June 6, 2001 |
General Motors Corp. Chief Executive G. Richard Wagoner said Tuesday that negotiations to combine its Hughes Electronics Corp. satellite unit with a division of media conglomerate News Corp. are a "top priority," but the auto maker would consider alternatives. GM's board approved formal talks a month ago with Rupert Murdoch's News Corp., which has coveted Hughes' DirecTV unit as a U.S.
October 12, 2001 |
News Corp. Chairman Rupert Murdoch said advertising sales exceeded expectations so far this month, suggesting the world's No. 5 media company may beat forecasts in its fiscal second quarter. The announcement, made during a shareholder meeting, came after the owner of Fox Entertainment Group Inc. last week slashed its forecast for fiscal 2002, saying last month's attacks in the U.S. may worsen a television advertising slump. Murdoch also told shareholders that News Corp.
October 30, 2001 |
After two decades of painstakingly piecing together a global satellite network, News Corp. Chairman Rupert Murdoch walked away from the last and most crucial piece of his dream: buying General Motors Corp.'s Hughes Electronics Corp. and its DirecTV unit. But the setback may simply mark a break in the action, not the conclusion of the game. For starters, significant federal regulatory hurdles remain for Murdoch rival EchoStar Communications Corp., whose $26.
October 27, 2001 |
No matter which company wins the yearlong takeover battle for Hughes Electronics Corp., the delay in making a deal will have cost shareholders billions of dollars. Analysts, investors and people involved in the deal say infighting, bureaucracy and indecision at Hughes parent General Motors Corp. are to blame. As the talks dragged on, the stock market value of Hughes, whose prized asset is satellite television provider DirecTV, has slipped to about $13.5 billion.
August 4, 2005 |
News Corp. Deputy Chief Operating Officer Lachlan Murdoch, who resigned last week, will receive a separation payment equal to his fiscal 2005 salary and bonus of as much as $7 million. Lachlan Murdoch, son of Chairman Rupert Murdoch, agreed to consult for the company for two years and not compete with it, New York-based News Corp. said Wednesday in a filing with the Securities and Exchange Commission. His resignation is effective Aug. 31.
August 11, 2005 |
Rupert Murdoch's News Corp. saw quarterly profit soar 67% on Wednesday on the strength of cable networks such as FX and Fox News Channel and a turnaround at its Sky Italia satellite TV service. Net income at the nation's fourth-largest media giant increased to $717 million, or 23 cents a share, in its fiscal fourth quarter ended June 30, up from $429 million, or 15 cents, a year earlier. Sales rose 11% to $6.1 billion. News Corp.
August 25, 2005 |
News Corp., the media company run by Rupert Murdoch, paid Chief Operating Officer Peter Chernin $31.6 million, or about 34% more than his boss, in the year ended June 30. Murdoch's compensation was $23.6 million, New York-based News Corp. said Wednesday in a filing with the Securities and Exchange Commission. Chernin's pay soared from $17.6 million in 2004 as his bonus jumped to $18.9 million from $8 million under an employment agreement that took effect in August 2004.
December 8, 2005 |
News Corp. is developing software to help it sell display advertising on the Internet. The company plans to boost sales by using a "treasure trove" of information on millions of teenagers and young adults gleaned from websites such as MySpace.com, News Corp. President Peter Chernin said at an investor conference. The New York-based company can use the data to sell ads targeting specific audiences sought by advertisers, Chernin said.
March 4, 2005 |
News Corp., the media company controlled by Rupert Murdoch, boosted its offer for full ownership of Fox Entertainment Group Inc. by 7% to $6 billion. A committee of Fox directors recommended the higher offer, and shareholders that sued to block the purchase agreed to a settlement, New York-based News Corp. said. Murdoch offered 2.04 News Corp. Class A non-voting shares for each Fox Class A share, up from Murdoch's Jan. 10 offer of 1.9 shares.