MUMBAI: Rupert Murdoch-owned News Corporation?s annual net income fell 55.55 per cent to $1.2 billion from $2.7 billion reported in the prior year.

The company?s bottom line was hit due to a $3 billion pre-tax impairment and restructuring charge primarily related to the company?s publishing businesses.

Earlier, this year News Corp had announced that it will separate its profitable television and entertainment business from the publishing, which has been a strain on its bottom line.

Cable networks underpinned by strong growth at regional sports networks including ESPN Star Sports and international cable networks which includes Star India was the only silver lining for the battered media conglomerate at a time when it was through its most difficult phase due to phone hacking scandal.

News Corp?s reported annual revenue of $33.7 billion, 1 per cent increase over the $33.4 billion of revenue reported a year ago. The annual revenue increase was led by 14 per cent growth at the company?s Cable Network Programming segment, partially offset by declines primarily at the company?s Publishing and Other segments.

The Company reported annual total segment operating income of $5.4 billion compared to $4.9 billion reported a year ago. This increase was driven by operating income improvements at nearly all of the Company?s segments, led by a $535 million increase at the Cable Network Programming segment and a $205 million increase at the Filmed Entertainment segment.

These improvements were partially offset by decreases at the Publishing segment, reflecting advertising weakness at the international newspaper and integrated marketing services businesses, and the absence of contributions from The News of the World.

The full year results included a $224 million charge related to the costs of the ongoing investigations initiated upon the closure of The News of the World. The prior year results included a $125 million charge at the Company?s integrated marketing services business related to the settlement of litigation.

Excluding these charges from both years, respectively, this year?s adjusted total segment operating income of $5.6 billion increased 13 per cent, from $5 billion in the prior year.

News Corp Chairman and Chief Executive Officer Rupert Murdoch said: ?We are proud of the full year financial growth achieved over the last twelve months, led by our Cable Network Programming and Filmed Entertainment segments. Not only did we execute on our operating plan and deliver on our financial targets, we returned over $5 billion to shareholders through an aggressive buyback program and dividends. In addition, significant progress has been made in opportunistically addressing the Company?s non-consolidated assets, as demonstrated by the purchase of Fox Pan American Sports, the sale of NDS and the announced intention to purchase the remaining ownership stake of ESPN Star Sports and Consolidated Media Holdings.

?Our Company has continued to innovate, grow and consistently adapt to the rapidly changing media industry landscape. We find ourselves in the middle of great change, driven by shifts in technology, consumer behavior, advertiser demands and economic uncertainty and change brings about great opportunity. News Corporation is in a strong operational, strategic and financial position, which should only be enhanced by the proposed separation of the media and entertainment and publishing businesses.?

During the fiscal, News Corp had consolidated its ownership stakes in affiliate companies by purchasing Fox Pan American Sports and announcing the intent to purchase the remaining ownership stake of ESPN Star Sports, and Consolidated Media Holdings. The company along with private equity firm Permira sold pay-TV encryption company NDS to Cisco in a $5bn deal.

Full Year Company Results

Cable Network Programming

Cable Network Programming reported annual segment operating income of $3.3 billion, a 19 per cent increase over the prior year, driven by a 14 per cent increase in revenue. Operating income contributions from the domestic channels increased 21 per cent, underpinned by growth at the Regional Sports Networks (RGNs), Fox News Channel and the FX Network. The Company?s international cable channels grew earnings 16 per cent, reflecting strong growth in Latin America and Asia.

Affiliate revenue growth of 12 per cent at the domestic cable channels primarily reflects higher rates at all domestic networks, led by growth at the RSNs and Fox News Channel. International cable channels? affiliate revenues increased 27 per cent over the prior year. Nearly two-thirds of the international increase primarily reflects organic growth at the Fox International Channels in Latin America and Asia, with the remaining portion of the international affiliate revenue growth attributable to the consolidation of the Fox Pan American Sports network.

Advertising revenue at the domestic cable channels grew 9 per cent in fiscal 2012 over the prior year, reflecting growth at nearly all domestic networks led by growth at the FX Network, Fox News Channel and the National Geographic Channels. The international cable channels? advertising revenue grew 13 per cent over the prior year, primarily due to improving advertising markets and viewership trends in Latin America, Asia and India.

In fiscal 2012, expenses at Cable Network Programming grew 11 per cent over the prior year, due to increased programming costs including rights fees for the launch of the Ultimate Fighting Championship, as well as increased expenses associated with the consolidation of the Fox Pan American Sports network and the launch of new sports networks in Brazil and San Diego.

Filmed Entertainment

Full year segment operating income increased $205 million, or 22 per cent, over the prior year to $1.1 billion. The growth was driven by a strong release slate including the successful worldwide theatrical and home entertainment performances of Rise of the Planet of the Apes, Alvin and the Chipmunks: Chipwrecked and The Descendants, and home entertainment performances of Rio, X-Men: First Class and Mr. Popper?s Penguins. The year also benefitted from increased operating profit at the television production studios led by the growth of digital distribution revenue from the licensing of content to Netflix and Amazon, as well as an increase in license fees for How I Met Your Mother.

Television

Full year segment operating income of $706 million, increased $25 million versus a year ago. The increase was driven by a doubling of retransmission consent revenues, partially offset by lower political advertising revenue at the local television stations and the absence of the prior year?s broadcast of the National Football League Super Bowl XLV. Excluding the impact of the Super Bowl broadcast, national advertising revenues increased over the prior year reflecting the stronger fall schedule led by The X-Factor and New Girl being partially offset by lower American Idol ratings.

