ITV

Tag: Chase Carey

  • Fox reorganises international division, CEO Hernan Lopez to quit

    Fox reorganises international division, CEO Hernan Lopez to quit

    MUMBAI: In a major restructuring exercise, Fox Networks Group is reorganising its international television unit, consolidating its international channels under regional hubs in Europe, Latin America and Asia.

     

    With this development, Fox International Channels CEO Hernan Lopez will leave the company.

     

    Under the new structure, FIC banner will be discontinued. Additionally, Zubin Gandevia will become president of Fox Networks Group Asia, while Jan Koeppen and Carlos Martinez will hold the same position Europe and Latin America respectively.

     

    All three will report to Fox Networks Group CEO and chairman Peter Rice and Fox Networks Group president and COO Randy Freer.

     

    “As our television business expands globally, the success and scale of our entertainment and sports brands in these fast-growing regions demand that they stand independently. Jan, Carlos and Zubin are extremely talented executives with a sharp understanding of the opportunities for new content and programming in their regions,” Rice said.

     

    “At Fox, I’ve been fortunate to work with some of the most talented and creative people in media. I want to thank the several thousand employees and alumni of FIC, as well as Peter Rice, Chase Carey, James, Lachlan and Rupert Murdoch. I’ve been inspired by them and many colleagues throughout Fox, News Corp and Sky, and look forward to future collaborations as I embark on this next stage of my career,” Lopez added.

     

    Gandevia, Koeppen and Martinez will oversee Fox Network Groups’ 350-plus international entertainment, sports, factual and movie channels.

  • Murdoch scion to take over 21st Century Fox from 1 July

    Murdoch scion to take over 21st Century Fox from 1 July

    MUMBAI: The Board of 21st Century Fox has made a series of senior management changes, which will take effect 1 July, 2015. As was reported by Indiantelevision.com last week, Rupert Murdoch, the company’s founder, chairman and CEO, together with Lachlan Murdoch, currently co-chairman, will become executive co-chairmen.

     

    Additionally, Chase Carey, the company’s deputy chairman, president and COO since 2009, will become the executive vice chairman and serve in that role through 30 June, 2016. James Murdoch, currently co-chief operating officer, will become CEO.

     

    In conjunction with these changes, the company’s corporate functions, and its global television and film operations will now jointly report to Lachlan and James Murdoch.

     

    Rupert Murdoch said, “It has always been our priority to ensure stable, long term leadership for the company, and these appointments achieve that goal. Lachlan and James are each talented and accomplished executives and together, we, as shareholders and partners, will strive to take our company to new levels of growth and opportunity at a time of dynamic change in our industry.”

     

    He added, “I can’t thank Chase Carey enough for his friendship, counsel and leadership over the past decades. He will be actively engaged in supporting Lachlan and James as they step in to their new roles.”

     

    Carey said, “I am grateful to Rupert for giving me the opportunity of a lifetime and truly believe there isn’t a company out there that’s more exciting, with more growth potential, than 21st Century Fox. I look forward to continuing to work with Rupert to support Lachlan and James in their new positions.”

     

    In a joint statement, Lachlan and James Murdoch said, “We are both humbled by the opportunity to lead, with our father and the talented team of executives at 21st Century Fox, this extraordinary company. We are grateful to Chase for being the leader and partner that he has been, and we are both delighted that his wisdom and sure handedness will continue to serve 21st Century Fox. We are also grateful to the Board for providing us the opportunity to lead this great company. Most importantly, we each look forward to working with the entire team of creators, executives, artists and all of our colleagues that make up our global businesses, to steer the company into the future, and to drive continued value for our shareholders.”

     

    21st Century Fox lead director Rod Eddington said, “The Board has long been focused on succession and we’re fortunate to have two very talented executives in Lachlan and James to take this company into the future. Working in tandem with Rupert, we’re confident their partnership and stewardship will give this business real momentum for many years to come. We are also deeply grateful to Chase Carey for his many years of exceptional leadership and his agreement to continue his contributions through his new position.”

  • Rupert Murdoch’s pay for latest fiscal year dropped to $28.9 mn

    Rupert Murdoch’s pay for latest fiscal year dropped to $28.9 mn

    MUMBAI: Rupert Murdoch’s compensation for the latest fiscal year dropped 3.7 per cent to $28.9 million.

     

    He had made $30 million the previous year, but saw a slight decline in the latest period ended 30 June, according to a regulatory filing Friday.

     

    The filing was made by his entertainment conglomerate 21st Century Fox, which was created along with new News Corp in a split mid-year. The pay for the latest year was for Murdoch’s work as chairman and CEO of the pre-split News Corp.

