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Tag: Jeff Bewkes

  • Fox or Time Warner, who will blink first?

    Fox or Time Warner, who will blink first?

    BENGALURU: If it had gone through, it would have been the second largest media deal ever in the history and created a mega media powerhouse, but Time-Warner rejected Rupert Murdoch’s 21st Century Fox offer allegedly worth about USD 76 billion cash and stock. Time Warner CEO Jeff Bewkes said that its board had decided such a deal would not be in the ‘best interests’ of his company or its shareholders. 

     

     Industry experts however expect Murdoch to make an improved offer, considering the fact that the media landscape is undergoing huge shifts. Murdoch has to gain scale as Pay TV distributors such as AT&T and Comcast are getting bigger and bigger through acquisitions, also Murdoch — is not known for backing off once he has set his sights on a company.

     

    21st Century Fox had offered to buy Time Warner for USD 32.42 in cash and offered a ratio of 1.531 Fox class-A share for each Time Warner share. That, says Fox Business, a 21st Century property, equates to around USD 86 a share, or USD 76 billion. The combined company would sport revenues of USD 65 billion, and control a slew of television channels like Fox, TNT, and HBO, along with movie studios 20th Century Fox and Warner Bros.

     

    Over the past few years, Time Warner has shorn off non-core business such as cable, internet and publishing and comprises a group of television and movie companies and has seen its stock price triple over the last five years.

     

    Last month on completing the spin-off of Time Inc., Bewkes said: “The spin-off of Time Inc. completes the process we began several years ago to position Time Warner as the world’s leading video content company.  Our strategy reflects our commitment to delivering strong returns to our shareholders as we light up the world with the best storytelling.  The spin-off gives Time Warner even more focus as we continue to deliver on this strategy.”

     

    A few days before the Time Inc., spinoff, as part of the studio’s television growth strategy, Times Warner subsidiary Warner Bros. Television Group (WBTVG) had announced that, following receipt of regulatory approvals, it had completed its acquisition of all Eyeworks’ businesses outside the US, in 15 countries across Europe, South America, Australia and New Zealand, adding 13 new territories to its international network of production companies. The company said that the Eyework acquisition further strengthened Warner Bros.’ international television production capabilities and sees Warner Bros. take over all of Eyeworks’ international distribution activities for both formats and finished product.

     

    The largest media deal so far was the Time Warner-AOL merger in 2000-01 worth USD 164 billion and was once considered as one of the biggest ‘mistakes’ in corporate history by Bewkes.

     

  • Facebook, Time Warner expand bullying prevention campaign

    Facebook, Time Warner expand bullying prevention campaign

    MUMBAI: Online social network Facebook and US media conglomerate Time Warner are bringing together and expanding their individual efforts against bullying to launch a wide-ranging, major cross-platform partnership initiative called Stop Bullying: Speak Up.

    The multi-media campaign, named after the original anti-bullying initiative by Time Warner‘s Cartoon Network, will integrate broadcast, print, online and social media to ignite a conversation to educate parents, teachers and youth about the actions that will help protect young people from the impact of bullying.

    This partnership is the latest in a line of initiatives from both Facebook and Time Warner Inc. to prevent bullying. Earlier this year, Facebook unveiled its newly designed Family Safety Center and a ‘Social Report Tool,‘ which enables people to report bullying or harassment to parents, teachers or trusted friends.

    CNN, Cartoon Network and Time combined their on-going efforts and resources last year for a national multi-platform campaign, which included the CNN program, Bullying: No Escape; an AC 360 Special Report with People and Cartoon Network, hosted by Anderson Cooper.
     
    Time Warner chairman and CEO Jeff Bewkes said, “For the past two years, we‘ve been working closely with Facebook to expand the bullying prevention campaign that was started by our own Cartoon Network, and includes several of our other leading brands. In partnering with Facebook for the next phase of our effort, we will now be able to communicate this important message to an even broader audience. I‘m confident that through our multiplatform approach and combined resources we can inspire even more people to take action against bullying.”

    Facebook COO Sheryl Sandberg said, “We care deeply about the safety of our nation‘s children and are proud to be partnering with Time Warner to raise awareness of bullying. We believe that by working together with parents and teachers, we can teach young people to speak up and stop bullying.”

    The announcement comes after the recent White House Convention on Bullying Prevention, which was attended by policymakers and representatives from the media industry, nonprofit and education communities.

    As part of the initiative, Facebook and Time Warner Inc. will leverage the reach, depth and social connections of each of their properties.

    The campaign will now include:

    CNN‘s Anderson Cooper 360° Town Hall – Anderson Cooper will host a second town hall-in partnership with Time Warner and Facebook-dedicated to discussing the current bullying issues confronting kids today as well as discussions with certified experts to teach adults on coping with this epidemic.

    The special hour is scheduled to air on CNN in October as part of Bullying Prevention Month, with additional pieces and reports leading up to it.

