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Tag: FX Networks

  • 21st CF spins-off into new live news & sports co Fox

    21st CF spins-off into new live news & sports co Fox

    MUMBAI: After the blockbuster acquisition of 21st Century Fox by The Walt Disney Company, the former has announced that it will spinoff into a new brand Fox’ that will seek to replicate its own success in the newly focussed verticals of live news and sports brands.

    Using fiscal 2017 as a base, the new Fox is expected to have annual revenue of $10 billion and EBITDA of $2.8 billion. The company will have an investment grade balance sheet conservatively levered with a maximum of $9 billion of new gross debt or under 3 times net leverage on day one.

    Fox will hold iconic branded properties Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network (BTN). It will also include the company’s studio lot in Los Angeles and equity investment in Roku.

    This new entity will own the top cable news channel in the US and the most-watched business news channel, as well as a station group, which is present in nine out of the 10 largest metro areas. Under sports, it holds the rights for NFL, MLB, World Cup Soccer and NASCAR.

    Fox will have a strong financial profile, supported by peer-leading growth and differentiated free cash flow generation, and will be positioned to continue to deliver consistent growth driven by affiliate rate increases, retransmission growth and strong advertising demand for its live content and entertainment product.

    21st Century Fox executive chairman Rupert Murdoch said: “The new Fox will draw upon the powerful live news and sports businesses of Fox, as well as the strength of our broadcast network. It is born out of an important lesson I’ve learned in my long career in media: namely, content and news relevant to viewers will always be valuable. We are excited by the possibilities of the new Fox, which is already a leader many times over.”

    The remaining business of the company has been combined with Disney in a $52.4 billion acquisition including all its film and TV studios, cable entertainment networks and international TV business. Disney will also acquire FX Networks, Fox Sports Regional Networks, Fox Networks Group International, Star India, and 21st Century Fox’s interests in National Geographic Partners, Hulu, Sky, Tata Sky and Endemol Shine Group.

    Murdoch said that the deals are crucial to paving way for a new Fox and a better Disney. “We have always made a commitment to deliver more choices for customers; provide great storytelling, objective news, challenging opinion and compelling sports. Through today’s announcements, we are proud to recommit to that promise and enable our shareholders to benefit for years to come through ownership of two of the world’s most iconic, relevant, and dynamic media companies. They will each continue to be leaders in creating the very best experiences for consumers.”

    The spin-off transaction will be taxable to 21st Century Fox, but not to its shareholders.  The new Fox will receive a step-up in its tax basis commensurate with the amount of the corporate tax relating to the spin-off that will generate annual cash tax savings over the next 15 years.

    Following the spin-off, Fox expects to continue to pay shareholders a strong regular dividend, with the initial rate to be determined prior to the completion of the spin-off. Prior to completion of the spin-off, new Fox will pay an $8.5 billion cash dividend to 21st Century Fox, representing an estimate of such tax liability. If the final tax liability of 21st Century Fox is less than such amount, the first $2 billion of that adjustment will be made by a net reduction in the amount of the cash dividend to 21st Century Fox from new Fox. The amount of such tax liabilities will depend on several factors, including tax rates in effect at the time of closing as well as market values of Fox following the closing.

    Upon closing of the spin-off transaction, 21st Century Fox’s shareholders would receive one share of common stock in new Fox for each same class 21st Century Fox share currently held.  Following the separation, new Fox would maintain two classes of common stock: Class A Common and Class B Common Voting Shares. Details of the spin-off transaction distribution will be included in the registration statement that will be filed with the Securities and Exchange Commission.

    As part of the definitive agreement with Disney announced today, 21st Century Fox shareholders will receive 0.2745 Disney shares for each 21st Century Fox share in the merger.  The per share consideration is subject to adjustment up or down for certain tax liabilities arising from the spinoff and other transactions related to the acquisition. Terms of the transaction call for Disney to issue approximately 515 million new shares to 21st Century Fox shareholders, representing approximately a 25 percent stake in Disney on a pro forma basis. The transaction values the merged 21st Century Fox business at $28 per share using a reference Disney share price of $102 and at nearly $30 per share based on Disney’s closing share price on December 13, 2017. This equates to a total enterprise value of approximately $69 billion.

    The merger is subject to customary conditions, including regulatory and shareholder approval.

    Combining with Disney are 21st Century Fox’s critically acclaimed film production businesses including Twentieth Century Fox, Fox Searchlight and Fox 2000, which together offer diverse and compelling storytelling businesses and are the homes of Avatar, X-Men, Fantastic Four and Deadpool, as well as The Grand Budapest Hotel, Hidden Figures, Gone Girl, The Shape of Water, and The Martian– and its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21, who have brought The Americans, This Is Us, Modern Family, The Simpsons, and so many more hit TV series to viewers across the globe.

