By Swati Arya, New Delhi: CNN International reaches more viewers globally than any other international news channel, with findings from both the latest Pan-Asia Pacific Cross-Media survey (PAX) and Europe’s Media and Marketing Survey (EMS) reinforcing the network’s undisputed leadership position. The PAX survey reveals that no international English news channel reaches more Indian viewers on a monthly basis than CNN International. In India, CNN International is more of a daily habit than BBC World News among Business Decision Makers and Top Management. The latest PAX findings for the period Q1 to Q4 2011 show that CNN International continues to be the clear leader in the Asia Pacific region among international news and business channels across all metrics: •CNN International reaches at least 50% more viewers on a daily, weekly and monthly basis than the next placed channel (BBC World News) •CNN International reaches almost (96%) as many viewers in a single week as BBC World does in a month •CNN International alone reaches twice as many viewers as the dedicated business news channels (CNBC & Bloomberg TV) combined. Tony Maddox, Executive Vice President of CNN International, said: “What we are seeing is that there continues to be a strong appetite for global news, and that people throughout the world are turning to CNN for that news – and in great numbers. People want a depth of analysis and a genuine breadth of coverage, and we provided that throughout 2011 wherever the big stories were breaking, and continue to do so in 2012. Add in our commitment to global business news and our excellent sports and cultural programming and there is a clear, compelling proposition for viewers.” The latest PAX findings also highlight CNN International’s unique ability to reach business leaders and travelers in the Asia Pacific region. •More business travelers watch CNN International in a single week than BBC World News in a month •Leisure travelers also have a stronger connection with CNN International, with 49% more leisure travelers watching CNN International each week than the next placed news/business channel •CNN International enjoys a clear audience advantage among key business targets, such as Business Decision Makers and Top Management (57% and 42% reach advantage respectively) over the next placed news/business channel. William Hsu, Vice President, News Advertising Sales for CNN in Asia Pacific, added: “Once again, CNN’s ability to reach this highly-desirable, upscale target audience is unmatched. There is simply no better platform for advertisers across the Asia Pacific region, and the caliber of our clients is testament to our ongoing best-in-class performance here and around the world.” In addition to CNN International’s leading on-air positioning, the PAX survey shows that CNN International’s leadership also extends to its digital platforms. •Each month CNN.com/CNNMoney.com reaches 51% more users online than BBC.com, and more than twice as many (+113%) Top Management. •95% more business decision Makers visit CNN.com/CNNMoney.com than the next largest international media site •CNN International’s multi-platform reach in Asia Pacific is unrivalled among news/business brands, with the network’s weekly combined TV and digital audiences 54% greater than that of the next largest news/business provider. Source: Media News Line
CNN International leading news provider in Europe, India
By Swati Arya, New Delhi: CNN International reaches more viewers globally than any other international news channel, with findings from both the latest Pan-Asia Pacific Cross-Media survey (PAX) and Europe’s Media and Marketing Survey (EMS) reinforcing the network’s undisputed leadership position. The PAX survey reveals that no international English news channel reaches more Indian viewers on a monthly basis than CNN International. In India, CNN International is more of a daily habit than BBC World News among Business Decision Makers and Top Management. The latest PAX findings for the period Q1 to Q4 2011 show that CNN International continues to be the clear leader in the Asia Pacific region among international news and business channels across all metrics: •CNN International reaches at least 50% more viewers on a daily, weekly and monthly basis than the next placed channel (BBC World News) •CNN International reaches almost (96%) as many viewers in a single week as BBC World does in a month •CNN International alone reaches twice as many viewers as the dedicated business news channels (CNBC & Bloomberg TV) combined. Tony Maddox, Executive Vice President of CNN International, said: “What we are seeing is that there continues to be a strong appetite for global news, and that people throughout the world are turning to CNN for that news – and in great numbers. People want a depth of analysis and a genuine breadth of coverage, and we provided that throughout 2011 wherever the big stories were breaking, and continue to do so in 2012. Add in our commitment to global business news and our excellent sports and cultural programming and there is a clear, compelling proposition for viewers.” The latest PAX findings also highlight CNN International’s unique ability to reach business leaders and travelers in the Asia Pacific region. •More business travelers watch CNN International in a single week than BBC World News in a month •Leisure travelers also have a stronger connection with CNN International, with 49% more leisure travelers watching CNN International each week than the next placed news/business channel •CNN International enjoys a clear audience advantage among key business targets, such as Business Decision Makers and Top Management (57% and 42% reach advantage respectively) over the next placed news/business channel. William Hsu, Vice President, News Advertising Sales for CNN in Asia Pacific, added: “Once again, CNN’s ability to reach this highly-desirable, upscale target audience is unmatched. There is simply no better platform for advertisers across the Asia Pacific region, and the caliber of our clients is testament to our ongoing best-in-class performance here and around the world.” In addition to CNN International’s leading on-air positioning, the PAX survey shows that CNN International’s leadership also extends to its digital platforms. •Each month CNN.com/CNNMoney.com reaches 51% more users online than BBC.com, and more than twice as many (+113%) Top Management. •95% more business decision Makers visit CNN.com/CNNMoney.com than the next largest international media site •CNN International’s multi-platform reach in Asia Pacific is unrivalled among news/business brands, with the network’s weekly combined TV and digital audiences 54% greater than that of the next largest news/business provider. Source: Media News Line
Warren Buffett adds Tulsa World to his newspaper portfolio
