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Tag: 21st Century Fox

  • Ireland clears Fox’ proposed acquisition of Sky

    MUMBAI: 21st Century Fox has welcomed the decision by the Republic of Ireland’s Minister for Communications, Climate Action and Environment to clear the company’s acquisition of the outstanding shares of Sky that the company does not already own, ruling that the proposed transaction will not result in insufficient plurality for any audience in the Republic of Ireland. The decision was communicated to 21st Century Fox by the Department of Communications, Climate Action and Environment.

    The decision follows rulings clearing the transaction on public interest grounds including plurality by authorities in all of the markets in which Sky operates outside of the UK, including Austria, Germany, Italy and now the Republic of Ireland.

    The decision also follows unconditional clearance of the proposed transaction by all competent competition authorities, notably the European Commission on 7 April 2017, covering both the UK and the rest of the European Economic Area, as well as by the Jersey competition authority.

    The UK Secretary of State for Culture, Media and Sport has confirmed that she has now received the reports from Ofcom and the CMA on the specified public interest grounds, media plurality and commitment to broadcasting standards. The Department for Culture, Media and Sport has stated that the Secretary of State will make her initial “minded to” decision, publish the reports and return to Parliament to make an oral statement by 29 June.

    AlsO Read :

    Fox-Sky deal: UK to assess implications by 29 June

  • De-mon contributes to lower international ad revenue at 21st Century Fox

    BENGALURU: Rupert Murdoch’s 21st Century Fox (TFC-Fox) reported five per cent decline in net income attributable to TFC-Fox stockholders (net income) for the quarter ending 31 March 2017 (Q3-17, current quarter) as compared to the corresponding periods of the previous fiscal.  The company’s Q3-17 net income was $799 million as compared to $841 million in Q3-16. As reported by us earlier, (21st Century Fox outlook on Star bullish despite $30 million DeMon Hit), TFC-Fox CFO John Nallen, in conversation with analysts had admitted that Star too ‘got affected’ from last quarter to first quarter of 2017 to the extent of $30 million.

    Demonetisation in India partially contributed to the drop in revenue in Q3-17 going by some statements in TFC-Fox’s earnings release for Q3-17. The company’s press release says: “International advertising revenue decreased 18 percent from lower advertising revenues at Star India due to the absence of the prior year broadcast of the ICC Cricket World Twenty20 matches and the effect of the Indian government demonetization initiatives on the general advertising market. Quarterly OIBDA at the international cable channels increased 44 percent from the prior year quarter primarily reflecting lower sports programming costs at STAR India and higher contributions from Fox Networks Group International (FNGI).”

    Advertising revenue in the current quarter increased 15.5 percent to $2,203 million from $1,907 million. Affiliate Fees in Q3-17 increased 7.5 percent to $3,160 million from $2,939 million in the corresponding year ago quarter. Content revenue in Q3-17 declined 9.2 percent to $2,078 million from $2,288 million in Q3-16. Other revenue increased 30.9 percent to $123 million from $94 million.

    Overall TFC-Fox revenue in the current quarter increased 4.6 percent to $7,564 million as compared to $7,228 million in Q3-16. Total operating income before depreciation and amortisation (OIBDA) for the quarter increased 3 percent to $1,938 million from $1,881 million in the year ago quarter.

    Commenting on the results, TFC-Fox executive chairmen Rupert and Lachlan Murdoch said, “We delivered a quarter marked by operational momentum and strong domestic affiliate fee growth. We continue to demonstrate our ability to capture opportunities to grow distribution of our domestic portfolio of video brands, whether through established MVPD partners or new digital entrants such as Hulu’s recently launched live television service. We made progress in the quarter against our key strategic priorities, exemplified by our creative successes across screens, from theatrical releases Logan and Hidden Figures to new FX debuts of Legion, Feud and Taboo. Our proposed combination with Sky, which was recently approved unconditionally by the European Commission, will advance another of our strategic priorities, driving innovation for customers. We remain confident the proposed transaction will be approved by the end of the calendar year following a thorough review process.”

    Three segments contribute to TFC-Fox numbers: Cable Network Programming (Star India is a part of Cable Network Programming); Television; and Filmed Entertainment.

