The Morning Fix: Sony stung, more commercials on Fox, Sumner can’t shake Midway

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After the coffee, before the conference call.

Sony posted a loss of $1 billion, its first annual net loss in 14 years and issued a grim forecast for the year ahead as sales for televisions and other gadgets continue to suffer in the global economic meltdown. Profit for Sony’s Picture division, which includes movies and television, dropped 48%. Theatrical revenue from ‘Hancock’ and the surprise hit ‘Paul Blart Mall Cop’ were a bright spot, says Variety.

Fox Broadcasting is scrapping its year-old ‘remote-free TV’ campaign in which it aired fewer commercials in several of its prime time shows in an effort to keep viewers from channel surfing. Fox Sales chief Jon Nesvig told The Wall Street Journal the strategy was successful, but that the current advertising market is too soft to make the approach ‘economically viable’ at the moment.

Under pressure from several state attorney generals including New York’s Andrew Cuomo, Craig’s List, the classified advertising website is closing its controversial ‘erotic services’ section and replace with ‘adult services,’ which would be heavily monitored. The move comes a month after the high profile murder of a woman who advertised massage services on the site. The New York Times quoted Cuomo calling Craig’s List’s move ‘half-baked.’

Continuing its efforts to remake its news operation, Bloomberg LP has tapped Google product management director Ien Cheng as chief of staff of its multimedia group. A former Financial Times website editor, Cheng said in an email disclosed by The Wall Street Journal that he will be at ‘the heart of Bloomberg’s newly established ambitions to be a substantial player in consumer news.’

Comcast still wants to play ball. Cable giant Comcast Corp. said it has no plans to sell either the Philadelphia 76ers or Flyers, regardless of the poor economy. At its annual shareholder meeting yesterday, Comcast CEO Brian Roberts was criticized over the company’s relationship with unions. The Philadelphia Inquirer.

In today’s Los Angeles Times: McDonald’s and Twentieth Century Fox team up on a marketing pact while Viacom CEO Sumner Redstone just can’t shake Midway Games.

--Joe Flint