In your enriching Thursday media column: someone in the media finally strikes it rich, everyone blames Jon Meacham, Les Moonves is wildly overpaid, and you better not buy what he's selling.
Jacki Cisneros, an overnight editor at KNBC-TV in Los Angeles, just won $266 million in the lottery. Who said you can't get rich in journalism?
Newsweek sale story, day two: The backlash against Jon Meacham. Everybody's saying he's a boring guy who puts out a boring magazine, and by the way, that big redesign was dumb and nobody like it, hey. Well, perhaps. Are they implying that under someone else's leadership Newsweek would be making money right now? Who is this magical person?
Heh, a new study by a CEO pay expert says that based on shareholder returns, CBS boss Les Moonves was overpaid by $28 million last year. But does that formula take into account how awesome Les Moonves looks in this painting?
Time Warner, CBS, and News Corp all reported decent results this week, and media stocks have been looking strong. But now some experts think that the media stock rally has peaked. But other experts probably think something different, so why not keep buying big media stocks anyhow? Les Moonves needs the help.