    New Fox Assets

    Fox News Channel (FNC): 24-hour all-encompassing news service dedicated to delivering breaking news as well as political and business news. FNC has been the number one cable news channel in the country for 63 straight quarters, and more recently has been the top basic cable network.  FNC is available in approximately 90 million homes and dominates the cable news landscape, routinely notching the top ten programs in the genre.

    Fox Broadcasting Company (FOX): Home to some of the highest-rated and most acclaimed series on television as well as the most sought after sports properties, it is viewed by nearly 100 million households each month, airing 15 hours of primetime programming a week, as well as major sporting events and Sunday morning news.  Through the Fox Now app, Fox viewers can watch full episodes of their favourite Fox shows on a variety of digital platforms, while enjoying enhanced interactive and social capabilities around those shows.

    Fox Business Network (FBN): Financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street, Fox Business Network has been the number one business network for four consecutive quarters. FBN launched in October 2007 and is available in more than 80 million homes in major markets across the United States. The network has bureaus in Chicago, Los Angeles, Washington, DC and London.

    FOX Television Stations Group: One of the nation’s largest owned-and-operated network broadcast groups, comprising 28 stations in 17 markets and covering over 37 per cent of US television homes. This includes a presence in nine out of the 10 largest metro areas in the US including seven duopolies in the top 10 markets: New York, Los Angeles, Chicago, Dallas, San Francisco, Washington, DC and Houston; as well as duopolies in Phoenix, Minneapolis, Orlando and Charlotte. 

    FS1 and FS2: FS1 is a popular sports cable network launched in 2013 in approximately 90 million homes boasting nearly 5,000 hours of live event, news and original programming annually. FS1 has several pillar sports: college basketball and football, MLB, NASCAR, NFL (ancillary programs), international soccer, Bundesliga, UFC, Premier Boxing Champions (PBC) and USGA. Major events televised on FS1 include the US Open, MLB Postseason, the FIFA 2018 and 2022 World Cup and the FIFA Women’s World Cup in 2019. FS2 was founded in 2013 and is focused on extreme sports, including skateboarding, snowboarding, wakeboarding, motocross, surfing, mixed martial arts, BMX and FMX. FS2 is available in approximately 50 million homes.

    Big Ten Network: The first internationally distributed network dedicated to covering America’s most storied collegiate conferences. Covering over 1,000 sporting events each year, including football, basketball, Olympic sports and championship events and award-winning original programming, in-depth studio analysis and classic games. The network is in approximately 50 million homes across the United States and Canada, including carriage by all the major video distributors.

    Also read:

    With Star India, Disney emerges as India’s largest M&E firm

    Disney to buy 21st Century Fox assets for $52.4 billion

    Disney expected to announce 21 CF buyout tomorrow: media reports

    Now, Comcast in talks to buy 21st Century Fox

     

  • Q3-16: Affiliate & Advertising revenues prop 21st Century Fox revenue 5.7 percent

    Q3-16: Affiliate & Advertising revenues prop 21st Century Fox revenue 5.7 percent

    BENGALURU:  Rupert Murdoch’s Twenty-First Century Fox Inc. ( 21st Century Fox) reported 5.7 percent year-on-year (y-o-y) growth in adjusted total revenue (revenue) for its third quarter ended 31 March 2016 (Q3-16, current quarter). 21st Century Fox reported revenue of $7,228 million in the current quarter as compared to $6,840 million in the corresponding year ago quarter. This revenue growth reflects higher affiliate and advertising revenues at both the Cable Network Programming and Television segments partially offset by lower television production revenues at the Filmed Entertainment segment. The adverse impact of foreign exchange rates in the current quarter impacted revenue growth by $204 million, or 3 percent in total.

    Affiliates fees in Q3-16 increased 7.3 percent y-o-y to $2,939 million as compared to $2,740 million. Advertising revenue in the current quarter increased 3.6 percent to $1,907 million as compared to $1,840 million in the corresponding year ago quarter. Content revenue in Q3-16 increased 4.5 percent y-o-y to $2,288 million to $2,189 million. ‘Other’ revenue in Q3-16 increased 32.4 percent y-o-y to $94 million from $71 million.

    Quarterly total segment operating income before depreciation and amortization (OIBDA) of $1,881 million increased $204 million, or 12.2 percent, from the $1,677 million of quarterly OIBDA reported in the prior year. The increase principally reflects double digit OIBDA growth at each of the company’s Filmed Entertainment and Cable Network Programming segments partially offset by lower contributions from the Television segment. The adverse impact of foreign exchange rates impacted OIBDA growth by $110 million, or 7 percent.

