DOW JONES- $13,107.21

S&P 500- $1411.94

NASDAQ- $2987.95

The Walt Disney Co.- $50.08

News Corp.- $24.21

Time Warner Inc.- $43.64

In news from my industry, entertainment diversified, according to the Sunday Times, News Corp.’s Robert Murdoch has indicated that it will make a substantial cash offer for media conglomerate Pearson’s Penguin Group, joining the race for the book publisher. It is said that the bid could total $1.6 billion and could scupper plans to tie Penguin with Random House, owned by Germany’s Bertelsmann. As of right now, News Corp. owns book publisher HarperCollins. According to the report, the combination of HarperCollins and Penguin together would have a market share of 20 percent, while a combination of Random House and Penguin would control nearly 30 percent of English-language book sales. Pearson confirmed on Thursday that it was in talks with Bertelsmann, but said the two had yet to agree to a deal. If News Corp. does in fact join forces with Pearson it could be a great and profitable venture that will benefit stockholders significantly. However, if Pearson joins with Bertelsmann, News Corp. could lose money in the long run.

In other news from my industry, according to Reuters, premium cable network HBO delayed the launch of video and online distribution of its programming in four Scandinavian countries, giving a head start in the region to a video streaming service by rival Netflix Inc. HBO Nordic, the joint venture that runs the service, said in a statement to Reuters it had “slightly” pushed back the start date in Finland, Norway, Sweden and Denmark. It did not give a precise reason for the delay. HBO Nordic is a joint venture between Time Warner Inc –owned HBO and Parsifal International. Netflix launched its on-demand video service in the Nordic countries last week. As a result of this area being a “global battleground” for television delivered over the internet, this delay by HBO Nordic may very well cause Time Warner stocks to decrease.

DOW JONES- $13,343.51

S&P 500- $1,433.19

NASDQ- $3005.62

The Walt Disney Co.- $51.90

News Corporation- $25.36

Time Warner Inc.- $44.93

In news from my industry, entertainment diversified, according to Bloomberg News Corp.’s Roger Ailes signed a four year contract extension to lead the network and Fox Television Station. Ailes was the man who built Fox news into the most watched cable news outlet. At seventy-two, Ailes will remain chairman and chief executive of Fox News and chairman of the Fox stations. Ailes is among the company’s highest paid executives, making more than $21 million in salary, bonus and stock awards in the fiscal year that ended June 30. According to SNL Kagan, Fox News was expected to generate more than $1.8 billion in revenue in 2012. In my opinion, the resigning of Ailes will allow News Corp. to continue growing in popularity and its success.

In other news, according to seekingalpha.com, IMAX Corp. stock is trading around $21.50 which is up 37% from the past years 52-week range of $15.33-$26.68. Films such as the Dark Night Rises, Resident Evil: Retribution, and the Amazing Spiderman, are expected to have a positive impact on revenues with consensus being 75.7 million, which is up from $67.5 million reported last year. China is operating 98 IMAX theaters, making it an important market for the corporation. Given the non-competitive nature of the market, and the weak economy in China, Management’s color on the performance in China will be important. The biggest risk for investing in IMAX is the health of the box office. The companies choice of films, the timing of the films, and the overall performance will be the primary focus of investors. I believe that if IMAX can continue to grow and do well than the whole entertainment industry will benefit.

Also in news for my industry, News Corp.’s Rupert Murdoch denied it has held talks to acquire the Los Angeles Times or Chicago Tribune once the newspapers’ owner, Tribune Co., emerges from bankruptcy. I think this would be a positive and smart deal for News Corp. I think this deal would have significantly increased revenue and popularity. However, it may take some time for News Corp. to begin reaping the benefits of a deal like this so I understand why this deal may not be made.

DOW JONES- $13,328.85

S&P 500- $1,428.59

NASDQ- $3044.11

The Walt Disney Co.- $50.59

News Corporation- $24.58

Time Warner Inc.- $45.06

This week in the industry of entertainment diversified, according to Bloomberg, Providence Equity Partners Inc. sold its ten percent stake in Hulu.com back to the company for $200 million. This deal is said to value the video service at around $2 billion. Hulu is borrowing the money to fund the repurchase. Hulus’ Chief Executive Officer will receive about $40 million from this deal. As a result of this deal, it is said that employees of Hulu will be able to sell shares. Providence had invested $100 million in Hulu when the venture began in 2007. Disney, News Corp. and Comcast’s NBC Universal each held roughly equal stakes, while employees owned about ten percent.

I am not exactly sure how this deal will affect stock prices, however the stock prices of those companies that have stakes in Hulu, such as Disney and News Corp., have dropped significantly, whether it is a direct result of this deal taking place or not I cannot be sure but it may very well have affected them.

In other news from the industry London’s Sunday Times said it may take legal action against cyclist Lance Armstrong. This legal action could include pursuing him for alleged fraud over a liberal settlement, in the wake of the report labeling him a drug cheat. The newspaper is owned by Rupert Murdoch’s News Corp. Armstrong  sued the Sunday times and two of its journalists over an article that appeared in the paper in 2004 that concerned the doping allegations. A senior source at the newspaper said that the case cost them about $1 million dollars. In August, Armstrong said he would no longer contest charges brought by the anti-doping agency.

Now that Armstrong is no longer contesting these charges, those that have endorsed him and supported him in any way may very well suffer from the huge fall of this once praised athlete. 

DOW JONES- $13,610.15

S&P 500- $1,460.93

NASDQ- $3136.19

The Walt Disney Co.- $52.97

News Corporation- $25.48

Time Warner Inc.- $46.18

This week in the industry of entertainment diversified, according to Bloomberg, the first debate between President Obama and candidate Mitt Romney attracted 67.2 million viewers which is 28% more than the first debate four years ago. The Walt Disney Company’s ABC drew 11.3 million viewers and News Corporation’s Fox News received 10.4 million viewers, which led all cable networks. NBC drew 11.1 million viewers, CBS averaged 10.6 million viewers and Fox Broadcasting network drew 6.9 million. Time Warner Inc.’s CNN drew 6.05 million and MSNBC had 4.71 million. This is great news for the broadcast networks, increased viewing at this stage in the campaign will hopefully mean higher viewing percentages throughout the entire campaign.

Also in the news for entertainment diversified, according to Wall St. Cheat Sheet, The Walt Disney Co. reached a carriage agreement with Cablevision. This deal will allow Cablevision to offer its customers popular channels like ABC, ESPN, Disney Channel and many others. This will expand Disney’s reach and will hopefully increase stock prices and revenues.

Other news includes News Corporation pushing the Media industry higher on Thursday and was the days featured media winner. The industry as a whole closed the day up 1.4% and by the end of trading News Corp. rose twenty-eight cents.

In other news, according to Wall St. Cheat Sheet Doug Kass a Hedge-fund manager says he is unimpressed by Apple’s performance this year and feels the company may be losing its golden touch. Kass feels that Apple is losing some mojo and mindshare. He, along with other analysts feel that the reaction launch of the iPhone 5 has not been as positive as previous Apple products have seen and this is the first time Apple has no wow factor compared to other products in the market.