Media Navel Gaze: April 23, 2012
The Week Unpeeled
Talk of a merger between US Airways and American Airlines capped a busy week and raised expectations that the M&A machine may be gearing up for some spring deals. The airline merger still contains considerable obstacles so stayed tuned.
- Warren Buffett announced that he has prostate cancer. Although prognosis seems good, succession talk dominated the week;
- The Dow ended its recent short-term losing streak, advancing 1.4 percent on the week to close at 13,029 (up 6.6 percent for the year, btw);
- Dick Clark of American Bandstand fame died at 82 years old, whose obits revealed a real media mogul who not only got teenagers dancing on television but owned a wide variety of content proving to be quite TV and music entrepreneur;
- Tupac lives! Even though he “allegedly” died 15 years ago, a virtual image of Mr Shakur was the hit of Coachella and the digital creators may take the gig on the road, alongside and in the flesh starts like Dr Dre and Snoop Dogg;
- The World Bank named Jim Yong Kim from Dartmouth as its president, keeping the succession within the US;
- Cambodia launched its first stock exchange on Wednesday at 909 am (luck numbers), with its first IPO a local water company;
- Mobile phone manufacturer Nokia posted a €1.34 billion loss for the first quarter;
- More claims have been made against News Group Newspapers in the phone-hacking scandal, including by footballer Wayne Rooney, Cherie Blair and politician Nigel Farage;
- Kate Middleton, her sister, Pippa, and the designer of her royal wedding dress, Sarah Burton, have all made it to Time’s list of the 100 most influential people around the globe; and
- Despite heavy rainfall in the UK this week, the country is still official in a drought???