Posts Tagged ‘News Corporation

05
Aug
10

Rupert Murdoch says Apple’s iPad is a ‘game-changer’ for news media

NEWS
Rupert Murdoch says Apple’s iPad is a ‘game-changer’ for news media

Thursday, August 05, 2010

••• Global media chief Rupert Murdoch says Apple’s iPad will be a ‘game changer’ for newspapers.

The chairman and chief executive of News Corporation said the iPad would allow publishers to attract new readers to their mastheads.

‘It’s a real game changer in the presentation of news,’ Mr. Murdoch said on Thursday during a conference call for the company’s full year profit results.

‘We will have young people reading newspapers. We will have different looking types of newspapers.’

News Corp owns newspapers in the U.S., U.K., Australia and elsewhere.

Mr. Murdoch said he expected to see hundreds of millions of these devices around the world.

‘There will be all sorts of things we can do with them,’ Mr. Murdoch said.

‘As they develop technologically, we have got to to develop our methods of presentation of news.’

News Corp chief operating officer Chase Carey said the iPad ‘really starts to deliver on the promise of multimedia’ for the first time.

In terms of charging for online content, The Times and Sunday Times newspapers in the U.K. started slugging users $1.59 (£1) a day, or $3.18 (£2) a week, to access their content online from the start of July.

Mr. Murdoch said there had been a positive response, but declined to say how many people had paid for subscriptions.

‘We have had a very encouraging number of people subscribing at a good price,’ he said.

‘But we think we are on the right strategy there and we think it’s going well.’

Mr. Murdoch also flagged changes to News Corp’s social networking portal MySpace, which he said was going through a major overhaul under a new management team.

‘It will look very, very different in a few months to what it’s looked for the last few years,’ Mr Murdoch said.

‘We are going to see it out for some time yet.’
• Latest News & Headlines » Home «
• Source(s): News Corporation
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04
Aug
10

News Corp. Posts $875 Million Profit as Ad Sales Rise

NEWS
News Corp. Posts $875 Million Profit as Ad Sales Rise

Wednesday, August 04, 2010

••• Media and entertainment giant News Corp. reported, Wednesday, that it has swung to profit in the fiscal fourth quarter on the back of strong performance from its television networks division which posted impressive ad sales.

News Corp. said its net profit in June quarter was $875 million or $0.33 per share as against loss of $203 million or $0.08 per share in the year ago period.

The company said its revenue moved up 5.7 percent to $8.11 billion.

Analysts, on average, had expected News Corp. to report profit of $0.20 per share on revenue on $7.87 billion.

However, operating profit, or sales minus the cost of goods sold and administrative expenses, slipped 1.7 percent year-on-year in June quarter to $932 million from $948 million.

The media conglomerate said its earnings were driven by strong performance put up by its television networks division, which accounted for more than half of its operating income.

Profits at domestic channels surged by 30 percent while international channels improved 40 percent. Overall, operating profit at cable television networks division, which include channels such as Fox News Channel and FX, surged 31 percent to $563 million on the back of advertising revenue which jumped 11 percent. The division also saw double-digit growth in revenue from fees paid by cable, satellite and fiber video providers.

Operating profit at News Corp.’s broadcast television division also surged 13 percent to $113 million on improved ad sales offsetting higher programming expenses at the company’s national broadcast network – Fox Broadcasting.

The group’s filmed entertainment division also did well but could not beat third quarter performance. Operating income in June quarter dropped 32 percent year-on-year to $137 million. In March quarter, profit stood at $497 million. At the time of announcing third quarter earnings, News Corp. had warned that one should not expect stellar performance from this division in the fourth quarter, largely due to an expected year-over-year decline in the film business due to the timing of releases.

The newspapers and information services division, which include the Wall Street Journal, Barron’s, MarketWatch and Dow Jones, also reported 20 percent surge in profit to $115 million on higher ad revenue, though it was below Street estimates.

The company’s digital media division, which include social networking site MySpace, however, disappointed, reporting an operating loss of $174 million in the June quarter on lower search and advertising revenue. News Corp. said MySpace is set for a “major overhaul.”

News Corp.’s satellite TV division also disappointed, reporting a 37 percent slide in operating income to $97 million on the back of continued weakness at Sky Italia.

