NBC Universal plans to put resources into making Oxygen more widely known, including cross-promoting the network on iVillage and other NBC Universal properties, Zucker said during a conference call. “We’ve learned that the ability to cross-promote and to use each of those properties together will make us very strong,” he said. “We will look to create a virtual women’s network so that when we go to market we’re selling young women, and affluent women, in a way that virtually no one else can.” NBC Universal plans to fund the transaction through the sale of noncore assets, including two independent Telemundo TV stations – KWHY (Channel 22) in Los Angeles and WKAQ in Puerto Rico. Zucker said the company did not yet have a buyer for the stations. He stressed that the sale should not be seen as a move by NBC Universal to pull back from its investment in Spanish-language media or its Telemundo TV network. “We are as committed as we have been,” Zucker said, noting that the company has been adding Spanish-language TV stations during the past 15 months. Under media-ownership rules, NBC Universal was required to divest itself of the Los Angeles station, one of three NBC Universal-operated TV stations in the Los Angeles market. Laybourne declined to say how much the original Oxygen investors stood to profit from the deal announced Tuesday. The independent network has become available in a large number of homes but needs to increase exposure, she said. “What is apparent now is that we need cross-promotion and that really is the biggest issue for Oxygen,” Laybourne said. Laybourne agreed to stay on with Oxygen until the end of the year. She did not disclose what she plans to do afterward. The acquisition was expected to close in November, subject to customary regulatory approvals. NBC Universal is 80 percent owned by General Electric Co.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! BURBANK – NBC Universal said Tuesday that it will buy Oxygen Media, a cable TV network featuring programming for women, for about $925 million in a move to attract more advertisers targeting female viewers. The acquisition is in line with previous deals by NBC Universal to build female audiences. Last year, it bought the iVillage group of female- oriented Internet sites for $600 million. The acquisition of Oxygen “increases our foothold in the advertiser-coveted young, upscale, female demographic,” NBC Universal President and Chief Executive Jeff Zucker said in a statement. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREChargers go winless in AFC West with season-ending loss in Kansas CityOxygen was founded in 2000 by current Chairman and CEO Geraldine Laybourne, Oprah Winfrey and TV producers Marcy Carsey, Tom Werner and Caryn Mandabach. It broadcasts syndicated sitcoms such as “Mad About You” and “Roseanne,” as well as reality shows and movies geared to women. It’s now available in about 74 million homes and drew a record number of viewers in its most recent quarter, NBC Universal said. Oxygen will be folded into NBC Universal’s entertainment cable division, which includes USA Network, Bravo, SciFi, CNBC and MSNBC. Excluding financial assets, the deal is worth about $875 million, NBC Universal said. The company expects the acquisition to add to earnings after the first full year and produce savings of about $35 million next year. It estimates that the deal will cost roughly less than $12 per subscriber.
Rising Home Values Bring Equity to Highest Level Since 2008 Agents & Brokers Attorneys & Title Companies Barack Obama Home Equity Home Prices Home Values HUD Investors Lenders & Servicers Refinance Service Providers Treasury Department 2012-10-05 Tory Barringer October 5, 2012 399 Views Share in Data, Government, Origination, Secondary Market, Servicing Rising home values in September brought homeowner equity to its highest level since the third quarter of 2008, according to the Obama administration’s latest “”Housing Scorecard””:http://portal.hud.gov/hudportal/documents/huddoc?id=sept_nat2012_sc_final.pdf. [IMAGE]The scorecard was a little more positive than it has been in recent months, though officials continued to caution that the overall recovery is still fragile.According to the report, homeowner equity increased $406 billion, or 5.9 percent, to $7.3 trillion in the second quarter of 2012. After experiencing a turnaround into growth in the year’s first quarter, total equity has grown $863 billion, or 13.5 percent, since the end of 2011.Increases in both new and existing home sales added to the good news, as did continuing upward trends in home prices. Analysts in 2009 project a severe downturn in prices followed by several years of slow, steady into 2014, but Friday’s scorecard revealed much larger quicker-albeit not as steady-price gains.””As the September housing scorecard indicates, our housing market is showing important signs of recovery-with homeowner equity at a four-year high and summer sales of existing homes at the strongest pace in two years,”” said Erika Poethig, acting assistant secretary at HUD. “”The Administration’s efforts to keep housing affordable and refinances strong are critical with so many households still struggling to make ends meet.””Mortgage originations also showed some gains in the second quarter, with refinance originations showing a nearly 480,000 year-over-year increase to 1.35 million. Purchase originations lost some footing year-over-year, falling 44,000 to 497,800.Delinquency rates fell month-over-month and year-over-year across the board, with prime and subprime mortgages posting delinquencies of 3.8 percent and 29 percent, respectively. FHA mortgages also improved performance-wise, falling to 11.7 percent delinquency despite a month-to-month increase in seriously delinquent mortgages.
