Wicks from 5 AM-10AM; Kelly Ford 10 AM-3PM; Jesse Addy 3PM-7PM; NASH Nights Live 7PM-Midnight [IV]. The NASH Bash Concert series for March 24, 2015 will be hosted by the Barclays Center in Brooklyn. This represents a budding partnership for Cumulus with the Barclays Center as the deal includes 2 Cumulus-sponsored events per year for venue [VI]. Below is a recap video of the NASH Bash October 2015 series.

[4]

Finances

Stock Prices of Cumulus Communications Inc., 2015 (click on graph to link to site to enable underlying data) [5]

Key Figures from Q3 2015 report that September 30, 2015

Net Revenue: $289.4 million, down 7.8% from last quarter

Majority of revenues supplied through local broadcasting advertising:
$170,955 of $ 275,257 received from local broadcast advertising.

Impairment of intangible assets and goodwill: $ 565,584

Total operating expenses: $856,655

One of the major challenges the company has been facing over the past few years is its extensive debt, totaling about $2.5 billion. Over the past few years Cumulus has acquired an abundance of new station, consequently taking on high goodwill-debt. The underlying problem with this expansion is the goodwill portion. Goodwill is the difference between consideration and the value of net assets; therefore, the company has been spending money it doesn’t exactly have [VIII]. With about 2/3 of an 856,655 million total operating cost attributed to the impairment of intangible assets and goodwill as of quarter 3 2015, the company clearly acquires a large portion of its debt on goodwill [IX].

A large portion of this debt acquired on goodwill was for the expansion of its Rdio system and Westwood One programs. High debt and operating costs worked to decline the stock of Cumulus Communications to a low of $0.18 per share in early November. This is a significant decline from a 52-week high of $4.51 per share [VIII].

Recent News

Image courtesy of Rdio.com [6]

Most recently, Cumulus is set to sell Rdio to Pandora for $75 million, as of November 16, 2015. The deal will be finalized after the U.S. Bankruptcy court reviews and approves the case [VII]. Rdio offers 35 million songs in over 86 countries. It is available to stream on multiple devices such as tablet, smart phone, laptop, etc. Some key features of the service include: connecting with Facebook, stations based on customer’s music taste, create-able playlists, and free-service subscription or paid-service subscription [6]. The loss of this asset. On a more positive note, the ratings for Cumulus’s affiliate station, WKQX Modern Rock Chicago tied for fourth in its market for viewership with 3.8 % share of audience, according to a Nielsen study [V]. Also Cumulus’s affiliate News Talk 760 WJR-AM will become the new home station for the Detriot Lions. They signed a five year flagship deal that will take place in beginning of the 2016 Football Season [V].

Image Works Cited

[1] “Cumulus Leadership.” Cumulus.com. Cumulus Media. n.d. Web. 30 November 2015. http://www.cumulus.com/leadership.

[2] “NASH Nigts Live with Shawn Parr.” Westwood One. Cumulus Media. n.d. Web. 30 November 2015. http://www.westwoodone.com/PROGRAMMING/Music-Entertainment/Daily-Shows/Nash-Nights-Live-with-Shawn-Parr.

[3] “NASH FM 94.7.” NASH FM 94.7.com. Cumulus Media. n.d. Web. 30 November 2015. http://www.nashfm947.com.

[4] “Recap: NASH BASH October 2015.” NASH FM 94.7.com. Cumulus Media. 27 October 2015. Web. 30 November 2015. http://www.nashfm947.com/2015/10/27/nashbash2015.

[5] “Cumulus Inc. Stock Chart.” NASDAQ.com. NASDAQ. 3 Dec 2015. 3 December 2015. http://www.nasdaq.com/symbol/cmls/stock-chart.

[6] “Rdio.” Rdio.com. Cumulus Media. n.d. 30 November 2015.http://www.rdio.com/home.

Content Works Cited

[I] “Local Radio.” Cumulus.com. Cumulus Media. Web. 17 November 2015. http://www.cumulus.com/local-radio-2.

[II] Atkinson, Claire. “Cumulus Media’s New CEO Can’t Stop the Company’s Slide.” NYPOST.com. NY Post Holdings, Inc. 1 November 2015. Web. 30 November 2015.

[III] “Mary Berner Sets New Tone For Cumulus.” Insideradio.com. Insideradio.com. 14 October 2015. Web. 17 November 2015.

[IV.] “Westwood One: About Us.” WestwoodOne.com. Cumulus Media. n.d. 30 November 2015. http://www.westwoodone.com/LEARN-MORE/About-Us.

[V] “Cumulus Flexes Some Ratings Muscle.” Indsideradio.com. Insideradio. 24 November 2015. Web. 30 November 2015.

[VI] ” Randy Houser Added to Lineup for First NASH BASH at Barclays Center.” TheDailyCountry.com. 3 March 2015. Web. 30 November 2015.www.thedailycountry.com.

[VII] “Cumulus To Part Ways With Rdio.” Insideradio.com. Insideradio.com. 17 November 2015. Web. 20 November 2015.

[VIII] “Cumulus Media is a Sell.” Marketwatch.com. 13 September 2015. Web. 30 November 2015.http://seekingalpha.com/article/3530036-cumulus-media-is-a-sell.

[IX] “Cumulus Reports Operating Results for Quarter Three 2015.” Cumulus.com. Cumulus Media. 5 November 2015. Web. 30 November 2015. http://www.cumulus.com/PR/CMLS_09302015_Earnings_Release_r35.pdf.

Viacom

Posted on September 30, 2015 by Rachel Roth

Rachel Roth

Viacom Logo [19]

Viacom

1515 Broadway – 52nd Floor

New York, NY 10036

(212) 846-6700

http://www.viacom.com/

Background

Viacom is an American entertainment company that holds some of the world’s most dominant brands. It connects with its following through television, motion picture and online and mobile platforms. Viacom has 23 major and minor cable television networks and airs in more than 160 countries. Viacom’s most well-known and influential brands include MTV, VH1, CMT, Logo, BET, Nickelodeon, Nick Jr., TVLand, Spike and Comedy Central. Paramount Pictures and Viacom have connected to produce and distribute films together globally. [2] [4]

Sumner Redstone, Executive Chairman of the Board and Founder, is currently in declining health, but refuses to retire despite his questionable state. Shari Redstone is Viacom’s Non-Executive Vice Chair of the Board. President and Chief Executive Officer Philippe Dauman, Chief Operating Officer Thomas Dooley and Executive Vice President and Chief Financial Officer Wade Davis are also influential assets to this company. [3] [4]

Executive Chairman of the Board and Founder, Sumner Redstone [20]

Non-Executive Vice Chairman of the Board, Shari Redstone [21]

President and Chief Executive Officer, Philippe Dauman [22]

Chief Operating Officer, Thomas Dooley [23]

Executive Vice President and Chief Financial Officer, Wade Davis [24]

History

June 4th 1971- Viacom broke away from Columbia Broadcasting System Inc. (CBS) and became a public company. [1]

1985- Viacom acquired more than half of MTV Networks. [1]

By 1986- Viacom fully owned MTV Networks. This was an enormous feat for Viacom, as MTV has become one of the company’s leading brands today. [1]

MTV Logo [29]

1994- Viacom had a $9.9 billion merger with Paramount Communications Inc. to produce and distribute films. [1]

1999- Viacom began trading on the New York Stock Exchange as a publicly traded company. [1]

2000- $39.8 billion merger with CBS Corporation. [1]

2006- Paramount Pictures acquires DreamWorks L.L.C. [1]

2010- MTV Networks and Warner Music Group (WMG) formed a partnership, creating the music dynasty that most people think of today when they refer to MTV. [1]

Warner Music Group Logo [30]

2011- Viacom formed Viacom International Media Networks (VIMN), bringing MTV Networks International, BET International and Paramount television channels under one entertainment umbrella. Today, Viacom’s largest competitors include The Walt Disney Company, Time Warner Inc. and NBC Universal Media L.L.C. [1] [5]

Recent News

Hulu

Hulu Logo [25]

In October 2015, Viacom struck a deal with video on demand streaming service, Hulu, to exclusively stream Viacom shows. Hulu will be the only place that fans can view Comedy Central and MTV content such as “Inside Amy Schumer,” “Broad City,” “Drunk History,” “Key & Peele,” “Faking It” and “Finding Carter.” Since the initial deal in October, Viacom has since extended the contract and is planning on adding more exclusive video on demand content. This should be a mutually beneficial move for both Viacom and Hulu, because Viacom will be able to stream their shows online as the viewership of cable television is declining, and Hulu will have exclusive access to Viacom programming. [6]

Cablevision

Cablevision Logo [26]

In 2012, Cablevision claimed that Viacom made the company carry 14 lesser-watched channels because they were already carrying MTV, Comedy Central, BET and Nickelodeon, also known as Viacom’s “core channels.” Viacom referred to this as a “complete sham,” therefore leading to an antitrust litigation. On October 16th 2015, Cablevision and Viacom came to a settlement on the carriage agreement, and Viacom said in a press release that the companies “are simultaneously entering into mutually beneficial business arrangements.” This should benefit both companies because Viacom will be able to air its channels again through Cablevision and Cablevision will be able to provide more channels to its subscribers. [8] [11]

