Morning Media Newsfeed: Politico Europe Announced | Hack Costs Sony $15 Million

Politico announces Politico Europe. Sony Pictures reports hack-delayed financial results. These stories and more in today's Morning Media Newsfeed

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Politico to Launch European Site (FishbowlNY)
Politico is preparing to expand to Europe with the launch of Politico Europe. The site will use the similar tactic taken by Politico and Capital New York — a free site with subscription-only verticals that focus on one subject, like tech. FishbowlDC At 12:01 a.m. Brussels time on April 21, www.politico.eu will go live; and two days later, Politico will debut its weekly print edition in Brussels, Paris, Berlin, London and several other European capitals. HuffPost For the European launch, editors have tapped senior E.U. correspondent Ryan Heath to write a morning column on “what’s driving the daily political conversation on this side of the Atlantic,” a product similar to Mike Allen’s Playbook. Politico / Dylan Byers on Media Former Reuters journalists Pierre Briançon and Nicholas Vinocur will lead coverage of France. Jacopo Barigazzi will lead coverage of Italy. Former Wall Street Journal Europe editor Craig Winneker will serve as news editor. The Economist’s Jan Cienski will serve as energy editor. Former New York-based journalists Tara Palmeri, of the New York Post, and Zeke Turner, of Women’s Wear Daily and the New York Observer, will work from Brussels. Former New Republic managing editor Linda Kinstler and former Newsweek global editor Tunku Varadarajan will both serve as contributing editors. The Guardian Politico claims it will have more journalists combined in Washington and Brussels than any other outlet. Total staff at the venture will reach about 70.

Sony Pictures Posts Hack-Delayed Quarterly Profit of $51 Million (THR)
Sony Pictures generated a profit of $51 million (6.2 billion yen) in the quarter ended Dec. 31 (the period affected by the hacking attack), more than the $20 million it had predicted in February, Sony Corp. announced in Tokyo on Tuesday. IBT The hacks that brought the operations of Sony Pictures to a screeching halt in December have proven costly for the motion picture studio, to the tune of $15 million (1.8 billion yen). Sony Pictures profits fell from $148.3 million (18 billion yen), a 74 percent drop compared with the same quarter in the previous year. Funds set aside to investigate and fix the damage related to the hacks accounted for 10 percent of the decrease. BuzzFeed Sony said that there were fewer major DVD and streaming releases in the quarter compared to the year before, while the company’s films did not perform as well. Television income was hit compared to last year thanks to Sony getting major income from demand for Breaking Bad at the end of 2013. Variety Sony also released an unusually detailed breakdown for SPE’s third quarter, including U.S. dollar aggregated results that differ from Picture segment results in the earnings announcement, with operating profit declining 79 percent year-on-year to $53 million and total sales dropping 20 percent to $1.79 billion. The biggest release in the third quarter was Fury, which earned a worldwide total of $194 million, and compared with the $209 million from Captain Phillips in the same quarter of 2013.

Evening News Ratings for Week of March 9 Show Tight Race (TVNewser)
The evening news race just got a lot tighter. NBC Nightly News with Lester Holt held an 11,000 total viewer lead over World News Tonight With David Muir. That’s the closest ABC has gotten to NBC in more than 5 years — since the week of Sept. 7, 2009 which was the week after Charlie Gibson announced his retirement from World News. Variety Muir triumphed over Holt for the second time in five weeks, winning more of the evening-news viewers advertisers care most about. The NBC evening newscast won an average of 1.96 million viewers between the ages of 25 and 54, the demographic that sponsors of news programming pay most to reach, a tumble of 18 percent from the week-earlier period and 11 percent from the same week last year. ABC’s World News in turn lured an average of 2.033 million, down 11 percent week over week and up just 0.3 percent year over year. The Daily Beast According to the Teutonic Time-Shifting Theory, all three 6:30 p.m. network newscasts lose significant viewership when it stays light outside later. But NBC is supposedly disadvantaged disproportionately because its audience is more prosperous and suburban, given to lovely sunset bike rides and mint juleps on the veranda — while ABC’s audience is weighted toward a less affluent, more “urban,” indoorsy demographic.