News Corp. allots $1B for Internet buys

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News Corp. last week outlined a plan to set aside $1 billion for Internet-related acquisitions. The company, which reported earnings for its fiscal fourth quarter Aug. 11, said its growth would come through leveraging its strength in local content via the Internet. News Corp. also reported a 67% increase in net income to $717 million up from $429 million for the quarter last year. Full-year net income was $2.1 billion. The company's increased profits were driven largely by gains in the cable sector. The cable unit, which includes Fox News Channel and FX, reported quarterly operating income of $137 million, up $17 million over the previous year's quarter. The company's fiscal year ended June 30. Ad QwikFIND aaq82w

Goodyear puts ad, media biz into review

Goodyear Tire & Rubber Co. is putting both parts of its U.S. account into review, according to executives familiar with the matter. The move comes just over a year since the tire marketer consolidated advertising duties with Arnold Worldwide, Boston, and media buying and planning with Havas sibling MPG, New York. A spokesman for Goodyear, Akron, Ohio, said the marketer is conducting an "internal review of every element of our marketing-communications lineup to determine what best fits our future needs." A spokeswoman for Arnold declined to comment, as did a spokesman for MPG. Goodyear spent $66 million on measured media in the U.S. in 2004, according to TNS Media Intelligence. QwikFIND aaq82q

Jennings remembered in ad-free ABC special

Walt Disney Co.'s ABC on Aug. 10 broadcast a commercial-free memorial program celebrating the life of "World News Tonight" anchor Peter Jennings, who died last week after a four-month battle with lung cancer. He was 67. The special ran in place of the network's "Brat Camp" and was rated No. 2 in its time slot. ABC has not said who will replace him, though "Good Morning America" anchor Charlie Gibson is the front-runner. ABC however might have a problem in tinkering with its line-up at GMA given the in-roads it made last season against rival "Today." QwikFIND aaq82d

ABC net income rose 41% for its third quarter

ABC has held back a significant amount of its best inventory for the scatter market, according to Disney CEO-elect Bob Iger who praised ABC for predicting the advertising market accurately. Disney Co. reported buoyant fiscal-third-quarter results Aug. 9, reporting net income rose 41% from $604 million to $851 million compared with the third quarter last year. Media Networks revenue grew 16% with operating income at the cable networks segment up some 38% to $729 million. In the broadcasting segment, operating income increased to $269 million, up from $144 million, because better ratings, reduced costs and higher ad rates. The bad news for Disney was the movie segment: Studio revenue was down 15% to $1.5 billion. QwikFIND aaq82t

Ford, Lincoln Mercury to consolidate sales, marketing

Ford Motor Co. will consolidate the North American marketing and sales operations of its Ford Division with its Lincoln Mercury arm. A spokeswoman said each will keep their respective ad agencies to keep the brands separate. "There will be some involuntary separations" among the 3,500 U.S. staffers now in those areas, a spokeswoman said. Still undetermined, she said, is who and how many staffers will be moved from national marketing jobs into the field, since Ford will begin putting marketing people in the field. Ford is trying to cut costs after reporting its North American auto operations lost nearly $1 billion in the second period, dragging down corporate profits. QwikFIND aaq82n

Interpublic will delay its quarterly report

Interpublic Group of Cos., in a Securities and Exchange Commission filing last week, confirmed it would delay filing its quarterly report for the quarter ending June 30 until Sept. 30 (AA, July 25). It has yet to file year-end numbers for 2004, or first quarter numbers. The reason is the additional work related to previously disclosed material weaknesses that may require restating prior periods.


Fairchild Publications last week named Brandon Holley, founding editor in chief of Hachette Filipacchi Media U.S.'s ElleGirl, to succeed Jane founding editor in chief Jane Pratt. Christina Kelly, executive editor at ElleGirl, will succeed Ms. Holley at that magazine's helm. ... Mindy Meads, the CEO of Sears Holding Corp.'s Lands' End, left the company late last week and was replaced by David McCreight, exec VP-merchandising, at the $2.2 billion apparel maker, according to a Sears spokesman. QwikFIND aaq82e

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