News Corp. announced plans to launch a global programmatic ad exchange that will let advertisers buy across its more than 50 online and mobile products including WSJ.com, Times.co.uk and NYPost.com.
Rupert Murdoch may know who will succeed him at News Corp. and 21st Century Fox, but he’s not sharing. “We have them,” Murdoch said in response to questions about succession plans, adding that it was a matter for the board of directors. “But they’re not public. The board knows them.”
News Corp. Chairman Rupert Murdoch will accept an invitation to appear before a committee of the British Parliament to discuss taped comments he made about a police investigation into journalists’ phone hacking and alleged illicit payments to British authorities. Murdoch’s comments, secretly recorded during his visit to the News Corp.-owned Sun tabloid in March, have exploded into a controversy over whether the press baron was condoning the payments to officials by suggesting such behavior was part of the “culture of Fleet Street.”
Rupert Murdoch belittled a British police inquiry into bribes allegedly paid by his journalists in a secret recording made by his staff, in sharp contrast to the profuse public apologies he made to defuse anger at newsgathering practices.
On the first day of trading as separate companies, Rupert Murdoch’s television and movie empire, 21st Century Fox, gained nearly 2% while the publishing company ended the day down 5%. Still, the publishing entity, which took the name News Corp., largely held its own with investors.
To herald its split into two companies, News Corp and 21st Century Fox have taken out two-page ads in publications including The New York Times, Washington Post and the Murdoch-owned Wall Street Journal trumpeting “Day 1.”
News Corp. completed the spinoff of its publishing assets Friday, setting the stage for both companies to prove themselves on the open market. Shares for both companies began early trading on June 19, but normal trading will begin this week.
Rupert Murdoch bowed to investor pressure to split his six-decade-old publishing business from the rest of News Corp.’s media empire. Now it’s time for the newspaper unit to prove it can make it on its own. The publishing unit officially becomes independent today, losing the backing of News Corp.’s entertainment business as it pursues growth in a declining industry. The newspaper company, which will keep the News Corp. name, is valued at about $8.9 billion — a seventh the level of entertainment business, now called 21st Century Fox.
News Corp’s publishing and entertainment arms began trading separately on a preliminary basis today, one of the last steps before Rupert Murdoch’s company officially splits in two on June 28.
News Corp. said its Chief Financial Officer David DeVoe would retire following the company’s separation into two business at the end of June. The company said Deputy CFO John Nallen will become CFO of 21st Century Fox, which will hold News Corp.’s media and entertainment businesses after the split.
LOS ANGELES (AP) — News Corp. CEO Rupert Murdoch has filed for divorce from Wendi Deng Murdoch, his wife since 1999, citing a breakdown in the relationship. The matter doesn’t alter the succession plan for the media company, which the 82-year-old founder controls through a family trust. Murdoch filed a one-page document Thursday indicating that […]
Rebekah Brooks appeared in court on today and denied five counts relating to Britain’s phone hacking scandal, which forced the closing of one of its biggest tabloids.
Robert Thomson, the CEO of the publishing firm that will retain the company name after the separation says the new logo will be “our emblem for this future. The name is historic and the script is based on the writing of Rupert and his father who have provided us all with not only a name, but a remarkable professional platform.”
Rupert Murdoch’s News Corp. moved closer to the planned breakup of the $76-billion global media conglomerate as board members this week formally approved the split. June 28 is the target separation date.
It isn’t the kind of thing a network exec wants to admit the week before broadcasters open the upfront ad sales season. But the News Corp COO, in a quarterly call with analysts, couldn’t avoid the fact that this season’s ratings declines show “it’s not been a great year for the broadcast business overall from a creative perspective.” Carey says it’s time for networks to “discard a few habits and rules and take some shots. Hopefully next week will be the beginning of that process.”
The increase to $196 million was driven by a near doubling of retransmission consent revenues and lower programming costs at the Fox broadcast TV network.
The Media Bureau says that that Citizens for Responsibility and Ethics in Washington did not supply the proof the agency needs to pursue a character-qualification case against a U.S. station licensee. CREW claimed that News Corp.-owned Fox “lacks the requisite character to hold broadcast licenses here in the United States” due to the parent company’s phone-hacking scandal in the United Kingdom.
