Investorideas.com newswire, breaking stock news, business news and commentary for music sector

Wednesday, October 26, 2005

October Music Industry Update

RealNetworks Inc. (RNWK) shares rose 44 percent in October after reaching a $761 million settlement with Microsoft Corp. (MSFT). The settlement closed RNWK’s antitrust case against MSFT and created a new partnership to distribute Real's music and digital-game services through the MSN network.

Clear Channel (NYSE:CCU) recently reported that their third quarter profits were down by 21% to $205.5 million. Lower third quarter profits were stated to be the result of shorter radio ads – the company is focusing on 15 to 30 second ads - and CCU’s restructuring costs.

Canadian company, Corus Entertainment Inc (Toronto: CJR-NVB.TO) announced that their fourth quarter profits were down to $9.7 million (22 cents per diluted share) from $14 million (33 cents per share) at the same point last year due to new copyright costs and the integration of several of its radio stations. On the TSX, shares in Corus fell 50 cents, or 1.51 per cent, to $32.69 in late afternoon trading.

Activision, Inc. (NASDAQ: ATVI), worldwide developer, publisher and distributor of interactive entertainment and leisure products, announced on October 26 a four-for-three stock split. Activision posted net revenues of $1.4 billion for the fiscal year ended March 31, 2005.

1 comment:

Paul Adams said...

Your blog I found to be very interesting!
I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
I have a yahoo music shopping
site.
Come and check it out if you get time :-)
Best regards!

Investorideas.com music and entertainment news