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Jul 11, 2008

NEWS: Disney Interactive Media Group Integration Begins With Long List Of Exec Changes; Handler Retiring

Disney Interactive Media Group Integration Begins With Long List Of Exec Changes; Handler Retiring

imageMajor executive changes at the Disney (NYSE: DIS) Interactive Media Group, according to an internal email from Steve Wadsworth that just went out and has been obtained by paidContent. DIMG combines the Walt Disney Internet Group, which Wadsworth headed, and video gaming unit Disney Interactive Studios. This memo lays out the new organization with two global lines of business—Disney Interactive Studios (DIS) and Disney Online—as the roles for the various execs. Graham Hopper, the current EVP and GM of DIS, will continue to run Disney Interactive Studios while Paul Yanover, current EVP and GM of Disney Online in the US, will run Disney Online (DOL) globally. Club Penguin co-founderLane Merrifield will run virtual worlds development and operations as part of DOL. Larry Shapirowill be responsible for DIMG global strategy, business development, corp communications and legal. Also, Mark Handler is retiring as head of WDIG International and has agreed to work with the company for the next six months...

Guardian News Media to buy ContentNext, paidcontent.org, for $30m

According to a few sources including Kara Swisher's All Things Digital, the Guardian Media Group is to acquire ContentNext, publisher of the media news site paidContent, for over $30 million.

PaidContent is owned by ContentNext, which was founded by Publisher and Editor Rafat Ali in 2002...

Earnings: GE's NBCU Q2 Revs Up 7 Percent; Income Up 1 Percent

Another underwhelming quarter for NBCU, unit of GE… network revenue was up 7 percent in Q2, to $3.88 billion from $3.62 billion, while income grew just 1 percent to $909 million $904 million. The company claimed that its cable business offset ongoing weakness at its local operations. It also touted the benefits of the upcoming Olympics, predicting more than $1 billion in advertising. As for the whole company, at least they didn't miss this time (maybe Jack Welch's tongue lashing did the trick on Jeff Immelt). Total revenue was up 11 percent to $46.9 billion, though excluding charges, net income was flat at $5.4 billion or $.54 per share. Meanwhile, the company continues to spin and sell off units, including its consumer, appliance, and consumer finance units… but so far, there's nothing official on the company shopping around NBCU, despite the constant speculation...

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