    21st Century Fox reported quarterly income from continuing operations attributable to stockholders of $844 million ($0.44 per share), compared with $990 million ($0.47 per share) in the prior year. Excluding the net income effects of Other, net and gains and other adjustments related to Sky plc and Endemol Shine Group included in equity losses from affiliates, adjusted quarterly earnings per share from continuing operations attributable to stockholders was $0.47 compared with the adjusted year-ago result of $0.42.

    21st Century Fox executive chairmen Rupert and Lachlan Murdoch said: “We delivered significant revenue and earnings growth in the quarter on the strength of gains in affiliate and advertising revenues across our domestic and international cable portfolios as well as at our television segment. Whether it was Fox News outranking all of basic cable for the first time, FX delivering the year’s most watched new cable show with The People v. O.J. Simpson: American Crime Story, or Star Sports remaking televised sports in India, the unique appeal of our industry leading brands and premium content has never been clearer. This strength extended to our film studio, which broke global box office records and expanded a global franchise with Deadpool, while delivering its second strongest quarterly earnings ever. The demonstrated value of our brands and our outstanding creative content will drive our businesses forward in both the existing and evolving media marketplace.”

    Cable Networking Programming (CNP)

    CNP revenue in Q3-16 increased 9.8 percent y-o-y to $3,941 million as compared to $3,590 million. Cable Network Programming quarterly segment OIBDA increased 11.5 percent to $1,375 million driven by a 10 percent revenue increase on higher affiliate revenues and low double digit advertising revenue growth, partially offset by a 9 percent increase in expenses.

    Domestic affiliate revenue increased 7 percent reflecting sustained growth at FX Networks and FS1. Domestic advertising revenue grew 17 percent over the corresponding prior year quarter reflecting higher ratings and pricing at Fox News and a higher number of National Basketball Association games played in the current quarter at the Regional Sports Networks as well as the impact from the consolidation of the National Geographic non-channels businesses. Domestic OIBDA contributions increased 7 percent over the Q3-15 led by higher contributions from FS1, Fox News and FX Networks.

    International affiliate revenue increased 6 percent driven by strong local currency growth at the Star India and Fox Networks Group International (FNG International) channels, formally known as Fox International Channels, or FIC, which was partially offset by a negative 14 percent impact from the strengthened US dollar. International advertising revenue increased 6 percent as local currency growth at the Star India and FNG International entertainment channels was partially offset by a negative 11 percent impact from the strengthened US dollar. Quarterly OIBDA at the international cable channels increased 67 percent reflecting strong growth at the Star India channels due to both higher affiliate and advertising revenues at the entertainment channels and lower rights costs at the sports channels due to the absence of the prior year broadcast of the ICC Cricket World Cup.

    Television

    Television revenue increased 5 percent y-o-y in Q3-16 to $1,298 million from $1,237 million in Q3-15. Television generated quarterly segment OIBDA in Q3-16 of $125 million, a $16 million decrease from the $141 million reported in Q3-15. Quarterly segment revenues were 5 percent higher than in Q1-15 due to strong retransmission consent revenue growth and higher advertising revenues led by higher political spending at the TV stations. The decrease in segment OIBDA was driven by higher contractual sports programming costs at the Fox Broadcast Network that more than offset the higher revenues.

    Filmed Entertainment

    Filmed Entertainment segment reported a 2.8 percent y-o-y decline in revenue to $2,321 million in Q3-16 as compared to $2,389 million in Q1-15. Filmed Entertainment generated quarterly segment OIBDA of $470 million, an increase of $88 million, or 23 percent, from the $382 million reported in the same period a year-ago. The OIBDA increase was driven by higher contributions from the film studio, led by the record-breaking worldwide theatrical release of Deadpool, which has grossed over $760 million in worldwide box office to date and is the top grossing R-rated movie ever, partially offset by lower television production results reflecting the absence of the network delivery of Glee, which aired its final season on the Fox Broadcast Network last year. Q3-16 segment revenues decreased primarily reflecting lower worldwide home entertainment and television production revenues and a 3 percent negative impact from foreign exchange rate fluctuations, partially offset by higher worldwide theatrical revenues, led by the theatrical release of Deadpool. Foreign exchange fluctuations adversely impacted segment OIBDA growth by 13 percent.