     

    The fiscal-year pay for former News Corp and now 21st Century Fox deputy COO James Murdoch, the media mogul’s son, rose 1.2 per cent from $16.84 million to $17.04 million.

     

    Chase Carey, president and COO of the pre-split News Corp and now 21st Century Fox, made $27.05 million in the latest year, up 9.2 per cent from $24.76 million in the fiscal year ended 30 June 2012.

     

    Rupert Murdoch’s salary for the latest year was unchanged at $8.1 million, his stock awards rose from $3.51 million to $5.16 million, and he also received a $12.5 million non-equity incentive payout, a form of bonus he received instead of the bonus that he had gotten a year earlier. His other compensation included $274,531 in personal use of the corporate aircraft and $15,694 in personal use of a corporate car. The conglomerate’s stock rose 46 per cent in the most recent fiscal year.

     

    James Murdoch’s salary was unchanged at $3 million, his stock awards rose from $5.26 million to $7.48 million, and he got $6 million in non-equity incentive compensation. Among his other compensation was $283,035 in personal use of the corporate aircraft and $8,925 in personal use of a corporate car. The executive oversees the company’s international operations.

     

    Carey’s salary was also unchanged at about $4 million, his stock awards rose from $8.77 million to $12.91 million, and his non-equity compensation amounted to $10 million. His other compensation included $60,067 in personal use of the corporate aircraft and $14,400 in personal use of a corporate car.

  • US broadcasters could go to Congress in Aereo dispute

    US broadcasters could go to Congress in Aereo dispute

    MUMBAI: The fight between the US broadcasters like Fox and Barry Diller-backed Aereo is likely to get hotter. There is possibility of the broadcasters could appeal to the US Congress.

    Aereo CEO Chet Kanojia has been quoted in reports saying that in the past broadcasters have gone to Congress. Earlier a US court of appeals had dismissed a plea by broadcasters against Aereo.

    Aereo uses tiny antennas to pick up free over-the-air broadcast television signals and then transmits the video to its customers over the Internet. News Corp COO Chase Carey has threatened to make Fox pay on cable.

    Right now Aereo is only in New York but the plan is to expand to several more cities. Aereo‘s premium subscription plan costs $12 a month.

    The broadcasters want Aereo to pay to rebroadcast their signals, just like cable and satellite providers already do. Broadcast transmission fees are now a multi-billion dollar business. If Aereo can access content for free then cable companies that also retransmit signals might ask for the fee to be removed or reduced.

    Of course Aereo is another case of the disruptive influence of the Internet and the impact it is having on business models and revenue streams.

  • DirecTV US 2Q revenues increase 12% to $3.3 billion

    DirecTV US 2Q revenues increase 12% to $3.3 billion

    MUMBAI:The DirecTV Group Inc. today reported that the second quarter revenues increased 10 per cent to $3.52 billion and operating profit nearly doubled to $977 million compared to last year’s second quarter.

    The Group reported second quarter 2006 operating profit and net income both more than doubled to $741 million and $459 million, respectively, when compared to the same period last year.

    Earnings per share were $0.36 compared with $0.12 in the same period last year. These operating results include the effect of $253 million of equipment that DirecTV US capitalized during the quarter under its lease program, which was implemented 1 March 2006, according to an official statement.

    “Similar to recent quarters, DirecTV US generated excellent financial results highlighted by a 12 per cent increase in revenues to $3.3 billion, a 93 per cent increase in operating profit before depreciation and amortization to $977 million and a nearly tripling of cash flow before interest and taxes to $450 million,” said DirecTV Group president and CEO Chase Carey.

    “In many ways, the results in the quarter reflect our strategy to target higher quality subscribers. For example, although gross subscriber additions of 863,000 and net additions of 125,000 in the quarter were below expectations, it’s important to note that we added 11 per cent more higher quality gross subscribers in the quarter compared to last year,” said Carey.

    “This trend — which is driving both the top-line and bottom-line financial results — is primarily due to the ongoing changes we’re making to refine our credit policy and dealer network. These factors played an important role in reducing DirecTV’s monthly churn rate from 1.69 per cent to 1.59 per cent this quarter.”

    “In addition, customers are buying more premium services such as high definition programming and digital video recorders which is contributing to the strong ARPU growth of 5.6 per cent in the quarter.”

    On 1 March 2006, DirecTV US introduced a set-top receiver lease program primarily to increase future profitability by providing DirecTV US with the opportunity to retrieve and reuse set-top receivers from deactivated customers. Under this new program, set-top receivers are capitalized and depreciated over their estimated useful lives of three years.

    The amount of cash DirecTV U.S. paid during the quarter ended 30 June 2006 for leased set-top receivers totaled $253 million — $153 million for subscriber acquisitions and $100 million for upgrade and retention.