Digest: GoFish adds Guber to board
EmptyUser-generated online video company GoFish Corp. has added Peter Guber, chairman and CEO of Mandalay Entertainment, to its board. The company last week also started public trading and closed an initial $12 million in financing. "The traditional content and entertainment business is being transformed by consumers and user-generated video," Guber said. "Professional content creators will need to adapt to a fundamentally new form of storytelling, one where users become a critical part of the creative process." GoFish is known for "America's Dream Date," the first reality-themed online show utilizing user-generated video.
THQ delays Q2 results
Video game maker THQ Inc. said Friday that a review has found irregularities in its stock-option granting practices and it will delay filing final fiscal second-quarter results until after making potential restatements. Preliminary quarterly results beat Wall Street expectations as it swung to a profit of $12.6 million, compared with a loss of $1.4 million a year ago. Revenue rose 68% to $240.2 million.
Entercom Q3 down 26.7%
Radio station operator Entercom Communications on Friday reported a third-quarter profit decline of 26.7% on a combination of lower revenue and higher expenses. The company posted a profit of $16.2 million, down from $22.1 million a year ago. Revenue fell 0.6% year-over-year to $114.3 million. Entercom also said it expects fourth-quarter same-station revenue to grow in the mid-single-digit percentage range.