     

  • Q3-16: Affiliate & Advertising revenues prop 21st Century Fox revenue 5.7 percent

    Q3-16: Affiliate & Advertising revenues prop 21st Century Fox revenue 5.7 percent

    BENGALURU:  Rupert Murdoch’s Twenty-First Century Fox Inc. ( 21st Century Fox) reported 5.7 percent year-on-year (y-o-y) growth in adjusted total revenue (revenue) for its third quarter ended 31 March 2016 (Q3-16, current quarter). 21st Century Fox reported revenue of $7,228 million in the current quarter as compared to $6,840 million in the corresponding year ago quarter. This revenue growth reflects higher affiliate and advertising revenues at both the Cable Network Programming and Television segments partially offset by lower television production revenues at the Filmed Entertainment segment. The adverse impact of foreign exchange rates in the current quarter impacted revenue growth by $204 million, or 3 percent in total.

    Affiliates fees in Q3-16 increased 7.3 percent y-o-y to $2,939 million as compared to $2,740 million. Advertising revenue in the current quarter increased 3.6 percent to $1,907 million as compared to $1,840 million in the corresponding year ago quarter. Content revenue in Q3-16 increased 4.5 percent y-o-y to $2,288 million to $2,189 million. ‘Other’ revenue in Q3-16 increased 32.4 percent y-o-y to $94 million from $71 million.

    Quarterly total segment operating income before depreciation and amortization (OIBDA) of $1,881 million increased $204 million, or 12.2 percent, from the $1,677 million of quarterly OIBDA reported in the prior year. The increase principally reflects double digit OIBDA growth at each of the company’s Filmed Entertainment and Cable Network Programming segments partially offset by lower contributions from the Television segment. The adverse impact of foreign exchange rates impacted OIBDA growth by $110 million, or 7 percent.

    21st Century Fox reported quarterly income from continuing operations attributable to stockholders of $844 million ($0.44 per share), compared with $990 million ($0.47 per share) in the prior year. Excluding the net income effects of Other, net and gains and other adjustments related to Sky plc and Endemol Shine Group included in equity losses from affiliates, adjusted quarterly earnings per share from continuing operations attributable to stockholders was $0.47 compared with the adjusted year-ago result of $0.42.

    21st Century Fox executive chairmen Rupert and Lachlan Murdoch said: “We delivered significant revenue and earnings growth in the quarter on the strength of gains in affiliate and advertising revenues across our domestic and international cable portfolios as well as at our television segment. Whether it was Fox News outranking all of basic cable for the first time, FX delivering the year’s most watched new cable show with The People v. O.J. Simpson: American Crime Story, or Star Sports remaking televised sports in India, the unique appeal of our industry leading brands and premium content has never been clearer. This strength extended to our film studio, which broke global box office records and expanded a global franchise with Deadpool, while delivering its second strongest quarterly earnings ever. The demonstrated value of our brands and our outstanding creative content will drive our businesses forward in both the existing and evolving media marketplace.”

    Cable Networking Programming (CNP)

    CNP revenue in Q3-16 increased 9.8 percent y-o-y to $3,941 million as compared to $3,590 million. Cable Network Programming quarterly segment OIBDA increased 11.5 percent to $1,375 million driven by a 10 percent revenue increase on higher affiliate revenues and low double digit advertising revenue growth, partially offset by a 9 percent increase in expenses.

    Domestic affiliate revenue increased 7 percent reflecting sustained growth at FX Networks and FS1. Domestic advertising revenue grew 17 percent over the corresponding prior year quarter reflecting higher ratings and pricing at Fox News and a higher number of National Basketball Association games played in the current quarter at the Regional Sports Networks as well as the impact from the consolidation of the National Geographic non-channels businesses. Domestic OIBDA contributions increased 7 percent over the Q3-15 led by higher contributions from FS1, Fox News and FX Networks.

    International affiliate revenue increased 6 percent driven by strong local currency growth at the Star India and Fox Networks Group International (FNG International) channels, formally known as Fox International Channels, or FIC, which was partially offset by a negative 14 percent impact from the strengthened US dollar. International advertising revenue increased 6 percent as local currency growth at the Star India and FNG International entertainment channels was partially offset by a negative 11 percent impact from the strengthened US dollar. Quarterly OIBDA at the international cable channels increased 67 percent reflecting strong growth at the Star India channels due to both higher affiliate and advertising revenues at the entertainment channels and lower rights costs at the sports channels due to the absence of the prior year broadcast of the ICC Cricket World Cup.

