Taking advantage of digital age key to unlocking shareholder value: Murdoch

MUMBAI: A couple of days ago during a speech at News Corp's annual stock holder meeting, chairman and CEO Rupert Murdoch stressed on the importance of taking advantage of the digital age.

Murdoch noted that if News Corp wanted to deliver on the mission of returning value to its shareholders then it is important that the company is transformed to take advantage of the massive digital transition that is occurring. "At its core, this company from the very beginning has been about offering choice – greater choice – to under-served consumers.

"It’s what led us to create a fourth broadcast network and a third cable news network; a regional sports network and a UK and Italian satellite platform. Empowering the consumer through greater choice is exactly what this company strives to accomplish. And there’s no greater medium of choice than the Internet."

He noted that to leverage the value of the online world the company formed a special Internet unit earlier this year. Properties like Intermix Media were acquired that have instantly delivered tens of millions of new customers, and, in the process, begun a transformation of the company.

Speaking on the media major's performance, the News Corp boss said, "I’m very pleased to report that fiscal 2005 was another record year for the Company on virtually every key financial indicator. The past three years of double-digit revenue and operating income growth have placed your company in the strongest financial position in its history."

Some highlights that Murdoch listed:

• Net income up 39 per cent to $2.1 billion. A record.

• Cash flow from operations up 41 per cent to $3.4 billion. A record.

• Revenues up 15 per cent to $23.9 billion. Another record.

News Corp finished the year with $6.5 billion in cash, while net debt fell to just $4.5 billion.


Murdoch also made a pointed reference to News Corp's Asian operations stating: "The other major asset in the Television segment – our pan-Asian channels group Star – was a testament to how a bold, long-term vision can pay off. After a long infancy, Star has blossomed into one of News Corp’s most exciting growth drivers. Earnings more than doubled last year and I fully expect them to be significantly higher again this year. Star India, which has the most popular shows on cable and a vast library of local programming, is becoming a major profit contributor. And in China we have a great presence with Xing Kong and I’m confident of our future there."

Latest Reads
Zee Cinema to air the World TV Premiere of the family entertainer Pad Man on Saturday, 26th May at 8PM

The people who are crazy enough to think they can change the world are the ones who do. A movie that dared to break stereotypes and talk about a tabooed topic, Pad Man was instrumental in creating a platform to discuss female hygiene in the country. Helmed by the celebrated director R Balki, Pad...

Television TV Channels Movie Channels
TV Today board recommends 45% dividend; numbers up

The board of directors of TV Today Network Ltd (TVTN) has recommended a dividend of Rs 2.25 (45 per cent) per equity share of face value of Rs 5 each for the financial year ended 31 March 2018 (FY 2018, year, fiscal under review). The company has reported 10.7 per cent growth in consolidated total...

Television TV Channels News Broadcasting
Sony takes audiences to the crossroads with new show

MUMBAI: After being a leader in introducing mythological shows, Sony Entertainment Television (SET) is taking a different route. The channel’s latest offering is Zindagi ke Crossroads, a 39-episodic interactive show where the studio audiences will put forward their opinions on the challenges faced...

Television TV Channels GECs
Cosmos-Maya’s next international co-production is a spin-off series of the much talked about 3D Animation feature film Leo da Vinci: Mission Mona Lisa

is another high quality 3D animation international co-production - a spin-off series based on the recently released film Leo da Vinci: Mission Mona Lisa.

Television TV Channels Kids
EPIC TV & Penguin Present The Third Book Of The Devlok With Devdutt Pattanaik Series

Where did the name Radha come from? When did Christianity first come to India? What is the connection between sanskar and dharma? After the enormous success of the first two books in the ‘Devlok with Devdutt Pattanaik’ series, India’s favourite mythologist, Devdutt Pattanaik, is back with a third...

Television TV Channels Factual & Documentary
Banijay Asia and Salman Khan TV collaborates to create content for digital and tv

World’s largest independent content creation group, Banijay Group recently entered Indian & South East Asian market under the guidance of Deepak Dhar with an aim to produce content across genres. Banijay Asia &SK TV, which was launched few years back, come together to create novel and...

Television TV Channels GECs
DSport reaches 110 mn households in a year

DSport, the sports TV channel by Discovery Communications, has achieved the milestone of reaching 110 million households in India. The channel was launched on 6 February 2017 and achieved the milestone within one year of operations in India and has expanded its distribution across all DTH and...

Television TV Channels Sports
Star Suvarna to telecast 'Kannadada Kotyadhipati 2018' the Kannada version of 'Who wants to be a Millionaire' as part of its revamp

May 21, 2018: The third season of Kannadada Kotyadhipati, the Kannada version of ‘Who wants to be a Millionaire’, which sets the stage for a revamps of Star Suvarna, the Kannada GEC channel of Star Network will premiere in June’18. Since January 2018, the channel has gained viewership share in...

Television TV Channels Regional
Republic Network partners with CAF India to nurture the Culture of Giving amongst Indians as part of its first year celebration.

Republic TV, India’s number 1 English news channel for non-stop 53 weeks is celebrating its milestone first year anniversary in a unique and special way. Republic TV has partnered with Charities Aid Foundation (CAF) India, a not for profit organisation to fuel and accelerate the spirit of giving...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories