For Thursday, November 7, 2013, here are a few media stories of note:
It is Twitter's big day. Its Initial Public Offering hit the stock market today, with an opening price of $26 per share. USA Today reports most analysts expect eda typical first-day bump-up in the price, which has been about 35% for tech firms. But the bump was much larger: 73 per cent, with a closing price on its first trading day of $44.90 (lower, though, than its $45.10 first-trade price). The IPO raises $2 billion and places the value of the company at about $18.3 billion. Quartz reports on a looming issue for the stock as the non-IPO shares (about 87% of the total) hit the market, with the challenge for the company to show valuation gains that outweigh the dilutive effects of more trading shares.
AOL CEO Tim Armstrong is profiled in an extensive feature in Business Insider. It is an exceptional look at the struggles Armstrong has largely overcome to deliver AOL through difficulties and shareholder skepticism and it pays a particular focus on Patch, the ambitious and financially challenged local news site network. It also explains how and why Armstrong fired a creative director in front of people in the middle of an employee speech earlier this year.
The murders of two French journalists in Mali has raised doubts about France's decision to withdraw some of its 2,000 troops from the African country in the coming months and raised questions about Mali's commitment to openness. Insurgents killed two journalists working for Radio France Internationale; they were kidnapped while interviewing a separatist leader and later found dead. An organization associated with Al Qaeda has claimed responsibility, although officials are still verifying that. Arrests have so far been of those only peripherally connected to the crimes.
It is Twitter's big day. Its Initial Public Offering hit the stock market today, with an opening price of $26 per share. USA Today reports most analysts expect eda typical first-day bump-up in the price, which has been about 35% for tech firms. But the bump was much larger: 73 per cent, with a closing price on its first trading day of $44.90 (lower, though, than its $45.10 first-trade price). The IPO raises $2 billion and places the value of the company at about $18.3 billion. Quartz reports on a looming issue for the stock as the non-IPO shares (about 87% of the total) hit the market, with the challenge for the company to show valuation gains that outweigh the dilutive effects of more trading shares.
AOL CEO Tim Armstrong is profiled in an extensive feature in Business Insider. It is an exceptional look at the struggles Armstrong has largely overcome to deliver AOL through difficulties and shareholder skepticism and it pays a particular focus on Patch, the ambitious and financially challenged local news site network. It also explains how and why Armstrong fired a creative director in front of people in the middle of an employee speech earlier this year.
The murders of two French journalists in Mali has raised doubts about France's decision to withdraw some of its 2,000 troops from the African country in the coming months and raised questions about Mali's commitment to openness. Insurgents killed two journalists working for Radio France Internationale; they were kidnapped while interviewing a separatist leader and later found dead. An organization associated with Al Qaeda has claimed responsibility, although officials are still verifying that. Arrests have so far been of those only peripherally connected to the crimes.
