Fox 4 news director
Broadcasting veteran Tracy Brogden Miller has been named vice president of news at Fox 4, WDAF-TV.
Miller, who will oversee news content on the air and online, succeeds Bryan McGruder.
She previously was news and marketing strategist at SmithGeiger, a market research and consulting firm. Before that, Miller was news director at Kansas City’s KCTV.
Thomson Reuters cuts
News and financial information company Thomson Reuters said it is cutting 2,500 jobs this year, about 4 percent of its workforce, as it tries to reduce costs and turn around its largest division.
CEO Jim Smith told analysts on a conference call Wednesday that the company is eliminating the positions from its “financial and risk” division, which rents out trading terminals to the financial industry. It accounts for just over half of Thomson Reuters’ revenue.
Thomson Reuters has about 60,000 employees.
On Wednesday, the company said it posted a profit of $372 million for the fourth quarter after a large loss in the same period a year earlier, capping what Smith called “a watershed year” in the company’s turnaround.
The New York-based company earned $372 million, or 45 cents per share, in the October-December period. That’s up from a loss of $2.6 billion, or $3.11 per share, in the same period a year earlier, when it took a $3 billion charge related to the declining value of its financial services business, which accounts for more than half of its revenue.
Revenue fell 5 percent to $3.4 billion.
Trouble in toyland
Toys R Us chief executive officer Gerald Storch will step down after a drop in holiday sales at the world’s largest toy store chain.
Storch, 56, joined the company in 2006 after Bain Capital Partners LLC, KKR & Co. and Vornado Realty Trust purchased Toys R Us for $6.6 billion. He will remain chairman and stay on as CEO during a search for his replacement, the company said.
• Hyatt Hotels’ net income declined 69 percent in the fourth quarter, hurt by impairment charges and a smaller income tax benefit. Its adjusted results topped Wall Street’s view. For the three months ending Dec. 31, the Chicago-based lodging company earned $16 million, or 9 cents per share. That’s down from $52 million, or 31 cents per share, a year ago. Revenue climbed to $1 billion from $990 million.
• Cisco Systems said it earned $3.1 billion, or 59 cents per share, during a three-month span ending Jan. 26. That represented a 44 percent increase from the previous year. Revenue edged up 5 percent to $12.1 billion.
• Duke Energy Corp. reported that profit rose 51 percent in the fourth quarter, the second period after its $17.8 billion takeover of Progress Energy Inc. made it the largest U.S. utility owner. Net income was $435 million, or 62 cents a share.
| Staff and news reports