March 29, 2024

Cesar Conde of Univision Leaves for NBCUniversal

Mr. Conde initially will be an executive vice president at the company. In a news release, NBCUniversal said he would “focus on business development, strategic priorities and special business projects” across the sprawling company, which includes the Spanish-language broadcaster Telemundo along with the English-language broadcast network NBC, cable channels including USA and Bravo, and Universal Studios.

Associates of Mr. Conde said this was likely to be a holding position of sorts — a precursor to a more specific appointment. A spokeswoman for NBCUniversal declined to comment on that prospect, but said that Mr. Conde’s role would not involve oversight of Telemundo, signaling a break from his decade in Spanish-language television.

Stephen B. Burke, the chief executive of NBCUniversal, to whom Mr. Conde will report, said in a statement, “His experience leading multiple domestic and international businesses will be instrumental in maximizing all the opportunities to grow our portfolio.”

Mr. Conde’s move comes at a time when his boss at Univision, Randy Falco, himself a former NBC executive, has been consolidating power. Mr. Falco was promoted to chief executive of Univision in mid-2011, succeeding Mr. Conde’s mentor, Joe Uva, who is now at Telemundo.

One of Mr. Conde’s associates said he was tempted by the opportunity to work for a media company larger than Univision. While Univision is the largest Spanish-language broadcaster by far, and is growing quickly, it does not have the scale of NBCUniversal.

A Univision news release on Friday said that Mr. Conde had “announced he is resigning to pursue opportunities in English-language media.” Mr. Falco said he would not name a new president of the networks; instead, three executives will start reporting to him directly in a structure that he called “more nimble.” The executives are Alberto Ciurana, who manages programming and content; Isaac Lee, who oversees news; and Juan Carlos Rodriquez, the head of Univision sports.

Article source: http://www.nytimes.com/2013/09/14/business/media/cesar-conde-of-univision-leaves-for-nbcuniversal.html?partner=rss&emc=rss

Media Decoder Blog: CBS Reports Record Operating Income for 4th Quarter

The CBS Corporation set records in the fourth quarter for operating income and adjusted operating income, the company said Thursday, but the results were short of some analysts’ expectations and its share price fell in after-hours trading.

The adjusted net earnings of $414 million produced earnings of 64 cents a share, also a quarterly record for CBS, though some analysts had forecast income as high as 69 cents.

CBS, which reported full-year results for 2012 as well as for the quarter ending Dec. 31, also announced an additional stock buyback of $1 billion. That brings the total amount of stock CBS has committed to repurchasing for the current year to $2.2 billion.

Over all, CBS demonstrated improved results in most financial categories and divisions. Revenues for the quarter rose to $3.7 billion, up 2 percent from $3.61 billion for the comparable quarter in 2011.

The company reported net income of $393 million, or 60 cents a share, up 6.2 percent from $370 million, or 55 cents a share, in the fourth quarter of 2011.

CBS cited increases in advertising revenue in the quarter, partly driven by political commercials in an election year. The CBS broadcast network continues to be the most watched in television and will most likely beat all its competitors in the significant ratings categories for the current season.

The company also had increases from subscription fees, driven by improvement in its cable networks. Showtime, the pay-cable channel owned by CBS, has experienced growth in subscriptions, thanks in part to its award-winning drama “Homeland.” CBS has pressed for years for increased compensation from cable systems for the rights to carry CBS broadcast stations, and Thursday the company reported that retransmission fees were also up for the quarter, part of 9 percent growth overall in affiliate and subscription fees.

Adjusted operating income before depreciation and amortization increased 6 percent to $866 million, from $814 million the year before. Operating income increased 12 percent to $726 million, up from $647 million.

For the full year CBS also produced some encouraging results. The company reported revenue of $14.09 billion, up 3 percent from $13.64 billion in 2011. Adjusted income increased to $3.49 billion from $3.16 billion. Operating income of $2.98 billion was up from $2.62 billion in 2011. All represented new highs for CBS.

One troubling area was publishing. Revenue decreased at CBS’s Simon Schuster unit, to $215 million from $229 million in 2011. CBS attributed the drop to decreasing print book sales that could not be offset by increasing e-book sales.

CBS reported its financial results after the stock market closed. In after-hours trading, its stock fell 44 cents, to $42.50.

Article source: http://mediadecoder.blogs.nytimes.com/2013/02/14/cbs-reports-record-quarterly-operating-income-for-fourth-quarter-of-2012/?partner=rss&emc=rss

Media Decoder Blog: CBS Reports Record Quarterly Operating Income for Fourth Quarter of 2012

The CBS Corporation set records in the fourth quarter for operating income and adjusted operating income, the company said Thursday, but the results were short of some analysts’ expectations, causing its share price to fall slightly in after-hours trading.

The adjusted net earnings of $414 million produced earnings per share of 64 cents, also a new quarterly record for CBS, though some analysts had forecast a price as high as 69 cents.