To reduce dependence on the economically sensitive advertisement-based revenue, News Corp. said it is beefing up its portfolio of subscription-based assets. In June, it said it has made a bid for the 61 percent stake of pay-TV operator British Sky Broadcasting Group Plc (BSkyB) it doesn’t already own.

“The opportunity for us to expand the scale of our franchises is significant, including through taking advantage of the continual technological advances that will broaden the reach of our core content and distribution businesses,” News Corp. CEO Rupert Murdoch said in a statement.

The company’s full-year results were more impressive.

News Corp. said its net profit in fiscal year 2010 was $2.5 billion, helped primarily by blockbuster movie “Avatar.” DVD sales of other films like “Ice Age: Dawn of the Dinosaurs,” “X-Men Origins: Wolverine” and “Night at the Museum: Battle of the Smithsonian” also bumped up its profits. In the prior year, News Corp. incurred a net loss of $3.4 billion, which included a one-time pre-tax impairment and other charges of $9.2 billion.

“These results underscore just how well positioned we are – fiscally, operationally and strategically – for further growth across all of our markets,” Murdoch said.

Shares of News Corp., which owns Dow Jones, Wall Street Journal, New York Post, MySpace and 20th Century Fox among other things, closed up 1.61 percent at $13.85. Following the financial results announcement, the company’s shares were up 3.25 percent in the after-market hours.
• Latest News & Headlines » Home «
• Source(s): News Corporation
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30
Jul
10

Ellen DeGeneres Out at ‘American Idol,’ Jennifer Lopez Could Replace Her

NEWS
‘Ellen DeGeneres Out at ‘American Idol,’ Jennifer Lopez Could Replace Her

Ellen DeGeneres’ Exit From ‘American Idol’ Divides Fans
‘She makes the show a lot better, and I don’t think she should leave,’ one fan says.

Friday, July 30, 2010

Entertainment

••• Ellen DeGeneres is leaving American Idol after just one season as a judge.

‘A couple months ago, I let Fox and the American Idol producers know that this didn’t feel like the right fit for me,’ DeGeneres said in a statement released to The Hollywood Reporter.

‘I told them I wouldn’t leave them in a bind and that I would hold off on doing anything until they were able to figure out where they wanted to take the panel next.
‘It was a difficult decision to make, but my work schedule became more than I bargained for. I also realised this season that while I love discovering, supporting and nurturing young talent, it was hard for me to judge people and sometimes hurt their feelings.

‘I loved the experience working on Idol and I am very grateful for the year I had. I am a huge fan of the show and will continue to be.’
The move means there are now two vacancies on the hit show’s judging panel for the 10th season, which returns in January.

Fox has yet to announce a replacement for Simon Cowell, who left at the end of last season to start a new talent show for the network.

With American Idol facing ratings erosion, DeGeneres’s exit gives Fox the chance to make a fresh start with a revamped judging panel.

According to The Hollywood Reporter, Fox has been looking to shake up the Idol format including possibly ditching its current judging panel altogether.

Meanwhile, Jennifer Lopez is poised to take DeGeneres’ place, according to multiple reports.
• » American Idol, Season 10 » Judges: Randy Jackson, Jennifer Lopez, Steven Tyler » Presenter: Ryan Seacrest
• Source(s): The Hollywood Reporter & Fox / News Corporation
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07
Jun
10

Three killed in Texas gas pipe explosion

NEWS
Three killed in Texas gas pipe explosion

Monday, June 7, 2010

Earth

••• At least 3 people are dead and several missing after an explosion caused a massive fire in rural north-central Texas.

Cleburne city manager Chester Nolen tells the Dallas-Fort Worth television station WFAA that Monday’s explosion left at least 10 people missing, and a city fire official said at least six were injured.

A witness says she heard a huge rumbling that she thought was thunder and then a tornado.

Television images showed a large fireball and a burned out vehicle and construction equipment.

Cleburne is about 50 miles southwest of Dallas.
• Latest News & Headlines » Home «
• Source(s): FOX News / News Corporation
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05
Jun
10

Sky buys Virgin Media TV channels for $231 million

NEWS
Sky buys Virgin Media TV channels for $231 million

Saturday, June 5, 2010

British Sky Broadcasting (BSkyB) has bought Virgin Media Television, the current owner of seven TV channels including Living and Bravo.