Nickelodeon

Nickelodeon Logo [27]

On November 16th 2015, Nickelodeon announced the premiere of their new docu-series “The Halo Effect,” which will spotlight teens and young adults who are helping and leading others their own age and even older. The 30-minute episodes of “The Halo Effect” will premiere in January of 2016 and will depict young, motivated individuals eager to make a positive change in the world around them. [13]

Additionally, Nickelodeon hosted its annual HALO Awards on November 29th 2015, where they honor teens that are making a difference in their communities and put on a concert. Artists such as Fifth Harmony, Joe Jonas, Tori Kelly and Flo Rida performed as Nick Cannon hosted. [7] [12]

BET (Black Entertainment Television)

BET Logo [28]

In an attempt to reach viewers through other platforms than just cable television, BET, Black Entertainment Television, announced on November 2nd, 2015 that they will launch an emotional documentary, “Holler If You Hear Me: Black and Gay in the Church,” exclusively on the BET NOW app. The documentary will explore homophobia in black circles and will show the way that the church treats members of the LGBT community. BET has prided itself on shedding light on issues that matter most to the African American community; so diving into the black LGBT world is definitely a step that the company is taking to bring light to a relevant matter. [14]

BET launched their 5th annual breast cancer awareness campaign in October 2015, titled BET GOES PINK: “Where Do You Do It?” This campaign encourages BET females to join the conversation and share where they perform breast self-exams. BET GOES PINK was designed to educate the black community on the dangers of breast cancer and to encourage younger viewers to get checked for breast cancer. [9]

To celebrate influential artists in the black community, the annual BET “Hip Hop Awards” was held on October 9th 2015 in Atlanta, Georgia. The awards show also included live performances by Future, Sean Combs, T.I., Kid Ink, among others. [10]

Financials

The growth of alternative video-viewing platforms is taking a large toll on how Viacom is performing. Video on Demand and online-streaming services such as Hulu, Netflix, tablets and smartphones are changing the way people view media and are contributing to a decline in the level of viewership of cable television. Viacom’s success is heavily reliant on television ratings. According to Nielsen, ratings at Comedy Central, BET, VH1, Nickelodeon, Spike, and TVLand have declined by double digits over the last year. [4] [15] [16]

At the end of the fourth quarter, the market price of Viacom’s stock was extremely low in comparison to what it has been over the last five years, priced at about $50.90 per share. Viacom’s fourth quarter revenues declined 5% from the third quarter, totaling $3.79 billion. Although these numbers aren’t strong, President and CEO Phillippe Dauman is staying positive, viewing this outcome as an opportunity for improvement. Dauman said “Viacom’s fourth quarter and year-end results are indicative of our progress in key areas, including recent ratings improvement and renewals of important distribution agreements. [15] [18]

Viacom’s cable television prime-time ratings among the 18-49 year-old demographic have fallen 19% from last year, whereas overall ratings among 18-49 year old viewers for this category have only dropped 7%. This shows that in comparison to the rest of cable television, Viacom’s ratings have taken a significant turn for the worse. [4] [15]

The Future of Viacom

Seeing as Viacom’s revenues for home entertainment, theatrical, filmed entertainment, domestic ad and overall fourth quarter revenues have all been on a rapid decline, the future of this company is extremely questionable and shaky. [15] [16]

Viewership and demand for cable television is at an all-time low, and audiences are more interested in consuming content on demand than ever before. Viacom’s future is moving in the direction of remodeling the company entirely to better fit the future and its consumers. [4] [16] [17]

With the decline of Executive Chairman Sumner’s health, it is important that successors are prepared to make changes to Viacom. Viacom executives are looking to connect more with their younger viewers via alternative media and social media platforms and to engage their younger audience through video on demand companies and streaming services. [4] [17]

Sources

[1] Viacom Timeline. Viacom. Retrieved: December 1, 2015

[2] About Viacom. Viacom. Retrieved: December 1, 2015

[3] Board of Directors. Viacom. Retrieved: December 1, 2015

[4] Viacom Is Having A Midlife Crisis. Bloomberg Business. Retrieved: December 1, 2015

[5] Viacom Inc. Competition. Hoovers. Retrieved: December 1, 2015

[6] Hulu Expands Viacom Deal To Exclusively Stream “Inside Amy Schumer,” Other Shows. The Hollywood Reporter. Retrieved: December 1, 2015

[7] Halo Awards 2015 ABOUT. Nick. Retrieved: December 1, 2015

[8] Cablevision, Viacom Settle Lawsuit Over Channel Bundling. Variety. Retrieved: December 1, 2015

[9] BET Launches New Public Service Announcement “Where Do You Do It?” For 5th Annual Breast Cancer Awareness Campaign. Viacom. Retrieved: December 1, 2015

[10] Drake, Kendrick Lamar and Big Sean Are The Big Winners Of The Night As They Tie With Three Wins At The 2015 BET “Hip Hop Awards.” Viacom. Retrieved: December 1, 2015

[11] Cablevision and Viacom Resolve Litigation. Viacom. Retrieved: December 1, 2015

[12] Justin Bieber, Fifth Harmony, DNCE, Flo Rida, Tori Kelly, WALK THE MOON and More Join Nick Cannon for 2015 Nickelodeon HALO Awards, Concert Special Honoring Young Community Leaders, Sunday, Nov. 29, at 7 P.M. (ET/PT). Viacom. Retrieved: December 1, 2015

[13] Nickelodeon Launches “The Halo Effect,” New Pro-Social-Themed Series Highlighting Teens Who Are Helping and Leading Others. Viacom. Retrieved: December 1, 2015

[14] BET Networks Launches New Original Groundbreaking Documentary “Holler If You Hear Me: Black and Gay in the Church” Exclusively on the BET NOW App Monday, November 2. Viacom. Retrieved: December 1, 2015

[15] Viacom Reports Fourth Quarter and Full Year Financial Results. Viacom News. Retrieved: December 1, 2015

[16] Will Viacom Be Here In A Decade? Big Media’s Digital Dilemma. The Daily Beast. Retrieved: December 1, 2015

[17] Why Viacom’s Philippe Dauman Needs An Heir Apparent, Soon. Deadline. Retrieved: December 1, 2015

[18] How Viacom’s Share Repurchase Strategy Fell Flat. Trefis. Retrieved: December 1, 2015

[19] Verizon FiOS and Viacom Renew Carriage Agreement. Verizon. Retrieved: December 1, 2015

[20] Sumner Redstone Picture 5. Ace Show Biz. Retrieved: December 1, 2015

[21] Shari Redstone. Dld Conference. Retrieved: December 1, 2015

[22] Philippe Dauman Attends A Ceremony Honoring Sumner Redstone With The 2,467th Star On The Hollywood Walk. Top News Stars. Retrieved: December 1, 2015

[23] 25 Highest Paid Men. Fortune. Retrieved: December 1, 2015

[24] Viacom Promotes Wade Davis to CFO. POST Online Media. Retrieved: December 1, 2015

[25] Hulu Selling Japanese Operation To Nippon TV. TechnoBuffalo. Retrieved: December 1, 2015

[26] Cablevision Files Antitrust Lawsuit Against Viacom Over Package Deals. Slash Gear. Retrieved: December 1, 2015

[27] Nickelodeon Announces Panels, Appearances & Signings for SDCC, Oh My!. Blurppy. Retrieved: December 1, 2015

[28] BET Awards 2011: And The Winners Are… College DJ. Retrieved: December 1, 2015

[29] MTV Networks’ Mobile App Study Reveals The Life Cycle of an App: From Discovered to Discarded. Frequency News. Retrieved: December 1, 2015

[30] Warner Music Offers $11.5 Million Settlement to Royalty-Rate Victims. Music Times. Retrieved: December 1, 2015

Sinclair Broadcast Group #1- Stern

Posted on September 30, 2015 by Samuel Stern

Samuel Stern

Sinclair Broadcast Group Inc. Logo (Photo courtesy of blog.solidsignal.com) [1]

Sinclair Broadcast Group Inc.

10706 Beaver Dam Rd

Hunt Valley, MD 21030

sbgi.net

Company Background

The Sinclair Broadcast Group Inc. (SBG), is the largest broadcaster of television content in the United States. Sinclair owns and operates the majority of 164 television stations in 79 US markets, and owns the rest through local marketing agreements. The company reaches the largest and smallest US markets and controls the largest number of ABC, CBS, CW, FOX and MYTV affiliates in the country. Sinclair also operates 3 radio stations in the Seattle-Tacoma Market [3].

