New Blockbuster CEO Jim Keyes yesterday laid out a strategic vision that aims to transition the company from a rental service to a retail one by stocking its stores with devices like mobile phones and video game consoles, while adding digital...
Citigroup Inc. said former Chief Executive Officer Chuck Prince, who resigned this week after the bank lost at least $11 billion on subprime mortgage investments, will keep about $30 million of stock and option awards when he leaves. Prince, who...
THOSE crazy Spy guys are being reunited at Vanity Fair. Kurt Andersen has just inked a one-year deal to write two big articles for Graydon Carter at Vanity Fair estimated to be valued in the mid-five figures. The two were once inseparable pals...
Retail sales Sales at Wal-Mart, Macy's and other U.S. retailers trailed anal ysts' estimates last month. U.S. October retail sales increased 1.6 percent, the worst for October since 1995's 0.2 percent increase, the International Council of Shopping...
Walt Disney Co. said fourth-quarter profit rose 12 percent on ESPN's "Monday Night Football" and theme-park gains, reflecting Chief Executive Officer Robert Iger's focus on television and tourism. Net income rose to $877 million from $782 million...
Providence Equity Partners, the media-focused private-equity firm run by Jonathan Nelson, is backing away from its $1.2 billion deal to acquire 56 TV stations from radio giant Clear Channel Communications, according to several sources familiar with...
Network and studio bosses downplayed the financial impact of the writers' strike yesterday even as the weeklong walkout continued to take a toll on the television business. With earnings season in full swing, top media executives sought to...
Dethroned press baron Conrad Black denied reports that he would seek to serve his prison sentence in a U.K. jail, which would likely let him out on parole earlier than a U.S. facility. Canada's National Post reported yesterday that lawyers for...
Vonage Holdings Corp., the money-losing Internet-phone service, reported third-quarter earnings that beat analysts' estimates, a month after settling patent lawsuits that threatened the company's existence. The net loss widened to $161.8 million...
Cablevision Systems yesterday posted a wider third-quarter loss but delivered solid results in other areas, driven mainly by subscriber growth in digital services and strength of its Rainbow Media programming unit. The Bethpage, L.I.-based company...
Ben Bernanke fielded hostile grilling yesterday by politicians exasperated over the weakening economy and its toll on Americans - and briefly sent stocks tumbling as he conceded harder times are ahead. The Federal Reserve chairman offered familiar...
The first signs of a crack appeared yesterday in the art world's hyper-inflated prices when cautious buyers boycotted $30 million-plus price tags on masters such as Vincent Van Gogh and Pablo Picasso. The surprising revolt by well-heeled...
Global banking giant HSBC has put up the white flag in its grab for dominance in the mortgage market by closing its three-year-old asset- and mortgage-backed securities department and firing the staff. HSBC's attempt to become a predominant player...