    Cable Network Programming

    Cable Network Programming quarterly segment OIBDA increased 5 percent to $1.45 billion and revenue increased 2 percent to $4.02 billion.

    Expenses were consistent with the prior year quarter as higher entertainment programming and marketing costs at FX Networks and National Geographic Channels, higher National Association for Stock Car Auto Racing (NASCAR) rights costs at FOX Sports 1 (FS1) and higher National Basketball Association (NBA) rights costs at the regional sports networks (RSNs) wereoffset by lower sports rights costs at STAR India due to the absence of the prior year broadcast of the International Cricket Council (ICC) Cricket World Twenty20 matches.

    Domestic affiliate revenue increased 8 percent reflecting continued contractual rate increases led by Fox News, FS1, the RSNs and FX Networks. Domestic advertising revenue was flat over the prior year period as the impact of higher ratings at Fox News and FS1 was offset by lower revenues at the National Geographic Partners businesses. Domestic OIBDA contributions were equal to the prior year quarter as higher contributions from Fox News were offset by lower contributions from FX Networks and National Geographic Channels.

    International affiliate revenue increased 5 percent driven by local currency growth of 7 percent partially offset by negative currency impacts from the strengthened U.S. dollar. International advertising revenue decreased 18 percent from lower advertising revenues at Star India due to the absence of the prior year broadcast of the ICC Cricket World Twenty20 matches and the effect of the Indian government demonetization initiatives on the general advertising market. Quarterly OIBDA at the international cable channels increased 44 percent from the prior year quarter primarily reflecting lower sports programming costs at STAR India and higher contributions from Fox Networks Group International.

    TELEVISION

    Television reported quarterly segment OIBDA of $190 million, an increase of 52 percent as compared to the prior year quarter driven by 30 percent revenue growth reflecting increased advertising revenue and continued growth of retransmission consent revenues.

    Quarterly advertising revenues grew 39 percent from the corresponding period of the prior year driven by the broadcast of Super Bowl LI and the inclusion of one additional National Football League divisional playoff game, partially offset by the impact from lower general entertainment ratings, led by the absence of American Idol, which concluded its final season in the prior year. The segment results also included higher sports programming costs associated with the broadcast of Super Bowl LI and the additional National Football League divisional playoff game.

    FILMED ENTERTAINMENT

    Filmed Entertainment generated quarterly segment OIBDA of $373 million, a $97 million decrease from the $470 million reported in the same period a year-ago. The OIBDA decrease in the current quarter was driven primarily by lower film studio contributions reflecting difficult comparisons to last year’s strong worldwide theatrical performance of Deadpool and the home entertainment performance of The Martian, partially offset by higher television production contributions from higher subscription video-on demand revenues led by the licensing of The People v. O.J. Simpson: American Crime Story and higher network revenue.

    Quarterly segment revenues decreased $65 million to $2.26 billion, primarily reflecting lower worldwide theatrical and home entertainment revenues partially offset by higher television production revenues. Quarterly results also included the successful theatrical performances of both Logan and Hidden Figures, which have grossed approximately $600 million and $230 million in worldwide box office, respectively.

  • 21st Century Fox names Melody Hildebrandt global chief information security officer

    MUMBAI: 21st Century Fox has announced the appointment of Melody Hildebrandt to the role of Global Chief Information Security Officer. In this role, she will oversee the protection and risk management for enterprise communications, technologies and assets for 21CF. She joins the company from Palantir Technologies, where she served as executive vice president and directed the cybersecurity practice. Her appointment is effective 1 June 2017.

    Hildebrandt will report to Chief Technology Officer Paul Cheesbrough, who commented:

    “Melody is an accomplished executive who is a proven leader in the cyber security industry. Her expertise, when combined with our existing capabilities, will add significantly to such an important area for our business.”

    Since 2010, Hildebrandt has served as executive vice president of Palantir Technologies. She led the commercial business with particular expertise in the challenges of cybersecurity, financial crime, employee oversight, and litigation faced by premier global multinationals. She speaks internationally on risk issues at
events including the White House 
Cybersecurity Summit, Aspen Ideas Festival,
International Monetary Conference, Web Summit, Securities Industry and Financial Markets Association Annual Meeting, and the 
World Economic Forum Annual Meeting.

    Prior to that, she consulted to US and international governments with Booz Allen Hamilton where she designed military and strategy wargames. She also previously worked with the French Ministry of Education while living in France, where she also studied. She is the founder of Transcapitalist, a blog that explored the intersection of technology and free market mechanisms.

  • Netflix viewing is 6% of Hotstar’s in India: 21st CF CFO Nallen

    NEW DELHI: Star India’s parent 21st Century Fox feels that Star’s OTT platform Hotstar future in the Indian market was great and that it has become the `second TV’ in Indian homes that highlights global competitors like Netflix and Amazon have failed to make a dent yet.

    According to 21st Century Fox senior EVP and CFO John Nallen, the portable nature of the app (Hotstar on a smart phone) has made people use it as a “second TV”. Similarity of content on traditional TV on Star channels (“we produce 17,000 hours per year of local Indian product”) is what drives the market, ratings and minutes on Hotstar, he added.

    Speaking to investors in March 2017, Nallen pointed out that there have been 135 million downloads — “the biggest app download in Indian history”– of Hotstar app and in terms of usage in January 2017, it had eight billion minutes of viewing, “ten times of what it had six months earlier”.

    “When I look at the growth of our business, Hotstar is a key piece of it in India, and it also had the opportunity to appeal to the Indian diaspora where we sell our products currently in the US and the UK,” the 21st CF CFO highlighted.  At 21st Century Fox, Nallen oversees all of the company’s financial dealings, specifically overseeing capital market and merger and acquisition transactions as well as various corporate-wide operating initiatives.

    Asked if Amazon and Netflix impacted the OTT market in India as both were investing heavily, Nallen said, “Netflix, not really. It is six per cent of Hotstar viewing (in India). Amazon is investing significantly in local products, which is in Hindi and local languages.”

    According to an official statement from Star earlier this month, Hotstar became the first local service to cross 100 million downloads on the Google Play Store, racing ahead of many other consumer Internet companies in India, including e-commerce services like Amazon India and Flipkart, taxi ride services like Ola, payment apps like Paytm and even news services like Times of India, NDTV and Dailyhunt.

    The service also announced recently that it has emerged as the primary screen for cricket extravaganza VIVO IPL 2017 in India’s top cities, especially those with more than a million in population.

    Speaking at the CASBAA OTT Summit in Singapore in March, Hotstar CEO Ajit Mohan, without elaborating on exact plans, had asserted the platform wanted to expand to other parts of the globe, adding the model could be “global with mobile viewing and tech at the heart of things.”  He did not expand on the territories being targeted for expansion or the investments being made by the company.

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  • 21st Century Fox outlook on Star bullish despite $30m DeMon hit

    MUMBAI: Though India’s currency demonetisation late last year with ripple effects of currency shortage spilling over in 2017 hit businesses all round, including the likes of Star, its parent 21 Century Fox has pinned high hopes on the OTT platform Hotstar and the overall ability of Star to overcome short-term hiccups because of market dominance.

    Terming the demonisation move of PM Modi-led government in New Delhi a “crazy speed bump” that hit businesses all round, 21st Century Fox  CFO John Nallen, in a conversation with investment analysts at a conference last month, admitted that Star too got “affected” from last quarter 2016 to first quarter 2017 calendar year. He revealed at that time that Star India took a hit of almost $30 million, and the company expects that things would start looking up mid-March 2017 onwards.

    According to Nallen, India would prove to be a major revenue earner for Star and Hotstar in the long term.

    Pointing out that, in the last two years, 20 million TV households were added to the eco-system, which brought the total number of TV households to 180 million (a recent BARC broadcast survey put the total number of Indian TV HHs at 183 million with rural leading the growth), Nallen said, “We are in the middle of a five-year cycle where pay TV households doubled and advertising nearly doubled during that period of time…so when advertising lifts, we get a little more of what the advertising lift and it is because of the company’s (Star) market share and dominance in the market.”

    Nallen was also confident that Star, with its bouquet of regional and sports channels delivered via cable and satellite and complimented by OTT platform Hotstar, will continue to be the jewel in the News Corp crown (a description of Star by 21st Century Fox chairman Rupert Murdoch).