SBG Network Affiliates (photo courtesy of sbgi.net) [2]

The Maryland-based broadcaster is the nation’s leading local news provider, has recently begun the distribution of premium college and high-school sports programming, and operates the American Sports Network and the Ring of Honor Wrestling league. After making making several lucrative deals to acquire stations in new markets, including a re-negotiation with DISH Network, Sinclair now reaches 37.6% of U.S. television households. Recent success has given Sinclair the opportunity to pursue new business ventures and acquire new assets [4].

ONEMedia logo, one of Sinclair’s most recent technology investments [19]

Sinclair also makes strategic equity investments through its Business Venture subsidiary. The company holds interests in multiple media and technology companies such as Acrodyne Services, ONEMedia, and Dielectric, as well as in real estate properties [5] (Scroll to investments).

Leadership

David D Smith, President & CEO (Photo courtesy of bizjournals.com) [6]

David D. Smith, President & CEO
Frederick G Smith, Vice President
Dr. J Duncan Smith, Vice President
David B. Amy, Executive VP & COO
Christopher S. Ripley, CFO

For further Bio’s of Sinclair Executives: http://sbgi.net/corporate-governance/

History

Julian Sinclair Smith, Founder (photo courtesy of sbgi.net) [10]

In 1971, Julian Sinclair Smith started the Chesapeake Television Corporation, which operated one station in Baltimore. That one station would eventually be the cornerstone of the nation’s largest broadcast company. Julian’s sons David, Fred, and Duncan would take over the company, and in the early 1980’s change the name to the Sinclair Broadcast Company, Inc. David D. Smith took over the company as president and CEO. Throughout the 1990’s, the brothers would go on a buying spree of content that allowed Sinclair to dominate the industry, increasing its number of television stations from 3 to 59. They purchased content in markets across the country, large and small. The passage of the Telecommunications Act of 1996 allowed for some deregulation of buying control by the FCC, which allowed the company to make more important station acquisitions. This entrepreneurial attitude and progressive vision is still integrated throughout the company today [9].

Financials

The Sinclair Broadcast Group Inc. went public in 1995 and is currently traded on the NASDAQ Global Select Market at $35.36 per share. The company has just released its Third Quarter Financial Results, revealing that the executives expectations were exceeded over the past year. Compared to the 3rd quarter of 2014, Sinclair realized a massive 10.8% revenue increase of $548.4 million versus $495.0 million the year before. The total yearly revenue increased 17.9% to $1.6 billion, versus $1.36 billion in the prior year period [7].

According to a late September Financial presentation at the Deutsche Bank Leveraged Financial conference, Sinclair reported a large increase in the amount of money the company can use to pursue its current ventures and find opportunities to enhance shareholder value, purchase more assets, and branch out to other revenue streams [8].

This influx of revenue has allowed Sinclair to work on technological advances to the company, a new initiative it has been following over the last year.

Key Initiatives

Sinclair has been on a buying spree throughout the past quarter.

The American Sports Network (ASN), Sinclair’s premiere sports division, broadcasts sports from 18 different NCAA athletic conferences [12]. The games are aired over stations that Sinclair owns or are syndicated through non-Sinclair stations. The ASN, launched in 2014, just made two deals in September with ESPN to carry Mid-American Conference football and basketball games, and to broadcast 10 American Athletic Conference Men’s basketball games per year on the large new sports platform [11].

American Sports Network logo (photo courtesy of wikipedia.com) [15]

Sinclair is being aggressive in order to bolster the progress of the ASN. They are currently negotiating a $500 million deal to buy the Tennis Channel, which operates 90% of Tennis content in the U.S. reaching 35 million homes [13].

On October 31st, the first-ever 24/7 Sci-fi multi-channel network was launched through a joint venture between Sinclair, MGM, and Michael Eisner’s Tornante investment company. The network is called COMET, and was the largest multicast channel release ever, reaching over 60% of the country [16]. The deal notes an effort by Sinclair to own its content due to the fact that it has almost reached the FCC limit for television ownership.

COMET logo, Sinclair’s newly owned Sci-fi Network (photo courtesy of comettv.com) [14]

On November 4th, Sinclair closed a deal with Pappas Telecasting and Lincoln Broadcasting in Central Nebraska to purchase a Fox affiliate and multiple ABC affiliated news stations. Sinclair purchased the stations for $31.25 million and the FCC has approved the deal [17]. This is a basic transaction for Sinclair in their pursuit of owning broadcast platforms in more markets.

Projections

Sinclair has taken advantage of its recent success to pursue initiatives that technologically advance the company and continue its dominance over the broadcast industry. One way to increase its footprint in an increasingly digitized world is the ability to broadcast and advertise on mobile platforms and enhance the broadcast experience. ONEMedia is working with all levels of the broadcast industry, from content producers to distributors, to design the “Next Level Broadcast Platform” that integrates mobile devices, creates an Ultra High Definition layout to broadcast, and creates new business models that improve upon the current structure of the industry [18].

Marketron Logo, Sinclair’s newest business partner. (Photo courtesy of contactworld.com). [25]

In late November, Sinclair and the leading media software provider Marketron negotiated a multi-year contract for Sinclair’s stations to use Marketron’s location-based mobile advertising. By studying demographics and utilizing mobile networks, Marketron allows advertisers to maximize accuracy and reach. This is a tactical move for Sinclair as it adds revenue streams by attracting potential advertisers to Sinclair’s growing reach [20].

Sinclair was recently part of a Memorandum of Understanding (MOU) with Pearl TV, a partnership of 9 leading broadcast companies, and Samsung Electronics America, the nation’s leader in television sales for the last 9 years [26]. The MOU will sustain technological advances in the industry and look to develop new ways to broadcast premium content to consumers. The three companies will implement the Advanced Television Systems Committee (ATSC) to overlook and advance the technical standards for broadcasting [21].

SAMSUNG Electronics Logo (photo courtesy of commons.org). [22]

To more accurately monitor the affect of these technological advancements on consumers, Sinclair signed a new deal with Rentrak, a demographic rating service, on November 11th. Rentrak has already been working with Sinclair on a smaller deal, but will now cover all of Sinclair’s stations. Rentrak will provide Sinclair with accurate qualitative data from large sample sizes that will benefit all of Sinclair’s advertisers [23].

Sinclair is looking to consolidate the growing responsibilities of the company in order to streamline the organization of new assets. On September 10th, Jerry Lilly, a former CNN executive, was named to the new position of Vice President of Operations. He will work closely with the VP of Data Systems and the VP of Engineering to incorporate new workflows into the company and ensure that Sinclair’s TV facilities around the country are equipped with the most up-to-date technology [24].

The buying spree that Sinclair has been on recently has brought it close to the FCC station ownership cap of 39% of TV homes [27]. The company will look to start owning more of its content to create revenue streams, while still upholding its current re-transmisison and affiliate contracts that have put Sinclair at the top of the broadcast industry.

Sources

(photos contain URL)

[1] SBG Logo. http://www.valuewalk.com/wp-content/uploads/2013/09/SBG-Sinclair-Broadcast-Group.jpg

[2] SBG Network Affiliate Logos. http://sbgi.net/wp-content/themes/sbgi-sparkling/images/affiliates.png

[3] SBG Summary Page.

[4] SBG Company News Release. Sinclair Broadcast Group Announces Agreement to Swap Television Stations With Gray Television,

[5] SBG Investment Information, http://sbgi.net/ (Scroll to investment information).

[6] David D. Smith Photo. http://assets.bizjournals.com/baltimore/print-edition/David-Smith*750.jpg?v=1.

[7] SBG Third Quarter Earnings Call (2015),

[8] SBG Financial Report (2015). Deutsche Bank Leveraged Financial Conference Presentation.

[9] SBG History (2015).

[10] Julian Sinclair Smith Photo (2015). http://sbgi.net/history/1970s/.

[11] Kuperberg, J. (2015). Sinclair’s American Sports Network to Televise AAC Men’s Basketball Games, Broadcasting & Cable.

[12] American Sports Network Conferences (2015). http://americansportsnet.com/conferences

[13] Cynopsis Media (2015). Sinclair Hits the Market, Cynopsis,

[14] COMET Network Logo (2015). http://comettv.com/

[15] American Sports Network Logo (2015). https://sp.yimg.com/xj/th?id=OIP.Mf26c3227d715a63de7998852578bc82fo0&pid=15.1&P=0&w=300&h=300.

[16] SBG News Release (2015). SBG and MGM Announce COMET, First-Ever Science Ficiton Multi-Channel Network, to Premiere October 31st.

[17] McAdams, D. D. (2015). Sinclair to Buy Pappas Stations for $31.25 million, TV Technology,

[18] SBG ONEMedia Information (2015). http://sbgi.net/one-media/,

[19] ONEMedia Company Logo (2015). http://www.onemediallc.com/images/logo-main.jpg.

[20] Lafayette, J. (2015). Sinclair Signs Exclusive Deal with Marketron, Broadcasting & Cable,

[21] SBG News Release (2015). Samsung, Pearl TV and Sinclair Broadcast Group Announce MOU to Speed Development and Implementation of Next-Gen Broadcast UHDTV Standards.

[22] SAMSUNG Electronics Logo (2015), http://bit.ly/1TkZ7f4,

[23] Lafayette, J. (2015). Sinclair Signs New Deal for Data From Rentrak. Broadcasting & Cable.

[24] SBG Company News Release (2015). Sinclair Names Jerry Lilly To The Newly Created Position Of Vice President Of Operations.

[25] Marketron Company Logo (2015). https://www.contactcenterworld.com/images/company/marketron-largex3-logo.png

[26] Tendra, J. (2015). Memorandum of Understanding Form. Sample Template.

[27] Halonen, D. (2013). FCC Mulls Hard 39% Cap on TV Ownership. TVNews Check.

Scripps Networks Interactive #1

Posted on September 30, 2015 by Adriana Yorke

Adriana Yorke

Source: imeimage.com / Scripps Networks Interactive Logo [1]

9721 Sherrill Blvd
Knoxville, TN, 37932 United States
(865) 694-2700
http://www.scrippsnetworks.com

Key Executives:

Kenneth W. Lowe | Chairman of the Board, President and Chief Executive Officer

Joseph G. Necastro | Chief Development Officer

Burton Jablin | Chief Operating Officer

Henry Ahn | Press Content, Distribution & Marketing

Steven J. Gigliotti | Chief Revenue Officer

Kathleen Finch | Chief Programming, Content & Brand Officer

For the complete list of leaders, visit www.scrippsnetworks.com/leaders.

Company:

Source: imeimage.com / Scripps Networks Interactive Brands [1]

This is Scripps Networks Interactive.

Scripps Networks Interactive is a leading lifestyle orientated content developer for multimedia platform distribution including television, digital, mobile and publishing. [2] Their company’s holdings include its six national television networks: Food Network, Home and Garden Television, Travel Channel, DIY Network, Cooking Channel and Great American Country, and their award winning associated websites. [3]

History:

In 1990, the E.W. Scripps Company began to channel its investments into information and entertainment content. In 1994, Scripps obtained Cinetel Productions, a creator of cable programming, and announced their plan to launch Home and Garden Television (HGTV). Capitalizing on the success that HGTV had, E.W. Scripps launched more lifestyle television networks. In 1997, they launched the Food Network that now, along with HGTV reaches over 100 million television households in the US. In 1999, the DIY Network was started, followed by the Fine Living Network just three years later. Great American Country was acquired in 2004, and five years later, the Travel Channel was obtained, rounding out Scripps Networks six-network holdings. [4]

By 2007, The E.W. Scripps Company had evolved into one of America’s most forward thinking companies. In October of that year, the board of directors authorized a separation into two publicly traded companies, one focused on the expanding television lifestyle brands and internet services and the other on local media businesses. The deal was completed on June 30, 2008, and Scripps Networks Interactive was formed on July 1, 2008. [4]

Financial Information:

source: scrippsnetworks.com / 2015 Third Quarter Financial Results [20]

Scripps Networks Interactive had unexpected third quarter results with earnings of $124.6 million, with an earnings per share increase to 96 cents. Last quarter, their revenue rose to $776.1 million and they anticipate this carrying over into the fourth quarter. There was a 22.2 percent increase in advertising revenue and 13.5 percent affiliate fee growth, which helped drive this increase. Kenneth Lowe said, “This has been a transformative quarter for Scripps Networks Interactive… With a strategy that enables us to create deeper connections with consumers across the world, we are focused on delivering long-term growth and enhanced shareholder value.” [19]

Acquisition of TVN:

Source: wikiwand.com / TVN Logo [7]

In September, Scripps Networks Interactive finalized their tender offer for all remaining shares of TVN (TV Nowa), Poland’s premiere multi-platform media company. Prior to this time, Scripps Networks Interactive had owned a majority holding of 52.7 percent of TVN through a deal they worked with Canal+ Group and ITI Group. On March 16th of this year, Scripps Networks Interactive €584 million deal was subjected to regulatory approval, which closed on July 2. At this time, Scripps Networks Interactive announced their intentions to acquire all remaining shares through a public tender offer. [5]

On September 28, Scripps Networks Interactive had obtained 46 percent more of TVN for 3,134.4 million zloty (approximately $833.1 million), or 20.00 zloty (approximately $5.32) per share. With the accumulation of these shares, Scripps Networks Interactive now own 98.8 percent of TVN. They have just finished a squeeze-out process, to obtaining the remaining 1.2 percent of shares. [6]

TVN is available in 86 percent of Polish households and they have numerous lifestyle and entertainment brands, such as TVN Style, TVN Turbo, and Poland’s leading 24-hour news channel, TVN24. [7]

Creation of New Senior Rolls:

Source: LinkedIn / Scripps Networks Interactive executive team [17]

On September 28, Scripps Networks Interactive created new senior management positions intended to boost their marketing efforts, brand recognition, and US network research. These new roles come after the announcement in August that Kathleen Finch was being promoted to the new position of Chief Programmer, Content & Brand for all networks. This follows the promotion of Shannon Jamieson Driver to Senior Vice President, Network Marketing & Creative Services. Prior to this, Jamieson was lead marketer for HGTV, DIY Network and Great American Country, and has been accredited with the monumental growth that HGTV had this past year. She now will be in charge of marketing across all of Scripps networks. Gabriel Gordon has also been promoted to a cross-network role, rising from lead researcher for the Food Network and Cooking Channel to head researcher for all of Scripps Networks Interactive. Following suit, Freddy James and Alaka Williams have also been appointed to new roles that unite the six networks. [8]

These new cross-network positions show Scripps Networks Interactive’s approach to unite the networks and increase brand recognition overall. The network chose industry professionals from within the company that they think have both creative and commercial interests in mind, expanding all six networks potentials and increase audience share. [9]

New Fall Programming:

Scripps Networks Interactive have began creating and launching more unique creative content throughout many of their networks. Along with the return of past hit shows, such as Food Network’s Worst Cooks in America and HGTV’s “Flip or Flop,” they are integrating new programming to their fall lineups. Starting in November, Kelsey Nixon, will become the host of a new show, “Kelsey’s Homemade,” on the Cooking Channel‘s Saturday morning cast [10]. Giada De Laurentiis, a ratings all-star with the Food Network, is launching a seasonal program, “Giada’s Holiday Handbook.” The first episode was aired on the Food Network on November 8, and features a guide to creating culinary masterpieces for entertaining friends and family throughout this holiday season. [11]

Green Team's Duff Goldman and Drew Scott, Red Team's Jonathan Scott and Ron Ben-Israel with Host Egypt Sherrod, as seen on Food Network’s All-Star Gingerbread Build, Special.

Source: businesswire.com / Duff Goldman, Drew Scott, Jonathan Scott and Ron Ben-Israel with Host Egypt Sherrod [13]

The Food Network and HGTV have come together this winter as well to create cross-network programming. On November 28, Food Network and HGTV stars such as Duff Goldman, Ron Ben-Israel, and the “Property Brothers” Jonathan and Drew Scott, came together to create a baking and building masterpiece, “All-Star Gingerbread Build.” The program was simultaneously cast on both networks, and recast on on November 30 on the Cooking Channel. [12]

Hungry For More Food Network:

The Food Network has begun global expansion, throughout Europe and Australia. On November 6, a German language Food Network was launched for the first time. This lifestyle channel, along with Scripps Networks Interactive’s Fine Living Channel, have partnered with an OTT platform, TV Spielfilm which was launched in July of this year. Both of these channels, along with the Travel Channel, are available in the pay-TV lifestyle package for €2.99 per month. [14]

Source: sbs.com.au / Chef Curtis Stone [16]

In Australia, public broadcaster SBS has partnered with Scripps to launch a version of the Food Network. The Food Network began airing down under on November 17 at 1 pm, free for all viewers. Programming was a mix of licensed Food Network shows, like Giada at Home, or Rachel Ray’s 30 Minute Meals, and original SBS programming led by Australian personalities, like Chef Curtis Stone. Food Network Australia will be aired 24 hours a day, 7 days a week, and all shows will also be available on SBS On Demand. [15]

Future Endeavors:

Scripps Networks Interactive plan to continue to deepen their brand recognition through multi-platform mediums. They will continue to make more original content throughout all of their networks and launch new shows, which will be available through both traditional and OTT methods. They also plan to continue global expansion and plan to maintain and strengthen their position as the number one lifestyle entertainment brand. [18]

Endnotes:

[1] Scripps Networks Interactive Logos, November 19, 2015.

[2] Scripps Networks Interactive, Inc. Company Profile, November 21, 2015.

[3] Company Info: Scripps Networks Interactive, Inc., November 21, 2015.

[4] Scripps Networks Interactive: History, November 21, 2015.

[5] Scripps Networks Interactive Completes Tender Offer for Polish Media Company TVN, November 23, 2015.

[6] Scripps to Buy Majority Stake in Polish Television Group, November 23, 2015.

[7] TVN (Poland), November 23, 2015.