    Facebook‘s Social Media Pledge- An interactive Stop Bullying: Speak Up Social Pledge App that will enable educators, parents, and kids to make a personal commitment-and recruit others to join them-to help stop bullying. The App is scheduled to launch in time for the Fall 2011 back-to-school season.
     

  • Time Warner hires NBC’s Randy Falco as CEO of AOL unit

    Time Warner hires NBC’s Randy Falco as CEO of AOL unit

    MUMBAI: Time Warner Inc. has hired NBC Universal Television group president Randy Falco as chairman and chief executive officer of its AOL unit, replacing Jonathan Miller.

    The announcement was made by Time Warner Inc.’s chairman and CEO Richard D Parsons and president and COO Jeff Bewkes, asserts an official release.

    Commenting on Falco’s appointment Parsons said, “Jeff Bewkes and I are very pleased that a top operating executive of Randy Falco’s expertise and experience will be leading AOL into its next stage of development. A key to Time Warner’s digital future, AOL is showing early success in transitioning to an advertising-focused business model, and Randy is a first-rate choice to ensure AOL realizes its promise.”

    As president of NBC’s broadcast and network operations division, Falco was in charge of the facilities and operations of the NBC television network worldwide, adds the release.

    Falco added, ” My challenge will be to execute on the strategy that I believe will make AOL once again the leader of the online world. I see a tremendous opportunity for meaningful growth at AOL and will work hard with the fine people at AOL to make sure the company lives up to its full potential.”

    Time Warner, parent of AOL is a US based integrated media and communications company whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing.

    Based in Dulles, Virginia, AOL is a global web services company that operates web destinations, runs the country’s Internet access business, and provides a full set of advertising solutions.

  • Time Warner to offer AOL service free-of-cost

    Time Warner to offer AOL service free-of-cost

    MUMBAI: What is perceived as a last ditch attempt to save its sinking internet business initiative AOL, Time Warner has decided to switch the service to free-to-access mode from September.

    With this move, AOL will attempt to transform itself into a full-fledged online media business venture, banking purely on advertising revenue and competing directly with rivals in this space Google, Yahoo and MSN. Approximately $2 billion subscriber revenue, which the company will miss now with the move, is expected to be made up in advertising.

    Time Warner will be implementing the free service in September this year. Former customers will be able to reactivate their accounts for free when the effort takes effect in September. According to industry estimates, AOL has lost a third of its subscribers since 2002.

    This is the next logical step for AOL to capitalize further on the explosive rise in broadband usage and online advertising. With its robust and rapidly expanding advertising operation, we expect to put AOL back on a growth path,” Time Warner president Jeff Bewkes has been quoted in media reports as saying.

  • Time Warner buys Liberty Media’s Court TV for $735 million

    Time Warner buys Liberty Media’s Court TV for $735 million

    MUMBAI: Media conglomerate Time Warner has acquired Liberty Media Corporation’s half of Courtroom Television Network LLC, the owner of Court TV, for $735 million.
    Time Warner now owns Court TV in its entirety. Court TV will operate as part of Turner Broadcasting System Inc., within its entertainment division, under the direction of entertainment group president, Mark Lazarus.

    Time Warner’s Turner Broadcasting unit, also manages a large group of cable networks including CNN, Turner Classic Movies and the Cartoon Network.

    Seen in 86 million households, according to an official release, Court TV covers all aspects of the US system of justice. It is the leading producer of original programming in the crime and justice genre as well as other content, which appear on its network and popular Web sites as well as, increasingly, new distribution platforms.

    Time Warner chairman and CEO Dick Parsons said, “Acquiring all of Court TV represents a strategic investment in one of Time Warner’s most successful lines of business – our news and entertainment cable networks. We’re confident that Court TV will continue its top-notch performance and become an important contributor to our growth. We look forward to working with our friends at Liberty Media in the future.”

    Liberty chairman John C. Malone said, “We have enjoyed our long association with Court TV and its exceptional management team. The business has created tremendous value for our shareholders. We wish Henry Schleiff and his team well and have no doubt Court TV will continue its strong track record of success and value creation for Time Warner’s shareholders.”

    Henry Schleiff, who served as Court TV’s chairman and CEO, will be the network’s non-executive chairman for the next six months, focused on Court TV’s transition to Turner and the network’s public service initiatives.

    Liberty president and CEO Gregory B Maffei said, “We’ve enjoyed building Court TV with Henry and Time Warner, and we’ll welcome the opportunity to work together again. Liberty is pleased with the value created for our shareholders by this business and transaction.”

    Time Warner president and COO Jeff Bewkes said, “Let me express our appreciation to Henry Schleiff for his keen vision and inspired leadership at Court TV. Court TV has made outstanding progress in its programming, marketing and distribution operations. Turner’s presence and relationships will help us further strengthen Court TV’s competitive position.”

    Turner Broadcasting System chairman and CEO Phil Kent said, “Court TV’s established brand, programming franchises and robust new media extensions complement our successful branded entertainment and news networks and businesses. This integration into Turner will ensure Court TV’s future growth and success, as well as make our portfolio stronger.”