Rupert Murdoch says, "The worst is over." The News Corp. CEO, noting he has been uncharacteristically pessimistic on recent earnings calls, now says "the days of precipitous declines are over" and that "we are beginning to see a number of bright spots." For TVWeek's...
News Corp. Chairman and CEO Rupert Murdoch doesn’t think the economy will bounce back anytime soon. “I think the long-term situation is still very dangerous,” Mr. Murdoch said, responding to questions at the National Cable & Telecommunications Association’s Cable Show '09. “I don’t think anyone...
I've known Michael Wolff since the summer of 1998, when I was an editor at New York magazine. I took him out to lunch after I assigned one of my writers, Jim Surowiecki (now of The New Yorker), to profile Michael upon the publication of his early web-boom-and-bust memoir, "Burn Rate." It...
Peter Chernin will be stepping down as president and chief operating officer of News Corp. when his contract expires on June 30, News Corp. Chairman Rupert Murdoch announced this afternoon. The company said that News Corp.’s Los Angeles-based Fox businesses will report directly to Mr. Murdoch when Mr...
News Corp. President and Chief Operating Officer Peter Chernin is departing the company, a person with knowledge of the situation confirmed to TelevisionWeek today. Mr. Chernin has held his position at the company since 1996, and his current contract is due to expire at the end of June. Mr. Chernin joined...
Media companies just aren’t worth what they used to be. News Corp. and Time Warner last week both took billion-dollar writedowns against quarterly earnings as the economy lowered the value of some of their assets. The industry titans said the downturn was steeper than anticipated and the watchword going...
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Sun, Feb 8 2009
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Filed under: Broadcast, Cable, Advertising, Print Edition, Earnings, Scripps Networks, Time Warner, Jeff Bewkes, Rupert Murdoch, News Corp., Economy
Citing a weak economy and a deteriorating advertising market, News Corp. on Thursday said it expected its operating income to be down about 30% for this fiscal year. In November, News Corp.’s guidance to investors was that operating income would decline by a percentage in the low- to mid-teens. In August...
Roger Ailes, chairman and CEO of Fox News and chairman of Fox Television Stations, has signed a new five-year contract with parent company News Corp. Mr. Ailes will continue his duties overseeing Fox News, Fox Television Stations, Fox Business Network, MyNetworkTV and Twentieth Television under his new...
Fox Broadcasting parent News Corp. said today that its fiscal first-quarter earnings fell 30% as a drop in profit from its broadcast and local television operations more than offset a boost in earnings from cable network programming. The company, factoring in the U.S. economic downturn’s effect on local...