    Television

    Television revenue increased 5 percent y-o-y in Q3-16 to $1,298 million from $1,237 million in Q3-15. Television generated quarterly segment OIBDA in Q3-16 of $125 million, a $16 million decrease from the $141 million reported in Q3-15. Quarterly segment revenues were 5 percent higher than in Q1-15 due to strong retransmission consent revenue growth and higher advertising revenues led by higher political spending at the TV stations. The decrease in segment OIBDA was driven by higher contractual sports programming costs at the Fox Broadcast Network that more than offset the higher revenues.

    Filmed Entertainment

    Filmed Entertainment segment reported a 2.8 percent y-o-y decline in revenue to $2,321 million in Q3-16 as compared to $2,389 million in Q1-15. Filmed Entertainment generated quarterly segment OIBDA of $470 million, an increase of $88 million, or 23 percent, from the $382 million reported in the same period a year-ago. The OIBDA increase was driven by higher contributions from the film studio, led by the record-breaking worldwide theatrical release of Deadpool, which has grossed over $760 million in worldwide box office to date and is the top grossing R-rated movie ever, partially offset by lower television production results reflecting the absence of the network delivery of Glee, which aired its final season on the Fox Broadcast Network last year. Q3-16 segment revenues decreased primarily reflecting lower worldwide home entertainment and television production revenues and a 3 percent negative impact from foreign exchange rate fluctuations, partially offset by higher worldwide theatrical revenues, led by the theatrical release of Deadpool. Foreign exchange fluctuations adversely impacted segment OIBDA growth by 13 percent.

     

  • 21st Century Fox sees growth in cable & television; film segment disappoints

    21st Century Fox sees growth in cable & television; film segment disappoints

    MUMBAI: Twenty-First Century Fox, Inc. (21st Century Fox) reported total quarterly revenues of $6.08 billion in the quarter ended 30 September, 2015, which is a decrease of $406 million, or six per cent from the $6.48 billion of adjusted revenues reported in the prior year.

     

    This decline in adjusted revenues was primarily the result of a seven per cent revenue increase at the Cable Network Programming segment due to higher affiliate and advertising revenues being more than offset by lower revenues generated at the Filmed Entertainment segment due to lower theatrical revenues and the absence of revenues from Shine in the current quarter.

     

    The adverse impact of foreign exchange rates and the absence of revenues from Shine in the current quarter each impacted adjusted revenue growth by approximately $200 million, or six per cent in total.

     

    Quarterly total segment operating income before depreciation and amortization (OIBDA) of $1.54 billion decreased $37 million, or two per cent, from the $1.57 billion of adjusted OIBDA reported in the prior year. This decline in adjusted OIBDA reflects double-digit growth at both the company’s Cable Network Programming and Television segments, which was more than offset by reduced contributions from the Filmed Entertainment segment. The adverse impact of foreign exchange rates impacted adjusted OIBDA growth by $109 million, or seven per cent.

     

    The company reported quarterly income from continuing operations attributable to stockholders of $678 million ($0.34 per share), compared with $1.04 billion ($0.48 per share) in the prior year.

     

    Excluding the net income effects of Other, net and gains and other adjustments related to Sky and Endemol Shine Group included in Equity earnings from affiliates, adjusted quarterly earnings per share from continuing operations attributable to stockholders was $0.38 compared with the adjusted year-ago result of $0.39.

     

    Commenting on the results, 21st Century Fox executive chairman Rupert Murdoch said, “Our cable networks business generated strong growth in the first fiscal quarter, delivering double-digit earnings gains both domestically and internationally on sustained increases in overall affiliate fees, higher advertising revenues and lower expenses. Our quarterly results also reflect the expected impact of challenging comparisons for our film studio due to the timing of key releases, as well as the poor performance of The Fantastic Four. We are pleased with the recent success of The Martian, and as we look forward, we have an exciting film slate, which includes this weekend’s The Peanuts Movie, the holiday release of Joy, as well as the summer releases of the newest X-Men and Independence Day. Good progress is being made at the Fox Network both from our returning series, including the continued success of Empire, as well as some of our new series. We are focused on creating compelling storytelling and enhancing the customer experience of our digital video brands as we respond to changing consumer preferences.”

     

    CABLE NETWORK PROGRAMMING

     

    Cable Network Programming quarterly segment OIBDA increased 26 per cent to $1.31 billion, driven by a seven per cent revenue increase on strong affiliate revenue growth and higher advertising revenues combined with lower expenses. The two per cent decline in expenses was primarily due to the absence of the prior year broadcast of the India vs. England cricket series at Star Sports. Foreign exchange fluctuations, primarily in Latin America and Europe, adversely impacted segment OIBDA growth by five per cent.