CBS, which reported full-year results for 2012 as well as for the quarter ending Dec. 31, also announced an additional stock buyback of $1 billion. That brings the total amount of stock CBS has committed to repurchasing for the current year to $2.2 billion.

Overall, CBS demonstrated improved results in most financial categories and divisions. Revenues for the quarter rose to $3.7 billion, up 2 percent from $3.61 billion for the same quarter in 2011. Net earnings were

CBS cited increases in advertising revenue in the quarter, partly driven by political commercials in an election year. The CBS broadcast network continues to be the most watched in television and will likely beat all its competitors in the significant ratings categories for the current season.

The company also saw increases from subscription fees, driven by improvement in its cable networks. Showtime, the pay-cable channel owned by CBS, has experienced growth in subscriptions, thanks in part to its award-winning drama “Homeland.” CBS has pressed for years for increased compensation from cable systems for the rights to carry CBS broadcast stations, and Thursday the company reported that retransmission fees were also up for the quarter, part of 9 percent growth overall in affiliate and subscription fees.

Adjusted operating income before depreciation and amortization increased 6 percent, to $866 million from $814 million the year before. Operating income increased 12 percent to $726 million, up from $647 million.

For the full year CBS also produced some encouraging results. The company reported revenues of $14.09 billion, up 3 percent from $13.64 billion in 2011. Adjusted income increased to $3.49 billion from $3.16 billion. Operating income of $2.98 billion was up from $2.62 billion in 2011. All represented new highs for CBS.

One more troubling area was publishing. CBS’s Simon Schuster unit experienced a decrease in revenues, to $215 million from $229 million in 2011. CBS attributed the drop to decreasing print book sales that could not be offset by increasing e-book sales.

Article source: http://mediadecoder.blogs.nytimes.com/2013/02/14/cbs-reports-record-quarterly-operating-income-for-fourth-quarter-of-2012/?partner=rss&emc=rss

Television: Late-Night TV Shows Face a Difficult Future

“I was so psyched,” he said. And why not? There were tears of joy flowing not in his studio but in the aisles of his offices at NBC at the big news: His two-year-old show had grabbed one of the Emmy nominations for a variety, music or comedy series in the intense competition among the crowded field of late-night entries.

“It means so much for a show this young,” said his executive producer, Michael Shoemaker, who worked on “Saturday Night Live” before joining the Fallon show. “I’ve been in this category before. It’s a big deal to get in that club. It’s so tough. Shows go in and out.”

What was also notable was that while Mr. Fallon was in, David Letterman was out, and so was Jay Leno. Mr. Fallon was the only late-night host nominee representing a broadcast network. The rest came from cable: Jon Stewart, Stephen Colbert, Conan O’Brien and Bill Maher. (The winner is scheduled to be announced next Sunday.)

“It was surprising,” said Michele Ganeless, president of Comedy Central. “The Emmys’ history is that they are a very traditional organization. I think it says that people are looking for fresh ideas in late night.”

The continuing Elizabethan history play that is late-night television has begun to settle since the implosion of last year. That’s when Mr. O’Brien was unseated from the “Tonight” show throne, and Mr. Leno took back the chair after an ill-conceived effort to move to 10 p.m., while Mr. Letterman lobbed in pointed japes from the sidelines. But while most network executives publicly express nothing but happiness with how things stand since that descent into chaos, unease remains under the surface. The future of some of the nobles appears clouded, and the late-night landscape is clearly undergoing what may well be a long-term shift, one greatly complicated by changing viewing habits, the rise of social media and the high cost of production.

The young male viewers who have always been the core of the post-11 p.m. audience are now pulled by many other choices — the “Adult Swim” shows on the Cartoon Network have become a real factor — and they are more likely than ever to shrug off watching the shows when they are broadcast in favor of clips available elsewhere. While that trend gives late-night segments cultural buzz on the morning after, it also casts a shadow over ratings, which can be sliced into segments favorable to anyone or deemed altogether irrelevant.

It is not that audiences aren’t there anymore. Including “Nightline,” ABC’s news entry, which has been thriving recently, the late-night offerings still typically total well over 12 million viewers. And beyond Mr. Fallon, whose ratings have improved, several others are strong, led by Mr. Stewart and Mr. Colbert, on Comedy Central, who continue to expand their reach and influence. Jimmy Kimmel on ABC has added viewers in the past year. And Chelsea Handler on E! is riding strong numbers with female viewers to a more competitive position. (Notably she has beaten Mr. O’Brien several weeks this summer.)

But in some quarters, particularly the more established network shows, the aftermath of the turbulence lingers.

