Worries linger about Nickelodeon's ratings slump

Wall Street analysts peppered Viacom management Thursday with questions about the mysterious ratings slump at the company's premier children's television network Nickelodeon.

Nickelodeon's audience levels have fallen nearly 30% this season, prompting much speculation about the reasons behind the troubling drop. The issue is far from child's play. Nickelodeon is one of the most valuable channels in television as well as within the Viacom universe. 

Some analysts have theorized that the weak ratings could be attributed to shifts in viewing behavior. More children are watching Nickelodeon shows on demand through Netflix and Amazon.com digital streaming services, rather than watching the channel. 

Earlier this week, Time Warner Inc. Chief Executive Jeffrey Bewkes added his support to that theory, noting that his company's Cartoon Network, which competes with Nickelodeon, doesn't have that issue. In fact, Cartoon Network's ratings were up 14%.

 "We think part of the reason is that we don't have our programs sitting on an SVOD [subscription video-on-demand service] where parents can park their kids," Bewkes told analysts during Time Warner's earnings call Wednesday. "Obviously, that's taking some viewing away from some of the other animated channels."

Viacom executives pooh-poohed the theory.

"Netflix is present in less than a quarter of television households, and since we get the streaming data on our content, I can tell you that the time spent on Nickelodeon content on Netflix is approximately 2% of the time spent on our Nickelodeon channel," Viacom Chief Executive Philippe Dauman told analysts Thursday during his company's second-quarter earnings call.

"It would have a minimal impact here," Dauman said.

Instead, Viacom traces much of the ratings nosedive to a September change in the composition of the audience panel that Nielsen uses to derive its ratings. New participants in the Nielsen panel apparently watch less Nickelodeon than those they replaced.

Still, analysts are concerned.

"Nickelodeon has fallen to levels that you've never seen before," said one prominent analyst, Michael Nathanson of Nomura Securities, observed during Viacom's call. 

Nickelodeon's problems failed to dent investors' enthusiasm for Viacom's stock. The company's widely traded B-shares closed Thursday at $49.02 a share, up $1.59 a share.  Viacom reported a profit increase of 56% over the year-earlier period.  Revenue was up 2% to $3.33 billion.  

"We're going to focus on ways in which we can affect the Nickelodeon brand positively," Dauman told analysts before the opening bell. "Our pipeline is extremely strong. We're developing more new [episodes] of our popular series and more exciting new series. And of course, we're particularly excited about the revival of the [Teenage Ninja] Turtles franchise."

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Viacom executives again among America's highest paid

 -- Meg James

Photo:  A scene from an older episode of "SpongeBob SquarePants." Credit:  Nickelodeon 

Viacom first-quarter profit drops 65% on weak advertising

Even Tom Cruise wasn't enough for media company Viacom Inc. to pull off a nearly impossible mission: turning a crowd-pleasing first-quarter earnings.

The New York-based media company's profit plummeted 65% on lower advertising sales at its important cable television networks for the quarter ended Dec. 31. Advertising woes were particularly nettlesome at children's channel Nickelodeon, which has experienced a precipitous drop in ratings. 

Viacom's earnings were also dragged down by a $383-million charge for payments to former shareholders of the Rock Band video game franchise, part of the company's long-running legal dispute over Harmonix Music Systems. The payout was the latest sour note in Viacom's failed attempt to get into the video game business.

Net income dropped to $212 million, or 38 cents a share, compared to $610 million, or $1, during the same period the previous year. The earnings, reported Thursday, slightly beat analysts' forecasts.  Viacom's revenue increased 3% to $3.95 billion. Analysts, however, had expected slightly higher revenue.  

Hollywood-based movie studio Paramount Pictures delivered an admirable box office performance, boosted by the late-December release of "Mission: Impossible -- Ghost Protocol," starring Cruise and directed by Brad Bird. (The film has taken in $575 million worldwide.) The century-old Melrose Avenue film studio also thanked "Paranormal Activity 3" and "Puss In Boots" for its box office results. "The Adventures of TinTin" underperformed.

Paramount generated $1.6 billion in revenue, an increase of 4%.  Theatrical revenue was up 37% to $570 million.  Home entertainment sales dipped 6% to $598 million.  Overall, the expense-laden studio reported a $31-million deficit for the quarter.  

Viacom -- which is controlled by 88-year-old billionaire Sumner Redstone -- depends almost entirely on its collection of cable channels, including MTV, Nickelodeon, BET, VH-1 and Comedy Central, for income. Most alarming to analysts was Viacom's admission that advertising was off 3% to $1.35 billion for the quarter.  

