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NY Times - Yahoo Parts Ways w/ Executive
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International New York Times
January 17, 2014 Friday
Yahoo chief fires No. 2 executive as it loses ground in ad sales
BYLINE: VINDU GOEL
SECTION: FINANCE; Pg. 15
LENGTH: 497 words
DATELINE: SAN FRANCISCO
ABSTRACT
The departure was announced in a terse statement that did not include any of the traditional boilerplate that typically sugarcoats such announcements.
FULL TEXT
The No. 2 executive at Yahoo, Henrique de Castro, has been fired by his boss, Marissa Mayer, a little more than a year after she wooed him away from Google to help her turn around the struggling Internet company.
Yahoo, which has lost ground in recent years to competitors like Google and Facebook, announced Mr. de Castro's departure in a terse, two-sentence document filed with the Securities and Exchange Commission after the stock market closed Wednesday.
There was none of the usual corporate boilerplate that typically sugarcoats such departures - no praise for his service from Yahoo's chief executive, Ms. Mayer, no mention of a sudden interest that Mr. de Castro had taken in spending more time with his family.
A Yahoo spokeswoman said the company had no further comment on the matter.
But Ms. Mayer, who left Google to become Yahoo's chief executive in mid-2012, was clearly displeased with Mr. de Castro's performance.
In a memo announcing the leadership reorganization to Yahoo's staff, she wrote, ''I made the difficult decision that our COO, Henrique de Castro, should leave the company. I appreciate Henrique's contributions and wish him the best in his future endeavors.''
''Over all, I'm confident that the leadership team, our direction, and these changes will enable even more successful execution,'' she wrote near the end of the memo, which was first published by the technology news site ReCode.
Over the past year, Yahoo lost its position as the No. 2 seller of digital ads in the United States to Facebook, according to the research firm eMarketer. Yahoo had just 5.8 percent of the market, compared with 7.4 percent for Facebook and 39.9 percent for Google. The company posted similar declines overseas.
Clark Fredricksen, a vice president at eMarketer, said that Yahoo has so far failed to transition its advertising from the desktop to mobile, which has contributed to the declines.
But he said the company had been laying the groundwork for a possible turnaround.
''They are streamlining the experience for advertisers, which is positive,'' Mr. Fredricksen said. ''They are improving the quality of the ad experience for users. They are making investments that will help grow their user base and ad revenues.''
Mr. de Castro will not be around to see if those efforts bear fruit.
But he will be walking away with a substantial severance package. The final amount has not yet been determined and will hinge in part on how well he did in reaching performance targets set for 2013.
In his October 2012 offer letter, he was promised stock-related compensation with a target value of $56 million, vesting over four years, as well as unspecified severance benefits. Although he will not be entitled to receive all of that money since he left before the end of four years, he will receive a large portion of it.
SUBJECT: EXECUTIVES (90%); MARKETING & ADVERTISING REVENUE (89%); INTERNET SOCIAL NETWORKING (89%); SEVERANCE PAY (89%); EMPLOYMENT (88%); MARKETING & ADVERTISING (86%); EXECUTIVE MOVES (78%); US FEDERAL GOVERNMENT (76%); STOCK EXCHANGES (76%); INTERNET & WWW (72%)
COMPANY: YAHOO! INC (94%); GOOGLE INC (92%); FACEBOOK INC (58%)
TICKER: YHOO (NASDAQ) (94%); GOOG (NASDAQ) (92%); FB (NASDAQ) (58%)
INDUSTRY: NAICS519130 INTERNET PUBLISHING & BROADCASTING & WEB SEARCH PORTALS (94%); NAICS517110 WIRED TELECOMMUNICATIONS CARRIERS (94%); SIC7375 INFORMATION RETRIEVAL SERVICES (94%); SIC7373 COMPUTER INTEGRATED SYSTEMS DESIGN (94%)
PERSON: MARISSA MAYER (91%)
GEOGRAPHIC: SAN FRANCISCO, CA, USA (79%) CALIFORNIA, USA (79%) UNITED STATES (79%)
LOAD-DATE: January 16, 2014
LANGUAGE: ENGLISH
PUBLICATION-TYPE: Newspaper
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NY Times - Oscar 2014 Nominations
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The Associated Press
January 18, 2014 Saturday 4:25 AM GMT
Correction: Oscar Nominations-Box Office story
BYLINE: The Associated Press
SECTION: ENTERTAINMENT NEWS
LENGTH: 248 words
In a story Jan. 16 about the North American box-office performance for Oscar best-picture nominees, The Associated Press erroneously listed News Corp. as the owner of Fox Searchlight. Fox Searchlight is now owned by 21st Century Fox.
