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Fox Interactive Loses $38M In Q2 Says NewsCorp

by Jason Wilk on February 5, 2009

  • In a depressing earnings call today with the NewsCorp team, Rupert Murdoch outlined the $6.4 billion loss. Murdoch said “the downturn is more severe and likely longer lasting than previously thought.” and “We are implementing rigorous cost-cutting across all operations and reducing head count where appropriate.”
  • MySpace earnings fall underneath the Fox Interactive Media section, which also includes products like PhotoBucket. MySpace is thought to bring in the majority of the revenues coming in from FIM. Here is what they had to say on the issue: “Fox Interactive revenues: $226 million revenues. Down due to reduced subs at IGN. Search and advertising were simliar to a year ago. Costs were MySpace Music and international expansion”. The entire division lost $38million.
  • I guess Murdoch and Sam Zell (purchased Tribune) were wrong to assume paper media is going to stay strong through the next 5 years. Cuts have already been made across the board, and there is no end in sight to how bad it will get.

Other must read NewsCorp/MySpace Articles:

LEAK: MySpace’s Recession Plan Is To Outsource

Michael Wolff: MySpace Users Are Doomed, Poor

MySpace MyAds Producing 160K A Day

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Join TinyComb @ Startonomics

by Jason Wilk on January 26, 2009

  • What’s Startonomics? It’s a one-day workshop designed by entrepreneurs for entrepreneurs on how to create simple, actionable metrics; and how to use them to make better product and marketing decisions for long-term growth and startup success. You cannot miss the all-star lineup at the event set to begin February 6th @ 9am. I will be there covering the event all day, be sure to come and say hello if you are attending. Grab the last few tickets available here. Here is a taste of who is set to come:

Richard Rosenblatt – Demand Media

Richard Rosenblatt

A serial entrepreneur and Internet visionary, Richard co-founded Demand
Media in May 2006 to become the leading distributed social media company.
Richard built, operated and sold numerous Internet media companies with a
combined value of over $1.3 billion. He served as CEO of Intermix Media,
Inc., and Chairman of Myspace.com, during which time the public market
capitalization grew from $70 million to over $650 million, until acquired by
News Corporation. Richard previously founded then sold iMALL, one of the
first Internet companies to recognize the power of user-generated content,
to Excite@Home for $565 million. Richard is a Southern California native,
with a BA from UCLA and JD from USC Law School.

  • 1:30 – 2:00 - Afternoon Keynote Address (Keynote)

David O. Sacks – Yammer

David O. Sacks

David O. Sacks is the Founder and CEO of Yammer, Inc., a communications tool
for enterprises. Yammer.com launched at the TechCrunch 50 conference in
September 2008 and won Best In Show. Yammer was originally developed at
Geni, Inc., a startup founded by David in June 2006. Geni.com is creating a
family tree of the whole world, enabling millions of family members to
connect, share, and preserve their lives. Previously, David was the COO of
PayPal, helping to lead the company to a successful IPO and $1.5 billion
sale to eBay. He also produced the movie “Thank You For Smoking” for which
he was nominated for a Golden Globe.

  • 9:00 – 9:30 - Morning Keynote Address (Keynote)

Peter Pham – BillShrink

Peter Pham

Peter is CEO of BillShrink. He was previously VP Business Development & employee #5 at Photobucket.com, and was responsible for customer acquisition, strategic partnerships, and corporate development. Photobucket was acquired in 2007 by Fox Interactive Media, a division of News Corporation. When Peter left in 2008, Photobucket had grown to over 61M users making it the #1 photo sharing site and the 38th most visited site in the US. Prior to Photobucket, he was involved in multiple enterprise startups in areas such as mid-range server computing, software as a service, solid state storage, and mobilization of enterprise software. Peter has held multiple roles including sales, marketing, reseller channel development, product, and strategy. He holds a BS in Biological Sciences with a minor in Business Management from UC Irvine.

  • 3:30 – 4:00 - Pitching & Packaging for Partnerships: How to Land Amazing Deals & Tell If They’re Working (Speaker)

Frank Addante – Rubicon Project

Frank Addante

Frank Addante, a serial entrepreneur, has a successful entrepreneurial track record. The Rubicon Project is Frank’s 6th company. Before the age of 30, Frank started 5 companies, resulting in 1 IPO, 2 acquisitions, 1 failure (we call that one “a learning experience”) and his last venture, StrongMail Systems. Addante lead StrongMail from inception, to an initial cash-flow positive business, to becoming the market leader in less than 4 years, raising over $30 million in venture capital.

  • 4:30 – 5:00 - The A-Team: The Dynamics of Olympic Startups (Speaker)

Neil Patel – ACS

Neil Patel

Neil Patel is the co-founder of 3 Internet companies: ACS, Crazy Egg, and KISSmetrics. Through these 3 companies he has helped large corporations such as AOL, General Motors, Hewlett-Packard and Viacom make more money from the web. By the age of 21 not only was Neil named a top 100 blogger by Technorati, but he was also one of the top influencers on the web according to the Wall Street Journal.

  • 12:00 – 12:30 - Finding Users: The Metrics of SEO for Customer Acquisition (Speaker)

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Give Me Lunch Or Give Me Death

by Jason Wilk on December 22, 2008

  • Fox Interactive chief Peter Levinsohn says that 2009 will be an “even rockier economic climate” and the company is taking steps to cut costs at each of their properties. Number one thing to go is part-time/contracted staff as well as FREE lunches. Don’t they know that lunch is where co-workers share ideas the most? Google would go under before taking away their employee cafes.

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Microsoft Begins Its Quest For Kumo With More Yahoo Talks…Supposedly

by Jason Wilk on November 30, 2008

  • It turns out we may have been onto something last week when we talked about how Microsoft and their new Kumo.com domain, partnered with Yahoo could be what it takes to start catching up to Google. Read here
  • As of today, Microsoft is in talks to acquire Yahoo’s online search business for $20 billion
  • Microsoft has no interest in another full takeover bid for the web giant, which it offered $47.5 billion to this summer.
  • Microsoft is only interested in Yahoo’s search market share a this point. They are tired of where they are positioned in the search market and Yahoo is the only potential deal of this decade that can potentially change that. Microsoft can’t even bribe users to come search with them over Google.
  • It is speculated that Jonathan Miller, chief executive of AOL, and Ross Levinsohn, a former Fox Interactive Media president, have been lined up to lead the new management team.
  • There is no certainty that this deal is going to happen, nor is there hard evidence that it even exists. News began circulating this morning with London’s TimesOnline, and has since caught fire in the blogosphere. However, Ross Levinsohn has gone on record claiming there is “no truth” to the story. Therefore, I would not be bettng high on Micrsoft this week over Yahoo acqusition talks. However, this news for Yahoo will only make them a stronger pick for the week than before.

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BleacherReport Raises More Money For Its Independent Sports Experts

by Jason Wilk on October 28, 2008

http://www.crunchbase.com/assets/images/resized/0001/4181/14181v1-max-150x150.png

  • Bleacher Report is a community publishing site for amateur sports writers. 
  • The site, which has grown from 500K to over 2M uniques in the last eight months has raised $3.5 million in Series B funding from Hillsven Capital, Gordon Crawford, and SoftTech VC. 
  • Their top content is syndicated with CBS Sports and Fox Sports online. 

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