What financial reports reveal on entertainment
- Article by: The Associated Press
- Associated Press
- April 25, 2013 - 5:45 PM
Companies providing entertainment content have begun releasing their earnings reports for the latest quarter. Here's a look at reports and related developments for selected companies.
_ April 18: For the second time in three years, a federal judge dismisses Viacom's $1 billion copyright lawsuit against Google Inc.'s YouTube, saying the online video site doesn't have to police itself as long as it removes infringing videos when copyright owners give notice.
Twitter launches a service that lets people find music they like and tweet songs from iTunes, Spotify and Rdio.
_ April 22: Netflix Inc. says it added 2 million U.S. subscribers to its Internet video service during the first three months of the year, boosted by the release of a critically acclaimed series, "House of Cards." That's at the top end of the target set by the company's management. The company's first-quarter report also shows its profit margins are widening.
CBS Corp. says it has made a minority investment in Syncbak, a technology company that allows mobile device users to pick up signals from their local TV stations over the Internet.
News Corp. says it has reached a $139 million settlement in shareholder lawsuits over the British phone hacking scandal and the controversial purchase of an entertainment company run by founder Rupert Murdoch's daughter.
_ April 23: Aereo, the television-over-the-Internet service that is threatening the broadcast and cable TV industries, says it is expanding to the Boston area on May 15. With prices starting at $8 a month, Aereo will offer 28 Boston-area broadcast channels, plus the cable channel Bloomberg TV.
_ April 25: Coinstar Inc. says first-quarter earnings plunged 58 percent amid signs that its Redbox kiosks for DVD rentals are losing their appeal as more people switch to Netflix and other Internet video services. The results are still better than what analysts anticipated, despite Redbox's slowing revenue growth. The company also discloses plans to change its name to Outerwall. Management says it believes the new identity underscores the company's ambitions to push "the walls of retail into a new dimension."
_ April 30: DreamWorks Animation SKG Inc.
_ May 1: Comcast Corp. (NBC, Universal Pictures), CBS Corp. (CBS, Showtime), Time Warner Inc. (HBO, Turner, Warner Bros.), Viacom Inc. (Paramount, Nickelodeon, Comedy Central)
_ May 7: The Walt Disney Co. (ABC, ESPN)
_ May 8: News Corp. (Fox)
_ May 9: Sony Corp. (Sony Pictures)
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