When TBS canceled the midnight show hosted by George Lopez, it was hardly a shocker; ratings were low and dropping. But it renewed some questions that many producers and executives have been asking. Some veteran players have suggested, for example, that the familiar and expensive format — host, monologue, band, couch, guests — so durable for more than 50 years, is threatened by oversaturation and technological revolution at the same time. There’s a reason Mr. Fallon is credited with being the most adventurous of the hosts: He devotes considerable time and resources to incorporating digital ideas into his comedy, focusing especially on social media, a second home for many in his heavily college-based audience. But even with Mr. Lopez gone, Mr. Fallon’s show is one of nine with similar formats occupying the 11 p.m. to 1:30 a.m. hours.

It shouldn’t be surprising that Mr. Leno and Mr. Letterman, the two hosts who have claimed the prime real estate since the 1990s, are not drawing audiences as they used to. Nothing in television is. That “Tonight” continues to have the biggest overall audience is a testament to the power of the franchise as well as Mr. Leno’s indefatigability.

But as he has throughout his career Mr. Leno is working hard to draw the widest possible audience. The best recent example: Heeding suggestions from NBC, Mr. Leno altered a routine going back to the days when he filled in for Johnny Carson, using his best regular comedy bit, Headlines, on Monday nights. Now the bit runs every Tuesday. Why? Because with “The Voice” and “America’s Got Talent,” NBC built a potent Tuesday night in prime time, and “Tonight” needed to take better advantage of that lead-in audience, a crucial factor for every late-night host. But Mr. Leno has hardly returned to the level of dominance he enjoyed before being ripped from the only job he ever wanted. Since 2008 the last full season before the upheaval, he is down 30 percent among the younger-adult viewers that make up the advertiser target in late-night TV.

Things are even worse for the other late-night royal, Mr. Letterman. The summer has seen a string of weeks with the smallest audiences of his long, highly regarded career. He has suffered in part from not having a “Voice”-type lead-in; CBS’s summer repeats at 10 p.m. have fallen off sharply. But his ratings were eroding even before that. While Nina Tassler, president of CBS Entertainment, has nothing but praise for Mr. Letterman and his late-night follow-up, Craig Ferguson, calling them “still the two best guys in late night,” some Letterman supporters in and outside the network express dismay at the ratings dip.

Article source: http://feeds.nytimes.com/click.phdo?i=a69ff2e9f88b28f539a4fbafe3268b61

CBS Reports Quarterly Profit More Than Doubled to $395 Million

The company, which owns the CBS broadcast network and the Showtime premium cable network among other assets, posted net income of $395 million in the quarter, up from $150 million in the same quarter last year.

Analysts predict that the strong showing by CBS is likely to be repeated by the other major media companies that will report second-quarter earnings this week and next.

Reassuring investors who have wondered about the strength of the advertising sector at a sour time for the broader economy, Leslie Moonves, the chief executive of CBS Corporation, said there was no comparing the mood of the marketplace now with the period in 2008 when advertisers retreated as the recession sank in.

“We’re not seeing anything like that — like we felt three years ago,” he said, answering an analyst’s question on a conference call Tuesday afternoon.

Describing increased demand for advertising time on CBS shows, Mr. Moonves said the recent end to the NFL lockout was a “big shot in the arm to us and to our advertisers.” CBS begins televising football games late in the third quarter of each year.

Historically, CBS has been the most dependent on advertising revenue of the major media companies. On Tuesday, Mr. Moonves emphasized how the company was “derisking its business model” by diversifying revenue sources. Total revenue for the quarter was $3.59 billion, up from $3.33 billion a year ago.

“CBS is a fundamentally different company today than we were just a few years ago,” he said, referring to the changing mix of revenue.

For the quarter, advertising revenue — still the biggest piece of revenue by far — grew 3 percent to $2.2 billion, while content licensing and distribution revenue grew 21 percent to $889 million. Mr. Moonves said Netflix’s licensing of old CBS shows like “Star Trek” and “Cheers” this year had contributed to the gains.

Last month, the two companies agreed to extend that arrangement to Canada and Latin America, but that was not reflected in the earnings, nor was Amazon’s licensing of old CBS shows, which was announced last week.

Benjamin Swinburne and Micah Nance of Morgan Stanley said Tuesday in a report that the two recent deals “highlight the continued opportunity for content owners to monetize current and library TV inventories.”

Affiliate and subscription fees, another center of growth for CBS and other media companies in recent years, grew 12 percent to $426 million for the quarter. The one segment of CBS to post a decline was publishing, which was down 3 percent to $183 million. CBS said that what it characterized as “strong growth in the sale of more profitable digital content” was offset by lower sales in print.

CBS shares fell 3.7 percent on Tuesday to close at $26.28.

Notably, CBS’s local television and radio stations posted a 2 percent increase in revenue for the quarter over a year ago, even though even-numbered years like 2010, when there is an influx of political spending, typically outperform odd-numbered years.

The increase also occurred despite what Mr. Moonves called a “temporary slowdown in Japanese auto spending” because of the earthquake and tsunami in March. As that spending returns, he said, “we feel very good about this category going forward.”

Article source: http://feeds.nytimes.com/click.phdo?i=651129111a1b0885bff2f4c322d4d6ce