News Corp profit falls as company hit by sluggish Australian economy

Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 7-Feb-20

News Corporation has released its financial results for the three months to December, reporting a profit of $US103 million ($153.1 million). This compares to a profit of $US119 million in the prior year period, while revenue was down six per cent to $US2.48 billion, with the Rupert Murdoch-controlled company blaming the torpid Australian economy for the decline. Revenue for news and information services fell $16 million, with the Australian market down nine per cent. Subscriber numbers for Foxtel, which includes streaming services Foxtel Now and Kayo, declined from 3.065 million at the end of the September quarter to 2.95 million at the end of the December quarter.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, FOXTEL NOW, KAYO SPORTS

Weathering the storm: inside the Murdoch family climate schism

Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 17-Jan-20

Media mogul Rupert Murdoch announced in late 2006 that News Corporation had a responsibility to ‘take the lead’ with regard to climate change. Murdoch subsequently revealed a number of initiatives aimed at reducing his media empire’s carbon footprint, including the ‘CoolChange’ program, which was known as ‘1Degree’ in Australia. Murdoch’s stance on climate change came as a surprise to many observers, given that he had traditionally been a climate change sceptic. News Corp’s stance on climate change is attracting renewed scrutiny amid criticism of its newspapers’ coverage of the bushfires crisis.

CORPORATES
NEWS CORPORATION – ASX NWS,{SPAC}NEWS CORP AUSTRALIA PTY LTD

Disney bets billions on content for streaming battle with Netflix

Original article by Max Mason
The Australian Financial Review – Page: 23 : 13-Nov-19

The Disney+ subscription video-on-demand service will be launched in Australia on 19 November, following its US debut. Walt Disney Company has revealed plans to invest $US1bn in original content for the new streaming service in 2019, which will increase to $US2.5bn ($3.65bn) by 2024. The media giant forecasts that Disney+ will boast between 60 million and 90 million paid subscribers by fiscal 2024. Netflix is investing some $US15bn on original content during 2019.

CORPORATES
WALT DISNEY COMPANY, DISNEY+, NETFLIX INCORPORATED, 21ST CENTURY FOX INCORPORATED

Murdochs agree to cap on Fox voting power

Original article by Max Mason
The Australian Financial Review – Page: 21 : 8-Nov-19

The Murdoch Family Trust has agreed to limit its voting rights in the new Fox Corporation to 44 per cent, with the cap to apply in perpetuity or until the Murdochs sell out of the company. The limit will help to facilitate $US2 billion ($2.9 billion) worth of share buybacks that Fox announced as part of its latest quarterly results. The buyback will include a mix of Class A and Class B Fox shares, with Fox’s independent directors keen to increase the liquidity of its Class B shares.

CORPORATES
MURDOCH FAMILY TRUST, FOX CORPORATION

Disney+ to launch in Australia

Original article by Max Mason
The Australian Financial Review – Page: 3 : 20-Aug-19

US media giant Walt Disney Company has confirmed the Australian launch date and pricing for its video streaming service. Disney+ will cost $8.99 per month or $89.99 a year when it is launched in Australia on 19 November. Australia and New Zealand will be among the first markets in the world to gain access to Disney+, which will be launched in the US, Canada and the Netherlands on 12 November. Disney+ will include content from the Pixar, Marvel and Star Wars franchises.

CORPORATES
WALT DISNEY COMPANY, DISNEY+, FOXTEL MANAGEMENT PTY LTD, STAN ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, HULU LLC

Is Netflix falling out of favour? US viewers are shunning the streaming platform

Original article by Zona Black
The New Daily – Page: Online : 19-Jul-19

Subscription video-on-demand giant Netflix had forecast that it would add 300,000 new US customers in the June 2019 quarter, but the number of subscribers fell by 130,000. The decline coincided with an increase in Netflix’s monthly fee, although it is also facing growing competition in the streaming video market. However, Netflix expects US subscriber numbers to rebound on the back of new content. Netflix had some 11 million paid subscribers in Australia in February, according to research by Roy Morgan, with year-on-year growth of 25.2 per cent.

CORPORATES
NETFLIX INCORPORATED, ROY MORGAN LIMITED

Disney in Comcast deal to take control of hot property Hulu

Original article by Joe Flint
The Australian – Page: 21 : 16-May-19

US media group Comcast has struck a deal to sell its one-third stake in streaming video service Hulu to Walt Disney Company. The deal could allow Disney to assume full ownership of Hulu in 2024. Hulu boasted more than 25 million subscribers in 2018, compared with just six million in 2014, and Disney has forecast that Hulu’s domestic operations will become profitable in fiscal 2023 or 2024. Disney plans to launch its own streaming service, which expected to target a different audience to Hulu.

CORPORATES
HULU LLC, WALT DISNEY COMPANY, COMCAST CORPORATION, NETFLIX INCORPORATED, 21ST CENTURY FOX INCORPORATED

Netflix subscribers on rise, but growth slows at home

Original article by Joe Flint, Micah Maidenberg
The Australian – Page: 21 : 18-Apr-19

US-based subscription video-on-demand giant Netflix boasted 148.9 million paying subscribers worldwide at the end of March, exceeding its own forecast of 148.2 million. However, Netflix added just 1.7 million new customers in the US during the March quarter, compared with overall customer growth of 9.6 million. Netflix has forecast that subscriber numbers will grow by five million in the June quarter, including 300,000 in the US. Netflix is facing growing competition from rival streaming services.

CORPORATES
NETFLIX INCORPORATED, WALT DISNEY COMPANY, AT&T CORPORATION, HBO, APPLE INCORPORATED, CBS CORPORATION, SHOWTIME, WARNERMEDIA, COMCAST CORPORATION, NBC UNIVERSAL INCORPORATED

Lachlan could reunite Murdoch family empire

Original article by Max Mason
The Australian Financial Review – Page: 30 : 25-Mar-19

Lachlan Murdoch has taken over as CEO of Fox Corporation, while he remains co-chairman of News Corporation. There is speculation that he may seek to re-combine the two Murdoch family businesses, but any action on this front would be unlikely to occur for at least another two years. Like his father Rupert, Lachlan Murdoch is regarded as being passionate about publishing; he began his involvement with News Corp at the age of 16 when he cleaned printing presses in Queensland.

CORPORATES
NEWS CORPORATION – ASX NWS, FOX CORPORATION, REA GROUP LIMITED – ASX REA, WALT DISNEY COMPANY, 21ST CENTURY FOX INCORPORATED

Digital market abuse almost limitless: News

Original article by Andrew White
The Australian – Page: 27 : 9-Feb-19

News Corporation has posted revenue of $US2.63bn ($3.7bn) for the December 2018 quarter, an increase of 21 per cent. EBITDA rose by 13 per cent to $US370m following the merger of Foxtel and Fox Sports, while the media group’s net profit of $US119m compares with a loss of $US66m for the same period in 2017. Meanwhile, News Corp CEO Robert Thomson has criticised the growing dominance of digital platforms in the US audiobooks market. He has called for a "regulatory reckoning" to address the issue.

CORPORATES
NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, AMAZON.COM INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, HARPERCOLLINS, DOW JONES AND COMPANY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION