Viacom stock, which has dropped about 70% this year, will rise on guaranteed subscriber revenue and brands such as Nickelodeon, Multichannel News says, citing Pali Research analyst Richard Greenfield. The stock, which has been sold off largely because of concerns…
CNBC is cutting about 10% of its budget amid the best ratings in its 19-year history because of parent company NBC Universal’s attempt to reduce expenses by $500 million, Broadcasting & Cable reports. The network is reducing some expenses related…
Cablevision has requested the Federal Communications Commission to approve a plan that would prevent programmers from insisting that cable companies ensure carriage to a prescribed number of customers, Multichannel News reports. Cablevision Chairman Charles Dolan said last week that cable…
Television advertisers may take dollars from Internet-display advertising by targeting specific local markets, Broadcasting & Cable reports, citing an interview with David Verklin, chief executive officer of cable-advertising consortium Canoe Ventures. Additional revenue for Canoe may be derived from services…
Sumner Redstone is expected to announce the sale of his controlling stake in Midway Games, the Wall Street Journal reports. Mr. Redstone, who also controls Viacom and CBS, is in negotiations to restructure his family’s $1.6 billion debt and has…
Consultant Duane Lammers, known as “The Hammer.” has been helping station groups fight for cash in their retransmission consent negotiations with cable operators, Multichannel News reports. He’s not beloved by his opponents. “The system allows broadcasters like Lammers to negotiate…
Steve Buscemi and Kelly Macdonald are in talks to star in Martin Scorsese’s HBO drama pilot “Boardwalk Empire,” the Hollywood Reporter says. Buscemi would play a liquor store owner running a distribution ring and Macdonald would play a young woman…
Comcast is lobbying Philadelphia city council members to try to slow down Verizon’s efforts to build its FiOS TV network in the cable giant’s hometown, Philadelphia Metro reports. “I can understand they [Comcast] want this thing to be handled how…
“Project Runway” winner Christian Siriano has made a deal with Payless ShoeSource to distribute a line of low-priced shoes and handbags, the New York Post says. “I have a pretty huge fan base, not to toot my own horn,” Siriano…
CNN is holding a Newspaper Summit this week to discuss plans to broaden the news service its been offering local papers for the past month, the New York Times reports. The CNN service compete with the Associated Press, whose members have…