The company's Media Networks unit took in $2.44 billion, which was a 3% increase over 2010.  Operating income for the media networks increased 7% to $1.1 billion.

"Despite some early headwinds, Viacom is off to a strong start in 2012," Viacom Chief Executive Philippe Dauman said during an early morning call with analysts. 

Dauman said the company would produce nearly 30% more hours of original TV programming this fiscal year to try to gain back lost ratings and boost advertising sales. The company expects to spend $3 billion on programming this year.

RELATED:

Viacom executives again among America's highest paid

Viacom is ordered to pay $383 million more to Rock Band makers

Disney gains on Nickelodeon, which points a finger at Nielsen

-- Meg James

Photo:  Tom Cruise in "Mission: Impossible -- Ghost Protocol." Credit: Paramount Pictures

Nickelodeon makes telenovela grab with 'Reach for a Star'

Viacom Inc.'s Nickelodeon has struck a deal for 80 episodes of a prime-time soap opera for its Nick-at-Nite programming block that will debut later this year.

Based on the Mexican telenovela "Alcanzar una Estrella," "Reach for a Star" is part of Nickelodeon's ongoing strategy to bring young parents and kids to its Nick-at-Nite prime-time lineup. Once the home of old sitcom reruns, Nickelodeon's Nick-at-Nite has been programming more original shows in prime time over the last few years -- a better counterpart to its daytime schedule of kid and teen series it hopes will attract more family viewing.

Nickelodeon has had some success with the telenovela format, which typically runs new episodes five nights a week, as opposed to once a week, with Nick-at-Nite's mystery series "House of Anibus" and the high school drama "DeGrassi: The Next Generation" on the Teen Nick cable channel.

The single-camera "Reach for a Star" follows the life of a teenage girl who becomes a star overnight and has her life turned upside down. Nickelodeon is partnering with Spanish programming giant Grupo Televisa and Sony Television on the show, which will be executive produced by former "General Hospital" executive producer Jill Farren Phelps.

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Nickelodeon has beef with Nielsen

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-- Joe Flint

 

 

 

Disney gains on Nickelodeon, which points finger at Nielsen

It's the middle of the afternoon, do you know where your children are?

That's what Viacom Inc. wants Nielsen to find out. The parent company of No. 1 kids cable network Nickelodeon is grumbling about a recent decline in its ratings and thinks it is Nielsen's fault.

On an earnings call with analysts Thursday, Viacom Chief Executive Philippe Dauman called a September ratings drop at Nickelodeon -- home to "SpongeBob SquarePants," "Dora the Explorer," "i Carly" and "Victorious" -- "inexplicable."

"We have had extensive discussions with Nielsen to determine the causes of this anomaly and we have been working side-by-side with them to understand and rectify the situation," Dauman said. Some analysts have expressed concern with the numbers.

For the month of September, Nickelodeon averaged about 1.8 million viewers a day and 951,000 children in the 2-11 category. Among the 6-11 crowd, the channel averaged 501,000 youngsters. In the 9-14 group, Nickelodeon averaged 373,000 eyeballs, a loss of 13%. Compared with September 2010, that's a drop of almost 15% in total viewers, 16% in the 2-11 arena and almost 17% with kids 6-11.

Those sharp drops were not matched by similar drops at Disney Channel, Nickelodeon's chief rival. For September 2011, Disney had an average audience of 1.63 million, up 2.6% from the same month a year ago. With kids 2-11, Disney had 921,000 viewers for the month, an increase of 8.8%. In the 6-11 category, Disney averaged 605,000 viewers, a jump of 11.6%, and with the 9-14 group, the channel had 488,000 viewers, a 5% jump.

Disney is not publicly complaining about Nielsen and if it can sustain its pace, it may topple Nickelodeon among kids 6-11 for the season. It would be the first time in almost 20 years that Nickelodeon wasn't No. 1 with that demographic. Disney has had particular success with “Phineas and Ferb,” and the live action shows “Good Luck Charlie,” “Shake It Up,” “A.N.T. Farm” and “Jessie.”

While Nielsen is looking into Viacom's concerns, so far the ratings company says it has found nothing to suggest that its numbers are off. No other kids cable channels have expressed concern to Nielsen about the numbers.

-- Joe Flint

Photo: "Phineas and Ferb." Credit: Disney Channel.