Warren Buffett yesterday acquired another small newspaper in Tulsa, Oklahoma, to his growing portfolio of small town community-focused newspapers. A subsidiary of Buffett's investment arm Berkshire Hathaway, BH Media Group, yesterday acquired the Tulsa World, which has a daily circulation of 95,000, from the Lorton family for an undisclosed sum. Founded in 1905, Tulsa World is owned and operated for four generations by the Lorton family of Tulsa. With a daily circulation of 95,000 and a Sunday circulation of 133,000, Tulsa World is th elargest and best-read local newspaper in Tulsa County and the surrounding areas and is the second-most widely circulated newspaper in Oklahoma, after The Oklahoman. Robert Lorton Jr, the chairman of the World Publishing Company, which owns the Tulsa World, said selling to Berkshire would provide a secure future for the Tulsa newspaper. "Our family takes great pride in the Tulsa World and its many years of service to Tulsa and Oklahoma. The newspaper business has become a difficult business model within a changing society and in particular for local family owned newspapers." Tulsa World will now be merged with BH Media Group, which already owns 28 daily newspapers and 42 weekly newspapers in Nebraska, Iowa, Texas, Oklahoma, Virginia, North Carolina, South Carolina, Alabama and Florida. It will be the third-largest newspaper in the BH Media Group portfolio, behind the Omaha World-Herald in Nebraska and the Richmond Times-Dispatch in Virginia. Two years ago, Buffett, a former newspaper delivery boy, told Berkshire Hathaway shareholders that most US newspapers could face unending losses and that he would not think of buying most of them. Although most analysts do not see long-term value of the print media, Buffett has now reversed his opinion and has defended newspapers, saying that they will have a decent future if they continue delivering information that cannot be found elsewhere. "In towns and cities where there is a strong sense of community, there is no more important institution than the local paper," Buffett had said. Terry Kroeger, the CEO of BH Media Group, said, "The Tulsa World is a special newspaper in an outstanding market, and we are honoured to have the opportunity to own it. This is a great fit for our company, and we look forward for this region." Kroeger added that the newspaper's circulation, profitability and its strong connections to the local community made the World an attractive purchase and community-oriented newspapers are key to the BH Media Group strategy. Warren Buffett had acquired 63 Media General newspapers last year for $142 million and the Omaha World-Herald Co for a reported $150 million and folded them into a new Berkshire Hathaway division called BH Media Group that is managed by World Media Enterprises. Buffett is also the largest shareholder in Washington Post with a 23-per cent stake, and holds a small stake in the reorganised newspaper chain Lee Enterprises. Source: Domain-B
New World Bank chief hails COP momentum as climate pledges mount
Ajay Banga. MUST CREDIT: Bloomberg photo by Lionel NgSix months after becoming president of the World Bank, Ajay Banga is seizing all the momentum he can at COP28.
World leaders spent the first three days at the climate conference unveiling a string of announcements from cutting methane emissions to ramping up the flow of money to poorer countries. The World Bank has been involved in many of those deals.
“There is a lot of energy,” said Banga in an interview in Dubai on Sunday. “There seems to be political alignment. I’m going to take all the tailwind I can get.”
The World Bank has for years struggled to mobilize the vast sums of money needed to help the developing world adapt to climate change and transition to renewables. Critics have said it has been too slow to get cash out the door and too focused on country-specific lending rather than addressing broader challenges like climate change.
Banga, who was nominated by US President Joe Biden, was put in charge to change that. The former chief executive of Mastercard Inc. last week raised the bank’s target for climate lending to 45 percent of its financing by 2025, up from its previous goal of 35 percent. He wants half of it to help countries adapt to the ravages of rising temperatures and the other half to help them fund their transition to renewable energy.
Asked about his first COP, Banga said “I’m most proud of the 45% as it’s putting $40 billion to work every year.”
A key part of Banga’s mission is to work with the private sector to unlock billions of dollars. Speaking at the Bloomberg Business Forum on Sunday, he said he’s working with a club of 15 bankers to lower the risk of investing in climate projects and attract capital. The World Bank has also stepped up action on other fronts, including allowing some vulnerable countries to potentially pause debt repayments, hosting a loss and damage fund for climate damages and supporting the COP Presidency’s methane push by helping countries like Vietnam and Indonesia address emissions in agriculture and waste management.
However, the problem that most intrigues Banga is carbon markets. He’s keen to restore credibility in the much-criticized sector as a way to channel money to poorer countries, especially given how hard it will be to implement carbon taxes around the world. The World Bank wants to sponsor forestry projects in 15 countries over the next 18 months in a push that could generate 125 million carbon credits. If priced at $20 per credit, that would amount to $2.5 billion for the participating communities.
The goal, he said, is to create a virtuous circle that will bring more people into the market.
“You need prices to go up and more credits to kick in,” Banga said. “It will be hard. It will be challenging but if we don’t do it, who will try?”
Challenges remain. Restoring faith in carbon markets will be fiendishly difficult and it’s almost inevitable mistakes will be made, he said. The bank is notoriously bureaucratic and Banga accepts that it will be difficult to speed up the flow of lending out of the bank. And there are still many questions hanging over one of the most eye-catching announcements at COP – how the newly established loss and damage Fund will actually work.
The darkest shadow hanging over this COP is the prospect of Donald Trump returning to the White House in 2025. The war in Ukraine has already prompted a dash for fossil fuels as countries fret about energy security and the cost of living crisis has prompted many countries to roll back their net-zero commitments. With polls showing that the former president running neck and neck with Biden, the concern is that all the progress made at this year’s COP will eventually be upended.
Banga said he’s focused on the here and now.“I never worry about something like that, said Banja. “I control what I can control. What’s the point?” New World Bank chief hails COP momentum as climate pledges mount
