Viacom early this year promoted David Lynn to the role of president and CEO of Viacom International Media Networks (VIMN).Based in London, but also regularly working out of New York, the former president of VIMN’s operations in the U.K., Northern and Eastern Europe now has management oversight of all of Viacom's media networks and related businesses outside the U.S., reporting to Viacom CEO Bob Bakish.Viacom branded networks reach more than 4.1 billion cumulative subscribers in more than 180 countries and territories via more than 290 locally programmed and operated channels in more than 40 languages.For the latest fiscal year, ended in September, VIMN's revenue increased 12 percent to $2.13 billion, or about 16 percent of the company's total revenue of $13.26 billion, as advertising rose 14 percent and affiliate revenue climbed 6 percent.After nearly a year in his post, Lynn talked to THR about how VIMN has become a laboratory of sorts for experiments with new … [Read more...] about Viacom Int’l Media Networks CEO on Working More Closely With the U.S., Growth Drivers
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AMC Entertainment Inc. was selected as the Lead Employer of the Year by the U.S. Business Leadership Network (USBLN) at the 2011 USBLN Annual Leadership Awards Dinner.The USBLN, the national disability organization, serves as the collective voice of over 60 affiliates across North America, representing over 5,000 employers. The annual awards are intended “to further the USBLN mission of identifying leading disability workplace, marketplace and supply-chain practices in use today,” according to the organization.This year, AMC created a new national employment outreach program, FOCUS (Furthering Opportunities, Cultivating Untapped Strengths), designed to encourage and facilitate the hiring of people with disabilities at AMC Theatres. The program, which has gone from one participating theatre to more than 70 in just a few months, continues to grow, more than doubling the number of people with disabilities in its employ."We at AMC take great pride in fostering a work … [Read more...] about U.S. Business Leadership Network honors AMC Entertainment
Some of the biggest names in U.S. business are making their voices heard in the debate over whether the United States should stay in the Paris Climate Agreement. The 195 nation treaty from 2015 was one of the Obama administration’s most significant second term achievements.In a recent full page ad which ran in the New York Times and other major newspapers, Adobe, Apple, Google, Morgan Stanley, Salesforce, Microsoft, PG&E and numerous others beseeched President Trump not to withdraw from the agreement.“As businesses concerned with the well-being of our customers, our investors, our communities, and our suppliers, we are strengthening our climate resilience, and we are investing in innovative technologies that can help achieve a clean energy transition,” they wrote. “For this transition to succeed, however, governments must lead as well.”The ad went on to mention “strengthening competitiveness,” creating jobs, markets, and growth,” … [Read more...] about ‘Governments Must Lead’: U.S. Corporations Beg Trump to Stay in Paris Agreement in Full Page
White House press secretary Josh Earnest said in response to the startling stock dive Monday morning that people should take heart in the “ongoing strength and resilience of the U.S. economy.”“What would you say to Americans watching this volatility, the market is going up and down, about how what’s happening in China could affect the U.S. economy?” asked a reporter.Earnest responded that it was true that international markets were all interconnected, and what happens in Asia could affect the United States. “But what I would encourage people to evaluate is the ongoing strength and resilience of the U.S. economy.”“U.S. businesses over the last 65 consecutive months have added 13 million jobs, that’s the longest sustained private sector job growth streak in American history,” he said. “The unemployment rate here in the United States is at 5.3%, which is the lowest level in seven years.”Earnest added that “the … [Read more...] about Josh Earnest Stresses ‘Strength and Resilience of U.S. Economy’ After Stocks Dive
Vice president Joe Biden has expressed concerns about the treatment of U.S. journalists by the Chinese government, after some reporters were threatened with the non-renewal of the journalist visas they need to work in China.Biden was in Beijing as part of a weeklong tour of Asia, which also includes Japan and South Korea. He engaged with President Xi Jinping for approximately five hours of discussion.The vice president also met with a number of the U.S. journalists in a bar in a Beijing hotel. While there were no details given of which journalists he met with, it is believed they included reporters from the New York Times and Bloomberg, who may be forced to leave China this month in what some say is retaliation for negative stories about government figures.Both American news organizations have had their websites blocked in China since late last year, after each published detailed investigative reports exposing the wealth amassed by the relatives of Chinese leaders -- including Xi and … [Read more...] about Joe Biden Expresses Concerns Over China’s Treatment of U.S. Reporters
The media investment and advisory firm's founder David Glick is heading to New York on Wednesday for a slate of meetings to build bridges with U.S. promoters."We see great potential in helping entrepreneurial U.S. businesses not only to develop in their home live music market, but also to export their expertise and ideas to Europe," Glick said.The firm's Edge Performance Venture Capital Trust has already raised $40 million in its first two funding rounds, according to a spokesman, and expects to raise a similar figure in the next round of funding, details for which will be unveiled in October.Glick is bullish on the VCT's potential. "We expect to have $100 million to invest in the live music and events business within 18 months," he said, "and under U.K. tax rules we can invest up to half of it outside the U.K."Edge Group launched its VCT in early 2006 as a tax efficient investment scheme intended for individual investors, catering for levels ranging from £5,000 ($10,000) to … [Read more...] about Edge Group branching out to U.S.
