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BUSINESS
July 19, 1993 | From Times Staff and Wire Reports
Murdoch Plan Probed: The Australian Broadcasting Authority has launched an investigation into media mogul Rupert Murdoch's plan to buy 15% of Seven Network Ltd., one of the nation's three commercial television networks. Sources said the watchdog group is most concerned about Murdoch News Corp. Ltd.'s relationship with another big investor, Telstra Corp. Ltd., the government-owned operator of Australia's largest telephone company, which plans to take 10% of the network.
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BUSINESS
January 1, 2010 | By Joe Flint
News Corp.'s Fox TV stations and several of its cable networks remained on Time Warner Cable systems as executives from the two companies negotiated late into the New Year's Eve night on a new contract that would prevent the signals from going dark. Representatives for both sides indicated that negotiations, which had been taking place over the last three days in a conference room on Fox's Century City lot, were cordial. Signaling that headway was appearing to be made, the two companies agreed to a three-hour extension of the contract after a midnight deadline passed on the East Coast.
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BUSINESS
March 29, 1993 | From Reuters
Media magnate Rupert Murdoch has agreed to retake control of the embattled New York Post from controversial tycoon Abe Hirschfeld, Murdoch's News Corp. Ltd. said Sunday, signaling what may be the end to one of the most bizarre takeovers in the nation's newspaper history. The agreement, signed by Hirschfeld and Murdoch, would transfer the tabloid Post from Hirschfeld to a News Corp. unit.
BUSINESS
November 5, 2009 | Dawn C. Chmielewski
Emphasizing a major shift in strategy, News Corp. all but conceded Wednesday that its once-dominant social network MySpace is no longer competitive with rival Facebook or micro-blogging service Twitter and will seek to rebuild the site around entertainment. News Corp. said MySpace -- whose 2005 acquisition was once considered so pivotal that it landed Chairman and Chief Executive Rupert Murdoch on the cover of Wired magazine -- has undergone layoffs and a massive restructuring but continues to lose revenue.
BUSINESS
September 14, 1989 | KATHRYN HARRIS, Times Staff Writer
In an 11th-hour move, two Rupert Murdoch-controlled companies have made a $1.8-billion bid for MGM/UA Communications Co., which was slated to merge with a smaller Australian company in two weeks. MGM/UA said that its directors will meet today to consider the offer, made jointly by News Corp. Ltd. and Fox Inc., the parent of rival film studio 20th Century Fox Film Corp. MGM/UA has been asked for a decision within 24 hours, according to one executive familiar with the bid.
NEWS
September 14, 1989 | KATHRYN HARRIS, Times Staff Writer
In an 11th-hour move, two companies controlled by Rupert Murdoch have bid $1.8 billion for MGM/UA Communications Co., which was slated to merge in two weeks with Qintex, an Australian company. If Murdoch's slightly higher bid succeeds, he would control two major Hollywood studios that together captured nearly 22% of the box office in 1988. MGM/UA said that its directors will meet today to consider the offer, made jointly by News Corp. Ltd. and Fox Inc.
BUSINESS
May 26, 2001 | SALLIE HOFMEISTER, TIMES STAFF WRITER
In a stunning twist in the takeover saga of Hughes Electronics, the board of the satellite TV provider abruptly ousted Chairman Michael T. Smith late Thursday night, removing a major obstacle to News Corp.'s proposed takeover of the El Segundo concern. Smith's departure caps growing friction between Hughes and its parent company, General Motors Corp. Although GM ordered Hughes management earlier this month to concentrate on completing the News Corp.
NEWS
February 22, 1990 | PAUL RICHTER, TIMES STAFF WRITER
Four top media and communications companies Wednesday disclosed plans for a television service that they say will be bouncing dozens of channels off satellites and into American homes by late 1993. National Broadcasting Co., Hughes Communications, Rupert Murdoch's News Corp. and Cablevision Systems said the $1-billion Sky Cable venture will rely on compact 12-by-18-inch receiving antennas and the most powerful commercial satellites in use.
BUSINESS
May 31, 2006 | Claudia Eller, Times Staff Writer
The tensions between Metro-Goldwyn-Mayer Inc. and its studio investor resulted in a board vote Tuesday that will end the fabled company's reliance on Sony Pictures Entertainment as a distributor of its DVDs and television shows. News Corp.'s 20th Century Fox Film Corp. will now release MGM's DVDs worldwide. Previously, Fox had split the distribution of MGM's home entertainment properties with Sony, which had handled the domestic sales.
