EmptySTILL the CHIEF
Rolf Schmidt-Holtz has signed a new three-year deal to continue as CEO of the soon-to-be renamed Sony Music Entertainment. Terms of the deal were not released.
Shares of General Electric, parent company of NBC Universal, recovered from a 12-year low Thursday after the company confirmed that it plans to pay a dividend through 2009. GE said its plan to maintain the 31 cents-per-share dividend was "unchanged." After the stock sank to $14.66 — its lowest point since September 1996 — it recovered, closing 3.5% higher at $16.86.
BBC director general Mark Thompson warned staff Thursday that finances will continue to tighten, announcing cutbacks and efficiencies related to the sliding value of the pubcaster's property portfolio. He said the BBC faces a potential £140 million ($207 million) shortfall.
KENT SUES CANWEST
Canadian journalist Arthur Kent, known as the "Scud Stud" for his live NBC reports during the 1991 Gulf War, filed a libel lawsuit Thursday in New York State Supreme Court against CanWest Global Communications. Kent said the lawsuit relates to a profile of him in the Calgary Herald.