[8] Scripps Networks Interactive Enhances Capabilities Through New Appointments, November 24, 2015.

[9] Scripps Networks Elevates Barton Jablin, Kathleen Finch, November 24, 2015.

[10] Kelsey Nixon Returns to Cooking Channel with New Series, “Kelsey’s Homemade,” November 24, 2015.

[11] Giada De Laurentiis Shares Secrets for Holiday Entertaining in Seasonal Series ‘Giada’s Holiday Handbook,’ November 24, 2015.

[12] HGTV and Food Network Simulcast All-Star Gingerbread Build, November 30, 2015.

[13] HGTV and Food Network Simulcast All-Star Gingerbread Build Nov. 28, November 30, 2015.

[14] Scripps Networks Launches Food Network and Fine Living in Germany, November 21, 2015.

[15] Food Network to Launch Down Under, November 21, 2015.

[16] Introducing Your New Foodie Channel, Food Network, November 30, 2015.

[17] LinkedIn: Scripps Networks Interactive, November 30, 2015

[18] Scripps Networks Interactive: Our Brand, November 20, 2015

[19] Scripps Networks Third Quarter Earnings Beat Estimates, December 1, 2015

[20] 2015 Third Quarter Financial Results, November 9, 2015.

21st Century Fox (TV)

Posted on September 30, 2015 by Jason Mussman

Jason Mussman

21st Century Fox Corporate Logo [1] Source: 21st Century Fox

21^st Century Fox was formed on June 28, 2013 with the division of News Corp into two separate companies, 21^st Century Fox (The Entertainment Properties) and News Corp (The Publishing Properties) [2]. Founded by Rupert Murdoch, one of the most recognized names in the entertainment industry today, 21^st Century Fox was created to bring about the future of film and broadcasting industry [3]. Rupert Murdoch still remains Executive Chairman of the Board but on July 1^st 2015 Rupert Murdoch’s son, James Murdoch, took over as CEO [4]. 21^st Century Fox has a broad portfolio of global assets in the broadcast and film industry. 21^st Century Fox’s most prominent broadcast network are the FOX Networks.

Early in June 2015 21st Century Fox and News Corp. reached an agreement to move their world headquarters [5]. The new headquarters will be at the second World Trade Center site. The building being developed by Bjarke Ingels Group, will house studios, be completely state of the art and will put a new more meaningful location to 21st Century Fox [5]

21st Century Fox

Two World Trade Center

New York, NY 10006

…….

Executive Leadership

Rupert Murdoch [6]
Executive Chairman – 21st Century Fox. Source: Eva Rinaldi

Lachlan Murdoch [7] Executive Chairman – 21st Century Fox. Source: Deadline

James Murdoch [8]
CEO – 21st Century Fox. Source: Deadline

Background

21^st Century Fox reaches over 1.8 Billion customers daily through its portfolio of film, cable and broadcast networks [9]. 21^st Century Fox has assets in both the broadcast

Some assets owned by 21st Century Fox [11] Source: 21st Century Fox

and cable networks including, FOX, YES, FX, FXX, FOX News Channel, FOX Sports and the most recently acquired, National Geographic [9].

The FOX network currently has 16 shows in its fall lineup with hit show Empire, leading the ratings [10].

Financials

Fox Sports logo [13] Source: Fox Sports

21^st Century Fox continually innovates, standing behind its cable networks to drive revenue growth. The 21^st Century Fox brand is globally recognizable because of its strategy to acquire and keep viewers. Sports and News programming is the cornerstone of this strategy [12]. 21^st Century Fox continues to combat cord cutting by continuing to improve on its Sports and News content and programming [12]. These two types of content bring in a live audience and help keep 21^st Century Fox on top of the marketplace.

21st Century Fox Annual Revenue [15] Source: 21st Century Fox Investor Relations

In Fiscal 2015, 21^st Century Fox’ revenue dropped 9% from $31,867,000,000 to $28,987,000,000 [12]. The drop in revenue was due in large part to the sale of its direct broadcast networks [12]. During this same period, 21^st Century Fox held nearly 25% of the market share of all Cable Programming, second to only Disney [14]. While Television made up approximately 17% of 21^st Century Fox total revenue, it dropped 8%, or $401 Million from 2014 [12]. At the same time, advertising sales decreased by 14%. The main cause of the falling prices was due to lower ratings on the FOX networks entertainment shows [12].

Screenshot of market share for Cable Network Programming [14] Source: CSIMarket

21st Century Fox trades on the Nasdaq under the ticker FOXA. Today, December 1^st 2015, the share price for 21^st Century fox is $30.26 [16]. This is a 5.56% decline from fiscal 2014 where the stock sat at $35.79 [16]. As stated earlier, the decline in stock price was due to in large part to poor ratings from Fox’s entertainment shows [12].

FOXA Stock Price [27] Source: Google Finance

National Geographic Acquisition

National Geographic Cover – June 1985 [28] Source: National Geographic

With the goal of saving National Geographic and expanding on its efforts in science and innovation, National Geographic and 21^st Century Fox agreed on a Joint Venture. The deal took place on September 9^th creating the for-profit Joint Venture National Geographic Partners [17]. For $725 Million 21^st Century Fox will take control of 73% of National Geographic [18]. This merger will give 21^st Century Fox new assets on both the television and print front [19]. This merger will help both National Geographic and 21^st Century Fox, and will provide both companies with new assets in both content and financials. The National Geographic endowment will increase to $1 Billion, providing more finances for innovation and research throughout the world [18]. This move will help 21^st Century Fox reach a broader audience as well as give it more assets on the digital platform.

Empire

Promo for Empire [29] Source: Fox

January 7^th 2015, FOX Network, the leading cable network for 21^st Century Fox, premiered a new show that would significantly impact 21^st Century Fox as well as the world around it. Empire, a show that centers on African American artists and executives, are all seen fighting for control of a music empire [21]. Empire continually leads in ratings each week, bringing in massive revenue for 21^st Century Fox [20]. Currently, Empire is the second priciest show for advertisers, coming in just behind Sunday Night football. A typical ad spot for Empire, costs just around $500,000 [32]. While Empire brings in a diverse audience, it is one of the highest rated shows among African American viewers [22]. Empire is doing more than just helping Fox on screen. Because the show centers on the music industry, the show is also constantly creating new songs and new stars [22].

Presidential Debate

Tweet by Justin Haskins after 3rd Republican Primary Debate [30] Source: Justin Haskins, Twitter

Tweet by Mark Simone after 3rd Republican Primary Debate [31] Source: Mark Simone, Twitter

After rival network CNBC inappropriately handled the moderation of the third Republican Presidential primary debate, the RNC suspended its future debate scheduled with CNBC [23]. At this time FOX Business stepped up and requested to host the next debate.

The RNC agreed and stated that “Fox Business won’t become a character in the campaign soap opera”, something that CNBC was accused of doing in the prior debate [23]. CEO James Murdoch later stated that he was going to show America the way a real debate should be handled, giving time to the real issues of the economy and the future and not an entertainment show [23]. This move for FOX will not only help with ratings, it will also bring in significant cash. Because of its estimated 14 million viewer audience, it is estimated that each 30 second spot, will bring into Fox roughly $250,000 [23].

The Future

Assets of 21st Century Fox [26] Source: 21st Century Fox

21st Century Fox will continue to innovate and continue to bring in revenue for its shareholders. With its diverse and ever expanding portfolio, 21^st Century Fox will continue to be a a leader in the global entertainment industry. By continually investing and utilizing innovative methods to fight against cord cutting, 21^st Century Fox will continue to grow and produce strong earnings for its investors.

Breaking News!

The Primetime Emmy nominated show Bones is currently suing 20th Century Fox, a division of 21st Century Fox [24]. The lawsuit is being brought on by the actors and producers of the show. In the suit the plaintiffs claim that Fox made “sweetheart deals” that cheated them out of tens and millions of dollars [25]. Deschanel and Boreanaz, two of the stars of Bones, claim that they are contractually entitled to 3% of the shows profits. 21st Century Fox has not commented on the suit [24].

[1] “21st Century Fox.” Logopedia. Accessed December 02, 2015. http://logos.wikia.com/wiki/21st_Century_Fox.

[2] “21st Century Fox.” 21st Century Fox. Accessed December 01, 2015. https://www.crunchbase.com/organization/21st-century-fox#/entity.

[3] “21st Century Fox Success Story.” 21st Century Fox Profile, History, Founder, Founded, Ceo. Accessed December 01, 2015. http://successstory.com/companies/21st-century-fox.

[4] Lieberman, David. “It’s Official: James Murdoch To Become Fox CEO Sharing Power With Lachlan.” Deadline. June 16, 2015. Accessed December 01, 2015. http://deadline.com/2015/06/fox-james-murdoch-become-ceo-1201445613/.

[5] News, Bloomberg. “News Corp. Will Move Headquarters to 2 World Trade Center.” Latest from Crains New York Business. June 02, 2015. Accessed December 02, 2015. http://www.crainsnewyork.com/article/20150602/REAL_ESTATE/150609962/news-corp-will-move-headquarters-to-2-world-trade-center.

