ESPN’s New Contract, Toyota Sees China Sales Return: Consumer Business Wrap
ESPN (NYSE:DIS) will be the exclusive broadcaster the upcoming college football playoff system, starting with the 2014-15 season, as the network has won a 12-year contract for the games. Although the financials were not reported, some published reports indicate that it will be for approximately $500 million yearly.
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The candle, health and wellness products maker Blyth (NYSE:BTH) announced that it will pay a $22 million dividend to its shareholders, although as the majority shareholder, Blyth itself will receive 72.7 percent of the dividend, according to a Tuesday press release.
Toyota Motor Corp. (NYSE:TM) has been suffering losses to its sales in China due to the territorial dispute, but now says that it expects demand for Japanese cars to quickly return to levels seen prior to protests that began in September. Retail sales at its Chinese joint venture, GAC Toyota Motor Co., are rebounding close to the previous levels, according to Executive Vice President Feng Xingya at a briefing in Guangzhou Tuesday. Also, Nissan Motor Co. (NSANY.OB) reported that its November orders and dealership traffic in China have come back. These companies plan to join General Motors Co. and Volkswagen (VLKAY.PK) at the Guangzhou auto show this week, which marks the first major marketing event held since rioters smashed cars and burned dealerships two months ago.