Sky, the owner of Sky News, is paying $231 million (£160 million) in cash under the deal, which also sees it acquire the channels Challenge, Challenge Jackpot and Virgin1, the latter of which will be rebranded.

The purchase expands Sky’s portfolio of basic pay TV channels and means it does not have to pay carriage fees to offer the Virgin Media Television (VMtv) channels to its customers.

Meanwhile, Virgin Media will be given the option of carrying any of Sky’s basic HD channels, Sky Sports HD 1 and Sky Sports HD 2, and all Sky Movies HD channels for an incremental wholesale fee.

It will also make Sky’s basic and premium channels available to subscribers through its on-demand TV service.

VMtv said its seven channels – which span pay and free-to-air television – reach more than 24 million adult viewers every month.
Living is the third most popular pay TV channel in the U.K., and is the self-styled home of ‘guilty pleasures and trashy glamour’.

It offers a variety of popular programmes including Four Weddings and America’s Next Top Model in its schedules.

Virgin Media said the sale of VMtv would allow it to focus on providing subscribers with ‘super-fast’ cable TV and broadband provision.

Meanwhile BSkyB chief executive Jeremy Darroch described the acquisition as ‘an attractive investment opportunity’ that offered strategic and financial benefits.

‘We are pleased that, through commercial negotiation, we have been able to ensure wide distribution of our channels to a growing pay TV universe,’ he said.

Virgin launched Virgin1 in October 2007 although channels such as Living and Bravo came from the former ntl/Telewest business.

This in turn merged with Virgin Mobile in 2007 and was then rebranded as Virgin Media.
• Latest News & Headlines » Home «
• Source(s): British Sky Broadcasting / News Corporation
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22
May
10

Facebook preparing to make changes to privacy settings in response to criticism

NEWS
Facebook preparing to make changes to privacy settings in response to criticism

Saturday, May 22, 2010

Facebook on Saturday said it plans to simplify privacy controls at the popular social-networking service to appease critics.

‘We’ve spent the last couple of weeks listening to users and consulting with experts in California; Washington, DC, and around the world,’ Facebook spokesman Andrew Noyes said in response to an AFP inquiry.

‘The messages we’ve received are pretty clear. Users appreciate having precise and comprehensive controls, but want them to be simpler and easier to use.’

Facebook contended that members like new programs rolled out at the California-based internet hotspot but want easy ways to opt out of sharing personal information with third-party applications or websites.

‘We’re listening to this input and incorporating it into innovations we hope to announce shortly,’ Noyes said.

Facebook has been under fire from U.S. privacy and consumer groups, U.S. lawmakers and the European Union over new features that critics claim compromise the privacy of its more than 400 million members.

The features introduced last month include the ability for partner websites to incorporate Facebook data, a move that would further expand the social network’s presence on the internet.
Four U.S. senators, in a letter to Facebook co-founder Mark Zuckerberg, said they were worried that personal information about Facebook users is being made available to third party websites.

The senators also expressed concerns that ‘Facebook now obligates users to make publicly available certain parts of their profile that were previously private’.

Sharing personal information should be an ‘opt-in’ procedure in which a user specifically gives permission for data to be shared, privacy advocates argue.

Coming Facebook refinements are not expected to include a shift to an opt-in model.

Facebook vice president of global communications Elliot Schrage has been adamant that online privacy is taken very seriously at the company.

‘These new products and features are designed to enhance personalisation and promote social activity across the internet while continuing to give users unprecedented control over what information they share, when they want to share it, and with whom,’ Schrage said.

MySpace on May 17 announced plans to simplify its privacy settings as it seeks to differentiate itself from social network rival Facebook, which has eclipsed the News Corp-owned social networking service.

‘The last few weeks have been fraught with discussion around user privacy on social networks,’ MySpace co-president Mike Jones said in a blog post without directly mentioning Facebook by name.

‘While MySpace at its core is about discovery, self expression and sharing, we understand people might want the option of limiting the sharing of their information to a select group of friends,’ Jones said.
Jones said MySpace, which was bought by News Corp. in 2005 for $580 million, is ‘planning the launch of a simplified privacy setting for our user profiles.

‘While we’ve had these plans in the works for some time, given the recent outcry over privacy concerns in the media, we felt it was important to unveil those plans to our users now,’ he said.
• Source(s): Facebook Inc. and MySpace / Digital Media Group / News Corporation
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