Reuters
Voice of San Diego
Two months after it put itself up for sale, The San Diego Union-Tribune has been courted by four major suitors: The New York Times, MediaNews, Tribune and Black Press. All the companies would have to overcome major financial hurdles in order to buy the U-T, and the economy's credit crunch might make it impossible to borrow the money needed for the purchase. Observers wonder why any media company would even want the paper -- with its sliding circulation, rapid declines in advertising and the departures of some well-known journalists. On the other hand, the U-T's dire straits …
TV Week
This election season, there's lots of money to be made in making fun of politicians. While political humor once scared off advertisers, the jokes about this year's election have many advertisers voting for more. Advertisers who haven't sponsored NBC's "Saturday Night Live" for several seasons have returned to the show this season, says a network rep. "Colbert" and "The Daily Show" are also hot, hot, hot," says Jeff Lucas, MTV ad sales executive. "Politics is hotter than ever." To tap more of those dollars, Comedy Central next week launches "Chocolate News" starring David Alan Grier, billed as …
Mediaweek
Just in time, Forbes' Web site is launching a new content section within its Personal Finance channel aimed at financial advisers and big money investors. The new Financial Adviser Network -- sponsored by Prudential -- will feature news, analysis and commentary about amassing wealth. Top industry experts will dole out advice and encourage community participation through columns and blogs. The new section also features a directory of top financial advisors in various industries, educational content and resources from Forbes researchers, and a custom financial advisor widget.
New York Observer
A month ago, Vanity Fair deputy editor Doug Stumpf took writer Michael Lewis out to dinner. Now Lewis has agreed to write exclusively for Vanity Fair and drop his contracts with Conde Nast's Portfolio and The New York Times Magazine. This is considered a major coup for Vanity Fair, at a time when financial coverage is on the front burner for nearly every media outlet. Lewis is "perhaps the most important financial journalist in the country." His 2003 book "Moneyball" about the business of baseball spent 18 weeks on the best-seller list and sold about 630,000 copies.
Consumer Reports
The Consumers Union charges that while the cable industry has been assuring cable customers that they won't be affected by the switch to all-digital broadcasts, "apparently that's not the case." The CU says it has been getting complaints from across the country that cable companies are using confusion about the forthcoming transition--which applies only to TVs with antennas, not to TVs with cable--as a chance to boost the bills of their existing cable customers. "The government must [require] cable providers treat their subscribers fairly. We support proposals that push cable providers to cut rates when they cut …
Brandweek
Adweek
For the second time this year, Publicis' Starcom MediaVest Group is reorganizing operations for its $2 billion General Motors account. By year's end it will cut about 5% to 10% of the staffers working on that business -- up to 150 employees. As part of the change, SMG also relinquishes planning and buying chores for GM's local dealers to sister agency Martin Retail Group and IPG's Velocity. The restructuring comes amid efforts by GM to streamline costs, including marketing expenses.
Advertising Age
Seoul is quickly filling the glamour gap created by the departure of Detroit steel from red carpets and big-ticket events. Hyundai has just purchased all of the spots abandoned by General Motors in next February's Academy Awards telecast. This year Hyundai also purchased spots during February's Super Bowl XLII, its first appearance in the telecast since 1989. The broadcast was the most-watched Super Bowl ever, with 97.5 million viewers, per Nielsen. In the last two months GM said it would be skipping this year's Emmys, next year's Oscars and next year's Super Bowl.
Wired
Comcast is hiking cable television prices in a handful of markets next month to compensate for the costs of gas, health insurance, technology and service improvements. Customers in Maryland, Pennsylvania and Tennessee will be the first to feel the increase. While costs are on the rise, so are Comcast's profits. Last quarter, the company's net income shot up 8% to $632 million. At a time when consumers are particularly price sensitive, observers say it seems pretty risky for Comcast to be raising rates.