Amazon to buy MGM for $US6.5 billion, excluding debt

Original article by Joe Flint, Dave Sebastian
The Wall Street Journal – Page: Online : 27-May-21

Electronic commerce giant Amazon.com has struck a deal to acquire Hollywood film studio MGM. The deal will bolster Amazon’s subscription video-on-demand service as competition in the streaming market intensifies. MGM’s library of more than 4,000 films includes franchises such as James Bond, while the studio also produces television shows such as The Handmaid’s Tale. There is also scope for Amazon to create spin-offs from MGM’s popular franchises, a strategy used by rival streaming services. Amazon will pay $US6.5bn for MGM, or $US8.45bn including debt.

CORPORATES
AMAZON.COM INCORPORATED, AMAZON PRIME VIDEO, METRO-GOLDWYN-MAYER INCORPORATED

Netflix growth slows as economies reopen

Original article by Micah Maidenberg
The Australian – Page: 19 : 22-Apr-21

Subscription video-on-demand giant Netflix has posted a profit of $US1.71bn for the March quarter, compared with $US542.2m for the same period in 2020. Revenue rose from $US6.64bn previously to $US7.16bn, but Netflix added just four million new subscribers globally. This is well below the 15.8 million new subscribers it gained in the March 2020 quarter, amid the onset of the COVID-19 pandemic. The easing of lockdown restrictions and growing competition from rival SVODs services are among the challenges facing Netflix.

CORPORATES
NETFLIX INCORPORATED

Are the Murdochs preparing to unleash Fox News on Australia?

Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 12-Apr-21

Revelations that Fox Media LLC has sought to register the Fox News International trademark in Australia has prompted speculation that the Murdoch family will add content from US cable channel Fox News to its local streaming services. The Fox News International streaming app is now available in 30 countries, following its launch in Mexico in August. Fox News is currently broadcast on Foxtel, but making it available via streaming would increase its local reach. News Corp is said to be planning to launch a news-focused streaming service called NewsFlash later in 2021.

CORPORATES
FOX CORPORATION, FOX MEDIA LLC, FOX NEWS INTERNATIONAL, FOX NEWS CHANNEL, FOXTEL MANAGEMENT PTY LTD, NEWS CORPORATION – ASX NWS

News Corp to raise $1b as it looks at potential buying spree

Original article by Zoe Samios
The Age – Page: Online : 9-Apr-21

Media giant News Corporation has flagged the potential for acquisitions after announcing plans to raise $US750 million ($985 million) via the issuance of senior notes. It has advised the New York stock exchange that the proceeds of the debt raising will be used for ‘general corporate purposes’, which could include acquisitions and working capital. News Corp has struck several deals in recent weeks, including the acquisition of Investor’s Business Daily.

CORPORATES
NEWS CORPORATION – ASX NWS

Media at ‘pivotal moment’: News

Original article by James Madden
The Weekend Australian – Page: 21 & 22 : 8-Feb-21

News Corporation has posted net income of $US261m ($343.4m) for the December 2020 quarter, compared with $US103m for the same period in 2019. The global media company’s EBITDA rose 40 per cent year-on-year to $US497m. Revenue fell three per cent to $US2.41bn year-on-year, although it rose from $US2.12bn in the September quarter. News Corp’s subscription video services rose by 77 per cent to $US124m. News Corp CEO Robert Thomson says the push for greater regulation of digital platforms in Australia and worldwide represents a pivotal moment for the global media industry.

CORPORATES
NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD

Murdoch son raps media for toxic politics

Original article by Alex Barker
The Australian Financial Review – Page: 24 : 18-Jan-21

James Murdoch has launched his strongest attack on the US media since leaving the family media company started by his father Rupert. When asked if Fox News had played a role in the attack on the US Capitol on 6 January, James Murdoch claimed that media organisations had amplified election disinformation, resulting in a significant part of the US public believing in a "falsehood". He did not make specific reference to Fox News, his father, or his brother Lachlan, who is the CEO of Fox Corporation.

CORPORATES
FOX NEWS, FOX CORPORATION

Life on the outside

Original article by Maureen Dowd
The Australian Financial Review – Page: 1, 6 & 7 : 16-Oct-20

James Murdoch quit the board of News Corporation in June, having at one point of time hoped to lead the media company. Murdoch cited differences in certain content published by some of its news outlets, along with some other strategic decisions, as his reason for leaving at the time. He has established a company called Lupa Systems, while his investments include a comic company whose publisher once worked for Marvel. Murdoch says he decided to leave News Corp because he believed he could be "more effective outside" the company, while friend Matthew Vaughn believes that Murdoch will now start his own empire.

CORPORATES
NEWS CORPORATION – ASX NWS, LUPA SYSTEMS

Could Disney’s wish upon a Star be coming here?

Original article by Max Mason
The Australian Financial Review – Page: 30 : 10-Aug-20

Walt Disney Company has yet to disclose whether its new subscription video-on-demand service will be launched in Australia. Disney has chosen the Star brand for the streaming service, which will be launched in non-US markets. It had been widely tipped to launch Hulu internationally, but Disney CEO Bob Chapek notes that Hulu has limited brand awareness outside the US. Star will complement the existing Disney+ streaming service, and will feature general entertainment content from Disney subsidiaries such as ABC Studios, Fox Television and 20th Century Studios.

CORPORATES
WALT DISNEY COMPANY, DISNEY+, ABC STUDIOS, FOX TELEVISION STATIONS INCORPORATED, 20TH CENTURY STUDIOS INCORPORATED

News Corp’s advertising revenue falls over 50% in fourth quarter, as company posts US$1.5bn loss

Original article by Vivienne Kelly
Mumbrella – Page: Online : 10-Aug-20

News Corporation has posted a loss of $US401m for the June quarter, compared with a loss of just $42m for the previous corresponding period. Its loss for the year to 30 June totalled $US1.545bn, following a profit of $US228m for the previous year. Advertising revenue fell 51.6 per cent in the quarter and 19.9 per cent for the year, and news media revenue was down 41 per cent in the quarter and 18 per cent for the year. The financial results for Dow Jones have been disclosed separately for the first time; the publisher of ‘The Wall Street Journal’ has posted lower revenue for the quarter, but full-year revenue rose by three per cent to $US1.6n. In Australia, the subscriber base of Foxtel – including the Kayo and Binge streaming services – fell 12 per cent to 2.777 million in 2019-20.

CORPORATES
NEWS CORPORATION – ASX NWS

US keeps eye on Australia’s big tech rules

Original article by Jacob Greber
The Australian Financial Review – Page: 10 : 23-Apr-20

The US media industry has welcomed the Australian government’s move to require technology companies to pay news publishers for their content. Digital Content Next CEO Jason Kint says the mandatory code of conduct shows that the government recognises the significance of the problem and its impact on traditional media companies. News Media Alliance CEO David Chavern adds that there is growing concern across the political spectrum regarding the impact of digital platforms. The US Congress is also monitoring efforts in Australia and elsewhere to reign in the digital giants.

CORPORATES
DIGITAL CONTENT NEXT, NEWS MEDIA ALLIANCE, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION