EmptyThe big easing
Emmis Communications said Monday that it is selling Fox affiliate WVUE-TV New Orleans to Louisiana Media for $41 million. The company now has sold all of its 16 TV stations, completing its exit from that business.
No joy in Midville
Midway Games posted a first-quarter loss Monday that was better than what Wall Street analysts expected, but the video game company guided its second quarter down. Midway shares, off 3.3% during the regular session to $2.34, sunk more than 8% in after-hours trading. Midway's loss widened from a $19.8 million loss a year ago to $34 million. For the second quarter, it expects revenue of about $18 million; analysts expected $41.6 million.
DOWN WITH OOP
Amazon, Sony BMG and EMI Music said Monday that they will make available hundreds of out-of-print albums on CD through CreateSpace's Disc on Demand and offer the titles on Amazon.com. The new CDs will be manufactured on demand and shipped when customers place an order.
NOT DOWN WITH WPP
U.K.-based market research company TNS rejected a $1.9 billion acquisition offer from ad agency holding company WPP Group, saying it was not in the best interests of shareholders. "The board has no hesitation in rejecting this opportunistic proposal as it substantially undervalues the company even on a stand-alone basis," TNS chairman Donald Brydon said. TNS competes with the Nielsen Co., parent of The Hollywood Reporter.