Viacom reports strong quarterly earnings; Paramount Pictures shows dramatic improvement

 
Viacom Inc. delivered strong second-quarter results, buoyed by its cable ratings success, including MTV's blockbuster "Jersey Shore," and 38% higher revenue at Paramount Pictures. 

The Melrose Avenue film studio raked in $1.2 billion in revenue, with "Rango" and "Justin Bieber: Never Say Never" helping propel worldwide box office of $401 million. Paramount posted an operating profit of $39 million for the second fiscal quarter, compared with an $83-million loss in the year-earlier period. 

"Paramount Pictures delivered strong results across the board," Philippe Dauman, Viacom chief executive, told analysts Thursday during an early-morning conference call.

For example, Paramount's home-entertainment division, fueled by nine DVD releases including "Megamind" and "The Fighter," garnered a 38% increase in revenue to $410 million.  In the year-earlier quarter, the studio released only one new DVD title.  Worldwide box-office revenue was up 50%.  The division also collected $336 million in TV license fees, which was up 30% compared with a year earlier.

Viacom executives told analysts that, although thrilled with the studio's performance, they would search for ways to improve efficiency because filmed entertainment continued to be the company's lowest-margin business. Paramount has thrived, in part, because of its partnerships with Marvel and DreamWorks Animation.  It now wants to stock its pipeline with more pictures from Paramount.  

"We are looking to benefit from our own franchises," Dauman said.

Overall, Viacom's net earnings from continuing operations climbed to $376 million, or 63 cents a share, compared with $255 million a year earlier.  Revenue for the company soared 20% to $3.27 billion.

Cable television networks, including MTV, Nickelodeon and BET, continue to be the company's financial heart.  Second-quarter television revenue of $2 billion was up 11%.  Operating income of $795 million was up 13%.   

Advertising at the cable networks jumped 12% for the quarter.  The company has taken advantage of its broadcast-sized ratings for several of its shows, including MTV's "Jersey Shore," and Nickelodeon's "iCarly" special.  And BET delivered its best ratings quarter ever.

 "Every part of Viacom is in great shape," Dauman said.

-- Meg James

Photo: "Rango." Credit:  Paramount Pictures / Viacom Inc.

Riding the Jersey wave, MTV wraps quarter with poufy high ratings

 

MTV is finishing the first quarter with its highest ratings in five years, a noteworthy 27% jump among young viewers compared with the first quarter of 2010.

The Viacom Inc.-owned network's numbers were fueled by the third season of "Jersey Shore," which soared to the top of the ratings chart in the youth demographic of 12- to 34-year-old viewers. The show, which launched in December 2009 and features the Italian American New Yorkers Vinny Guadagnino, Mike "the Situation" Sorrentino and, of course, Nicole "Snooki" Polizzi, who made the hair pouf sort of fashionable again, attracted more young viewers than television's top-rated show, "American Idol," according to MTV.

The third season of "Jersey Shore" became MTV's highest-rated show ever. It grew 35% compared with the second season and averaged 7.9 million viewers per episode. Production of the fourth installment of "Jersey Shore" recently got underway in Italy.

MTV's ratings resurgence has significantly helped Viacom's cause on Wall Street. Viacom common stock has been trading close to its 52-week high of $46.65 a share.

MTV's "Teen Mom 2" also netted substantial ratings, becoming cable television's No. 2 original show with an average of 3.8 million viewers an episode. "Real World: Las Vegas" was MTV's third show in cable's top 10, with ratings 11% higher than the previous installment of the show. It averaged 2 million viewers an episode.

Sister Viacom channel Nickelodeon said it posted its most-watched quarter with an average of 2.4 million viewers. During the quarter. Nickelodeon put forth several of the top preschool programs in television with "Bubble Guppies," "Max & Ruby," "Team Umizoomi," and "Go Diego, Go!"  It also boasted basic cable’s top three animated series with the perennial favorite "SpongeBob SquarePants," as well as "T.U.F.F. Puppy" and "The Penguins of Madagascar." 

-- Meg James

Photo: The cast of "Jersey Shore." Credit: Chris Pizzello / Associated Press  

The Morning Fix: Oscar working on timing. Hasbro and Discovery not toying around. `Superman' has its director.

After the coffee. Before yet another flight to New York.