    “The plans of Star TV are still intact. I am assuming that there is no geo-political issue(s) and no economic disruptions…that no one wakes up with some other rule in India that will disrupt the business,” the seasoned CFO observed, adding that Star an important clog in Murdoch’s media empire as it was one of the “biggest growth driver(s)” and the objectives and targets with which the business was set up and operationalised in India were achievable.

    Also Read :

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    How Hindi GEC channels fared in first quarter of 2017

    Star India shows now travel to West Asia, tripling ratings

  • India’s second radio operator MBL seeks to list

    India’s second radio operator MBL seeks to list

    MUMBAI: Music Broadcast Ltd (MBL), the FM radio unit of the media house Jagran Prakashan backed by the private equity giant Blackstone, on Monday, filed draft documents with the capital markets regulator Securities and Exchange Board of India for an initial public offering.

    ICICI Securities is the sole financial adviser for the issue. The IPO will comprise of a fresh issue aggregating upto Rs. 4,000 million (Rs 400 crore) and an offer for sale of up to 2,658,518 equity shares by certain existing shareholders of MBL. JPL is not selling any of its shareholding in MBL under the offer for sale portion.

    MBL will be the second radio operator to list on BSE after Times Group’s Entertainment Network India Ltd, which runs Radio Mirchi, India’s top FM radio business label.

    Jagran entered the radio segment with the acquisition of Music Broadcast Pvt Ltd in December 2014 from Rupert Murdoch-controlled 21st Century Fox’s Star Group and the private equity company India Value Fund Advisors.

    The company plans to use the proceeds to redeem non-convertible debentures, repay inter-corporate deposits as well as for general corporate purposes.

    MBL has a presence in 29 cities. Its radio stations include eight Radio Mantra stations. The company says its radio stations reached out to 49.60 million listeners in 23 cities covered by AZ Research as on 31 March 2016.

  • India’s second radio operator MBL seeks to list

    India’s second radio operator MBL seeks to list

    MUMBAI: Music Broadcast Ltd (MBL), the FM radio unit of the media house Jagran Prakashan backed by the private equity giant Blackstone, on Monday, filed draft documents with the capital markets regulator Securities and Exchange Board of India for an initial public offering.

    ICICI Securities is the sole financial adviser for the issue. The IPO will comprise of a fresh issue aggregating upto Rs. 4,000 million (Rs 400 crore) and an offer for sale of up to 2,658,518 equity shares by certain existing shareholders of MBL. JPL is not selling any of its shareholding in MBL under the offer for sale portion.

    MBL will be the second radio operator to list on BSE after Times Group’s Entertainment Network India Ltd, which runs Radio Mirchi, India’s top FM radio business label.

    Jagran entered the radio segment with the acquisition of Music Broadcast Pvt Ltd in December 2014 from Rupert Murdoch-controlled 21st Century Fox’s Star Group and the private equity company India Value Fund Advisors.

    The company plans to use the proceeds to redeem non-convertible debentures, repay inter-corporate deposits as well as for general corporate purposes.

    MBL has a presence in 29 cities. Its radio stations include eight Radio Mantra stations. The company says its radio stations reached out to 49.60 million listeners in 23 cities covered by AZ Research as on 31 March 2016.

  • Zindagi, Tata Sky tie up for contest; winners to celebrate New Year in Turkey

    Zindagi, Tata Sky tie up for contest; winners to celebrate New Year in Turkey

    MUMBAI: Zindagi, a leading premium entertainment channel, has always offered viewers unique experiences and presented the best stories from across the world.

    Taking this value proposition a step ahead, the channel has associated with one of India’s leading content distribution platform providing Pay TV and OTT services, Tata Sky. The ‘Zindagi New Year in Turkey Contest’ will start on 21 November and end on 5 December 2016.

    Zindagi will offer Tata Sky subscribers a chance to win an all-expense paid holiday for two to Turkey in January 2017. Five lucky winners along with a companion each will get a chance to visit Turkey by answering few simple questions on the blockbuster primetime series, ‘Fatmagul’ that airs on Zindagi Monday to Saturday at 9:00 PM.

