US-INDUSTRY Summary

News Corp results beat estimates, spin-off on track

(Reuters) - Rupert Murdoch's News Corp reported quarterly earnings that beat Wall Street expectations, aided by growth at its cable networks, and said it is on track to split off its slow-growing publishing business by the end of June. Its revenue rose 14 percent from a year earlier to $9.5 billion in the quarter, ended March 31, News Corp said on Wednesday. The company posted adjusted earnings of 36 cents per share, just beating the 35 cents expected on average by analysts, according to Thomson Reuters I/B/E/S.

Viacom says Cablevision bundling lawsuit should be tossed

(Reuters) - Viacom Inc said on Wednesday an antitrust lawsuit by Cablevision Systems Corp accusing it of forcing cable providers and subscribers to buy channels they don't want, should be thrown out. The owner of MTV and Nickelodeon contended that Cablevision should be bound by its contract, and should not be allowed to take a legal position it had recently opposed in a similar case.

Ex-Murdoch stalwart Mockridge to run rival Virgin Media

LONDON (Reuters) - Tom Mockridge, who worked closely with Rupert Murdoch in more than 20 years at News Corp, is to take over at Virgin Media, pitting the two men against each other in a battle for British pay-TV viewers. Mockridge will take his in-depth knowledge of Europe's media market to work with Murdoch's veteran American rival John Malone just five months after the New Zealander walked out of News Corp in frustration at being passed over for a top job in New York.

"Walking Dead" breathes life into AMC results

(Reuters) - AMC Networks Inc reported quarterly results above analysts' estimates as more people watched the cable operator's shows, particularly "The Walking Dead", sending its shares up as much as 9 percent to a two-year high. Viewership of The Walking Dead's third season jumped 55 percent from that of the previous season. The season finale in March saw 12.4 million total viewers, including 8.1 million from the 18-49 demographic coveted by advertisers.

AOL shares sink as its websites still lose money

(Reuters) - AOL Inc shares tumbled 10 percent on Wednesday after it posted another loss in its content group, reviving concerns that the company's profits were still mostly coming from a shrinking dial-up platform. The stock's plunge was the second-worst decline in 18 months, and follows what had been a 67 percent rise over the last year.

Quebecor profit halves as media revenue falls

(Reuters) - Canadian media and telecommunications conglomerate Quebecor Inc's first-quarter profit halved due to higher costs, a sharp drop in media revenue and lower gains on financial instruments. On an adjusted basis, the company earned 53 Canadian cents per share, far below the 62 Canadian cents analysts had expected.

Murdoch's News International in talks to occupy Shard neighbor

LONDON (Reuters) - Rupert Murdoch's News International is in talks to occupy the whole of an empty office block at the foot of London's Shard, Western Europe's tallest skyscraper, two sources told Reuters. News International, part of the News Corp media empire that publishes British newspapers The Sun and The Times, is negotiating a lease for a 430,000 square foot building called The Place, which, along with its taller and more famous neighbor, was funded by the state of Qatar.

Disney's profit rises on parks, 'Oz' movie

LOS ANGELES (Reuters) - Media giant Walt Disney Co reported a 32 percent increase in profit that beat Wall Street expectations, boosted by higher spending and attendance at U.S. theme parks, and the movie box office success of "Oz the Great and Powerful." Revenue for the company that operates cable networks, theme parks and a movie studio increased 10 percent to $10.6 billion. At the parks division, revenue gained 14 percent and operating income climbed 73 percent as resorts in Florida and California attracted more visitors and guests spent more.

Demand Media revenue and profit beat estimates

(Reuters) - Demand Media reported on Tuesday better-than-expected first quarter revenue and profit on growth at its media websites like eHow, Livestrong and Cracked. Demand Media makes its money in two ways. In its media business, freelance writers, photographers and videographers provide articles and videos designed to appear at the top of Internet search that in turn generate advertising. The other is a registrar business that maintains top level generic web domain names like ".actor" and ".social."

Gloomy outlook persists for newspaper publishers Torstar and Quebecor

(Reuters) - Canadian newspaper publishers Torstar Corp and Quebecor Inc delivered more bad news to investors on Wednesday, saying that cost cuts were failing to keep pace with an accelerating decline in print media revenue. Torstar shares fell as much as 9 percent to a three-year low after it reported a worse-than-expected 76 percent drop in first-quarter profit and a 6 percent fall in revenue from its media business.

Source: http://news.yahoo.com/us-industry-summary-005949082.html

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