The Skinny: Discovery's and Hasbro's new kids channel doesn't premiere until Sunday, but the critics are already pouncing. Can't Google everyone with Google TV. "Superman" has its next director. The FCC wants more dirt from Comcast and NBC Universal as part of its review

Oscars on the move. The Academy of Motion Pictures Arts & Sciences wants to move the annual Oscar Awards telecasts from its current home of the end of February or early March to January or early February. The motivation is to make the Oscars one of the first awards shows instead of the last so there is less chance of awards-show fatigue impacting the telecast's ratings. The challenge is finding a new home that won't get run over by football. Huh? That's right, football. See, the NFL wants to expand its regular season to 18 games (that's a debate for another day) and if (when) that happens, it will mean the Super Bowl and probably some of the playoffs will get pushed well into February. That means the Oscar folks (and host network ABC) have to find a home where they won't bump up against all that football hype on rival networks and still get ahead of other shows. The scoop from the Los Angeles Times.

Not toying around. On Sunday, Discovery and Hasbro will launch "The Hub," a new cable channel aimed primarily at kids age 6-11. Not only will it face tough competition from entrenched channels such as Viacom's Nickelodeon and Disney's Disney Channel and Disney XD, it will also be scrutinized by media watchdogs. That's because there are concerns that Hasbro will try to make the network into nothing but ads for its toys. The channel's boss, respected kids TV executive Margaret Loesch, says that won't be the case and that only about 20% of Hub shows are based on Hasbro products. But will that be enough to silence the critics? More on The Hub from the Los Angeles Times.

Google this! Google, the search engine that wants to become the connector between the Internet and the television, unveiled its content partners, but the list was more notable for who wasn't on it. While several cable networks, including CNBC, HBO and Turner Broadcasting are on board, the big broadcast networks are steering clear of Google -- for now anyway. To get Google TV, at least in its early incarnation, you'll need either a Sony high-definition TV set, a Blu-ray player or a special set-top box. In other words, it may take a little while for this thing to take off. More on Google's small-screen dreams from the New York Times.

Peace accord. Mexican broadcaster Grupo Televisa is shelling out $130 million for a 5% stake in Univision and an additional $1.07 billion in convertible debt that translates into 30% of Univision's shares, according to the Wall Street Journal. Besides giving Univision a much needed infusion, it ends years of acrimony between the two media giants.

And the backlash begins. Although many critics are worshiping "The Social Network" and already talking about how many Oscar nominations it should get, gripes about the portrayal of women in the movie are starting to surface. Missing from the movie, says Rebecca Davis O'Brien in the Daily Beast, are women who aren't "doting groupies, vengeful sluts, or dumpy, feminist killjoys." 

He's baaack! Former NBC Enertainment chief Ben Silverman is back to doing what he does best -- making new versions of successful shows. He's near a deal to make a sitcom for ABC based on an old Latin American comedy called "I Hate This Place." Not sure what's more ironic, that ABC -- whose old entertainment chief Steve McPherson loathed Silverman -- will be home for the show or that Deadline Hollywood, which relished in Silverman's downfall at NBC, was where the story was leaked.

Super Director. Zack Snyder, whose credits include "300" and "Watchmen," has been tapped to direct the latest version of "Superman" for Warner Bros. and Legend Pictures. Chris Nolan will produce. Deadline Hollywood on the choice and what Snyder's thoughts are about taking on the franchise.

Where's mine? The Wrap makes the shocking discovery that even in a field as challenged as journalism, there are some people pulling down huge salaries. Next you'll tell me there are hockey players making big bucks too. The hook for the story is that Michael Ausiello, an Entertainment Weekly writer best known for his television casting scoops, is launching his own website, backed by the owners of Deadline Hollywood. Hey, if someone wants to pay top dollar for content, you'll get no complaints from me.

Inside the Los Angeles Times: Thomas Tull, the chairman of Legendary Pictures, is buying out his original investors and has new partners in Fortress Investment Group and Fidelity. The Federal Communications Commission wants more inside information from Comcast and NBC Universal as part of its review of their pending merger. 

-- Joe Flint

Follow me on Twitter and I'll tweet you something special. Twitter.com/JBFlint

FCC looking at Nicktoons cartoon 'Zevo-3' for possible regulatory violations

A new cartoon that Viacom's kids cable channel Nicktoons is making is being probed by the Federal Communications Commission for potential violations of the Children's Television Act.

Although the show -- "Zevo-3" -- is not set to premiere until next month, it has already been blasted by the Campaign for a Commercial-Free Childhood, a media watchdog group that often raises concerns about over-commercialization of kids TV. The cartoon characters of "Zevo-3" were initially seen in specially made comic books used to market Skechers USA Inc.'s children's shoes and were created by Skechers Entertainment.

