Murdoch targets end-2006 for business channel launch

MUMBAI: News Corp. chairman Rupert Murdoch plans to launch a business news channel to counter CNBC. In an interview to be published in the13 February issue of Newsweek, Murdoch said the channel would be up and running by the end of 2006.

"We're in pretty intense discussions with the biggest cable companies, and making quite considerable progress," says Murdoch. "You can expect something fairly soon."

Murdoch also plans to announce a $1 billion plan for adding broadband to DirecTV, the satellite- TV service he controls, by the end of the month. His combined Internet interests, he says, will add up to "a conservative $1 billion" in revenues by 2010, not counting any more acquisitions.

One venture Murdoch does not have in the works is a head-on clash with Google and Yahoo for search business, according to the Newsweek report. Murdoch does plan to enter the market "in those aspects of search where we can target different audiences for advertising. But no way will we do a frontal assault on Google and Yahoo!," he says.

He also has no plans, for now, to offer Fox shows via iTunes as other networks have done. "We're not knocked out by iPod so far," he says. "We have talked to them, to Google and others. But how many people really want to get video on a tiny screen when they already have TiVo or a similar service from their cable company or DirecTV?"

And while Viacom CEO Sumner Redstone broke apart his company in order to boost its stock price, and with dissident investor Carl Icahn expected to unveil a similar plan for Time Warner this week, Murdoch maintains that splitting up is not a winning strategy. "Look at Viacom shareholders. They made little or nothing," he says. "Look at Time Warner. They are very well run. If you split them apart, there's no more than $1 or $2 in it for shareholders. And that's without thinking about [capital gains] taxation ... I don't know what Icahn thinks he's doing. Icahn has gone out on a limb. Even if he succeeds in getting it broken up, and that would be very sad, I don't think he'd make money out of it."

In response to recent reports of predators trolling the wildly popular for potential victims, Murdoch says, "We're being very proactive. We plan to reach out further to school principals, church groups and community organizations to educate them on the safety measures we've developed. For example, no one under 14 is allowed to register on the site, and there are strict limits on who can access profiles of users under 16. We've also got a third of our workforce monitoring the site to prevent inappropriate material from being posted."

Latest Reads
BIG Magic acquires 'Boonie Bears' exclusive FTA rights

BIG Magic has acquired exclusive FTA rights of ‘Boonie Bears’, the No.1 and most popular animated series in China. BIG Magic has renamed it ‘Babloo Dabloo’ for the Hindi viewing audience. Babloo Dabloo airs every Monday – Sunday 10 am – 11 am & 5 pm – 6 pm only on BIG Magic

Television TV Channels GECs
PBL: Setting stage for next big thing on Indian sporting landscape

India has witnessed the emergence of a multi-sports culture over the past few years. This significant development has come on the back of a promising display by Indian sportspersons across various disciplines, the meteoric rise of home grown leagues and the consequent widening of the fan base of...

Television TV Channels Sports
CNNMoney new section will be about the fastest growing economy; MoneyStream app launched

MUMBAI: Attracting 1.8 million average monthly page views, witnessing a 37 per cent growth in video consumption and 16 per cent in unique browsers month-on-month from India in less than a year’s time is not smooth. In its ambitious plan of global expansion, CNN Digital is leaving no stone unturned...

Television TV Channels News Broadcasting
Content a 'Game of Thrones'; AT&T's control over HBO, Cartoon Network, Warner Bros faces regulatory lens

The global media landscape is resulting in a new juggernaut as an internet and cable behemoth yesterday purchased an entertainment conglomerate making the former unmatched in its size and reach to consumers through home broadband, smartphones, satellite television and a battery of movies and cable...

Television TV Channels English Entertainment
US$ 4.5 bn expected from IPL rights; SC recommends accounts scrutiny

The Supreme Court on Friday froze all financial transactions between the BCCI and state cricket associations by directing the apex body not to disburse any funds till it resolves to abide by the Justice RM Lodha panel recommendations on reforms by 3 December . The top court ordered that none of...

Television TV Channels Sports
TVS Tyres is co-presenter for Asian Champions Trophy 2016

Continuing its strong connect with sports, TVS Tyres has associated with Asian Champions Trophy 2016 by becoming the co-presenter. The Asian Champions Trophy is one of the premier hockey tournaments, a much sought after annual international competition promising some great hockey action. This...

Television TV Channels Sports
Q2-17: Zee Learn declares maiden interim dividend

The board of directors of the Essel group’s education company Zee Learn Limited (ZLL) have declared a first time ever dividend of 5 percent per equity share of Re 1 each for the quarter ended 30 September 2016 (Q2-17, current quarter).

Television TV Channels Factual & Documentary
Whether BARC action can stop unethical practices?

MUMBAI: Can businesses and industries practise their art of selling fairly although they have 'Fair Practices' training during academic courses, workshops and several ISO and other certifications? There seems to be the fear of the lawman, and not the law in India. If the traffic cop is watching,...

Television TV Channels Viewership
TV Superhighway: beIN, Yaddo, AfricaXP have joined us, says Magine CEO Ambuj Goyal

CANNES; Magine has secured partnerships with four of the industry’s most exciting sports, documentary and entertainment content providers. Partnerships with beIN, the international media group and owner of MIRAMAX; Yaddo, the new documentary streaming service headed up by former head of The BBC’s...

Television TV Channels Factual & Documentary

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories