Word: aol
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...hard to knock Middelhoff for his record at Bertelsmann. He convinced the company to buy a stake in the Internet service provider American Online when it was still a fledgling company. Later, he arranged to sell the stake back to AOL for a $7 billion profit. The deal helped land Middelhoff the CEO job in 1998. He profitably sold off a stake in the German pay-TV service Premiere World long before the company, owned by media tycoon Leo Kirch, went bust. Middelhoff also persuaded Bertlesmann to buy the giant U.S. publisher Random House for $1.2 billion. His contract, reportedly...
Media Probe The U.S. Justice Department is investigating accounting practices at Time's parent, AOL Time Warner. The SEC is conducting a similar inquiry...
Earlier this year, when the depth of the AOL division's problems became apparent and its CEO was eased out, Bewkes and Logan were asked in turn to leave their divisions and take over the online service, reporting to Pittman. Both declined. In their new jobs, Bewkes and Logan will work closely together on such issues as selling more movies and music over cable and through AOL--the type of bottom-up synergy that they and Parsons believe makes sense and that is more likely to work when the executives involved like and respect each other...
Logan's first task will be to hire a new CEO for the online division; he will look not for a visionary but for a seasoned consumer-marketing executive. Besides attracting more subscribers and ads, AOL must craft a winning strategy for the broadband age--which will require sharing revenue with rival cable companies and giving consumers easy access to premium movies and music whenever they want...
...maybe that should be "surprisingly relevant," for a series made almost two years ago. News was all set to run on tnt in January 2001 but was scuttled by new management after the merger that created AOL Time Warner (which owns TNT and TIME). This year Bravo bought all 13 episodes--at a deep discount. But despite being shot before 9/11, Ashleigh Banfield's dye job, Greta Van Susteren's eye job and Paula Zahn's "zipper" ad, News doesn't play like old news. Like E.R., whose frenzied pace it emulates, News nails the jargon and the adrenaline rush...