JEFF BEWKES will replace Richard Parsons as the CEO of Time Warner, effective January 1st. The move comes after months of speculation about Parsons’ future at the company and pressure from Wall Street due to a sagging stock price. Parsons will remain Chairman of Time Warner and said that Bewkes has his “full support” as the company enters a “new era of growth.”
GOOGLE unveiled mobile operating system Android and an alliance of 33 companies in the mobile industry that have vowed to support it. Android will be free and open-source, while offering advanced web features, access to third-party applications, and built-in support for Google applications. The new Open Handset Alliance joins major device makers, carriers, and other tech companies including Sprint, T-Mobile, Intel, LG, Motorola, Samsung and more. Google aims to remove cellphones from the grips of carrier control, making them more like personal computers. And, of course, lucrative outlets for digital advertising.
BARRY DILLER announced that Internet conglomerate IAC will be split into the five publicly-traded companies. HSN, LendingTree.com, Ticketmaster, and Interval will become seperate entities. Diller will remain the head of IAC, which will retain Ask.com, Match.com and Citysearch. Diller said the move is necessary because IAC’s current strategy lacks clarity and is too complex for investors to understand.
NEWSPAPER CIRCULATION dropped again in the last six months by an average of 2.6%. Newsday and The NY Post saw the largest declines, at over 5% each. The NY Times lost 4.5% and the Wall Street Journal lost 1.5%. The industry is trying to retain advertisers by focusing its metrics on the number of online and offline readers, while underplaying the shrinking circulation figures.
THE FCC is planning a series of educational workshops as part of its DTV-transition effort and will dedicate this week’s session to senior citizens. The workshop will focus on the most effective way to inform the elderly about the upcoming transition. A major issue confronting the group is the distribution of coupons for converter boxes, which will be assigned on a per-household basis. This makes them unavailable to the millions of senior citizens living in nursing homes.
OXYGEN NETWORK has expanded its on-demand platform to reach 25 million homes. The network has signed deals with 13 carriers for its female-oriented programming. The company has expressed a strong commitment to new media, pledging to be available on every platform that the audience uses.