Star Group may clock $ 100 million+ profit in 2005

NEW DELHI: The Rupert Murdoch-controlled Star Group, News Corps pan-Asian venture, is expected to clock a profit of over $ 100 million for financial year (FY) ending June 2005, riding strongly on the Indian operations.

Basing its observations on a 2 February financial results conference call, featuring Murdoch, Hong Kong-based Media Partners Asia has quoted News Corp as saying that profit at Star will be well over $100 million for FY 2005.

The revenues, according to News management, would be largely driven by the strength of programming operations in India, which include market leader Star Plus, new free-to-air and pay channels and the addition of the Disney kids channels to the Star distribution bouquet.

Star more than doubled consolidated operating income to an estimated $29 million despite initial cost associated with launching a new general entertainment channel in India (Star One) last year and continued losses in China.

During the conference call, quoted by MPA, News stated that Star revenues grew by six per cent during the December 2004 quarter, which MPA estimates to total $133 million. This has been driven largely by advertising gains (mainly associated with Star Plus in India) and subscription revenue growth that is attributable to the launch of Star Chinese Movies in South-East Asia.

MPA estimates that Star could deliver at least $109 million in operating income for FY 2005, driven largely by India, though it is also expected that Xing Kong would break even in China.

We forecast revenue growth of 16 per cent through FY 2005 with advertising growth in India expected to reach between 20 30 per cent. Other contributors will include Taiwan, China and South East Asia,MPA said in a recent report.

With a joint venture with the Tatas for a DTH platform yet to get Indian government clearances, MPA does not expect the Space TV venture to commercially launch services until Q4 2005.

For Q2 FY 2005 (quarter ending December 2004), News Corp reported on 2 February an increase in operating income by 24 per cent year-on-year to $954 million, driven by its filmed entertainment and cable network (income of $227 million, up 46 per cent Y/Y) divisions. Growth at the TV division was soft at $153 million, bolstered only by record earnings at News� Asian

subsidiary, Star Group.

Latest Reads
Splash and assemblage entertainment begin production on norm of the north sequel

Assemblage Entertainment, the feature-film focused CGI animation studio has begun production on the sequel of 2016 theatrical feature film Norm of the North, along with Splash Entertainment, Lionsgate and Dream Factory In many first-of-its times, it is unprecedented that an independent animated...

Television Production House Film Production
Vijendra Singh, Indian Boxing Champion associates with Pokerbaazi, one of India’s pioneer online poker platforms has signed Vijender Singh as its new brand ambassador. Prior to roping in Indian professional boxer, Indian film star, actor, and model, Sunny Leone was the face of the brand. By roping in boxing champion Vijeder Singh as its brand...

Television TV Channels Sports
COLORS INFINITY serves an intoxicating concoction of bollywood Besties, Gossip, Games

Make Saturday nights your date night with some of your favorite Bollywood best-friends, as COLORS INFINITY brings to you the latest season of the popular homegrown chat show Jeep presents BFFs with Vogue powered by Motorola and beauty partner, starting Saturday January 20, 2018 at 8pm on...

Television TV Channels English Entertainment
Experience first-hand India's historic Military Operation in a gripping new documentary

On 18 September 2016, four Jaish-e-Mohammad terrorists attacked an Indian Army Garrison in the town of Uri, Jammu and Kashmir. 19 Indian soldiers were martyred in the Fidayeen attack. Eleven days later

Television Production House Fiction
578 players to go under the hammer for IPL auction

The much-anticipated VIVO IPL 2018 player auction list is out with 578 players up for grabs. This big pool of cricketers, which comprises 360 Indians, will go under the hammer in Bengaluru on 27 and 28 January, 2018.

Television TV Channels Sports
BARC panel tampering: first arrests made

The Cyber Crime Police in Bengaluru, acting on a complaint filed by the Broadcast Research Council of India (BARC), has arrested five people allegedly for trying to tamper with the television viewership data generated and reported by BARC every week.

Television TV Channels Viewership
Cautious investments serve MTV Beats well

MUMBAI: When digital media made it easy for people to listen to songs anywhere anytime, it sounded like the death knell for music channels on TV. Years later, however, they continue to survive.

Television TV Channels Music and Youth
Comedy Central sets pace for ultimate celebration with over 100 hours of non-stop FRIENDS ultra marathon for its 6th birthday

Birthdays and New Years are great occasions to make resolutions for participating in marathons. However, this is one marathon which calls for hanging up your running shoes and grabbing the best spot in front of the telly with a bowl of munchies to keep you going because, for the first time ever in...

Television TV Channels English Entertainment
U Sports launches India's first ever Multi-Platform Multi-Game E-Sports Championship - U Cypher with MTV

The Indian E-Sports scenario is all set for a major revamp as U Sports, one of India’s biggest sports business companies in association with India’s No. 1 Youth Brand, MTV, announces the premiere of their all new month-long championship, U Cypher with MTV. Premiering today, on 19th January, the...

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories