Media Titans Making Waves: AOL, Netflix, CBS
AOL, Inc. (NYSE:AOL): According to the Wall Street Journal, Patch.com, a system of small town news websites owned by AOL, is the focus of a war over the Internet company’s plans ahead. Maintaining the sites is expensive, and this has sparked an effort by rebel investor Starboard Value LP against AOL CEO Tim Armstrong’s plan to invest heavily in online content.
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Netflix, Inc. (NASDAQ:NFLX), CBS Corporation (NYSE:CBS), Walt Disney Co. (NYSE:DIS), Comcast Corporation (NASDAQ:CMCSA): The New York Times reports that the FCC is weighting whether to grant the same rights and regulations now adhered to by cable and satellite broadcasters to Internet video sites. If this is approved, the sites will be able to carry both some popular as well as not-so-popular channels. Additionally, the Times says that online broadcasting of shows would pick up.
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