BUSINESS
February 9, 2012 | By Dawn C. Chmielewski, Los Angeles Times
Strong performances from the film studio and cable television business helped propel a 65% jump in News Corp.'s net income for its second quarter. The media conglomerate on Wednesday reported revenue of $8.98 billion for the quarter that ended Dec. 31, up 2% from the same time a year earlier. Net income rose to $1.06 billion, compared with $642 million a year earlier. Earnings per share rose to 42 cents. "We believe the explosion of consumer demand for digital content, driven by the upsurge in emerging platforms and international opportunities, makes this a great time to be a content leader," President and Chief Operating Officer Chase Carey told investors.
OPINION
January 31, 2012 | By Clay Johnson
There is a new kind of ignorance afoot in the world, one that results from overconsumption of information rather than from a lack of access to it. It's fashionable to blame cable television and the Internet for this new ignorance. And it's true that if you spend much time watching cable news and surfing the Internet, you'll come away thinking that many information providers are more interested in fanning fear and feeding people's preconceived notions than they are at communicating truth.
BUSINESS
January 17, 2012 | By Richard Verrier, Los Angeles Times
After a marathon meeting, Hollywood's two main actors unions took a historic step toward creating the largest and potentially most powerful entertainment union in the industry. Leaders of the 125,000-member Screen Actors Guild and the American Federation of Television and Radio Artists, which has about 70,000 members, reached a merger agreement Monday after nine days of intensive talks at the Renaissance Hollywood Hotel. If approved as expected by the union boards and memberships, the merger would end a decades-long competition between the two groups to organize actors.
ENTERTAINMENT
January 16, 2012 | By Scott Collins, Los Angeles Times Staff Writer
When it came to honoring television, the Golden Globes went small. Really small. Some of the biggest winners at Sunday's Golden Globes were critically acclaimed cable shows that draw relatively tiny audiences — in some cases, far fewer than 1 million viewers per week. These included HBO's comedy "Enlightened," Starz's political drama "Boss," BBC America's crime thriller "Luther," and Showtime's show-biz comedy "Episodes. " Showtime's counterterrorism thriller "Homeland" — which won as drama series and for Claire Danes' turn as a troubled CIA agent — has set ratings records for the premium cable network.
BUSINESS
December 8, 2011 | By Joe Flint, Los Angeles Times
News Corp. Chief Operating Officer Chase Carey hinted that the programming giant would oppose any push from pay-television providers to put sports channels on a specialty tier. The topic of moving big sports channels such as ESPN and regional sports networks - of which News Corp.'s Fox owns 19 - has heated up in recent weeks. With sports rights costs rising, cable and satellite operators are fearing a backlash from consumers - particularly non-sports fans - when bills go up. However, programmers are against specialty tiers devoted to sports channels because it would mean reaching fewer potential viewers and hurt advertising.
BUSINESS
December 8, 2011 | By Meg James, Los Angeles Times
Call it a cable squeeze play. Cable television networks may be the most lucrative divisions of many large media companies, but the networks are beginning to feel the pinch of dramatically higher programming costs. In 2006, TV sports giant ESPN spent $3.5 billion on programming for its flagship channel. This year, the channel's content costs have mushroomed to $5.2 billion — a nearly 50% jump from five years ago, according to consulting firm SNL Kagan. Programming expenses for Time Warner Inc.'s TNT channel have soared 55% since 2006 to $1.1 billion this year, propelled by sports rights fees for NBA and NCAA basketball as well as a lineup of original dramas including "The Closer" and "Falling Skies.