Two weeks ago, the Campaign for a Commercial-Free Childhood filed a complaint about "Zevo-3" with the FCC that said the show violates FCC regulations because it was made by Skechers Entertainment and its characters are known primarily to kids through campaigns to sell shoes. Nicktoons, a sister channel of Nickelodeon, is available in about 60 million homes.

Under the FCC's rules regarding children's programming, not only is there a limit on the number of commercials allowed to air in shows aimed at kids age 12 and under, there are also rules regarding product placement and advertisements for products within shows that feature the same products. 

In its complaint, the Campaign for a Commercial-Free Childhood argued that the characters in "Zevo-3" are commercial logos and thus the show "must be considered a promotion for Skecher shoes."

The FCC said it would seek comments on "Zevo-3." That is usually the first step toward a further investigation and, if the agency found Nickelodeon had violated its regulations, a potential fine. However, just because the FCC seeks comments on a complaint, that does not mean it will ultimately decide to investigate further.

If the FCC were to issue a fine, the distributors that carried the show would be on the hook, not Nickelodeon. That is also how it works with the FCC's indecency rules.

A Nickelodeon spokesman said, "As we previously stated, we do not believe that the show is a program-length commercial, nor do we agree that its transmission would violate the Children's Television Act or any of the Commission's rules or policies."

-- Joe Flint

The Morning Fix: Big bucks for 'Big Bang'! Weinstein Co. makes splash at Toronto. Reality bites on broadcast.

After the coffee. Before wondering why Fashion Week snubbed me.

Reality bites. The Wall Street Journal uses the overhaul of Fox's "American Idol" to check in on the state of the reality TV biz. Heading into the fall season, the WSJ notes that the five broadcast networks have scheduled 14 hours of reality shows, the lowest number since 2005. Of course, in fairness, a lot of reality shows usually come on in mid-season to replace new comedies and dramas that didn't work. Also, although broadcast may be backing away from reality shows, the story doesn't note how huge they've become on cable. TLC, MTV, Bravo and dozens of other channels are basically reality-show factories these days. As for "American Idol," we're all still waiting for Fox and the producers to announce Steven Tyler, the Aerosmith singer, and performer Jennifer Lopez as the new judges. Actually, does anyone care anymore?

Big paycheck for "Big Bang Theory." Deadline Hollywood has the details on the new contracts for the stars of the CBS hit "The Big Bang Theory." Most interesting was how Warner Bros. TV, which makes the show, managed to get breakout star Jim Parsons to take the same deal as his co-stars. Initially, the Emmy winner had been holding out for a bigger deal, but Warner Bros. played hardball. The raises come in the wake of Warner Bros. selling repeats of the program to TBS. In other words, this is the reward for the last few years as much as it is a raise going forward.

They're back! The Weinstein Co., apparently trying to move on from founders Bob and Harvey Weinstein's unsuccessful effort to buy back Miramax from Walt Disney Co., has been making a splash at the Toronto International Film Festival. According to Variety, the Weinstein Co. picked up North American rights for a British coming-of-age comedy called "Submarine," its second purchase after springing for "Dirty Girl." Lionsgate has also been busy as it and specialty subside Roadside bought U.S. rights to Robert Redford's "The Conspirator," which is from new Chicago Cubs owner Joe Ricketts

Brother, can you spare a dime? Veteran movie banker Clark Hallren, who left JPMorgan last year to create Clear Scope Partners, has a grim financing forecast for the movie industry. In an interview with the Los Angeles Times, Hallren, who worked on the initial IPO for DreamWorks Animation, said "it's a good time not to be a banker." Why? Well, Hallren notes that foreign banks are not doing as many deals and the risks in the movie business have skyrocketed.

You say show, I say advertisement. An advocacy group is going after Nickelodeon, charging that one of its new shows is nothing more than an advertisement dressed up as a kids cartoon. The show, "Zevo-3," premieres on Nicktoons next month (actually the day after Hub, a new rival kids channel from Discovery and Hasbro, launches) and is based on characters that were created for a marketing campaign by the shoe company Skechers. The Campaign for a Commercial-Free Childhood has sent a complaint to the Federal Communications Commission asking the agency to stop Nickelodeon from proceeding with the show. The FCC does have rules regarding advertising and kids programming, but Nickelodeon parent Viacom counters that although the characters of the show may have been inspired by the ads, it is not violating any government regulations. More on the skirmish from the New York Times.