Hospital Chiefs Earn Big Bucks For ‘Glitzier’ Medicine A JAMA Internal Medicine study found that quality of patient care at a facility is less likely to be reflected in the CEO’s pay than other factors.Kaiser Health News: Pay For Hospital CEOs Linked More To Technology, Patient Satisfaction Than Quality, Study FindsWhat do hospital boards value in a chief executive? A new study of CEO pay at nonprofit hospitals finds that executives at institutions that have a lot of fancy medical technology and high patient satisfaction are paid more than their peers. But running a hospital that scores well on keeping more patients alive or providing extensive charity care does not translate into a compensation bump (Rau, 10/14).The Associated Press: Hospital CEO Pay, Patient Outcomes Not In SyncCEOs were paid more at hospitals that got high patient satisfaction scores; used more high-tech equipment including advanced imaging machines; had more beds and were located in large urban areas. But pay wasn’t reflected in 30-day outcomes for patients with heart attacks, heart failure, or pneumonia in 2008, including deaths and readmissions. Those are among publicly reported outcome measures used by the federal Centers for Medicare & Medicaid Services and others (Tanner, 10/15).Reuters: Hospital CEO Pay Not Tied To Quality Of Study”I was hoping I’d see even some modest relationship with quality performance,” said Dr. Ashish Jha. “I think we were a little disappointed.” Jha worked on the study at the Harvard School of Public Health in Boston. He and his colleagues combined data from tax returns, hospital surveys and performance and cost reports (Pittman, 10/14).Bloomberg: U.S. Nonprofit Hospital CEO Annual Pay Averages $600,000Heads of U.S. nonprofit hospitals earn an average of almost $600,000 a year, compensation that isn’t tied to quality measures such as mortality rates, a Harvard University study found. The chief executive officers paid the most oversee larger, urban hospitals that are usually teaching institutions and have a median salary of more than $1.66 million, according to research published today in JAMA Internal Medicine (Ostrow, 10/14).Medpage Today: Hospital CEO Pay Not Tied To QualityNot surprisingly, executive pay was higher for those heading up larger hospitals … at teaching hospitals … and in urban settings. Shepherding a hospital in a small rural town, for instance, was worth $195,553 less than being responsible for an urban facility (Pittman, 10/14).Modern Healthcare: Hospitals With Expensive Tech, High Patient Satisfaction Have Highest-Paid CEOsIn an accompanying commentary that appears in the same issue of JAMA Internal Medicine, Dr. Warren Browner, CEO of California Pacific Medical Center in San Francisco, wrote he wasn’t surprised by the study’s findings that “bigger, glitzier, more prestigious hospitals,” paid more compared to other facilities. However, Browner took issue with some of the study’s findings. He wrote that researchers leapt to conclusions about causality without considering the full range of variables (Selvam, 10/14).Earlier, related KHN story: Hospital CEO Bonuses Reward Volume And Growth (Hancock, 6/16) This is part of the KHN Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.