Media Navel Gaze: April 1, 2013

Mark Kollar  Follow

The Week Unpeeled

The perp walk captured the front pages late last week (“Trading Probe Reaches Higher,” WSJ), as the Feds arrested Michael Steinberg, an SAC portfolio manager (at his Manhattan apartment building), who pleaded guilty on charges of securities fraud, posting $3-million bail.  This comes after the hedge fund settled insider-  trading charges with the SEC last week, paying over $600 million.  However, that deal was reportedly on hold with a judge saying he needed more time to consider whether to accept the settlement on grounds why settle for such a large sum when litigation would be much cheaper. (And btdubs, SAC chief Stevie Cohen just bought a Picasso for $155 million from casino operator Steve Wynn.)

Elsewhere:

  • North Korea played serious bully, with 30-year-old leader Kim Jong Eun, ordering rockets on standby for US targets, including Austin, Texas;
  • Cyprus banks reopened;
  • The Dow ended the first quarter on a record high close, an oft-repeated feat of late, at 14,578, but the S&P, the much broader  measure of the stock market, hit its first record since 2007 to end the quarter at 1569;
  • Other record runs:  General Hospital is celebrating 50 years on air (Tweet that for some old/new school media);
  • CNN named its co-host for morning show, Kate Bolduan, a 29-year-old who will share the screen with Chris Cuomo on the new “Starting Point” (you could Tweet that for more old/new motif); The “Today” show plans on hosts remain less clear (Cooper?);
  • Newscorp is starting a new cable channel called FXX, aimed at the 18- to 34-year segment;
  • NPR ended its “Talk of the Nation” show after 21 years on the air;
  • Kid stuff: 17-year-old Nick D’Aloisio sold his mobile app Summly to Yahoo! for $30 million;
  • Baseball season begins! End of Story

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