Missing the point. The Hollywood Reporter has a story Thursday declaring that "fat is making a comeback in Hollywood" and suggesting that we can all "forget about" the super-skinny actresses that fill just about every show on broadcast and cable. What the story doesn't note is that most of these shows are reality shows about losing weight and that their overall message is that there is something wrong with the people on the show. Although obesity is a real issue, many of these shows are just exploiting people in the hopes of ratings. In other words, Hollywood is not suddenly embracing people who you can actually still see when they turn sideways.

Inside the Los Angeles Times: Sirius XM Chief Executive Mel Karmazin said he is confident that Howard Stern will sign a new deal with the satellite radio broadcaster. MGM got its seventh (that's right, seventh) forbearance on its debt payments. Lucas Cruikshank is building an empire with his Fred Figglehorn character.

-- Joe Flint

Follow me on Twitter because I said so: Twitter.com/JBFlint

The Morning Fix: Showtime shuffle! Box-office trading blow. Would you like fries with M. Night Shyamalan?

After the coffee. Before a moment of sadness over Detroit closing two parks I played in as a kid.

See ya, Showtime. Bob Greenblatt, the head of pay cable channel Showtime, is making his exit. Greenblatt, a veteran of Fox and his own production company, oversaw Showtime's emergence as a programming force with original series such as "Nurse Jackie," "Dexter" and "Californication." In line to take the Showtime gig is another respected executive: David Nevins who stepped down as head of Imagine TV ("24," "Friday Night Lights," Arrested Development," "Parenthood") Thursday. As for Greenblatt, his name has been bandied about for a big job at NBC after its merger deal with Comcast closes, but we'll just have to see about that. Deadline Hollywood broke the news about Nevins leaving Imagine. Variety broke the news about Greenblatt leaving and Nevins likely succeeding him. And I link to the Los Angeles Times as well because, well, I'm a homer. 

A new Night. Director M. Night Shyamalan, who hit his first couple of movies out of the park ("The Sixth Sense," "Unbreakable") before hitting a slump ("The Happening") is back with "The Last Airbender." But this time he's got some backup from some unusual sources -- Nickelodeon and McDonald's. The movie is based on a Nickelodeon cartoon and is a step away from his supernatural stuff. "For the last 10 years, I've been working in a cottage industry of the supernatural," said Shyamalan. "And I've always had my eye on doing a franchise," he told Claudia Eller of the Los Angeles Times. 

Put a hold on box-office futures trading. The House-Senate conference committee hammering out the bill on financial reform that was approved Thursday night included a ban on the creation of a box-office futures trading market. This likely puts a fork in the plans of the two companies behind the plans for an exchange, although one says the fight will go on. Details from the Hollywood Reporter and the Wrap.

Hit the pause button. Apparently NBC Universal and Comcast are having a hard time getting their paperwork together. The Federal Communications Commission is complaining that neither answered all the questions the agency sent the two companies as part of its review of the merger deal. Comcast said its issues were "technical." No word what NBC Universal's issues were. The FCC said it would resume its review as soon as it gets more info. Broadcasting & Cable has the story.

Watching Hulu on a PlayStation. Yes, it could become a reality! Bloomberg reports that Sony Corp. is putting the finishing touches on a deal in which its users could access Hulu via the PlayStation network. Obviously, getting into the video game consoles could mean a bigger audience for Hulu and create yet another option for people wanting content but don't want cable. But I'm a little jaded about all the Hulu coverage when its own future has lots of questions. (What will Comcast do with NBC's stake after their deal closes and will the pay model work?) The Wall Street Journal updates Hulu's pay plans. 

A different Current. The Hollywood Reporter takes a probing look at Current TV, the news and public affairs cable network started by Al Gore that originally was going to subsist primarily on user contributions. Last year, after efforts to either sell (no takers, not even Google, says THR) or go public stalled out, former MTV executive Mark Rosenthal was brought in as chief executive, and he's now reaching out for help from his old pals, including Brian Graden, the former MTV programmer who is consulting Current. On the business side, Current's next big challenge is renewing its distribution deal with Time Warner Cable, the nation's second-largest cable operator. Fortunately for Current, Comcast, the country's biggest cable operator, has a stake in it.

More of the same. The Daily Beast's Rachel Sklar says the country may be getting more diverse but cable news isn't.

Inside the Los Angeles Times: Dave Smith may know more about Disney than anyone named Disney. The Weinstein Co. may have taken care of some debt headaches, but is the short-term fix enough for the art house to turn around? Looks like another big weekend for "Toy Story 3."

-- Joe Flint

Now with 70% more sarcasm. Follow me on Twitter: Twitter.com/JBFlint