The Morning Fix: Little love for Murdoch kids. Netflix keeps stumbling.
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After the coffee. Before wondering when Verizon will pitch Cardinals manager Tony LaRussa to do a ‘can you hear me now’ commercial.
The Skinny: If you’re not a baseball fan, this morning’s ‘after the coffee’ refers to the communication mishaps between Tony LaRussa and his bullpen during Monday’s World Series game. Tuesday’s headlines include the harsh message sent by shareholders to News Corp. Chairman Rupert Murdoch about his sons, and the continuing woes of Netflix.
Vote of no confidence. News Corp. released the full results of last week’s shareholder vote and the final tally won’t be framed and hung in the media conglomerate’s boardroom. Although News Corp. Chairman Rupert Murdoch and his sons James and Lachlan were reelected to the company’s board of directors, the results showed a high level of dissatisfaction with the two sons. In fact, if you exclude shares controlled by Murdoch and a close ally, about 75% of the vote was against returning James to the board. He, of course has been tarnished by his handling of the News of the World phone hacking scandal. Coverage from the Los Angeles Times, Wall Street Journal, New York Times and Guardian.
Another bad day. Netflix shares plunged more than 35% after the company released third-quarter results showing a loss of 800,000 subscribers, 200,000 more than it had predicted. The stock, which neared $300 a share in July, is now below $80. Netflix Chief Executive Reed Hastings, who has been under fire for the company’s recent woes, even told shareholders he was sorry for the disappointing performance. More from the Los Angeles Times and Bloomberg.
Nothing to sing about. Fox’s ‘Glee,’ once red hot, is showing its age. USA Today notes that ratings for the first three episodes of the new season are down more than 20%. Also telling is that people who record the show on their DVR, are taking longer to view the episodes than in the past. ‘It’s not exactly where I’d want it,’ Fox entertainment head Kevin Reilly said.
Better order now. Warner Bros. is going to stop shipping Harry Potter DVDs and Blu-ray discs to retail chains right after Christmas. The move, per the Hollywood Reporter, is aimed at boosting sales.
What about Bob from Accountemps? Comcast has snagged Turner Broadcasting executive Linda Yaccarino to head ad sales for its cable networks including USA, Bravo and E!, according to the New York Post. This is noteworthy because Yaccarino is well known on Madison Avenue and is the second executive tapped by Comcast for this key position.
Inside the Los Angeles Times: Richard Verrier on the plans of Mexican theater chain Cinepolis to bring luxury theaters to California. DreamWorks Animation has tapped industry veteran Chuck Viane to advise it on distribution strategies.
— Joe Flint
Follow me on Twitter. It’s not an option. Twitter.com/JBFlint