COMPLETE DUBAI FEST COVERAGEDespite several chances to take the bait and swallow whole, Tony Shalhoub painstakingly resisted. The star of "AmericanEast" was on hand Monday in Dubai to tub-thump the indie movie, which focuses on Arab-American immigrants in post-Sept. 11 Los Angeles, specifically their relations with their Jewish neighbors. The film screened Monday afternoon at the Madinat Jumeirah during the fourth annual Dubai International Film Festival.Like most news conferences at film fests around the world, there are inevitably questions from the floor that tend to go for the jugular.In this case, the discussion, in both Arabic and English, focused on whether the American public and the American media and entertainment biz were actually changing their attitudes toward Arabs."So many times, Arabs have been shown in a negative light," Shalhoub told the 50-odd reporters, but, he added, "things are beginning to change."The past six years since Sept. 11, he went on, have prompted … [Read more...] about Shalhoub aims to change Arab image in U.S.
"We saw a very positive sales increase for televisions, computers and PS3 in particular," Sony CEO Howard Stringer told a group of reporters on Thursday."I don't think there were any negatives, but we need a little more time to find out how big it was."Year-end sales are critical for Sony and other consumer electronics makers as they represent a big chunk of their annual revenues.Sony, which pioneered the mobile music market 30 years ago with its Walkman and once ruled the global television industry in the era of box TVs, has been struggling to keep pace with nimbler South Korean rivals and innovative U.S. IT firms in recent years.Its portable music players are in the shadow of Apple Inc.'s iPod, and the maker of Bravia LCD TVs lags a long way behind Samsung Electronics Co Ltd. in the global flat TV market.In a bid to turn its fortunes around, Sony last month unveiled new business plans and performance targets, including achieving a 5% operating margin and return on equity of 10% by … [Read more...] about Sony sees robust early U.S. holiday demand
The National Bureau of Economic Research, the country's business cycle arbiter, surprised investors by declaring that not only has the U.S. economy lapsed into recession but that it began a year ago and the downturn could be the worst since World War II. The Dow took note and slumped 680 points, down almost 8% on the day. The current recession, which many economists expect to persist through the middle of next year, is already the third-longest since the Great Depression, behind only the 16-month slumps of the mid-1970s and early '80s.Meanwhile, Redstone on Monday fired the opening salvo in his war on debt, selling his stake in video game maker Midway Games for only $100,000 plus the assumption of debt. The move makes for a loss in the investment for Redstone that is estimated in the hundreds of millions of dollars. With the clock ticking down to a Dec. 19 deadline to repay or restructure a big pile of debt at his holding company National Amusements, the Redstone family's team of … [Read more...] about U.S. recession made official
When Joel Stillerman arrives at the Emmy Awards Sept. 17, he'll do so with divided loyalties.A piece of him will be cheering on Better Call Saul, a best drama series nom that he greenlit and then shepherded as president of original programming and development at AMC, where he spent the bulk of that last decade. Though a prequel to another series (Breaking Bad) that predated Stillerman, Saul quickly became an integral piece of the networks' next generation of flagship hits alongside Preacher and The Walking Dead.The other, likely louder piece, will be rooting for The Handmaid's Tale, a series that, in a matter of weeks this spring, helped elevate Hulu, where Stillerman, 56, began as chief content officer in late June. As he looks to lean more aggressively into original programming (along with acquired fare), the eerily timely dystopian drama could prove both a model and a calling card.Indeed, Stillerman's move, to the newly created position overseeing content … [Read more...] about Hulu’s New Creative Chief on the ‘Handmaid’s Tale’ Halo, Netflix and His $2.5B U.S. Budget