Rupert Murdoch’s News Corp. will hold a special meeting June 11 for shareholders to vote on amendments needed to authorize the company’s plan to break into two separate publicly traded entities.
The insurers backing News Corp.’s board will pay the company $139 million shareholder lawsuits over the British phone hacking scandal. The cash, after subtracting fees for the plaintiffs’ lawyers, will benefit shareholders indirectly by going into the company’s coffers.
News Corp. CEO Rupert Murdoch has settled on a name for the entertainment and media company that will split off from the media conglomerate’s publishing division — 21st Century Fox.
Hulu’s board has approached potential buyers to gauge their interest in buying the online video service, three sources close to the company say, as owners News Corp. and Walt Disney Co. weigh what to do with their interests in the five-year-old company. The board sounded out several possible buyers as part of an internal strategic review begun recently, but it has not received a formal offer, one of the sources said on Monday. It was unclear how many parties Hulu had contacted.
News Corp. wants the FCC to waive a rule that would prevent it from acquiring the Los Angeles Times, but Chairman Julius Genachowski’s exit may delay further action.
News Corp. is about to shower hundreds of millions of dollars on DePaul, Georgetown, Marquette, Providence, Seton Hall, St. John’s, and Villanova, and at least three other to-be-named schools, believed to be Butler, Creighton and Xavier, in exchange for the cable TV rights to regular season basketball games played by the schools.
News Corp. and Walt Disney Co. have begun discussions about resolving uncertainty over their jointly controlled online video site Hulu, with one possible outcome being that one or the other company sells its stake. The two companies, each of which owns about a third of Hulu, have indicated at different times over the past few months their willingness to buy the other out, the people say. There is also the possibility both companies will decide to sell to an outsider, the people said.
Chairman Rupert Murdoch took advantage of the jump in value of News Corp. stock by selling $40 million in voting shares last week. Shares closed trading Friday at all-time highs.
AllThingsD, the widely read technology blog run by Kara Swisher and Walt Mossberg, has begun discussions with owner News Corp. about extending or ending their partnership, sources familiar with the situation say.
The arrest of six more journalists from the shuttered News of the World suggests a new line in the phone-hacking investigation—and a whole new world of pain for Murdoch.
News Corp. Chief Operating Officer Chase Carey insists he has no regrets about losing out on bidding for the Dodgers’ television rights. Rival Time Warner plunked down a reported $8 billion to broadcast the Los Angeles-based team’s games for 25 years starting in 2014, but Carey told analysts and investors on Wednesday that the deal was “too rich for our blood.”
A 7.9% gain in television revenue is driven by a more than doubling of retransmission consent revenues and increased local advertising at the Fox Television Stations led by political advertising revenues. Cable revenue was up 18%.
Rupert Murdoch’s newspaper and book publishing arm is to spend billions of dollars on video rights, as it seeks to turn the print business into a multimedia operation.
John Malone’s Liberty Global has opened talks with Britain’s Virgin Media over a takeover that would increase the U.S. cable group’s dominance in Europe and step up a challenge to media mogul Rupert Murdoch.
Now that Rupert Murdoch is spinning off News Corp.’s publishing properties into a separate company, media observers have identified the Los Angeles Times as a possible target for acquisition. But Murdoch said such a move is unlikely since News Corp. owns two L.A. TV stations and the buy would violate the FCC’s cross-ownership rule.
BERLIN — A wholly owned subsidiary of Rupert Murdoch’s News Corp. has taken a majority stake in German pay TV operator Sky Deutschland. The Munich-based channel said in a statement Monday that News Adelaide has increased its holding in Sky Deutschland to 54.5% for €347.4 million ($461.14 million). Sky Deutschland says News Corp. has also […]
News Corp. took its biggest step yet towards a planned split Friday in a proxy statement laying out the operational and financial structure of what it’s calling the “new News Corp.”That’s the entity that will be spun off from what’s going to be known as the Fox Group, which will house all entertainment assets. News Corp. plans to hold a special shareholders meeting in 2013 to vote on the separation, which it has said would be done by the summer.
John Nichols on the FCC considering the restructuring of media ownership rules and how it would benefit Rupert Murdoch and News Corp.: “In a rapidly diversifying country, it becomes all the more important that media outlets reflect that diversity. Allowing further consolidation of ownership in the hands of existing owners makes that prospect more remote.”