Industry related:
Media Executives to Discuss Technology, Ads at N.Y. Conference
New York, Dec. 2 (Bloomberg) -- The convergence of the
Internet and TV and the health of U.S. advertising will dominate
the talk at next week's annual PaineWebber Media Conference,
which hosts some of the industry's most influential executives.
More than 35 companies will take part in the weeklong event
in New York. Viacom Inc. Chairman Sumner Redstone, Seagram Co.
Chief Executive Edgar Bronfman Jr., AT&T Corp. Chief Financial
Officer Daniel Somers and Washington Post Co. President Alan
Spoon are among the executives scheduled to speak.
Digital technology is reshaping the media world, creating
platforms such as the Internet and digital video discs that can
deliver movies, TV and other content to consumers in new ways.
Traditional media companies are racing to take advantage of these
developments. At the same time, they continue to gain from the
robust ad market that is a lifeblood of their business.
''There are two overarching trends that are driving these
companies -- the continued strength of the ad market and the
opportunities that exist for companies that manufacture content
as well as develop new digital delivery platforms,'' said
PaineWebber analyst Christopher Dixon.
Companies have used the annual conference to highlight the
financial performance of each of their businesses, including
forecasts for revenue, earnings and cash flow growth.
Also delivered each year are widely watched ad-spending
forecasts by Robert Coen, director of forecasting for McCann-
Erickson Worldwide, and John Perriss, chairman of Zenith Media
Worldwide.
Some of the world's largest ad agencies, such as Interpublic
Group of Cos. and Omnicom Group Inc., also will be on hand to
discuss developments in the ad market, including the Internet,
which is one of the fastest-growing new segments.
Radio and TV
Broadcasters, including Emmis Communications Corp., Sinclair
Broadcast Group Inc., Clear Channel Communications Inc. and
Paxson Communications Corp., are likely to discuss how they're
taking advantage of new station ownership rules.
The U.S. Federal Communications Commission in August set
rules that allow a single company for the first time to own two
TV stations in certain large markets. That's already led to a
series of transactions, including Viacom's agreement to buy CBS
Corp.
The Internet also is a large factor in the strategies of
traditional media companies. Most are rushing to extend their
brands and build new franchises online.
Some are taking advantage of investor demand for Internet
stocks by creating a separate ''currency'' for their Web holdings
by issuing tracking stocks or spinning off the units. The
president of one such company, go.com, Walt Disney Co.'s Internet
tracking stock, will address the conference on Wednesday.
Cable and satellite TV companies, including Comcast Corp.
and DirecTV, will likely discuss the growth of digital TV and new
legislation that allows satellite companies to carry local TV
stations' signals for the first time. The satellite industry has
contended that the lack of local programming has been the biggest
reason that consumers choose cable TV over satellite TV.
quote.bloomberg.com |