    Zee Entertainment Enterprises Ltd. (ZEEL) chief business officer Sunil Buch said, “Our Turkish shows have acquainted viewers with a country that is known for its beautiful locations, good stories, great talent and people whose sensibilities and values are similar Indians. Our partnership with Tata Sky allows us us an opportunity to delight viewers with a memorable holiday to Turkey for the appreciation they have given to Turkish shows on Zindagi.”

    Tata Sky chief communications officer Malay Dikshit said, “The co-marketing initiative with Zindagi is a win-win for all. Imagine that one can be rewarded for watching good quality TV – something that they enjoy!.”

    Tata Sky subscribers can answer questions based on Fatmagul by pressing the Red Button on their Tata Sky remote while watching the show on Zindagi. This will lead them to a landing page where they need to answer few simple questions. The contest will be LIVE on Zindagi only during the original episode airing i.e. from 9: 00 PM to 10: 00 PM, Monday to Saturday. The contest will be promoted heavily through promos on the Default Landing Channel, Search & Scan Banner & Guide Banner across all TATA Sky households.

    Zindagi presents finite world stories with bold narratives that unveil universal emotions. Tata Sky, a JV between the Tata Group and 21st Century Fox, was the first to launch multiple products and services that redefined the subscribers viewing experience in the country.

  • Zindagi, Tata Sky tie up for contest; winners to celebrate New Year in Turkey

    Zindagi, Tata Sky tie up for contest; winners to celebrate New Year in Turkey

    MUMBAI: Zindagi, a leading premium entertainment channel, has always offered viewers unique experiences and presented the best stories from across the world.

    Taking this value proposition a step ahead, the channel has associated with one of India’s leading content distribution platform providing Pay TV and OTT services, Tata Sky. The ‘Zindagi New Year in Turkey Contest’ will start on 21 November and end on 5 December 2016.

    Zindagi will offer Tata Sky subscribers a chance to win an all-expense paid holiday for two to Turkey in January 2017. Five lucky winners along with a companion each will get a chance to visit Turkey by answering few simple questions on the blockbuster primetime series, ‘Fatmagul’ that airs on Zindagi Monday to Saturday at 9:00 PM.

    Zee Entertainment Enterprises Ltd. (ZEEL) chief business officer Sunil Buch said, “Our Turkish shows have acquainted viewers with a country that is known for its beautiful locations, good stories, great talent and people whose sensibilities and values are similar Indians. Our partnership with Tata Sky allows us us an opportunity to delight viewers with a memorable holiday to Turkey for the appreciation they have given to Turkish shows on Zindagi.”

    Tata Sky chief communications officer Malay Dikshit said, “The co-marketing initiative with Zindagi is a win-win for all. Imagine that one can be rewarded for watching good quality TV – something that they enjoy!.”

    Tata Sky subscribers can answer questions based on Fatmagul by pressing the Red Button on their Tata Sky remote while watching the show on Zindagi. This will lead them to a landing page where they need to answer few simple questions. The contest will be LIVE on Zindagi only during the original episode airing i.e. from 9: 00 PM to 10: 00 PM, Monday to Saturday. The contest will be promoted heavily through promos on the Default Landing Channel, Search & Scan Banner & Guide Banner across all TATA Sky households.

    Zindagi presents finite world stories with bold narratives that unveil universal emotions. Tata Sky, a JV between the Tata Group and 21st Century Fox, was the first to launch multiple products and services that redefined the subscribers viewing experience in the country.

  • Emerging female visionaries: Fox, PepsiCo announce contest, award up to $200,000

    Emerging female visionaries: Fox, PepsiCo announce contest, award up to $200,000

    MUMBAI: PepsiCo and 21st Century Fox, in partnership with the New York Academy of Sciences (NYAS), has announced “The Search for Hidden Figures” – a new scholarship contest designed to help uncover the next generation of female leaders in science, technology, engineering and math (STEM).

    The program is inspired by the highly-anticipated feature film “Hidden Figures”, in theaters nationwide on 6 January, 2017, produced by Pharrell Williams, starring Taraji P. Henson, Octavia Spencer, Janelle Monáe, Kevin Costner, Kirsten Dunst, and Jim Parsons. The film tells the ‘untold’ story of three African American female NASA mathematicians during the Space Race of the 1960s. This contest will support today’s emerging STEM visionaries by awarding over US$200,000 (Rs 1.35 crore) in scholarships and other prizes to over 20 winners.

