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Posts Tagged ‘Chase Carey’

Chase Carey is a Busy Cowboy

(Via Businessweek)

It’s been well documented that Chase Carey, the right hand man to Rupert Murdoch, holds quite a bit of power at News Corporation. Murdoch has a lot of trust in Carey, at one point saying, “Chase is my partner and if anything happened to me, I’m sure he’ll get it immediately.”

As News Corp. wades its way through the murky waters of the phone hacking scandal, Carey’s role has grown larger than ever, so we’re all getting some insight into what the man is truly like.

Helping us all out is the new New York Times profile, which sheds plenty of light on the COO. Below are some highlights.

  • Carey really, really likes sports. He once played rugby and is a “die-hard Yankees and Giants fan.”
  • His diet could use some work. “He regularly orders a hamburger and fries during power lunches in News Corporation’s third-floor executive dining room and rides a packed commuter train home to the Connecticut suburbs, often popping a can of Budweiser on the way…”

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News Corp.: James Murdoch is Fantastic

(Via ABC News)

Yesterday News Corp. reported that its profits have fallen to $738 million, down from $775 million last year. However, that news was immediately shrugged off by investors, because the company’s total revenue was $8 billion, an increase of about seven percent.

More importantly was the announcement by Chase Carey, News Corp.’s COO, that James Murdoch is an all-around good guy. Forbes has an account of the exchange:

Chase Carey, News Corp.’s COO and the man who would most likely succeed Rupert Murdoch as CEO if a successor were needed today, was asked point blank whether any change in James Murdoch’s status is being discussed… ‘We have great confidence in James,’ responded Carey. ‘James has done a good job. We are not contemplating any changes.’

There you have it. Yes, this might just be Carey buying time to let the controversy dissipate before Murdoch steps down “for personal reasons,” but maybe it’s not. Maybe James isn’t going anywhere, even if a lot of people really want him to.

News Corp. Considering an All ‘Simpsons’ Channel

Even though “The Simpsons” stopped being funny about 37 seasons ago, it’s still a huge money maker for News Corporation. Naturally, the company is looking into ways to exploit that. One such idea is an all Simpsons channel, said News Corp.’s Chief Operating Officer, Chase Carey.

According to The Los Angeles Times, while addressing industry bigwigs at a conference in California, Carey brought up the idea:

Carey said there have been a ‘number of meetings’ to determine how to capitalize on its library of episodes of ‘The Simpsons’ and he mentioned a digital channel featuring nothing but Homer and the gang as being a possibility.

Yesterday Carey spoke about it again, reports Forbes. “The point I was making, which I will reemphasize, is that this is a unique franchise… and it provides us a unique opportunity to do some interesting things with it,” said Carey.

Unless they can somehow make it funny again, we’re not sold. But hey, maybe this is just a smoke screen. Maybe talking about a channel filled with nothing but the zany antics of a yellow family with a lazy dad is enough to make people forget about the more pressing matters at hand.

Are The Simpsons Getting Their Own TV Channel?

News Corp. chief operating officer Chase Carey tossed out an idea Tuesday at the Bank of America Merrill Lynch Media Communications & Entertainment Conference in Beverly Hills — a television channel devoted to just The Simpsons.

With the show entering its 23rd season starting on Sept. 25, Carey and Fox are brainstorming ideas on how to generate additional revenue for the Matt Groening cartoon.

One of those ideas is a channel that features nothing but The Simpsons, which airs their 500th episode later this season.

Even if this longshot idea comes to fruition, fans of Homer, Marge, Lisa, Bart and Maggie will have to wait until the show ends on Fox as current syndication rerun deals would prevent the launch of the channel.

D’oh!

Huge Bonuses Show It’s Still Good to Be Part of News Corp.

Even though News Corp. is fighting off the pesky phone hacking scandal, Rupert Murdoch and friends (that sounds like a bad Saturday morning cartoon) are still making bank. According to The Guardian, Murdoch got a $12.5 million bonus for this past fiscal year, boosting his total pay up 47 percent to $33 million. The rest of the company’s leadership did well too.

James Murdoch might be skating on thin ice, but that ice is made out of $100 bills. Yeah, that doesn’t really make any sense, but c’mon, it’s the Friday before a holiday. James received a $6 million cash bonus taking his total to about $18 million — a 74 percent increase.

Chase Carey had a good year as well, taking in a $10 million bonus for a total of $30 million. Then there’s Roger Ailes, the mastermind of Fox News. He only got a $1.5m bonus, bringing his pay up to $15.5 million.