A corrected version of the story is below:
Box-office numbers for Oscar best-picture nominees
Box-office numbers for Oscar best-picture nominees including 'Gravity,' 'American Hustle'
North American box-office performance as of Tuesday for Oscar best-picture nominees:
- "American Hustle," Sony, $103,565,129, 10 nominations, released Dec. 12, 2013.
- "Captain Phillips," Sony, $105,010,295, six nominations, released Oct. 10, 2013.
- "Dallas Buyers Club," Focus, $16,769,169, six nominations, released Nov. 1, 2013.
- "Gravity," Warner Bros., $256,314,185, 10 nominations, released Oct. 3, 2013.
- "Her," Warner Bros., $9,900,985, five nominations, released Dec. 18, 2013.
- "Nebraska," Paramount, $8,477,367, six nominations, released. Nov. 15, 2013.
- "Philomena," Weinstein Co., $22,324,543, four nominations, released Nov. 22, 2013.
- "12 Years a Slave," Fox Searchlight, $39,002,295, nine nominations, released Oct. 17, 2013.
- "The Wolf of Wall Street," Paramount, $80,741,968, five nominations, released Dec. 25, 2013.
___
Online:
http://www.rentrak.com
___
Focus is owned by NBC Universal, a unit of Comcast Corp.; Sony is a unit of Sony Corp.; Paramount is owned by Viacom Inc.; Fox Searchlight is owned by 21st Century Fox; Warner Bros. is a unit of Time Warner Inc.
SUBJECT: ENTERTAINMENT & ARTS (96%); ENTERTAINMENT & ARTS AWARDS (91%); MOVIE INDUSTRY (90%); MOVIE & VIDEO INDUSTRIES (90%); TICKET SALES (78%); FILM (78%); NETWORK TELEVISION (77%); CONSUMER ELECTRONICS MFG (75%); BROADCASTING INDUSTRY (74%); COMPUTER & ELECTRONICS MFG (74%); MANUFACTURING OUTPUT (74%); ELECTRONICS (73%); CABLE & OTHER DISTRIBUTION (69%); TELEVISION INDUSTRY (69%) US-Oscar-Nominations-Box-Office-CORRECTIVE; Award shows; Entertainment; Arts and entertainment; Movie awards; Movies; Academy Awards; Events
COMPANY: TWENTY-FIRST CENTURY FOX INC (93%); NBC UNIVERSAL INC (90%); SONY CORP (84%); TIME WARNER INC (83%); WEINSTEIN CO LLC (67%); COMCAST CORP (65%); VIACOM INC (64%) News Corporation; Comcast Corp; Sony Corporation; Viacom, Inc.; Time Warner Inc
TICKER: FOX (NASDAQ) (93%); FOX (ASX) (93%); SON (LSE) (84%); SNE (NYSE) (84%); 6758 (TSE) (84%); TWX (NYSE) (83%); CMCSA (NASDAQ) (65%); CCV (NYSE) (65%); VIA (NASDAQ) (64%) NWS (NASDAQ); NWSA (NASDAQ); NWSAL (OTCP); CMCSK (NASDAQ); CMCSA (NASDAQ); SNE (NYSE); 6758 (TYO); VIA (NASDAQ); VIAB (NASDAQ); TWX (NYSE)
INDUSTRY: NAICS515120 TELEVISION BROADCASTING (93%); NAICS511130 BOOK PUBLISHERS (93%); NAICS511110 NEWSPAPER PUBLISHERS (93%); SIC4833 TELEVISION BROADCASTING STATIONS (90%); NAICS512220 INTEGRATED RECORD PRODUCTION/DISTRIBUTION (84%); NAICS339930 DOLL, TOY & GAME MANUFACTURING (84%); NAICS334310 AUDIO & VIDEO EQUIPMENT MANUFACTURING (84%); SIC3651 HOUSEHOLD AUDIO & VIDEO EQUIPMENT (84%); NAICS517110 WIRED TELECOMMUNICATIONS CARRIERS (83%); NAICS512110 MOTION PICTURE & VIDEO PRODUCTION (83%); NAICS512120 MOTION PICTURE & VIDEO DISTRIBUTION (67%); NAICS515210 CABLE & OTHER SUBSCRIPTION PROGRAMMING (64%) Television industry; Media industry; Media and entertainment industry; Cable television services; Telecommunications services; Telecommunications; Consumer electronics manufacturing; Consumer product manufacturing; Consumer products and services; Entertainment industry; Media and entertainment industry; Entertainment industry; Media and entertainment industry
GEOGRAPHIC: NORTH AMERICA (93%); UNITED STATES (91%)
LOAD-DATE: January 18, 2014
LANGUAGE: ENGLISH
DOCUMENT-TYPE: Spot Development
PUBLICATION-TYPE: Newswire
Copyright 2014 Associated Press
All Rights Reserved
NY TIMES