Media Navel Gaze: February 25, 2013

Mark Kollar  Follow

The Week Unpeeled

Sequester talk trumped the Harlem Shake and remained top topic all week, with no quick budget resolutions in sight, which only means US spending cuts will start in the coming weeks.  Even so, the Dow finished up only slightly (0.1 percent) this week after a strong rally Friday to end at 14,000, with a few strong earnings reports and a hint of optimism over the increased number of deals announced or in the works. (Add to the roster Office Depot and OfficeMax intent to merge.)

Elsewhere:

  • On the TV front, CNBC said it was buying the “Nightly Business Report” from Atalaya Capital Management.  The PBS show is seen in 96 percent of the homes in the US.  Format is expected to remain the same and Tyler Mathisen of CNBC will be the anchor;
  • Martin Zweig, the investor, newsletter author, and TV pundit who predicted the 1987 stock-market crash died;
  • Somewhat interesting:  Ads during the Oscars are rivaling SuperBowl ads, according to Stuart Elliott, in his weekly New York Times column, with 30-second slots costing as much as $1.8 million;
  • Even more interesting:  Time magazine published one of its longest if not its longest articles ever last week, “Why Medical Bills Are Killing Us” by Steven Brill, in a fastening piece on waste in the industry and a testament to need for long-form journalism (36 pages and very readable!);
  • Moody’s downgraded UK’s credit rating to Aa1 from triple-A
  • Spring training officially began over the weekend; and
  • The other Oscar (Pistorius) is out on bail in a case that really only gets weirder. End of Story

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