Oregon Tax News

By Oregon Tax News

There are huge trends and shifts in the media and it impacts how people consume their news.

1. Big U.S. media companies bought back record amounts of their own shares in the last year. Cable television networks drew strong viewership and advertising dollars, generating cash despite economic uncertainty. News Corp, Time Warner Inc., Walt Disney and Viacom Inc. are among those posting better-than-expected profits. Media bosses also welcome the ‘new money’ from Netflix, Amazon.com Inc. and others who want to launch online video services with their extensive library of TV shows and movies. News Corp President Chase Carey said the company received $200 million in the first half of its current fiscal year from Netflix and Amazon. Viacom announced a new deal with Amazon. Analysts said with library content deals like these, a majority of the cash goes straight to the bottomline, since there are no new costs involved in creating the content. Read more…