Posted by Barry Silverstein on March 28, 2012 01:03 PM
The Los Angeles Dodgers brand has seen better days. Last April, a controversy exploded over the team's ownership. Not since the legendary baseball team picked up and left its beloved Brooklyn fans in the dust had the Dodgers been so battered by bad press.
It seems then-owner Frank McCourt had run afoul of Major League Baseball (MLB), who was questioning McCourt's management of the team and its finances. In fact, McCourt had a very public dispute with his wife Jamie, whom he fired in 2009 as CEO of the Dodgers. A week later, Jamie filed for divorce. A California court told the McCourts they would have to work out their Dodger dealings outside of divorce court. The whole mess went into extra innings when it was later learned that the IRS was investigating the odd couple for money they took from the team without paying taxes.
Through it all, Frank McCourt remained a Dodger stalwart. On April 27, 2011, he proclaimed, "I took my life savings and invested it into the Los Angeles Dodgers. No one handed me the Dodgers and no one is going to take it away. I'm not going anywhere." A nice sentiment, perhaps, but it didn't stop the team from entering bankruptcy in June. The MLB promptly put a monitor in place to keep a watchful eye on the Dodgers, which McCourt claimed was tantamount to a "hostile takeover."
Well, Frank, as the umpire famously screams, "Yer OUT!" On April 27, 2012, exactly a year after his infamous "I'm not going anywhere" speech, McCourt agreed to sell the Los Angeles Dodgers for $2.15 billion to another ball player, none other than LA Lakers basketball superstar Magic Johnson, heading his own team of buyers. In addition to Magic Johnson, the Dodgers' new owners will include financial services firm Guggenheim Partners, Peter Guber, head of film company Mandalay Entertainment, and Stan Kasten, former president of the Atlanta Braves and Washington Nationals. A judge needs to approve the deal, but if it goes through, the Dodgers will be sold for more money than any other professional sports team.Continue reading...
Posted by Sheila Shayon on March 9, 2012 05:46 PM
As part of its deal to acquire NBCUniversal, Comcast agreed to launch more minority-owned networks by 2014 — and it's doing just that. From a music and pop culture hub called Revolt from Sean "Diddy" Combs, to a startup backed by Magic Johnson, it's a mixed bag that helps America's biggest cable operator appease the feds — but will it really do much for diversity — or TV viewers?Continue reading...
Posted by Sheila Shayon on January 27, 2012 11:01 AM
Time Warner is a global media leader, so it needs to track media consumption patterns on behalf of its businesses, brands and advertising partners. So this week it donned a lab coat to launch the Time Warner Medialab, located in the Time Warner Center on New York's Columbus Circle, as a firsthand source of insights.
The high tech hub shows the public where media and technology is headed in its vision of "Content Everywhere," while gathering visitors' feedback on how the proliferation in digital platforms is affecting their media consumption and experience.
Separately, Time Warner Cable, which spun off from Time Warner in 2009 for an estimated $9 billion, this week announced a partnership with the New York-based Chinese-American Planning Council (CPC) as the site of the next Time Warner Cable Learning Lab.Continue reading...
Posted by Shirley Brady on January 3, 2012 05:41 PM
US auto sales for 2011 face boost by year-end holiday advertising, as global auto sales rise on Chinese demand.
Apple TV rumors generate biggest buzz heading into CES.
Bakon Vodka goes mobile.
Ben & Jerry's slated as first Facebook sponsored stories ad in users' newsfeed.
Benetton takes edgy Unhate campaign to Tripoli.
Bentley sells more cars in China than UK.
Better Business Bureau tops its own scams of the year list.
BlackBerry-maker RIM reportedly identifies replacement for co-chairmen as analysts fear the worst.Continue reading...
Posted by Dale Buss on December 19, 2011 08:50 AM
Al Gore promotes "sustainable capitalism."
Apple aims to reimagine TV and how we consume media, while graphic novel imagines Steve Jobs' design thinking.
AT&T's dream to acquire T-Mobile's US operation may be over.
Barclays enables charitable giving with the tap of a card.
BT files patent suit against Google.
Disney and Atlanta Braves are involved in a trademark dispute.
Facebook sues a different Mark Zuckerberg, sees profits hit $1B ahead of IPO.
Goldman Sachs rises as finance powerhouse.
History Channel struggles at the top.
Jersey Shore's Snooki sued by branding partner.
Morton's steakhouse chain finds a buyer.Continue reading...
let's make a deal
Posted by Sheila Shayon on December 2, 2011 02:17 PM
Verizon Wireless, the largest U.S. mobile-phone carrier, is spending $3.6 billion to buy wireless spectrum from SpectrumCo, a cable joint venture that includes Comcast, Time Warner Cable and Bright House Networks, with each receiving $2.3 billion, $1.1 billion, and $189 million, respectively, to sell their share in the JV to Verizon.
As a result of the deal, the cable operators will resell Verizon Wireless service instead of operating their own wireless brand in SpectrumCo. Or as the New York Times puts it, "Instead of creating its own wireless services, Comcast, Time Warner Cable and Bright House will market Verizon’s service, and in turn Verizon will market the cable companies in their respective local markets."
Verizon is hungry for more airwaves to accommodate increasing consumer demand from mobile devices to watch video and browse the Internet, and the deal will yield 122 Advanced Wireless Services (AWS) licenses, improving 4G services to its customers. "Spectrum is the raw material on which wireless networks are built, and buying the AWS spectrum now solidifies our network leadership into the future," stated Dan Mead, president and CEO of Verizon Wireless.
Comcast, Time Warner Cable and Bright House will be able to provide wireless service to customers via Verizon’s network and Verizon Wireless is free to sell their products, including pay-TV, in its stores.
It’s also the end of a dream for the three U.S. cable operators to create and manage their own wireless network. "It's really hard for a cable company to expect to compete in a highly competitive wireless market," commented Time Warner Cable spokesman Alex Dudley to the Wall Street Journal. "We got a good price for the spectrum. An arrangement like this makes a lot of sense."Continue reading...
Posted by Dale Buss on August 16, 2011 08:59 AM
American Media, publisher of National Enquirer, no longer is for sale.
Barney’s teams with Lady Gaga for holidays.
Bloomberg BusinessWeek launches global editions.
Cargill to buy Provimi and extend its reach in animal food.
Caterpillar faces increased competition from Chinese heavy-equipment makers in U.S. market.
Cathay Pacific campaign doesn’t mean “make you feel special” that way.
Dr. Scholl’s sells footwear in addition to foot care.
Estee Lauder sounds caution about consumer spending on cosmetics.
Google purchase of Motorola will heavily affect advertising industry; deal leaves BlackBerry's Research in Motion in “no-man’s land.”Continue reading...
Posted by Dale Buss on August 15, 2011 09:00 AM
World markets are in a new danger zone, head of World Bank says, but the markets notched solid gains early on Monday.
AOL finds content growth comes at a cost
BNY Mellon accused of favoritismin Florida suit.
CNBC gets a bounce from covering stock-market ills.
Dick’s Sporting Goods supports concussion testing of high-school athletes.
Google to buy Motorola Mobility in largest acquisition.
Lowe’s cuts view of prospects.
Ralcorp rejects latest takeover bid by ConAgra.Continue reading...