Digest: Screenvision staffing change
EmptyCinema advertising company Screenvision has appointed Steve DeLorenzo chief operating officer and chief financial officer. Reporting to president and CEO Matthew Kearney and based in New York, DeLorenzo will "lend strategic guidance to Screenvision's executive committee and provide leadership on finance and operations," the company said Tuesday. DeLorenzo most recently served as chief operating officer and chief financial officer for independent home video title supplier GT Brands Llc., where he played lead roles in the sale of GT's entertainment as well as its merchandising services businesses.
Joint venture pitfalls
RBC Capital Markets analyst Jordan Rohan argued in a research report Tuesday that a possible joint venture of entertainment giants to rival Google Inc.'s YouTube is "poised to fail." As key reasons, he cited the possible pitfalls of a joint venture structure and said "imitations rarely resonate with Internet thought leaders and consumers." He also said that Google investors should brace themselves for $500 million in content license fees "to stem lawsuits and convince the big media companies to work with YouTube."
Media firm E.W. Scripps said Tuesday that its Scripps Networks unit boosted November revenue 17% year-over-year to $96 million. Advertising revenue rose 16%, and affiliate fee revenue increased 11%. Scripps Networks includes such cable networks as HGTV and Food Network. It has been one of Scripps' key growth engines in recent years. At the firm's TV station group, revenue rose 26% to $39.6 million in November. Scripps cited the strength of political advertising as a key reason as revenue from that category reached $10.2 million for the month, compared with $1.4 million a year ago.