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Posts Tagged ‘News Corporation’

Rupert Murdoch to Get $28 Million When News Corp. Splits

Rupert Murdoch is going to become an even richer man than he already he is when News Corp. finally splits. According to Bloomberg, Murdoch will be paid $28 million in total compensation when 21st Century Fox and New News Corp. begin their reign.

To make matters even sweeter for Murdoch, the payment is better than last year’s, when he raked in $24 million. The man is doing well. So what’s on Murdoch’s mind lately? Oh, the usual. Bashing The New York Times:

 

Disney Tops Media Company Revenue List

Disney is the top dog (or mouse, if you want to be dumb/cute about things). SNL Kagan released its annual list which ranks media companies by analyzing revenue and profitability, and The Walt Disney Company takes the number one spot. According to Mediapost, the company had $42.3 billion in revenue last year. Not bad, considering the people who work at Disney thought Taylor Kitsch was a great actor.

Here’s the top five media companies, ranked by 2012 revenue:

1) Disney ($42.3 billion)
2) News Corp. ($33.7 billion)
3) Omnicom Group ($14.2)
4) CBS ($14.1)
5) Viacom ($13.9)

News Corp. Sells Videogame/Entertainment Sites for Less Than $100 Million

In 2005, News Corporation bought IGN Entertainment — which operates IGN.com and Askmen.com, among others — for $650 million. Today, after months of trying to fetch a good bid for the sites, News Corp. settled for the best offer it could get. According to Bloomberg News, News Corp. sold IGN to Ziff Davis Inc. for less than $100 million. That has got to hurt.

For Ziff Davis (which already owns sites like PCMag.com and Geek.com) the deal gives it a chance to expand the company’s influence among males, its main target audience.

“IGN and AskMen are tremendous best-in-class brands that we are proud to have as part of our digital media portfolio,” said Vivek Shah, CEO of Ziff Davis, in a statement.

 

News Corporation Names Two Execs to Publishing Arm

News Corporation has added Anoushka Healy and William Lewis to its publishing arm that has been nicknamed “PubCo.” Healy has been named chief strategy officer. She was most recently group managing editor of The Times and Sunday Times.

Lewis has been tapped as chief creative officer for PubCo. He is an executive member of News Corp.’s Management and Standards Committee, and he will retain that role.

“Will and Anoushka will be at the very heart of the new company, expanding our digital and global reach and building new businesses,” said Robert Thomson, CEO of PubCo, in a statement. “Anoushka is a fully certified organizational genius and master of motivation. Will has an innate understanding of audiences and how their needs are changing. He is as diligent as he is digital.”

Publishing Arm of News Corp. Being Called ‘PubCo’

Every new(ish) company needs a handy nickname, right? Well, not really. But they happen anyway. We now know that the publishing arm of News Corporation, which is in the process of being split from the company’s entertainment brands, has — at least internally — a new way to refer to itself. Ladies and gentlemen, meet “PubCo.”

Ashley Huston, most recently the head of communications for Dow Jones Company and The Wall Street Journal, sent out a memo announcing her new role as “communications/PR for the new News Corporation (aka PubCo).”

Like it or not, PubCo it is. Below is Huston’s full memo.

Read more

Media Stocks Outperform Other Industries in 2012

We know that you come to FishbowlNY for investing advice, so please heed our words for next year: Buy low, sell high and never, ever, login to your Scottrade account after three scotches. With those 2013 pearls of wisdom aside, let’s take a look at how media stocks did this year.

MediaPost reports that the media industry did quite well. The Dow Jones U.S. Broadcasting and Entertainment Index was up 40 percent compared to last year, as a number of media companies saw gains. By comparison, the Dow Jones Industry Index was up only 6.7 percent.

Comcast, Time Warner and News Corp. all saw improvements over 2011, with jumps of 54, 52 and 47 percent, respectively.

News Corp. Buys Cleveland Sports Channel for $230 Million

We first heard about News Corp. purchasing SportsTime Ohio early this month, and now the deal is officially done. According to Reuters, News Corp. bought the regional sports network for about $230 million.

The network broadcasts Cleveland Indians and Cleveland Browns games, as well as local college and high school sports.

As part of a separate deal, News Corp. is going to pay the Indians $40 million per season for the next 10 seasons for the rights to broadcast their games. That’s a lot of money for a mediocre team. Sorry Clevelanders!

News Corp. Confirms Purchase of YES Network Stake

News Corporation just made the rumor that it was purchasing a stake in YES Network a fact. According to a press release from the company, the deal for News Corp. to acquire a 49 percent stake in YES will close by the end of the year.

As part of the deal (numbers were not disclosed) Yankee Global Enterprises, YES’s parent, Goldman Sachs, and others reduce their stake. After three years, News Corp. has the green light to purchase up to 80 percent of the network.  Also, buried in the same release, YES Network now owns the broadcast rights to Yankees games through 2042.

“This is a tremendous opportunity to enhance News Corporation’s industry-leading portfolio of sports properties, while also strategically re-entering the New York market,” said James Murdoch, News Corp.’s deputy COO, in a statement. “The YES Network represents the gold standard for regional sports networks and is a pioneer in sports media.”

“FOX wrote the book on regional sports networks, and we are excited to partner with FOX and take advantage of this opportunity to build upon our leadership position,” added Tracy Dolgin, YES Network’s president and CEO.

News Corp. to Purchase Stake in YES Network

News Corporation and the Yankees. Strange bedfellows? Perhaps, but according to The New York Times, they’re both about to snuggle up. News Corp. is said to be close to purchasing a stake in YES Network, which broadcasts the Bronx Bombers and Brooklyn Nets games.

Negotiations are still underway, but according to the Times, News Corp. would buy a stake in YES from the Yankees’ equity partners, and Yankees Global Enterprises — YES’ parent — would retain its 34 percent stake. No word on what the price tag will be, but YES has been valued at about $3 billion.

We were going to offer a funny remark about this deal, but we cannot top this comment on the Times’ report, from Tom S:

“No! This is terrible news, now we have to listen to A-Rod’s voicemail???”

Perfection.

Media Companies Donate to Hurricane Sandy Relief Efforts

Repeat after us: Giant companies aren’t always bad. Especially when they use some of their overflowing money stash’s for the greater good. News Corporation, Viacom, The Walt Disney Company and NBC Universal are doing their part, as they’ve all pledged donations to Hurricane Sandy relief efforts.

Rupert Murdoch got things going by pledging one million from News Corporation. “Newscorp giving $1million to help families in NY and NJ badly hurt by Sandy,” Murdoch tweeted. “Hope other companies will do same.”

Viacom is donating $1 million, half to the Mayor’s Fund for NYC and half to local organizations that are helping Connecticut, Long Island, New Jersey and Westchester County get back on their feet. Disney is also splitting its $2 million donation; half will go to the Red Cross and the other million to assorted charities.

NBC Universal is taking a slightly different route, as it plans to air a fundraising special Friday night at 8 p.m. Matt Lauer will host the program, which will feature performances by Jon Bon Jovi, Christina Aguilera, Bruce Springsteen, Billy Joel and Sting.

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