Posts filed under “Technology”
Two fascinating entertainment stories caught my eye today — if you have any interest in Entertainment, Technology or Digital Media, then go these out:
• Clear Channel Communication is teetering:
“Clear Channel, the nation’s largest radio station operator and an outdoor billboard company, last year became the biggest leveraged buyout ever in the media business, after it was taken private by Thomas H. Lee Partners and Bain Capital. Now its revenues are plunging and so is its cash flow, making it harder to meet the payments on the billions in debt accumulated in the process of buying out its public investors…
Clear Channel was on track to become the biggest default among media companies and therefore the biggest workout ever in the industry… The company’s options may be limited. Many financially pressed concerns have been able to persuade creditors to exchange debt for equity and thus avoid a default and a bankruptcy filing… The company has $16 billion of bank debt, on which it pays variable rates, and $6 billion more of junior debt. The holders of the junior debt and the equity holders would absorb the first loss in the event of a bankruptcy, so the banks have some protection and less incentive to negotiate.”
That’s a shame . . .
These guys destroyed radio, and deserve to die. Its a shame most of the executives who put together this ugly behemoth have long since moved on. They should have been waterboarded.
• RealNetworks’ CEO Rob Glaser throws a fire bomb at technophobic entertainment execs:
“Hollywood is missing out on a marvelous opportunity, says RealNetworks’ CEO Rob Glaser. Real has presented the film industry with a means to inject renewed interest in DVDs, which is waning, Glaser said minutes after testifying at a hearing in federal court on Wednesday. Real has developed two different kinds of software, RealDVD and Facet, that it says streamlines the movie-viewing experience by enabling owners to duplicate DVDs and store the copies on hard drives.
But the studios, much like they’ve done since the Sony Betamax case, are resisting technological advancement and have rejected the opportunity Real offers, Glaser said. He thinks he knows why.
“Some of the studios are very progressive,” said Glaser, who founded the public company in 1994. “Some of them are scared. It’s been my experience that often the scared voices overwhelm the progressive voices.”
Fascinating stuff . . .
Radio’s Wounded Business Model (July 20th, 2004)
iPod shuffle = new radio ? (January 15th, 2005)
Radio Giant Faces Crisis in Cash Flow
NYT, April 29, 2009
Real’s Glaser: Some studio chiefs ‘scared’ of tech
C.NET April 29, 2009 4:31 PM PDT
I came across this very cool tool (hat tip: Flowing Data) that allows you to sift through public data easily. > > As an example, see what you can do with Unemployment rate throughout the US, broken down into fine granularity by county. The specifics of this particular search matter less than the thought of…Read More
This should be the last of it! The upgrade to WP2.7 seems to have caused a few problems, and they are now (mostly) resolved. The following glitches have been repaired: MacroNotes – is working! Look for automatic updates throughout the day. Email This — has returned. « Older Entries — is functioning again Anything else…Read More
You will note a few things are still in SNAFU mode: The “<< Older Entries” link / text at the bottom of The Big Picture page doesn’t work. The address shows successive page numbers but the same stories are listed over and over again. There is no link to email to someone a post. Some…Read More
UPDATES: 2:16pm: Weekend is now working — I will do a test post ~~~ 11:27am: Weird . . . Digital Media is now showing up under Weekends. ~~~ 10:30am: Let me remind you to CLEAR YOUR CACHE ~~~ 10:00am: Weekend posts are showing on the main page. I want to get that to show only…Read More
Hmmmm: Sun Microsystems Inc. surged the most ever in German trading after the Wall Street Journal reported International Business Machines Corp. is in talks to buy the company for at least $6.5 billion. Sun Microsystems jumped as much as 61 percent to 6 euros in Frankfurt trading. The offer would value Sun’s stock at more…Read More