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Posts Tagged ‘Chase Carey’

Fox News Q3 Earnings See Highest-Ever Profits

News Corp. announced its third quarter earnings today, and one of its highlights was Fox News Channel, which CFO Dave DeVoe says generated its highest quarterly operating profit ever. Overall the News Corp. cable properties constituted over 60% of operating income for the company.

Perhaps most interesting: On the conference call with analysts and the press, COO Chase Carey says that FNC will renegotiate its carriage fees with “slightly over half” of its carriage universe by Summer 2012.

FNC is currently available in over 95 million homes, so it will have renegotiated deals covering more than 47.5 million homes by then. SNL Kagan estimated earlier this year that FNC receives $0.58 per subscriber per month, though the Kagan estimates can lag behind deals.FNC has been said to be seeking deals as high as $1.25 per sub.

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News Corp.’s Chase Carey Continues To Talk Fox News Carriage Fees: ‘We’ll take it to another level’

At an investor conference in Florida yesterday, News Corp. COO Chase Carey continued to talk about Fox News Channel’s carriage fee negotiations. Carey has made it clear over the last few months that FNC believes it is in a league of its own in terms of value, with only the sports networks like ESPN more valuable.

“We’re not shy about being aggressive and asking enough,” Carey said. “We expect there should be a significant increase in the value of Fox News. We’re not asking what ESPN is asking, or anything close, but we’ll take it to another level.”

ESPN currently receieves $4.08 per subscriber per month, according to SNL Kagan, while FNC receives an average of $0.58 per month. The SNL Kagan numbers can often lag behind the actual average, however.

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Fox News Channel Inks New Carriage Agreement With Cablevision

First on TVNewser: Fox News Channel and Cablevision have inked a new, multi-year carriage agreement. The deal ensures that the news channel will remain in the cable company’s nearly three-million homes around the New York metropolitan area for the foreseeable future.

The terms of the deal were not disclosed, but on earnings calls over the last few quarters News Corp. COO Chase Carey has said he expects to maximize affiliate fees for FNC, comparing the network to ESPN in terms of whether it is a “must-carry” channel.

“We are pleased to have worked with Cablevision to reach a fair agreement that allows us to continue our partnership providing FOX News Channel programming to Cablevision customers,” said Tim Carry, vice president of affiliate relations for FNC, in a statement

The network was believed to be seeking carriage fees as high as $1.25 per subscriber per month. SNL Kagan estimates that the channel currently receives an average of $0.58 per subscriber per month, though those figures are often on the conservative side.

More information in the release, after the jump.

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During Quarterly Earnings Calls, Fox News and CNN Get Received In Markedly Different Ways

Both Time Warner and News Corp. held their quarterly earnings calls yesterday, and the two signature news channels they own (CNN and Fox News Channel) were received in decidedly different ways.

Time Warner barely mentioned CNN during its call, though some comments from CFO John Martin may help explain why.

When discussing organic ad revenue growth, Martin said:

“domestic entertainment networks [TBS, TNT], together with kids and young adults [Cartoon Network, Adult Swim], grew advertising strong double digits in the quarter, and that was offset by mid-single-digit declines at domestic news [CNN].”

In other words, advertising is growing at a strong pace for Turner’s entertainment portfolio, but declining slightly at CNN.

Compare that to News Corp., which heaped praise upon Fox News during its call.

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As Fox News Channel Enters New Round of Carriage Negotiations, It Sets Its Sights on… ESPN?

Fox News has moved beyond CNN and MSNBC and has its sights set on a new target… ESPN.

Indeed, at the UBS Media and Communications Conference in New York today, News Corp. COO Chase Carey compared Fox News Channel to ESPN on a number of occasions, arguing that it is as much of a “must-carry” as the sports network.

Carey also confirmed that Fox News was entering into a new round of carriage negotiations with some cable operators. The network is believed to be seeking $1.25 per subscriber per month. At the moment it averages $0.58 per subscriber per month, according to SNL Kagan. Kagan tends to be conservative in its carriage estimates, so the most up-to-date numbers are likely higher.

Whether it gets that $1.25 figure remains to be seen, but Carey said that FNC was “as important a channel as exists” and that customers would switch to a different operator if it was not part of the lineup.

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Fox News Helps Drive News Corp. Earnings

rupertmurdoch080510.jpgThis afternoon News Corp. presented its fourth quarter earnings, with CEO Rupert Murdoch, COO Chase Carey and CFO Dave DeVoe taking questions from the financial community and reporters.

Fox News, along with the company’s regional sports networks and international cable channels drove much of the growth, with DeVoe saying that the company’s cable business now accounts for more than 50% of its total revenue.

Cable revenue was $563 million for the quarter, up $134 million compared to the fourth quarter last year.

On the earnings call Carey called FNC “a true juggernaut,” adding that the network was preparing to enter into a new round of negotiations with carriers.

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Ailes to Freud: He ‘Needs to See a Psychiatrist’

AilesMurdoch_1.14.jpgSunday’s front-page New York Times profile of FNC founder and chairman Roger Ailes continues to be dissected.

Following this story and this one from media reporters Lloyd Grove and Michael Wolff, speculating that Murdoch family members want Ailes out of Fox News, Ailes has responded to the LA Times. Additionally, News Corp. deputy chairman Chase Carey stands up for Ailes, saying, “News Corp. is 100% behind Roger Ailes — we hope and expect he will continue to lead Fox News well into the future.”

This was all touched off by this quote in the New York Times story from Matthew Freud, who is Rupert Murdoch‘s son-in-law.

Ailes tells The LA Times’ Joe Flint he’s sure he has met Freud but, “I couldn’t pick him out of a lineup … most people who have a problem at least walk up to me and talk to me about it.”

Ailes has communicated with Freud’s wife, Elisabeth Murdoch as well as James Murdoch. “There is nothing to the idea that I have any problem with the children,” says Ailes. “The entire Murdoch family has been nothing but supportive.”

Ailes joked that the U.K.-based public relations executive, who is a descendant of Sigmund Freud, “needs to see a psychiatrist.”

arrow_hp.jpgThis story appeared on the Morning Newsfeed. Click here to subscribe and get the morning’s media news in your inbox.

White House v. Fox News: Carey, Gardiner, Leno

At the B&C OnScreen Media Summit in Manhattan this morning, News Corp. COO and deputy chairman Chase Carey said of the Fox News/White House fight, “It’s probably been PR and marketing we couldn’t have bought.”

Meanwhile, Nile Gardiner, who often appears as a talking head on U.S. cable news channels, writes in the UK’s Daily Telegraph, “The White House’s extraordinary assault on the Fox News Channel will end in tears – and not for Rupert Murdoch.

Jay Leno even worked the fight into his monologue last night. Clip after the jump…

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