Television

News Corp net down 8 per cent in Q3

MUMBAI: Rupert Murdoch owned News Corp's net income in the fiscal third quarter ended 31 March 2005 has fallen 8 per cent due to higher programming costs at its Fox broadcast network and loss from restructuring a sports partnership with Cablevision Systems Corp.

Net income fell to $400 million, from $434 million a year ago. Revenue jumped 17 per cent to $6 billion, pumped up by cable advertising at FX and Fox News channel. Operating income also rose 9 per cent to $889 million.

Murdoch could well be pleased with Star's third quarter operating income which increased over 60 per cent as advertising and subscription revenue gains drove total revenue up 10 per cent. Higher revenues came primarily from Star Plus as well as contributions from several new channels in India, including Star One, the company said in a release.

 

 

What led to News Corp's decline in overall net income? "Higher consolidated operating income and an improvement in equity earnings of affiliates were more than offset by a $77 million loss recognised on the company's investment in regional programming partners," News Corp said in a release.

Commenting on the results, Murdoch said: "The quarter saw strong performances in our filmed entertainment and cable network programming segments. While the television segment was down year-on-year, reflecting higher programming costs and the soft advertising marketplace in the US, our stations generated record market share and the broadcast network, on the heels of its victory during the February sweeps, is poised to win the broadcast season ratings race for the first time in its history."

The quarterly results were dragged down by a 15 per cent fall in TV operating income to $221 million, largely due to a rise in programming expenses at the Fox network from the Super Bowl.

Cable network programming reported third quarter operating income of $172 million, an increase of $61 million a year earlier. The 55 per cent growth reflects continued advertising and affiliate strength at Fox News Channel and FX, the lack of NHL programming costs at the Regional Sports Networks due to the cancellation of the season and the absence of losses from the Los Angeles Dodgers which was sold during fiscal 2004, the release said.

The filmed Entertainment segment reported record third quarter operating income of $251 million, up 15 per cent versus the $218 million reported a year ago. The current quarter results primarily reflect strong worldwide theatrical revenues and increased contributions from film and television home entertainment releases.

SKY Italia reported a third quarter operating loss of $21 million versus $24 million a year ago on local currency revenue growth of 20 per cent. The improvement versus the prior year primarily reflects strong subscriber additions over the past year with more than 136,000 net new subscribers added during the third quarter alone. SKY Italia.s subscriber base exceeded 3.2 million at quarter end. "The revenue growth was mostly offset by increased programming spending during the quarter primarily due to the broadcast of additional soccer matches and movie titles as well as the addition of ten new entertainment and news channels on the basic programming tier," the release informed.



Murdoch aims to buy Malone's stake in News Corp

Murdoch was quoted in international agencies as having said that he wants to buy all or a portion of Liberty Media chief John Malone's 18 per cent stake in News Corp. The chairmain and CEO of the media giant told analysts that he hoped to resolve the lingering issues with Liberty in the next three months. Commenting on the group's plans for its $6 billion cash reserves, Murdoch said: "We have got various alternative ways to deal with that, but we are not going to make up our mind to do anything until we resolve the Liberty position, which we would expect to do certainly before we get back to you again in three months."

BskyB on target

Beating estimates, BSkyB has added 95,000 net digital satellite subscribers in its fiscal third quarter. Total subscribers has crossed over 7.7 million, indicating that the company is well in line to meet its target of eight million subscribers by 2005-end.

Net income for the quarter rose 5.3 per cent to 119 million pounds, from 113 pounds a year ago. Revenue jumped 9 per cent to 1,015 pounds, up from 931 million pounds.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/madhvan_0.jpg?itok=GrROQRmt
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
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/vijendra_0.jpg?itok=ZPuHFHFV
Vijendra Singh, Indian Boxing Champion associates with Pokerbaazi

PokerBaazi.com, 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
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/bff.jpg?itok=W52X-fZ5
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 Nykaa.com, starting Saturday January 20, 2018 at 8pm on...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/indian.jpg?itok=6zQ-0BOt
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
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/trophy.jpg?itok=khbRFiK2
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
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/BARC%20India-Image_1.jpg?itok=VW_FNs3c
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
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/ferzad.jpg?itok=VswwXfNe
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
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/cc.jpg?itok=vyxpkA3V
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
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/usports.jpg?itok=kTmil1B-
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