BUSINESS
August 12, 2000 | SALLIE HOFMEISTER, TIMES STAFF WRITER
News Corp. has agreed to buy BHC Communications and its 10 Chris-Craft television stations for $5.5 billion in stock and cash, sources said Friday. The deal would move the Rupert Murdoch-controlled company into a tie with Viacom Inc. as the nation's largest station operator, with outlets that reach 40% of American households. The deal, expected to be announced Monday, also would make News Corp. the largest owner of affiliates of the UPN network.
BUSINESS
August 22, 2009 | Martin Zimmerman
The Dow Jones industrial average might be up for sale by its owner, News Corp., a move that conceivably could result in a name change for the 125-year-old stock market barometer. The Wall Street Journal, citing unnamed sources, reported Friday that News Corp. was considering selling its stock index business and had reached out to potential buyers. News Corp., which is controlled by Rupert Murdoch, declined to comment. Dow Jones & Co., which News Corp. acquired in 2007, offers thousands of stock indexes that are used as benchmarks by investors and licensed for use by mutual funds and other investment products.
BUSINESS
March 28, 2009 | Dawn C. Chmielewski
Former America Online Chief Executive Jonathan Miller is expected to join News Corp. as head of global digital strategy, according to well-placed sources. Working with the heads of News Corp.'s business units to spur digital initiatives across the company, Miller would be filling a void soon to be left by President and Chief Operating Officer Peter Chernin, who is leaving in June. Miller is expected to report directly to Chairman Rupert Murdoch. Miller cannot join News Corp.
ENTERTAINMENT
March 14, 2009 | PATRICK GOLDSTEIN
Like him or loathe him, Rupert Murdoch is the last of the great media swashbucklers, a throwback to the pirates, cutthroats and visionaries who used to run the business before it was engulfed and devoured by giant risk-averse corporate behemoths. The earthquake that rocked News Corp. this week was a typical Murdoch seismic event. As one of his top executives once told me: "Rupert is a gambler. He tolerates noble failure more than complacency."
BUSINESS
February 25, 2009 | Meg James and Dawn C. Chmielewski
Media Mogul Rupert Murdoch has a knack for corporate chess. Now he's contemplating how to advance his pieces. Murdoch plans to use the exit of his longtime lieutenant, Peter Chernin, to assume more direct involvement in operations and shuffle management at News Corp., which is expected to trigger the departure of some ranking executives, according to people familiar with the matter who asked not to be identified because of its sensitivity. News Corp.
BUSINESS
February 13, 2009 | Meg James and Dawn C. Chmielewski
Rupert Murdoch has returned from Australia, where he celebrated his mother's 100th birthday. Now the mogul faces another important date. The contract for Murdoch's chief lieutenant, News Corp. President Peter Chernin, expires June 30, and the two executives have been locked in negotiations for months. They haven't struck a deal, and concern is mounting inside the company, and on Wall Street, that Chernin will not renew.
BUSINESS
November 6, 2008 | times wire services
News Corp. said its first-quarter net income fell 30% from a year earlier because of a large write-down and a drop in ad revenue at its TV stations. Net income at the company run by billionaire Rupert Murdoch fell to $515 million, or 20 cents a share. A year earlier, net income was $732 million, or 23 cents. Revenue rose 6.3% to $7.5 billion. Operating income fell 9% to $953 million, compared with $1.1 billion reported a year earlier. Analysts surveyed by Thomson Reuters expected first-quarter earnings per share to fall 2% to 23 cents on revenue of $7.7 billion, 8% higher than a year earlier.
BUSINESS
July 16, 2005 | From Reuters
News Corp. said it formed a new Internet division to create an online hub for its Fox news, sports and entertainment programming. Fox Interactive Media will house News Corp.'s sports, news and entertainment websites. Ross Levinsohn, senior vice president of Fox Sports Interactive Media, will be president of the Los Angeles-based division.
BUSINESS
June 17, 2008 | From the Associated Press
MySpace can collect $6 million from a notorious Internet marketer accused by the popular online hangout of spamming its users. An arbitrator has ruled that Scott Richter and his Web marketing company, Media Breakaway of Westminster, Colo., must pay MySpace $4.8 million in damages and $1.2 million in attorney's fees for barraging MySpace members with unsolicited advertisements. Media Breakaway and its employees were also banned from the site. MySpace, a unit of News Corp.
BUSINESS
April 5, 2008 | From Bloomberg News
News Corp.'s Fox Interactive Media said it would fall short of Chairman Rupert Murdoch's target for revenue of $1 billion this fiscal year and announced a reorganization of the unit designed to drive growth. "It wasn't one smoking gun. It was a series of things that were a little late to come to market," said Michael Barrett, who will step down as chief revenue officer at Fox Interactive after a two-month transition period.
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