    Taraji P. Henson plays Katherine Coleman Goble Johnson, American physicist, space scientist, and mathematician in “Hidden Figures.”

    “PepsiCo is incredibly proud to work with 21st Century Fox and the New York Academy of Sciences to shine a light on women and girls doing outstanding but unheralded work in science, technology, engineering and math,” said PepsiCo’s vice chairman and chief scientific officer – global research and development Mehmood Khan. “The ‘Hidden Figures’ story is being told at a time when advances in each of these fields are creating unprecedented opportunities to develop solutions for many of the world’s biggest challenges. PepsiCo is proud to actively support the discovery of STEM talent and the development of STEM skills in the workforce.”

    Beginning today through 10 December, 2016, online entries will be accepted directly at www.SearchforHiddenFigures.com. Semi-finalists will be selected in mid-December, and each will be asked to provide a video submission for continued consideration. Top video submissions will then be judged by a notable panel of judges that include: “Hidden Figures” Producer Pharrell Williams; “Hidden Figures” Producer Donna Gigliotti; Fox 2000 President Elizabeth Gabler; and President of the New York Academy of Sciences Ellis Rubinstein.

    On January 12, 2017, two grand prize winners will be announced. Winners will receive access to the NYAS STEM skills training materials and programs, up to $200,000 in scholarships, and a trip to the Kennedy Space Center in Orlando, Florida.

    “We are honored to have the opportunity to share the story of Katherine Johnson and her peers whose contributions have remained hidden for too long,” said 21st Century Fox executive chairman Lachlan Murdoch . “At 21CF, we believe in the power of storytelling to inspire the next generation of talent to dream bigger and unlock their full potential, and through The Search for Hidden Figures contest we are excited to give young women across the country the encouragement to pursue those dreams.”

    To help encourage participation, PepsiCo and 21st Century Fox will be supporting the campaign with a national TV and digital media campaign featuring the film’s lead actress, Taraji P. Henson, as well as messages of encouragement from the film’s actresses and exclusive behind-the-scenes footage from “Hidden Figures” on the contest’s website. To further discussion around STEM, PepsiCo will also be launching a collection of STEM mobile and web games, quizzes and challenges for students and fans of the film to test their skills. The mobile and web games can be found at http://searchforhiddenfigures.com/stem-challenges/.

    At PepsiCo, deep scientific and technological expertise is critical to meeting the company’s Performance with Purpose goals. Unlocking new ways to create more nutritionally advantaged foods and beverages or delivering tangible plans to increase production while reducing the company’s environment footprint, all rely on STEM leadership. By investing in today’s emerging talent, PepsiCo is playing a role in inspiring the next generation of STEM leaders who will likely become the driving force behind the company’s future innovation and topline growth.

    PepsiCo recently announced a commitment to improve the lives of 12.5 million women and girls by 2025, as part of its Performance with Purpose goals. Given that women represent only 24 percent of the STEM workforce, PepsiCo is particularly committed to expanding and encouraging STEM opportunities among female students and professionals.

    Prior to the Search for Hidden Figures contest, PepsiCo was the founding chair of the STEM Innovation Taskforce, a coalition on of more than 35 industry, government, educator and NGO partners who work cross functionally to develop and implement programs to help solve the STEM shortfall. Additionally, PepsiCo holds a longstanding relationship with NYAS and continues to support “The Junior Academy of the New York Academy of Sciences” – a virtual program dedicated to engaging exceptional STEM students. For more information about The Junior Academy of NYAS, please visit www.thejunioracademy.org.

    “Hidden Figures,” directed by Theodore Melfi, is the incredible untold story of Katherine G. Johnson (Taraji P. Henson), Dorothy Vaughan (Octavia Spencer) and Mary Jackson (Janelle Monáe)—brilliant African-American women working at NASA, who served as the brains behind one of the greatest operations in history: the launch of astronaut John Glenn into orbit, a stunning achievement that restored the nation’s confidence, turned around the Space Race, and galvanized the world. The visionary trio crossed all gender and race lines to inspire generations to dream big. The film was written by Allison Schroeder and Melfi and is based on the book by Margot Lee Shetterly. The film opens wide on 6 January, 2017.