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Tag: Fox Networks Group

  • 21st Century Fox eyes $250 million cost cut via staff buyouts

    21st Century Fox eyes $250 million cost cut via staff buyouts

    MUMBAI: The Rupert Murdoch owned 21st Century Fox is looking at reducing costs by approximately $25 million in the 2017 fiscal by offering enhanced benefit packages to employees of its film (Twentieth Century Fox Film) and TV networks (Fox Networks Group) divisions if they resign voluntarily.

    In an internal email memo, Fox Networks Group chairman and CEO Peter Rice said, “Our industry is changing rapidly, presenting new challenges and even more opportunities at every turn. For a company that has always embraced change and innovation, these are exciting times. To ensure we make the most of this new world, we need to adjust, adapt, and organize for the future. With this in mind, through the remainder of this fiscal year, we will be undertaking some structural changes, increasing investment in some parts of the company while making cost reductions in other areas.”

    “As the next step in this reorganization, colleagues who fit a specific set of criteria will be offered a generous benefit package if they decide to voluntarily resign from the company, effective May 23, 2016. Colleagues who are eligible for this offer will receive a confidential email in the next few hours with specific terms and benefits. Again, the program is completely voluntary,” Rice added.

    Twentieth Century Fox Film chairman and CEO Jim Gianopulos wrote in his memo, “As we all know, the film industry is facing many significant changes, and we are no exception. While we continue to succeed on many fronts, such as garnering an extraordinary 30 Academy Awards nominations and; last year, setting an all-time industry box office record, we must be cognizant of the industry’s transformation and position ourselves to continue our success in this new environment. To that end, we are reviewing our organizational structure and looking at potential cost reductions to position us for sustained future growth.”

    “This comes at a time that is both exciting and challenging for the company. We are the best at what we do and will continue to excel, but we also have to be fearless about transforming, and embrace both change and opportunity. If we structure our organization for the media world ahead of us, we will continue to thrive and make 20th Century Fox a stronger and more agile company going forward,” Gianopulos added.

  • NGC prez Howard T Owens to step down in June

    NGC prez Howard T Owens to step down in June

    MUMBAI: The National Geographic Channels US president Howard T Owens has decided to move on from the network post June, 2014.

     

    Owens has been with NGC since late 2011. He was previously a longtime exec at Reveille and an agent at William Morris Agency. During his tenure at NGC he launched the franchise series Wicked Tuna, Brain Games and Ultimate Survival Alaska, among others, and led the move into event productions like SEAL Team Six and The ’80s: The Decade That Made Us. He also introduced original scripted programming to the channels for the first time. Owens also served as president of Nat Geo Wild.

     

    “Howard injected remarkable energy into the National Geographic Channels brand,” said NGC US CEO David Lyle in a press statement. “He has been an invaluable member of our leadership team and we wish him nothing but the best in his future business endeavors.”

     

    “We have truly benefited from Howard’s zeal for bringing audiences innovative programming that underscores the uniqueness and depth of the National Geographic Channels brand,” added Fox Networks Group chairman and CEO Peter Rice. “From a creative and programming perspective, Howard’s work consistently broke new ground, and National Geographic Channels are uniquely positioned for the future as a result of his efforts.”

     

    Owens stated: “As I get ready for my next adventure I can’t help but reflect on what has been an incredible experience for me, both personally and professionally. National Geographic Channels have some of the brightest minds in the television business, and I’m proud of the work we have accomplished together – specifically in defining the National Geographic Channels as a destination for innovative, original and brand-defining creativity. I am deeply grateful to Peter, David and the entire National Geographic family for their collaboration and support, and look forward to working with them in new ways in the future.”