[6] Rinaldi, Eva. “Rupert Murdoch.” Digital image. December 21, 2012. Accessed December 2, 2015. https://en.wikipedia.org/wiki/Rupert_Murdoch#/media/File:Rupert_Murdoch_-_Flickr_-_Eva_Rinaldi_Celebrity_and_Live_Music_Photographer.jpg.

[7] “Lachlan Murdoch Exits Ten.” TelevisionAU. Accessed December 02, 2015. http://televisionau.com/2014/03/lachlan-murdoch-exits-ten.html.

[8] “James Murdoch Faces Shareholder Resistance Over Board Re-Election.” Deadline. November 20, 2014. Accessed December 02, 2015. http://deadline.com/2014/11/james-murdoch-faces-shareholder-resistance-over-board-re-election-1201290216/.

[9] “Investor Relations .” Investor Relations. Accessed December 02, 2015. http://www.21cf.com/Investor_Relations/.

[10] “FOX 2015-16 Season Ratings (updated 12/1/15) – Canceled TV Shows – TV Series Finale.” Canceled TV Shows TV Series Finale. December 01, 2015. Accessed December 01, 2015. http://tvseriesfinale.com/tv-show/fox-2015-16-season-ratings-38075/.

[11] “Index of /wp-content/uploads/2014/08.” Index of /wp-content/uploads/2014/08. Accessed December 02, 2015. http://marketbusinessnews.com/wp-content/uploads/2014/08/.

[12] “21st Century Fox Annual Report.” Accessed December 2, 2015. http://tcfeuspstrgektron.blob.core.windows.net/uploadedfiles/pages/investor_relations/21cf%202015ar%20web.pdf.

[13] Accessed December 2, 2015. http://a.fssta.com/content/dam/fsdigital/media/images/migration/press-releases/2014/05/06/121913-FSO-FOXSportsLogo-PI.vresize.1200.675.high.35.jpg.

[14] “FOXA’s Competition by Segment and Its Market Share.” Csimarket. Accessed December 1, 2015. http://csimarket.com/stocks/competitionSEG2.php?code=FOXA.

[15] “21st Century Fox Annual Report.” Accessed December 1, 2015. http://tcfeuspstrgektron.blob.core.windows.net/uploadedfiles/pages/investor_relations/21cf%202015ar%20web.pdf.

[16] “Twenty-First Century Fox Inc.” : NASDAQ:FOXA Quotes & News. Accessed December 02, 2015. https://www.google.com/finance?cid=25639.

[17] Laylin, Tafline. “National Geographic Contributors Embrace Fox Deal with Ample Cautio.” The Guardian. September 16, 2015. Accessed December 2, 2015. http://www.theguardian.com/media/2015/sep/16/national-geographic-21st-century-fox-merger-rupert-murdoch.

[18] “National Geographic Society and 21st Century Fox Agree to Expand Partnership.” National Geographic Society Press Room. September 09, 2015. Accessed December 02, 2015. http://press.nationalgeographic.com/2015/09/09/national-geographic-society-21st-century-fox-agree-to-expand-partnership/.

[19] Farhi, Paul. “National Geographic Gives Fox Control of Media Assets in $725 Million Deal.” Washington Post. September 9, 2015. Accessed December 02, 2015. https://www.washingtonpost.com/lifestyle/style/national-geographic-magazine-shifts-to-for-profit-status-with-fox-partnership/2015/09/09/7c9f034e-56f0-11e5-8bb1-b488d231bba2_story.html.

[20] Porter, Rick. “Rock Steady: The Most Consistently Rated Shows of Fall 2015.” TV By The Numbers by Zap2itcom. November 26, 2015. Accessed December 02, 2015. http://tvbythenumbers.zap2it.com/2015/11/26/rock-steady-the-most-consistently-rated-shows-of-fall-2015/.

[21] “Empire.” IMDb. Accessed December 02, 2015. http://www.imdb.com/title/tt3228904/.

[22] “A SPRAWLING EMPIRE: HOW FOX’S HIT TV SHOW AFFECTS MUSIC.” Nielsen. September 23, 2015. Accessed December 2, 2015. http://www.nielsen.com/us/en/insights/news/2015/a-sprawling-empire-how-foxs-hit-tv-show-affects-music.html.

[23] Gold, Hadas. “For Debate, Fox Business Aims to Be the Anti-CNBC.” POLITICO. November 9, 2015. Accessed December 02, 2015. http://www.politico.com/story/2015/11/fox-business-republican-debate-cavuto-bartiromo-215634.

[24] Patten, Dominic. “Fox “Cheated” ‘Bones’ Stars Out Of More Than $100M, New Profit-Participation Suit Claims.” Deadline. November 30, 2015. Accessed December 02, 2015. http://deadline.com/2015/11/bones-lawsuit-david-boreanaz-emily-deschanel-fox-barry-josephson-1201647064/.

[25] Balloni, Matthew. “‘Bones’ Producer Sues Fox for “Accounting Chicanery,” Claims Top Execs “Threatened” Him.” The Hollywood Reporter. November 25, 2015. Accessed December 02, 2015. http://www.hollywoodreporter.com/thr-esq/bones-producer-sues-fox-accounting-843854.

[26] Mussman, Jason Taylor. 21st Century Fox Brands. Digital image. Accessed December 1, 2015.

[27] “Twenty-First Century Fox Inc.” : NASDAQ:FOXA Quotes & News. Accessed December 02, 2015. https://www.google.com/finance?cid=25639.

[28] “Thoughts on Afghan Girl’s Third Cover Appearance as National Geographic Looks Back, Forward – Reading The Pictures.” Reading The Pictures. October 02, 2013. Accessed December 02, 2015. http://www.readingthepictures.org/2013/10/thoughts-on-afghan-girls-third-cover-as-national-geographic-looks-back-forward/.

[29] “Empire Review – Where Does Your Loyalty Lay? – Screen Sirens TV.” Screen Sirens TV. October 02, 2015. Accessed December 02, 2015. http://screensirenstv.com/empire-review-where-does-your-loyalty-lay/.

[30 ]Haskins, Justin. “CNBC Has Totally Discredited Itself Tonight with This Travesty of a Debate. The Questions Have Been Atrocious and Biased. #GOPDebate.” Twitter. October 28, 2015. Accessed December 02, 2015. https://twitter.com/TheNewRevere/status/659551198098386944?ref_src=twsrc%5Etfw.

[31] Simone, Mark. “The Big Winner of This Debate – FOX Business Network. CNBC Looking Too Biased, a Little Sleazy and Untrustworthy #GOPDebate #CNBCGOPDebate.” Twitter. October 28, 2015. Accessed December 02, 2015. https://twitter.com/MarkSimoneNY/status/659548475764420608?ref_src=twsrc%5Etfw.

[31] Poggi, Jeanine. “TV Ad Pricing Chart: ‘Sunday Night Football,’ ‘Empire’ Are Broadcast’s Most Expensive Ad Buys.” Advertising Age Media RSS. September 24, 2015. Accessed December 02, 2015. http://adage.com/article/media/ad-pricing-chart-sunday-night-football-empire-broadcasts-most-expensive-ad-buys/300516/.

Hearst Television #1

Posted on September 30, 2015 by Jamaya Powell

Jamaya Powell

Logo of the Hearst Corporation Source: BounceExchange.com [9]

History

The Hearst Corporation started out as a single newspaper by William Randolf Hearst in 1887.[1]

Founder of the Hearst Corporation, William Randolph Hearst
Source: Old-Picture.com [10]

Since then, the Hearst Corporation has grown to become one of the biggest media and information companies in the world. [2] Hearst incorporated broadcasting into its company in 1928, when they purchased WSOE radio in Milwaukee. The station also became the groundwork of WISN-TV. In 1948, after acquiring various stations across markets, Hearst launched WBAL-TV in Baltimore, WLWT-TV in Cincinnati, and WDSU-TV in New Orleans. These were some of the inaugural television stations in the nation. In 1953, Baltimore’s WBAL-TV was one of the first television stations to transmit in color, as well as launching the famous children’s show “Romper Room,” [3] that ran from the early 1950s to the 1980s. Throughout the years, Hearst Broadcasting acquired more broadcasting stations across various markets. In 1981, WCVB-TV in Boston was declared “the best television station in America” by the New York Times. Hearst Broadcasting acquired Argyle Television Inc., which owned six stations at the time, for $320 million dollars,[4] forming Hearst-Argyle in 1997.[2]

Here is a clip from the popular children’s TV show, Romper Room, as mentioned above. (https://www.youtube.com/watch?v=Xq9-8ZxZ6_Y)

