Hulu is close to naming Fox executive Mike Hopkins as the CEO of the company, according to sources with Bloomberg. Hopkins’ position is currently the president of distribution at Fox Networks. He will be replacing Hulu acting CEO Andy Forssell. Hopkins is experienced in negotiating with pay TV services.
News Corporation Posts
News Corporation is preparing to launch a professional social network called WSJ Profile. During News Corp’s investor day in New York, Dow Jones CEO Lex Fenwick revealed that they are going to turn the Wall Street Journal into a platform so that users can do more than just reading the news.
Roku is a digital TV entertainment company that has raised $60 million in funding led by Fidelity. Hearst Corporation also participated in this round of funding. Previous investors that participated in this round include BSkyB, News Corporation, and Dish Network. Roku has raised a total of $130 million thus far.
Executives at CBS Corporation and News Corporation are planning on making their TV networks a paid subscription because of a court decision that upholds Aereo’s right to stream broadcast TV without having to pay retransmission fees. FOX and CBS are looking for alternative ways to monetize their TV content including cutting off broadcast signals for a subscription-only model.
The high-quality video streaming content website Hulu is not for sale, but they are still receiving offers. AllThingsD is reporting that several potential acquirers have reached out to Hulu’s corporate parent companies, but they have not made a formal offer yet.
News Corporation is shutting down The Daily. This is why their staff members put together this music video to the tune of the song “So Long, Farewell.” The Daily started as an iPad-only publication in February 2011 and they hit around 100,000 subscribers in their first year. The subscription was $0.99 per week, but it costed News Corporation around $53 million per year to produce the publication. A lot of the workers are being laid off and some of them will work for The Post. Around 50 of the 170 staff members of The Daily was laid off in July. Check out the music video below:
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News Corporation announced today that they are shutting down the iPad-only digital newspaper publication known as The Daily effective December 15, 2012. The Daily will become part of a brand in “other channels” like The New York Post according to a News Corporation press release. The New York Post will adopt The Daily’s technology section and other components.
News Corporation is working with Allen & Co. to auction off the IGN Entertainment division of the company. IGN has a network of pop culture websites with an emphasis on video games. IGN’s websites has hub pages for the Xbox 360, PlayStation 3, TV, movies, and technology.