Media Navel Gaze: September 16, 2013
The Week Unpeeled
Most of the business headlines were overshadowed by the Syria strategy flip flops until Twitter announced on, well, Twitter its plans to go public -- full stop. No details were forthcoming, using Jobs Act regulations that make disclosure unnecessary for companies under $1 billion in revenue and easy to tell all in 140 characters; Goldman won the IPO mandate and the news even made the full front page of The New York Post, showing media loves to cover media.
- Tina Brown announced she was leaving The Daily Beast and publishing all together (at least for now) and focusing on a conference company based on her Woman in the World summits;
- Bloomberg appointed executive editor Tim Quinson (an insider?) to be its standards editor, a new position put in place following the discovery that journalists were improperly accessing customer data;
- Apple launched two new iPhones, one cheaper and in color and one fancier with fingerprint sensors; investors did not bite;
- In an apparent first, Bloomberg Businessweek was behind a documentary on former Treasury Secretary Henry Paulson called Hank, which debuted last week in time for the five-year anniversary of the financial crisis and will be available on Netflix;
- Verizon offered a whopping $49 billion in bonds last week for its acquisition of its wireless business amid whopping demand;
- The Dow shape-shifted removing Hewlett-Packard, Bank of America and Alcoa and added Nike, Goldman Sachs and Visa; and
- The blue-chip average soared 3 percent last week to end Friday at 15,376, the biggest gain since the first week of the year.