One of the Hearst-Argyle’s stations, WISN-TV in Milwaukee, was the first station within its market to create their very own website, based off its weather segment.The website, which was started in 1997, offers snow closing information, around the clock. In that same year, KITV-TV in Honolulu was the first American digital commercially licensed TV station, which meant that they could provide digital high-definition television or HDTV, for short. Television Broadcast magazine named KITV “Broadcaster of the Year” in 1997. Later in 1999, New England’s WCVB-TV station was the first stations, local and nationwide, to produce an high-definition (HD) TV episode. The TV episode was of its renowned public-affairs program “Chronicle.” [2]

One of the first HD television programs created Source: Constant Contact Archive [11]

That same year, the Hearst-Argyle company acquired the Pulitzer Publishing Co, which owned nine TV stations and five radio stations. They also bought the television properties to Kelly Broadcasting Co. out of Sacramento, California. By the end of the year 1999, Hearst-Argyle owned 26 TV stations, which reached about 17.5 percent of U.S. households, and they acquired seven radio stations. [2]

Hearst-Argyle became one of the first major station groups to release a policy about not airing R-rated movies during prime time television, which is also family viewing time. They announced this policy in 2000, which was a very busy year for the company. They also partnered with the Belo Corporation and LIN Television and launched Broadcast Sales Academy, in order to train future sales professionals and they later launched the Producer Academy in 2002, a training program for the companies’ news producers. Hearst-Argyle had a joint venture with Gannett Broadcasting, the NBC station group and NBC Enterprises to develop and carry syndicated programs on their stations, reaching 60% of U.S. households. Hearst-Argyle was also the first large TV station group to commit at least 5 minutes of on-air time every night to focus on election coverage, starting 30 days leading up to the elections. This charge became the foundation of the company’s “Commitment 2000” effort, which worked to provide comprehensive political-news coverage through the election cycles and this effort later earned them a consecutive number of Walter Cronkite Awards, awarded by the University of Southern California’s Annenberg School for Communication. In 2004, the former president and CEO, David J. Barrett is named by Broadcasting & Cable magazine as “Broadcaster of the Year.” This year, every single Hearst-Argyle television station completed their transition into digital television broadcasting and some of them were the first to offer video on demand for local programming. [2]

One of Hearst’s college partnerships
Source: NCAT.edu [12]

In 2006, Hearst-Argyle partnered with North Carolina A&T University or NCAT for short, to train journalism students and it was one of many internship/ training programs partnerships the company has.[2]

Financials

Hearst Corporation is #33 of Forbes List of America’s Largest Private Companies and the company has produced over $10.3 billion in revenue. [5]

Key Executives

e74fd7809dfc0ccf974669996da21c726aacb977

Jordan Wertlieb President of Hearst Television Source: Hearst.com [13]

1ef575148efddb5de969d9df818328770f18c295

Frank Biancuzzo Senior Vice President of Hearst Television Inc. Source: Hearst.com [14]

14a6aff22f4dcbce986736615852a61052f9ffc9

John J. Drain Senior Vice President of Finance at Hearst Television Inc. Source: Hearst.com [15]

e613619820579b50b4970b093b7473fd9f652243

Micheal J. Hayes Senior Vice President of Hearst Television Inc. Source: Hearst.com [16]

1d227b6136bddc83dedbe47afcde9fdf114fac31

Rodger Keating Senior Vice President of Hearst Television Inc. Source: Hearst.com [17]

c0aa5d91c1ad4b69c3ba86809577a518eba0481d

Neeraj Khemlani Co-President of Hearst Entertainment & Syndication & President of Hearst Digital Studios [18]

610e7432b4870a19eaefd55894153a21f4f6baa6

George Kliavkoff Co-President of Hearst Entertainment & Syndication & President of Hearst Ventures [19]

Entertainment & Syndication

One of Hearst’s Entertainment & Syndication brands Source: Facebook [20]

Hearst Entertainment and Syndication is a combination of cable network partnerships, television programming activities, and newspaper syndication as well as merchandise licensing operations. Their brands include A&E Networks, Awesomeness TV, Complex, Cosmopolitan Television, ESPN, Hearst Digital Studios, Hearst Entertainment, King Features, NorthSouth Productions, Reed Brennan, and United Artists Media Group.[6]

One of A&E’s popular television shows
Source: Gstatic.com [21]

One of their television brands, A&E Networks, is an award-winning, global media content company. It consists of three brands: A&E Network, HISTORY, and Lifetime. [6] Some of their most popular shows on A&E Networks are Duck Dynasty, Married At First Sight, Storage Wars, The First 48, and Intervention. [7]

United Arts Media Group

The United Arts Media Group creates programming for all media platforms offered by Hearst, including on screen, online and on-the-go. [8]

Current Programming

The Voice Promo Flyer
Source: NBC [22]

United Arts Media Group (UAMG) has created many popular programming including The Voice, Shark Tank, and Survivor. The Voice is currently in its 6th season and has crushed its show rival, American Idol, by having higher viewers and its ability to hold the attention of their key demographic of Americans aged 18-49.

Their other show, Shark Tank, is steadily growing in viewership and in the young adult segment. One of their oldest shows, Survivor, has an average of 9.5 million viewers and has just entered its 29th season. They also produced a feature film called Son of God, which generated $60 million in revenue through U.S. box office sales alone. The film also sold over 700,000 DVDs. [8]

Just this year, they released a follow-up program to the mini TV series, The Bible, called A.D., a 12-hour series that premiered on Easter. They also released a new game show on ABC called 500 Questions. FOX has purchased episodes of UAMG’s hit show, Are You Smarter Than A 5th Grader? Due to the popularity of the original show, Shark Tank, they released a spin-off called Beyond The Tank, which follows up with the startup companies after they launch. They also teamed up with MGM and Paramount to create a remake of the movie, Ben-Hur. They also worked with Open Road to create the film, Little Boy. [8]

Works Cited

History. Hearst. N.p., n.d. Web. 30 Nov. 2015.
Hearst Television History. Hearst. N.p., n.d. Web. 25 Nov. 2015.
Romper Room. TV Party. N.p., n.d. Web. 01 Dec. 2015.
Gilpin, Kenneth N. Hearst to Buy Argyle TV In a Rare Public Venture. The New York Times. The New York Times, 26 Mar. 1997. Web. 01 Dec. 2015.
America’s Largest Private Companies. Forbes. Forbes Magazine, n.d. Web. 29 Nov. 2015.
A+E Networks. Hearst. N.p., n.d. Web. 01 Dec. 2015.
All Television Shows – A&E. AETV. N.p., n.d. Web. 01 Dec. 2015.
Entertainment. Hearst. N.p., n.d. Web. 27 Nov. 2015.
Unlock Your Highest Conversion Revenue. Bounce Exchange. N.p., n.d. Web. 01 Dec. 2015.
William Randolph Hearst. Old Picture. N.p., n.d. Web. 01 Dec. 2015.
Weekly News Update. Downtown Boston. N.p., n.d. Web. 01 Dec. 2015.
STUDENT SCHEDULE. NCAT. N.p., n.d. Web. 01 Dec. 2015.
Jordan Wertlieb. Hearst. N.p., n.d. Web. 1 Dec. 2015.
Frank Biancuzzo. Hearst. N.p., n.d. Web. 01 Dec. 2015.
Bios. Hearst. N.p., n.d. Web. 01 Dec. 2015.
Bios. Hearst. N.p., n.d. Web. 01 Dec. 2015.
Rodger Keating. Hearst. N.p., n.d. Web. 01 Dec. 2015.
Neeraj Khemlani. Hearst. N.p., n.d. Web. 01 Dec. 2015.
George Kliavkoff. Hearst. N.p., n.d. Web. 01 Dec. 2015.
CosmoTV. Facebook. N.p., n.d. Web. 01 Dec. 2015.
Gstatic. N.p., n.d. Web. 29 Nov. 2015.
The Voice. NBC. N.p., n.d. Web. 01 Dec. 2015.

Disney/ABC

Posted on September 30, 2015 by Leni Weisberg

Disney|ABC Logo -Source: thewaltdisneycompany.com

Headquarters (8)

500 South Buena Vista Street Burbank, CA 91521-4581

Executives (8)

Ben Sherwood; Co-Chair, Disney Media Networks President, Disney|ABC Television Group Photo from thewaltdisneycompany.com

Ben Sherwood; Co-Chair, Disney Media Networks President, Disney|ABC Television Group
Source: thewaltdisneycompany.com

Robert Iger- Chairman and CEO of Walt Disney source: thewaltdisneycompany.com

Walt Disney – Founder of Walt Disney Company source: thewaltdisneycompany.com

In 1923, Walt Disney and his brother, Roy founded the Walt Disney Company. The company is divided into corporate divisions: Parks and Resorts, Studio Entertainment, Disney Consumer Products, Disney Interactive, and Media Networks. Today, Disney is one of the largest companies in the world providing entertainment for children, adults, and families.

The Walt Disney Company Logo Source: thewaltdisneycompany.com

In 1996, Disney merged with Capital Cities/ABC and created the Disney|ABC Media Network division. It is comprised of 8 owned and operated stations, over 240 national affiliates, 20 cable channels, and equity shares with digital over the top platforms (1).

