NBC’s “Today” has continued to lag behind ABC’s “Good Morning America” for 10 months now, a ratings slump that started just one week after its co-host, Matt Lauer, signed a contract with NBC said to be worth $25 million a year, the highest compensation ever on a morning show, Brian Stelter reports. Some “Today” staffers cite a lack of audience connection to Mr. Lauer as the root of the problem. Mr. Lauer’s popularity plummeted when his co-host, Ann Curry, was forced out last summer. Mr. Lauer, 55, started a belated image campaign this week, publicly stating that he thought his bosses had botched Ms. Curry’s departure, but it may be too late. Alex Wallace, the NBC News executive in charge of “Today,” said NBC wants Mr. Lauer to be host for “years to come.” The network has denied suggestions that it may replace him with a younger host like Willie Geist, 37, or David Gregory, 42.
At a lavish party for Facebook’s Sheryl Sandberg last week, some Time Inc. employees seemed rattled about the publishing company’s coming separation from Time Warner, Christine Haughney writes. Parties like this one, held at Time Warner’s headquarters, may become a thing of the past for Time Inc. as it confronts its steep financial challenges. As a stand-alone entity, the magazine publisher will face $500 million to $1 billion in debt — unlike News Corporation’s publishing arm, which will be debt-free when it separates from its parent company this year — and Time Inc.’s circulation and advertising revenue have suffered sharp declines in recent years. The company’s executives hope their newfound freedom lets them use profits to transition to a digital age rather than paying them back to a parent company.
Some good news for Spain is finally enjoying media attention, Raphael Minder reports. Blogs like Bright Spain and newspapers like Buenas Noticias (Good News) offer an alternative to the relentless pessimism about the country’s economic prospects. Buenas Noticias, which is backed by Coca-Cola and Pepsico, ignored Spain’s 26 percent unemployment rate to publish articles about companies that are recruiting workers in Spain, including Renault, McDonald’s and Telefónica, which is offering 200 internships (Telefónica also plans to lay off 5,600 workers, which the article did not mention).
The approaching end of the television season means it’s time for shows to be renewed or canceled, and leads Mike Hale to wonder: what will become of the ABC Family comedy “Bunheads”? ABC has not yet announced if it will be canceled, and the show, about life and dance in the California hills, has lost about 40 percent of its audience over the course of its season. It would be a shame to give up on a show that, beyond being charming and funny, is unlike anything else on television at the moment, Mr. Hale writes.
Joe Chetrit, a secretive property mogul in New York, could come into the spotlight on Friday with the closing of his biggest deal: the $1.1. billion purchase of the Sony Building on Madison Avenue, Charles V. Bagli writes. Mr. Chetrit outmaneuvered about 20 other bidders to secure the deal and plans to convert the building, which has served as the headquarters for ATT and Sony, into a mix of luxury condominiums, a hotel and high-end retail shops. Many experts say the deal is very risky because Sony plans to remain in the building for three years, after which it will take two years and $500 million to renovate the building. Interest rates could soar and the condo market could dry up before the building is ready in 2019.
NBC’s “Smash,” an ambitious drama about creating a Broadway production, essentially ended on Wednesday when the network announced that the show would be moved to Saturday for the remainder of its second season, Bill Carter reports. The show’s ratings have been abysmal, and the move, set to take place on April 6, basically means the show will die in obscurity. NBC said that the Tuesday slot previously held by “Smash” would be filled by the new reality dating show, “Ready for Love.”
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