US-INDUSTRY Summary

News Corp's publishing business to initiate stock buyback

(Reuters) - News Corp set the distribution ratios for the spinoff of its publishing business and said the spinoff may start buying back stock right away. The board of the publishing business, which will retain the News Corp name, authorized a $500 million stock repurchase program, the company said on Friday.

Obama in heated exchanges with Code Pink anti-war protester

WASHINGTON (Reuters) - The woman who interrupted President Barack Obama's speech on counterterrorism policy on Thursday is well-known around Washington as a perennial protester on national security issues. Medea Benjamin, a founder of anti-war women's group Code Pink, began demonstrating years ago on Capitol Hill, becoming an almost routine presence at hearings where high-ranking officials of the Bush administration appeared to talk about the Iraq war.

Hulu video site auction attracts four bidders: sources

LOS ANGELES (Reuters) - Former News Corp president Peter Chernin and private equity fund Guggenheim Digital Media have placed bids for Hulu, two people with knowledge of the matter told Reuters, triggering a tug-of-war for the online video service. Satellite operator DirecTV and cable operator Time Warner Cable Inc also put in bids, one of the people told Reuters.

Obama orders review of guidelines for probing journalists

WASHINGTON (Reuters) - President Barack Obama said on Thursday he directed Attorney General Eric Holder to conduct a review of Department of Justice guidelines for investigations that involve journalists and report back by early July. Obama has come under criticism for his administration's pursuit of journalists who have reported leaked material.

Vivendi names new management for SFR

PARIS (Reuters) - Media and telecoms conglomerate Vivendi has appointed Jean-Yves Charlier as chief executive of French telecome operator SFR, its largest unit, where profits are under pressure from a mobile price war. Charlier, a former board member of Vivendi, has been piloting the group's telecom strategy since October as it seeks to sell telecom assets to focus more on media.

Pearson overhauls business structure to target growth markets

LONDON (Reuters) - UK-based publisher Pearson, buffeted by a string of managerial changes and slowing growth, unveiled a further shake-up on Thursday that it said would take some time to implement. Shares in the educational publisher and owner of the Financial Times dropped in reaction to the news as analysts said there were risks that the reorganization, which increases its focus on emerging markets and digital products, would drag on performance.

Caesars plans to launch online poker this summer in Nevada

LOS ANGELES (Reuters) - Caesars Entertainment Group said it plans to go live this summer with an online poker site in Nevada, the only U.S. state so far to offer legal Internet gambling, and will promote the nascent service to thousands of poker players at its World Series of Poker (WSOP) tournament in Las Vegas starting May 29. Caesars is among several gaming companies preparing to go live with online sites in the United States which could eventually generate billions of dollars in revenue for the casino industry and local governments.

Sony to assess spin-off proposal for entertainment business: Nikkei

(Reuters) - Sony Corp is considering evaluating a proposal from top shareholder Third Point LLC to spin off part of its movie and music business, Japanese daily Nikkei reported. Sony's U.S. listed shares rose 9 percent on Tuesday on the New York Stock Exchange.

Disney-owned ESPN cutting hundreds of jobs: source

(Reuters) - ESPN, the sports channel that is Walt Disney Co's most profitable unit, is cutting 300 to 400 jobs across the company and closing a small Denver office, a person with knowledge of the cuts said. The job cuts, comprising 4 to 6 percent of ESPN's staff of 7,000, include open positions that will not be filled, said the source, who asked not to be named because the information is not public.

CBS takes key ratings crown for first time in 21 years

(Reuters) - Broadcast network CBS said on Tuesday it won this season's ratings race among the 18-to-49 age group most prized by advertisers, claiming its first victory in that audience in 21 years. CBS, a unit of CBS Corp, snatched the title from News Corp-owned Fox, which had dominated the age group for eight straight years until it was hurt this season by a ratings slump for singing competition "American Idol."

Source: http://news.yahoo.com/us-industry-summary-004427536.html

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