Not bad for a company that’s supposedly facing some tough times, right?

UPDATE:
James has reportedly just turned down his bonus because of the phone hacking scandal.

Rupert Murdoch Endorses Chase Carey as Successor

When we learned that Rupert Murdoch would be participating in News Corp.’s earnings call yesterday, we figured the question of who would take the reins of the company would come up. It did, and here is what Murdoch replied, according to Reuters: “Chase is my partner and if anything happened to me I’m sure he’ll get it immediately.”

This is obviously a big change from what had been planned before the phone hacking scandal. James Murdoch was widely believed to be next in line for News Corp., but his name has taken a hit since the scandal broke, and he’s also been accused of lying to Parliament during his testimony. Of course Murdoch said that he had “full confidence” in his son, but Chase Carey is officially now the man.

Murdoch has to deal with a pissed off son, but at least he has some reason to smile – News Corp. posted a profit of $982 million, which is $80 million more than last year.

And we thought this scandal was going to be a big deal.

Rupert Murdoch to Participate in News Corp. Quarterly Call

Well, this should be fun. Reuters is reporting that Rupert Murdoch is going to be participating in News Corporation’s quarterly earnings call. Murdoch is going to field questions from both analysts and members of the press during the call, and you can expect that most of the inquiries will be about the phone hacking scandal.

There will also probably be some questions about who is going to take over for Murdoch and when that will be.

Here are some things that Murdoch is likely to hear:

  • Did you hack my conversation with my friend Dave this morning?
  • Are you sure you didn’t hack my conversation with my friend Dave this morning?
  • Is Chase Carey going to succeed you?
  • When will Carey succeed you – like tomorrow?
  • I didn’t mean what I said about Dave.

News Corp. Dropping BSkyB Bid

That sound you  just heard was Rupert Murdoch reluctantly and angrily slamming the door on the BSkyB bid. We guessed yesterday that News Corp.’s plan to take complete control over British Sky Broadcasting was toast, and now it’s official. BSkyB reports, “News Corporation announces that it no longer intends to make an offer for the entire issued and to be issued share capital of British Sky Broadcasting Group PLC (“BSkyB”) not already owned by it.”

Chase Carey, News Corp.’s Deputy Chairman, said of the big news, “We believed that the proposed acquisition of BSkyB by News Corporation would benefit both companies, but it has become clear that it is too difficult to progress in this climate.”

Yeah, things tend to get a little sticky when vast corruption is rumored to be present in virtually every media unit owned by your company. Makes deals and such a little difficult. FishbowlNY suggests using sticky notes with the following written on them: “Corruption = Bad for business. No corruption = Good for business.”

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The Daily Lost $10 Million in the First Quarter

According to WWDChase Carey, Chief Operating Officer of News Corporation, said that The Daily lost $10 million in the first quarter. Because that’s such a huge number, we thought we’d put it into perspective for you, with a tiny list of items you could purchase for $10 million. Enjoy.

Things You Could Buy With The Money The Daily Lost In One Quarter
An Official FishbowlNY Chart

  1. 166,165 pairs of J. Crew Broken-in Chino Pants
  2. 133,333 back waxings from Frederic Fekkai’s Salon on Fifth Avenue
  3. 588,235 regular pies from Not Ray’s Pizza in Brooklyn
  4. Four Park Slope brownstones
  5. 6,666,665 hotdogs from Gray’s Papaya

 

Murdoch’s Successor May Be Determined by Timing

As everyone knows, Rupert Murdoch isn’t a spring chicken anymore. In fact, at 80 years old, he’s more like a winter rooster. So eventually the time will come when he has to name a successor to his News Corporation empire.

Most expect that person to be Murdoch’s son, James, who got everyone talking when he was promoted in late March. CNBC, however, has a different theory: If Murdoch steps down soon, Chief Operating Officer Chase Carey might takeover:

He [Carey] knows the company well, has worked with Murdoch closely, and he has the corporate experience, both at DirecTV, where he was CEO, and at News Corp, to run this kind of public company.

The great respect for Carey as an executive and operator provides even more reassurance to Wall Street that there will be consistency atop News Corp after Murdoch’s departure.

It’s an interesting idea, and one that makes plenty of sense, aside from one thing: Murdoch isn’t bothering with bringing all the family closer together than ever for nothing. If Murdoch needs to prolong his retirement to make sure James knows the ropes, he will. Much like the rooster, Rupert looks out for his flock.

 

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