Direct Broadcast Satellite Television

Sky Italia generated annual segment operating income of $254 million, a $22 million, or 9 per cent, increase compared to the prior year. The improvement was due to lower programming costs resulting from the absence of Fifa World Cup costs and lower marketing costs related to the prior year?s rebranding campaign. Local currency revenue for the year was consistent with the prior year. Sky Italia?s year-end subscriber base declined to 4.9 million due to the net reduction of approximately 71,000 subscribers during the year, reflecting the continued challenging economic environment in Italy.

MUMBAI: Star has acquired the rights for a slew of shows for India including ?Pan Am? from Sony Pictures Television.

Star India senior VP, GM English channels Saurabh Yagnik confirmed the acquisition saying that other shows that have been bought recently include ?The River?, ?Missing? with Ashley Judd and ?Charlie Angels?.

Interestingly, ?Charlie?s Angels? was cancelled by US broadcaster ABC after just four episodes. The re-boot of the 1960?s series failed to gain traction.

Yagnik said that acquisitions have to make business sense. "We look at a show from the point of view of the cost, from the aspect of whether it will generate interest among viewers. The shows will air on Star World. We have to decide when to launch them."

?Pan Am?, starring Christina Ricci, centres around the iconic airline Pan American World Airways during the early 1960s. The story begins in 1963 and focusses on the pilots and stewardesses working for the world-famous airline.

?The River? from Steven Spielberg, meanwhile, is a paranormal/adventure/horror series that will debut during the 2011?12 television season on ABC as a mid-season replacement. Eight episodes will be produced for the first season.

The show follows the story of wildlife expert and TV personality Emmet Cole. Emmet set course around the world with his wife, Tess, and son Lincoln, while filming what would become one of the most popular shows in television. After he goes missing deep in the Amazon, his family, friends and crew set out on a mysterious and deadly journey to find him.

?Missing? is an action drama show. The story is about a worried mother played by Judd, whose son disappears while on a summer internship in Italy, takes it upon herself to travel to Europe and tracks him down. She is a retired CIA agent and uses every means necessary to get her son back.

The show also stars Cliff Curtis, Sean Bean and Nick Eversman.

 
MUMBAI: Viewers of BBC Entertainment in India will begin a new journey of discovery on 29 November 2011 with the launch of Lonely Planet branded programming blocks on the channel.

The news follows Worldwide Networks and Global BBC iPlayer president Jana Bennett?s announcement in June of plans to integrate the travel brand into BBC Worldwide?s international channel portfolio.

The block will feature on BBC Entertainment, as part of the multi-genre schedule that airs on the channel. Elsewhere the block will air on BBC Knowledge.

In India, Lonely Planet will debut with ?Free Rein? and ?Amazon With Bruce Parry?.

The Lonely Planet block will provide a dedicated home to the channel?s most compelling and immersive travel programming, including ?Free Rein?, specially commissioned by BBC Worldwide Channels from Lonely Planet?s production arm and Freehand.

The programme follows screen legends Bryan Brown and Rachel Ward (The Thorn Birds) as they set out on the ultimate adventure across The Kimberley, the Outback?s last frontier.

Also destined for the new programme block in 2012 is the action-packed series ?Year of Adventures?, starring Ben Fogle and based on the Lonely Planet book of the same name. Currently filming in Wales, Europe, the USA and Australia, the series is a Lonely Planet TV and BBC Bristol production for BBC Worldwide Channels.

Bennett said, "This dedicated home on BBC Knowledge marks a major step in our development of Lonely Planet as a television brand. BBC Worldwide will continue to support its growth through these programming blocks and through specially commissioned Lonely Planet productions. We hope that in time, the brand can evolve into a standalone television channel."

The new block will roll out across all of BBC Worldwide?s localised BBC Knowledge feeds around the world - Poland, Africa, Italy, the Nordic Region (Denmark, Finland, Norway, Sweden), Australia, New Zealand and Asia (Indonesia, Malaysia, Hong Kong, Singapore, South Korea).

The block will debut in Asia on 1 November, with ?Arctic With Bruce Parry? as the launch title and ?Free Rein? to follow in December.

Australia and New Zealand follow on 2 November, with ?Free Rein? premiering in Australia that day, and on 12 November in New Zealand. On 5 November, the block launches in Europe, Middle East and Africa with ?Tribe?, ?Long Way Round? and Lonely Planet TV production ?Roads Less Travelled? among the programme line up.

Further programmes set to roll out on Lonely Planet include ?Paul Merton in India?, ?Tropic of Cancer with Simon Reeve? and ?Russia: A Journey with Jonathan Dimbleby?.

BBC Worldwide senior VP Programming and TV Channels David Weiland said, "The Lonely Planet schedule is designed to take our viewers on a journey of exploration and discovery, and we?ve selected these titles to feed their passion for experiencing the world through travel. Along with our own growing roster of original commissions - like ?Free Rein? and ?Year of Adventures? - these programmes will find a natural home in the Lonely Planet block, with a host of engaging personalities and experts to transport viewers right to the heart of a place."

Lonely Planet was founded in 1973. In February 2011, BBC Worldwide took full ownership of the brand, having held a 75 per cent stake in the company since 2007.