US-INDUSTRY Summary

Murdoch attacks British PM David Cameron over press regulation

LONDON (Reuters) - Media mogul Rupert Murdoch sharply criticized British Prime Minister David Cameron on Thursday for agreeing tougher press regulation, saying the new system was a "holy mess" and that Cameron had disappointed his supporters. Cameron struck a surprise deal on Monday with his junior coalition partners, the Liberal Democrats, and the opposition Labour party, that will allow a new regulator to be set up with the powers to levy large fines on newspapers and oblige them to print prominent apologies where appropriate.

Independent News' banks propose debt for equity swap: report

DUBLIN (Reuters) - A syndicate of banks has tabled proposals to reduce Independent News & Media's 420-million-euro ($546 million) debt burden that would see it take a large equity stake in Ireland's largest newspaper group, the Sunday Times reported. Weighed down by debts, falling readership and reduced advertising, INM has been in talks with its lenders since last year in relation to debt maturing in May 2014 in the hope of agreeing what it has described as a "substantial" restructuring.

CBS nears deal to buy half of TV Guide Network: reports

NEW YORK (Reuters) - CBS Corp is nearing an agreement to purchase about half of TV Guide Network, according to various media reports on Friday. The New York-based mass-media company is expected to pay about $100 million to buy out the TV Guide Network stake held by One Equity Partners, the private-equity arm of J.P. Morgan Chase & Co, the Wall Street Journal reported, citing people familiar with the matter.

HBO CEO mulls teaming with broadband partners for HBO GO

SAN FRANCISCO/NEW YORK (Reuters) - HBO could widen access to its HBO GO online streaming service by teaming up with broadband Internet providers for customers who do not subscribe to a cable TV service, HBO Chief Executive Richard Plepler said. Plepler told Reuters on Wednesday evening at the Season 3 premiere of HBO's hit TV show "Game of Thrones." "Maybe HBO GO, with our broadband partners, could evolve."

Fox picks up Big East basketball for 12 years

(Reuters) - Fox Sports has signed a 12-year contract to carry the new Big East basketball conference, the first major sports rights agreement it has entered since announcing its new national cable channel to compete with ESPN. Terms of the deal were not disclosed. A source close to the matter estimated the deal was worth between $500 million and $600 million over the 12 years. Fox, owned by News Corp, has been buying sports rights to showcase on its new cable network, dubbed Fox Sports 1, which will debut in August.

BBC Twitter accounts hacked by pro-Assad online group

LONDON (Reuters) - The Twitter account belonging to the BBC's weather service was hacked on Thursday, the public broadcaster said. The "Syrian Electronic Army", a group of pro-Assad hackers and online activists that has already disrupted the Facebook page of Barack Obama, claimed responsibility for the breach.

Jane's publisher IHS beats first-quarter estimates

(Reuters) - IHS Inc, publisher of Jane's Defence Weekly, reported higher-than-expected first-quarter revenue on a 13 percent rise in subscription income, but said customers continued to delay spending decisions on its non-subscription services. Non-subscription business, including consulting, software licensing and events, accounted for 24 percent of IHS's revenue last year.

Scholastic cuts full-year forecast for second time

(Reuters) - Children's books publisher Scholastic Corp cut its full-year forecast for the second time as sales of its "Hunger Games" trilogy remained lower than last year and customers continued to delay spending on its educational products. Shares of Scholastic, which also publishes the Harry Potter series in the United States, fell 14.4 percent in early trading on the Nasdaq.

Yellow Media says CEO to step down

(Reuters) - Canadian telephone directory publisher Yellow Media Ltd's CEO of about 12 years, Marc Tellier, is stepping down as the debt-laden company struggles to shift its business online. Directory publishers such as Yellow Media and UK-based Hibu Plc have been hit as users switch to online search engines such as Google Inc to find local listings.

Deputy editor of Murdoch UK tabloid charged over payments

LONDON (Reuters) - British police, investigating allegations of phone-hacking centred on Rupert Murdoch's newspapers, charged the deputy editor of his top-selling Sun tabloid on Wednesday with making illegal payments to public officials. Geoff Webster is the latest senior figure from News International, the British newspaper arm of Murdoch's News Corp, to be accused of criminal offences in a scandal which has rocked the media mogul's empire and escalated into a crisis embroiling the entire industry and the political establishment.

Source: http://news.yahoo.com/us-industry-summary-121735704--finance.html

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