Mediagazer: Magazines React to Post Office Cutbacks: ‘The Friday Evening Post’? (Christine Haughney/Media Decoder)

7:40 PM ET, February 6, 2013

Top News:

Jennifer Saba / Reuters:

News Corp posts higher quarterly revenue, profit — News Corp reported higher quarterly revenue and profit on Wednesday on strong growth at its cable networks. — The media conglomerate, controlled by Rupert Murdoch, said revenue rose 5 percent to $9.43 billion for the quarter that ended in December.

Discussion: AdAge, Sydney Morning Herald, Seeking Alpha, TheAustralian and Fox Business

BBC: News Corporation sees net income double

Edmund Lee / Bloomberg:
News Corp. Profit Exceeds Analysts' Estimates on Subscriber Fees

Discussion: Associated Press

Peter Kafka / AllThingsD:

Time Inc. Layoffs Will Cost $60 Million — Time Inc.'s move to lay off about 6 percent of its workforce will cost the company at least $60 million in restructuring charges this year. — Time Inc. corporate parent, Time Warner, disclosed the number as part of its guidance for its 2013 financials.

Discussion: mediabistro.com, B&C, Home Media Magazine, NetNewsCheck Latest, MinOnline, Folio, Adweek, @keachhagey and @mtoney

Amy Chozick / Media Decoder:

Cable TV Revenue Helps Spur Time Warner Profit — Updated The cable television business helped propel Time Warner to a 51-percent increase in net income and offset weakness in magazine publishing and movies in the three months that ended Dec. 31. — The media company said Wednesday …

Discussion: Reuters, Media & Entertainment, Bloomberg and Home Media Magazine

Eriq Gardner / Hollywood Reporter: Time Warner CEO Jeff Bewkes Addresses Netflix Competition

Georg Szalai / Hollywood Reporter:
Time Warner Reports Higher Fourth-Quarter Earnings, Raises Dividend

Discussion: @pkafka, International Business Times and Deadline.com

Ryan McCarthy / MediaFile:

Another blog post that won't make any money — It's been a strange and daunting decade for print journalism — it's now an even stranger time for web journalism. We've become accustomed to reading headlines like BuzzFeed's recent $19 million fund raising, followed by news of buyouts for veterans at the New York Times.

Discussion: @jeffjarvis, Thanks:@mccarthyryanj

Christine Haughney / Media Decoder:

Magazines React to Post Office Cutbacks: ‘The Friday Evening Post’? — Updated The magazine industry, which has already been hurt by advertising declines and the loss of readers, spent Wednesday afternoon reeling from the latest news that they no longer would be able to get magazines delivered on Saturdays.

Discussion: Poynter, The Wrap, AdAge, New Yorker, BtoB Magazine and Politico

Kara Bloomgarden-Smoke / The New York Observer:

Journalists Take Refuge in The World of Branded Content — Until December, Melissa Lafsky Wall was the editor of Newsweek's iPad edition, a job she landed on the strength of bylines in The New York Times, Salon, Wired and The Christian Science Monitor, as well as editing stints at the Huffington Post and the Freakonomics blog.

Discussion: Forbes and The Awl

Jemima Khan / New Statesman:

The inside story of how Julian Assange alienated his allies — I passed through Los Angeles recently on my way to the Sundance Film Festival. I don't know the place well, but it always feels to me as if it is in limbo and has never grown into a proper city: a municipal playground, populated by restless kidults.

Discussion: Guardian and @aljwhite

Andy Fixmer / Bloomberg:

Katzenberg Says Mobile Viewers Will Pay by ‘Inch’ — Hollywood studios will eventually charge less for entertainment streamed to small devices, basing prices on screen size, DreamWorks Animation SKG Inc. (DWA) Chief Executive Officer Jeffrey Katzenberg predicted.

Discussion: PandoDaily, eMedia Vitals, @alexpham, @bill_gross, NetNewsCheck Latest, Nxtblog and CNET

Bloomberg:

Google Said in Talks to Invest $50 Million in Vevo Site — Google Inc.'s YouTube is negotiating a $50 million equity investment in music video service Vevo LLC, according to two people with knowledge of the situation. — Google would own less than 10 percent of the company …

Discussion: VentureBeat, CNET, Silicon Valley Business …, Business Insider and FierceOnlineVideo News

Michael Calderone / The Huffington Post:

Wall Street Journal Reporters Urged To Write More Short Articles, ‘Fun Brites’ — Rupert Murdoch has always been fond of shorter articles in newspapers — something Journal staffers accustomed to writing deep, investigative stories worried about when he bought the paper in 2007.

Discussion: JIMROMENESKO.COM and New York Magazine

Henry Blodget / Business Insider:

Thank You For Aggregating Us! — I just wanted to post a quick note of thanks to every blogger, media organization, and reader who has ever shared our work and spread the word about Business Insider. — Thanks to you, we're now privileged enough to have more than 23 million unique readers a month …

Discussion: PandoDaily and paidContent

Lauren Kirchner / Capital New York:

At 50, ‘New York Review of Books’ celebrates the longevity of a magazine, and a mission — The first issue of The New York Review of Books came off the presses, famously, in February 1963, during the third month of a printers' strike that had shut down seven New York City newspapers …

Discussion: Politico and Columbia Journalism Review