     

    Domestic affiliate revenue increased 11 per cent reflecting strong growth at FS1 and sustained growth across all of the other domestic cable networks. Domestic advertising revenue grew four per cent over the prior year period reflecting solid growth at the sports channels and Fox News. Domestic OIBDA contributions increased 19 per cent over the prior year led by higher contributions from FS1, FX Networks and Fox News.

     

    International affiliate revenue decreased one per cent as 11 per cent local currency growth at Star and the Fox International Channels (FIC) was more than offset by a 12 per cent adverse impact from the strengthened US dollar.

     

    International advertising revenue decreased one per cent as continued local currency growth at FIC and the Star entertainment channels was offset by an 11 per cent adverse impact from the strengthened US dollar as well as the absence of advertising revenues from the prior year broadcast of the India vs. England cricket series at Star Sports. Quarterly OIBDA at the international cable channels increased 53 per cent reflecting strong local currency growth partially offset by the adverse impact of the strengthened US dollar.

     

    TELEVISION

     

    Television generated quarterly segment OIBDA of $196 million, a $22 million or 13 per cent increase over the $174 million reported in the prior year quarter. The increase in segment OIBDA was driven by lower operating costs led by lower programming expenses at the Fox Broadcast Network and TV stations partially offset by higher marketing costs at the Fox Broadcast Network. Quarterly segment revenues were consistent with those from the corresponding period in the prior year as strong retransmission consent revenue growth was counterbalanced by a five per cent decline in advertising revenues primarily reflecting the expected impact of one less week of National Football League broadcasts in the current quarter as compared to the prior year quarter and lower political revenues at the TV stations, as well as lower general entertainment ratings at the Fox Broadcast Network.

     

    FILMED ENTERTAINMENT

     

    Filmed Entertainment generated quarterly segment OIBDA of $149 million, a $309 million decrease from the $458 million reported in the same period a year-ago. 

     

    Quarterly segment revenues decreased $691 million to$1.79 billion,primarily reflecting lower worldwide theatrical revenues, the absence of revenue contributions from Shine, lower syndication revenues reflecting the sale of How I Met Your Mother in the prior year and the adverse impact of the strengthened US dollar. The OIBDA decline over the prior year reflects lower contributions from the film studio attributable to the difficult comparisons to last year’s successful worldwide theatrical performance of Dawn of the Planet of the Apes and the home entertainment performance of Rio 2 with this year’s worldwide theatrical release of The Fantastic Four in August as well as higher theatrical pre-release costs in the current year primarily related to the successful worldwide theatrical release of The Martian in early October, which has grossed over $430 million in worldwide box office to date. Segment OIBDA comparisons were also adversely impacted by lower contributions from the television production businesses and a negative comparative 11 per cent impact from foreign exchange rate fluctuations.

  • Emmy Awards: ‘Game of Thrones’ sets record, HBO bags 43 awards

    Emmy Awards: ‘Game of Thrones’ sets record, HBO bags 43 awards

    MUMBAI: HBO’s hugely popular show Game of Thrones has set a record of sorts by becoming a series winning most awards in a single year. The show totted a record 12 awards from its 24 nominations. 

     

    With a whopping 43 statuettes, HBO took home the most number of awards beating the second in line NBC, which took home 12 awards, by a huge margin. Comedy Central and FX Networks tied at the third spot with a total of eight wins.

     

    This is for the first time in Game of Thrones’ six season history that it took home the best drama series award at the 67th Emmy Awards, which were held Los Angeles. Additionally, the show also won the Emmys for best directing and best writing. Actor Peter Dinklage, who essays the role of Tyrion Lannister in the series, won for best supporting actor in a drama.

     

    On the other hand, the award for lead actor in a drama series went to Jon Hamm for his role as Don Draper in Mad Men. Viola Davis took home the Emmy for lead actress in a drama series for How To Get Away With Murder.

     

    HBO also bagged the Emmy for best comedy series for Veep as well as best mini-series for Olive Kitteridge, which is based on the Pulitzer prize winning short stories by Elizabeth Strout. The mini-series won in almost every category for which it was nominated and took home six Emmys at the end of the night.

     

    The complete list of winners is as follows:

     

    OUTSTANDING WRITING FOR A COMEDY SERIES — HBO

    SIMON BLACKWELL (Teleplay and Story)

    ARMANDO IANNUCCI (Story)

    TONY ROCHE (Teleplay and Story)

    Veep

    Election Night

     

    OUTSTANDING SUPPORTING ACTOR IN A COMEDY SERIES — HBO

    TONY HALE as Gary Walsh

    Veep

     

    OUTSTANDING DIRECTING FOR A COMEDY SERIES — AMAZON INSTANT VIDEO

    JILL SOLOWAY (Directed)

    Transparent

    Best New Girl

     

    OUTSTANDING LEAD ACTOR IN A COMEDY SERIES — AMAZON INSTANT VIDEO

    JEFFREY TAMBOR as Maura Pfefferman

    Transparent

     

    OUTSTANDING LEAD ACTRESS IN A COMEDY SERIES — HBO

    JULIA LOUIS-DREYFUS as President Selina Meyer

    Veep

     

    OUTSTANDING REALITY-COMPETITION PROGRAM — NBC

    The Voice

     

    OUTSTANDING WRITING FOR A LIMITED SERIES, MOVIE OR A DRAMATIC SPECIAL — HBO

    JANE ANDERSON (Teleplay)

    Olive Kitteridge

     

    OUTSTANDING SUPPORTING ACTRESS IN A LIMITED SERIES OR A MOVIE — ABC

    REGINA KING as Aliyah Shadeed

    American Crime

     

    OUTSTANDING DIRECTING FOR A LIMITED SERIES, MOVIE OR A DRAMATIC SPECIAL — HBO

    LISA CHOLODENKO (Directed)

    Olive Kitteridge

     

    OUTSTANDING SUPPORTING ACTOR IN A LIMITED SERIES OR A MOVIE — HBO

    BILL MURRAY as Jack Kenninson

    Olive Kitteridge

     

    OUTSTANDING LEAD ACTRESS IN A LIMITED SERIES OR A MOVIE — HBO

    FRANCES MCDORMAND as Olive Kitteridge

    Olive Kitteridge

     

    OUTSTANDING LEAD ACTOR IN A LIMITED SERIES OR A MOVIE — HBO

    RICHARD JENKINS as Henry Kitteridge

    Olive Kitteridge

     

    OUTSTANDING LIMITED SERIES — HBO

    OLIVE KITTERIDGE

     

    OUTSTANDING WRITING FOR A VARIETY SERIES — COMEDY CENTRAL

    The Daily Show With Jon Stewart

     

    OUTSTANDING VARIETY SKETCH SERIES

    INSIDE AMY SCHUMER — COMEDY CENTRAL

     

    OUTSTANDING DIRECTING FOR A VARIETY SERIES

    CHUCK O’NEIL (Directed) — COMEDY CENTRAL

    The Daily Show With Jon Stewart

    Show 20103

     

    OUTSTANDING VARIETY TALK SERIES

    THE DAILY SHOW WITH JON STEWART — COMEDY CENTRAL

     

    OUTSTANDING WRITING FOR A DRAMA SERIES

    DAVID BENIOFF (Written) — HBO

    D.B. WEISS (Written)

    Game Of Thrones

    Mother’s Mercy

     

    OUTSTANDING SUPPORTING ACTRESS IN A DRAMA SERIES

    UZO ADUBA as Suzanne “Crazy Eyes” Warren — NETFLIX

    Orange Is The New Black

     

    OUTSTANDING DIRECTING FOR A DRAMA SERIES

    DAVID NUTTER, Directed by— HBO

    Game Of Thrones

    Mother’s Mercy

     

    OUTSTANDING SUPPORTING ACTOR IN A DRAMA SERIES

    PETER DINKLAGE as Tyrion Lannister — HBO

    Game Of Thrones

     

    OUTSTANDING LEAD ACTOR IN A DRAMA SERIES

    JON HAMM as Don Draper — AMC

    Mad Men

     

    OUTSTANDING LEAD ACTRESS IN A DRAMA SERIES

    VIOLA DAVIS as Annalise Keating — ABC

    How To Get Away With Murder

     

    OUTSTANDING COMEDY SERIES 

    VEEP — HBO

     

    OUTSTANDING DRAMA SERIES

    GAME OF THRONES — HBO

     

    The 67th Emmy Awards were hosted by Andy Samberg and produced by Don Mischer Productions. The telecast of the awards will showcase talent and entertainers like Lady Gaga, Rob Lowe, Tina Fey, James Corden, Jimmy Kimmel, Viola Davis, Gina Rodriguez and LL Cool J.

  • FY-2015: Cable and Filmed Entertainment boost Fox op income 3.1%

    FY-2015: Cable and Filmed Entertainment boost Fox op income 3.1%

    BENGALURU: Rupert Murdoch’s Twenty-First Century Fox Inc. (Fox) reported a 3.1 per cent increase in adjusted annual total segment operating income before depreciation and amortisation (OIBDA) of $6488 million for the year ended 30 June, 2015 (FY-2015) as compared to the $6291 million last year due to higher contributions from the company’s Cable Network Programming and Filmed Entertainment segments.

