News Corp Extends MLB Contract and 3 Hot Stocks Trading Mid-Week
News Corp‘s (NASDAQ:NWS): Fox and Time Warner’s (NYSE:TWX) Turner networks will extend their contracts to televise Major League Baseball until 2021 with Bloomberg reporting that the broadcasters have agreed to pay a combined $6.8 billion. The contracts will allow Fox and Turner to stream live games via the Internet to viewers who already subscribe to a pay TV service.
CBS (NYSE:CBS): Over the years, CBS has produced hit television shows to keep the station at the top of the rating charts. By 2017, as the programs get a second life on cable networks, the company expects to rake in over $1 billion in retransmission and reverse compensation fees. The revenue churned up by their content also helps CBS to reduce their dependence on fickle advertising.
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Pearson (NYSE:PSO): After sixteen years in the job, Chief Executive Officer Marjorie Scardino will step down at the end of the year and be replaced by John Fallon as the head of the United Kingdom Publisher’s International Education division. Under her leadership, Scardino, who was the first female head of a FTSE 100 company, Pearson’s net profit more than tripled to £942 million in 2011.
Millennial Media (NYSE:MM): According to Millennial Media’s Chief Executive Officer Paul Palmieri, mobile ads are “the only advertising medium available continuously throughout the day.” He made a bull case for a platform whose effectiveness has been questioned because of concerns over tiny displays as well as the ability to turn clicks into purchases. Palmieri did note that mobile only accounts for 1% of ad spending and 10% of media consumption. It might not be necessary for that gap to be eliminated in order for the market to see rapid growth.