December 31, 2009 |
With only hours to go until their current contract expires, News Corp. and Time Warner Cable Inc. were still trying to hammer out a new deal for the cable system operator to carry News Corp.'s Fox TV stations and several of its cable networks. The likelihood of a new accord before today's midnight deadline appeared to be quickly diminishing, and the possibility was increasing that millions of Time Warner subscribers could see Fox shows disappear from their TV screens. On Wednesday, News Corp.
December 30, 2009 |
Don't panic if you're watching Fox's New Year's Eve special and the screen goes black moments before host Carmen Electra finishes screaming "Happy New Year." There's nothing wrong with your TV. You're just caught in a brawl between two media giants. At issue are the fees that News Corp., Rupert Murdoch's sprawling media empire, is demanding that Time Warner Cable pay for transmitting its Fox stations -- including KTTV-TV Channel 11 and KCOP-TV Channel 13 in Los Angeles -- as well as cable networks such as FX, Fox Sports West and Prime Ticket.
November 5, 2009 |
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.
August 22, 2009 |
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.
August 21, 2009 |
As newspapers across the country struggle with declining readership and advertising revenue, News Corp. executives have been meeting in recent weeks with publishers about forming a consortium that would charge for news distributed online and on portable devices -- and potentially stem the rising tide of red ink. Chief Digital Officer Jonathan Miller has positioned News Corp. as a logical leader in the effort to start collecting fees from online readers because of its success with the Wall Street Journal Online, which boasts more than 1 million paying subscribers.
August 6, 2009 |
After spending a little more than $1.5 billion on Internet assets over the last four years, News Corp. acknowledged Wednesday that they had lost nearly one-third of their value. The conglomerate's $452-million impairment charge for its Fox Interactive Media unit, which includes the MySpace social networking site, was the biggest piece of bad news for the fiscal fourth quarter ended June 30, during which revenue fell 11% to $7.7 billion and the company swung to a $203-million loss from $1.