Finances

Disney Inc. is traded on the New York Stock Exchange Company. Their shares have been high for the past three months with their most recent share price at $114.05 (2). Their average earnings per share at the end of the 2015 fiscal year was $4.90 (4) .

DIS Stock Prices from September 1, 2015 to December 1, 2015. Picture from Market Watch.

DIS Stock Prices from September 1, 2015 to December 1, 2015.
Source: Market Watch.

Disney’s Media Network’s total revenue, year-end, was $23.264 billion and the total income was $7.793 billion (1).

Broadcast

The American Broadcast Company (ABC) is a branch of Disney Media Networks and was founded in 1943 (3). The Disney|ABC Television group is comprised of several businesses including ABC Entertainment Group (ABC Entertainment and ABC Studios), ABC Television Network, ABC News, ABC Family, ABC Owned Television Stations Groups, Disney|ABC Digital Media, and Disney|ABC Domestic Television (a network that airs syndicated programming) (1).

ABC logo. -Source abc.go.com

ABC’s Primetime Fall season has been doing relatively well with high ratings (5). They have primetime programming Sunday to Friday nights and on Saturday, they air football.

ABC 2015 schedule Photo from http://abc.go.com/schedule

ABC 2015 schedule- Source: abc.go.com/schedule

ABC has ten new shows for the 2015-2016 year. Five of the ten shows including Quantico, Blood & Oil, Wicked City, Dr. Ken, and The Muppets have already been premiered. Returning shows include Modern Family, Scandal, Nashville, Shark Tank, Fresh Off The Boat, Agents of S.H.I.E.L.D., Once Upon a Time, Jimmy Kimmel Live, and more.

While new shows Quantico, Dr. Ken, and The Muppets are doing quite well and are expected to be renewed for another season (6), Blood & Oil is not doing as well and very close to being canceled and Wicked City’s ratings plummeted quickly at a record low of 1.7 million viewers in their third week, and after their third episode, it was the first show of the season to be canceled.(12).

ABC’s 10:00 pm shows Monday through Wednesday are all doing poorly (9). Castle and Nashville are shows with poor ratings and are said to be in their last seasons are both in the 10:00 pm spot and Wicked City was in that spot as well (10).

Thursday Nights primetime 8:00-10:00 pm continue to have high ratings. Thursday is “Thank God It’s Thursday Shonda Night” with popular ShondaLand shows, Greys Anatomy, Scandal, and How To Get Away With Murder. ShonaLand’s fall season is doing very well with a large following and excitement around the three shows (5).

ABC’s total revenue for the 2015 fiscal year was $6.683 billion coming from renewal of affiliate deals and advertising sales. ABC’s primetime are top spots for ad sales due to their high ratings, especially on Thursdays 8:00-10:00 pm (10). Monday through Wednesday 10:00 pm spots are not as popular, but they still sell enough ad spots (3). ABC is earning more advertising revenue during the holiday season with specials and family favorites (14).

Cable

Disney’s Media Network owns and operates 7 cable networks and has shares in 13. Owning 100% of both Disney Channels and ABC Family, 80% share in ESPN, and 50% in A&E, Disney|ABC runs 20 networks with 1,832 million subscribers total. In the 2015 fiscal year end, Disney|ABC’s cable networks had $16.581 billion in revenues from subscribers and ad sales (1).

ABC Family logo Source: abcfamily.go.com

ABC Family recently released their winter premiere dates and have begun creating buzz around the return of popular shows Pretty Little Liars, The Fosters, Baby Daddy, Young & Hungry, along with the series premiere of Shadowhunters and Recovery Road. For the month of December, ABC Family filled their schedule with holiday programming, specials and movies (11).

Disney Channel Logos Source: disneyabcpress.co

Disney Channels include The Disney Channel, Disney Junior, programming for infants and toddlers, DisneyXD, Hungama, in India, and Radio Disney. have kid-friendly programming 24/7 with holiday programming in the month of December with holiday episodes, specials, and family movies (15).

DISNEY|ABC owns 80% of ESPN, a cable network with 7 channels and over 540 million subscribers (1). ESPN is one of the top networks for sports programming available through television, over the top streaming services, and radio broadcasts (16). ESPN has high ratings and does bring in ad revenue (19).

ESPN logo Source: espn.go.com

While ESPN provides Disney with 50% of their profit, over the past two years, ESPN has lost 7 million subscribers, which will effect the company (17). As such, ESPN has spent more money on operating and program expenses with hopes to bring in more subscribers and make the experience better for their current customers (18).

Disney|ABC will continue to work on gaining more cable subscribers through advertisements and programming (18). ABC is promoting their new shows for the winter season premiering in January including The Bachelor, The Catch, The Family, and Of Kings and Profits. Disney Channel recently became available in Canada and will continue to spread into other countries (20). In addition, they are working on future projects for ABC, including a Marvel comedy, Damage Control. Disney predicts their Media Network revenue to grow from their creative original content. (1)

Hopefully ABC will produce a successful show for the 10:00 pm spot and their cable networks gain more subscribers.

Sources

(1) Disney Annual Report. Retrieved December 2, 2015.https://www.thewaltdisneycompany.com/sites/default/files/reports/fy15-form-10k.pdf

(2) Disney Stock Information. Retrieved December 2, 2015. https://www.thewaltdisneycompany.com/investors/disney-stock

(3) Media Networks. Retrieved December 2, 2015 www.thewaltdisneycompany.com/disney-companies/media-networks

(4) Walt Disney Co. Retrieved December 2, 2015. https://www.marketwatch.com/investing/stock/dis/charts?symb=DIS&countrycode=US&time=6&startdate=1%2F4%2F1999&enddate=12%2F1%2F2015&freq=1&compidx=none&compind=none&comptemptext=Enter+Symbol%28s%29&comp=none&uf=7168&ma=1&maval=50&lf=1&lf2=4&lf3=0&type=2&size=2&style=1013

(5) ABC Renew/Cancel standings, week 10: ‘Quantico’ remains safe for now. Retrieved December 2, 2015. http://tvbythenumbers.zap2it.com/2015/12/01/abc-renewcancel-standings-week-10-quantico-remains-safe-for-now/

(6) ABC Renew/Cancel standings, week 10: ‘Quantico’ remains safe for now. Retrieved December 2, 2015. http://tvbythenumbers.zap2it.com/2015/12/01/abc-renewcancel-standings-week-10-quantico-remains-safe-for-now/

(7) No TV Shows Canceled? Retrieved December 2, 2015. ttp://www.latimes.com/entertainment/tv/la-et-no-canceled-tv-shows-20151105-story.html

(8) Company Overview. Retreived December 2, 2015. http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=13728276

(9) Wicked City Cancellation. Retrieved December 2, 2015. http://www.ibtimes.com/abcs-cursed-tuesday-night-time-slot-wicked-city-cancellation-continues-three-year-2188192

(10) Fox, ABC Dramas Boast Biggest Lifts in C7 as Extended Commercial Ratings Favor the Strong. Retrieved December 2, 2015. http://adage.com/article/media/fox-abc-dramas-boast-biggest-lifts-c7/301137/

(11) ABC Family. Retrieved December 2, 2015. http://abcfamily.go.com

(12) ABC’s ‘Wicked City’ Ratings Are Historically Bad — How Low Can They Go? Retrieved December 2, 2015. https://www.thewrap.com/wicked-city-abc-tv-ratings-nielsen-drama-people-meter-disney-tax-credit/

(13) ABC Renewals. Retrieved December 2, 2015. http://tvbythenumbers.zap2it.com/2015/11/17/abc-renewcancel-standings-week-8-wicked-city-and-the-10-oclock-problem/

(14) Weekly Ratings. Retrieved December 2, 2015. http://tvbythenumbers.zap2it.com/2015/12/01/tv-ratings-monday-nov-30-2015/

(15) What’s On Disney Channel? Retrieved December 2, 2015. http://affiliate.zap2it.com/tvlistings/ZCSGrid.do?fromTimeInMillis=1449475200000&stnNum=12510&channel=&sgt=grid&aid=disn

(16) ESPN. Retrieved December 2, 2015. http://espn.go.com/

(17) ESPN Subscribers Fall. Retrieved December 2, 2015. http://www.cnbc.com/2015/11/27/disneys-espn-subscribers-fall.html

(18) Disney Feels Pain of Lost Subscribers. Retrieved December 2 2015. http://www.bloomberg.com/news/videos/2015-11-30/disney-feels-pain-of-seven-million-lost-espn-subscribers?cmpid=yhoo.headline

(19) Disney Posts Strong Ad Revenue. Retrieved December 2, 2015. http://www.mediapost.com/publications/article/262014/disney-posts-strong-ad-revenues-for-espn-abc.html

(20) Disney Channel in Canada. Retrieved December 2, 2015. http://www.theglobeandmail.com/report-on-business/corus-gains-canadian-rights-to-disney-channel-content/article23983642/