July 8, 2013 |
Rupert Murdoch's 21st Century Fox has realigned a big chunk of its television empire, bringing its syndication and distribution business under the control of two respected Fox executives, Dana Walden and Gary Newman. Walden and Newman have jointly run the company's profitable television production studio, Twentieth Century Fox Television, for more than a decade. The studio is home to such network hits as "Modern Family," "Family Guy," "The Simpsons," "Glee" and "Homeland. " As part of the realignment, the arm that sells television shows, known as Twentieth Television, moves over to become a division of the Los Angeles-based production studio.
July 6, 2013 |
Scotland Yard detectives are interested in a surreptitious recording of Rupert Murdoch, according to the Guardian newspaper of London. In the recording, News Corp.'s chairman seemed to suggest that bribing public officials was part of "the culture of Fleet Street. " On Saturday, the Guardian said a detective with Scotland Yard had requested the tape, which was secretly recorded in March when the 82-year-old News Corp. chairman visited staff members of The Sun in London. During the meeting, Murdoch disparaged police officers and their handling of the two-plus-year phone hacking probe.
July 1, 2013 |
On the first day of trading as separate companies, Rupert Murdoch's television and movie empire, 21st Century Fox, gained nearly 2% while the publishing company ended the day down 5%. Still, the publishing entity, which took the name News Corp., largely held its own with investors. Murdoch last year agreed to break his media empire News Corp. in two pieces in large part to free the entertainment businesses from the drag of the newspapers, which have declined in profitability.
June 28, 2013 |
Rupert Murdoch's sprawling, $75-billion global empire has broken into two separate companies: 21st Century Fox and a much smaller News Corp. Friday afternoon, just after the close of trading, the company finalized the transaction that had been in the works for more than a year. Beginning Monday, shares of the two companies, both controlled by Murdoch and his family, will trade separately on the NASDAQ stock exchange. The 82-year-old media baron has spent the last 60 years building an enormous empire from a single newspaper in his native Australia.
June 25, 2013 |
Rupert Murdoch wants his newspapers lean and mean for their roll-out on Wall Street. On Friday, Murdoch will have completed the breakup of his media empire. One company - News Corp. - will consist of Murdoch's newspapers, including the Wall Street Journal, HarperCollins book publishing, Amplify, an educational materials company and some Australian TV operations. The other company - 21st Century Fox - will consist of the 20th Century Fox film and television studios, Fox Broadcasting, FX Networks, Fox Sports and the Fox News Channel. PHOTOS: Cable versus broadcast ratings While investors are excited about 21st Century Fox, whose assets are seen has having the best growth potential, there is concern about News Corp.
June 20, 2013 |
Selling the online video site Hulu to satellite broadcaster DirecTV or another pay-TV distributor would be a big mistake, said analyst and provocateur Rich Greenfield of BTIG. Owned by media giants News Corp. , Walt Disney Co. and Comcast Corp. , Hulu has been fielding offers from suitors including DirecTV, Time Warner Cable, Yahoo and the Chernin Group. Private equity firms Silver Lake Management and KKR & Co. have also placed bids. Greenfield warns that it would be a mistake for the owners to focus solely on how much they can get for Hulu without considering who is buying and the long-term implications.
June 17, 2013 |
A battle-tested veteran of News Corp.'s general counsel's office will take on additional duties following the corporate spinoff set for June 28. The company announced Monday that Janet Nova, deputy general counsel, will become executive vice president and deputy group general counsel for 21st Century Fox. She will help manage day-to-day operations of one of the nation's busiest corporate legal offices. Nova, who has been a key member of News Corp.'s legal team since 1997, will oversee legal aspects of Fox's acquisition strategy, capital markets transactions and Securities & Exchange Commission filings.
June 14, 2013 |
Octogenarian media mogul Rupert Murdoch began his rise to global power and riches when, at 21, he inherited his father's newspaper business in Australia. Under his tough hide, Murdoch has had a soft spot in his heart for newspapers ever since, which is why he is splitting off the publishing side of his empire from the entertainment side. At Murdoch's urging, News Corp shareholders have approved the division. Remaining under the News Corp umbrella will be 120 newspapers, including the Wall Street Journal, the New York Post, The Times of London and the Australian, plus HarperCollins book publishers.
June 14, 2013 |
Rupert Murdoch's divorce from his third wife is likely to test the strength of his prenuptial agreement but not the control of his sprawling media empire. On Thursday, Murdoch filed for divorce from Wendi Deng Murdoch - just two weeks before the media baron is scheduled to divide his global media empire into two companies. News Corp. said the divorce would not affect operations or control of his company. The 82-year-old media titan filed the petition in state court in New York, where the Murdochs maintain their primary residence and where their two preteen daughters attend school.