     

    The company reported total revenues in FY-2015 of $28.99 billion, a $2.88 billion decrease from prior year revenues of $31.87 billion. Excluding the net revenues from the Direct Broadcast Satellite Television (DBS) businesses, Sky Italia and Sky Deutschland AG, which were sold in November 2014 to Sky plc (Sky), in both years, adjusted revenues increased $890 million, or 3.4 per cent, over the $26.06 billion of adjusted revenues in the prior year. This increase was primarily driven by double-digit revenue growth at the Cable Network Programming segment.

     

    Fox reported annual total segment operating income before depreciation and amortization (OIBDA) of $6.72 billion, which is equal to the amount reported in the prior year. Excluding the OIBDA contributions from the DBS businesses in both years, OIBDA increased $197 million, or the above mentioned 3.1 per cent, over the $6.29 billion of adjusted OIBDA in the prior year.

     

    Company Speak

     

    Fox executive chairman Rupert Murdoch said, “We made clear operational strides over the last year that will further position us to benefit from the strong and growing global demand for high quality video content. We delivered a solid financial performance, driven by sustained gains in affiliate fees, while we continued to invest in building our new channels Fox Sports 1, FXX and Star Sports. The appeal of our new sports rights resonated with consumers globally, whether it was Star Sports in India setting new records with hundreds of millions of viewers for the ICC Cricket World Cup, or the more than 25 million viewers who watched the Women’s World Cup Final on Fox. Our film studio achieved outstanding critical and box-office success with a truly diverse range of films and we are proud of the creative excellence that earned it the most Academy Awards in the industry. Our company is well positioned for this time of opportunity in our industry. We will balance the utilization of our strong balance sheet to drive growth. Today’s announcement of our new $5 billion buyback authorization reflects our ongoing program to provide direct shareholder returns.”

     

    Cable Network Programming

     

    Cable Network Programming annual segment OIBDA increased five per cent to $4.65 billion, driven by a 12 per cent revenue increase led by continued strong affiliate revenue growth and higher advertising revenues. The revenue improvement was partially offset by a 16 per cent increase in expenses, representing higher sports programming costs driven by the broadcasts of the ICC Cricket World Cup at Star Sports, increased Major League Baseball and NASCAR rights costs at Fox Sports 1 (FS1), and higher professional team rights costs at the regional sports networks (RSNs) as well as increased entertainment programming costs at FX Networks. The segment OIBDA growth was adversely impacted by five per cent from foreign exchange rate fluctuations, primarily in Latin America and Europe.

     

    Domestic affiliate revenue increased 17 per cent reflecting the combination of sustained growth at the regional sports networks (RSNs), Fox News Channel and FX Networks, increased contribution from FS1, and the consolidation of the Yankees Entertainment and Sports Network (the YES Network). International affiliate revenue increased three per cent driven by strong local currency growth at the Fox International Channels (FIC) and Star, partially offset by a 12 per cent adverse impact from the strengthened US dollar.

     

    Domestic advertising revenue grew four per cent over the prior year period led by double-digit growth at the sports channels, including the impact of the consolidation of the YES Network, as well as growth at Fox News and FX Networks. International advertising revenue increased 14 per cent due to strong local currency growth at Star and FIC, which was partially offset by a five per cent adverse impact from the strengthened US dollar.

     

    OIBDA from the domestic channels increased 12 per cent from the prior year, led by strong double-digit growth at the RSNs, which includes the impact of the consolidation of the YES Network, as well as higher contributions from Fox News Channel and National Geographic Channels. Annual OIBDA at the company’s international cable channels declined 16 per cent from the prior year as double digit local currency growth at the FIC channels and Star entertainment channels was more than offset by the impact of the ICC Cricket World Cup at Star Sports and the adverse impact from the strengthened US dollar, primarily in Latin America and Europe.

     

    Television

     

    Full year segment OIBDA of $718 million decreased $164 million or 19 per cent versus the prior year. The decline principally reflects the absence of advertising revenue and OIBDA generated from the broadcast of the Super Bowl in the prior year. Excluding the impact of the Super Bowl in the prior year, segment revenues were consistent with the year ago as strong retransmission consent revenue growth was counterbalanced by a 6 percent decline in advertising revenues reflecting overall lower general entertainment ratings at the Fox Broadcast Network.

     

    Filmed Entertainment

     

    Full year segment OIBDA of $1.45 billion increased $87 million, or six per cent, over prior year amounts reflecting higher film studio contributions partially offset by lower contributions from the television production businesses and the absence of full year contributions from Shine Group (Shine), which was contributed into the Endemol Shine Group joint venture in December 2014. The film studio’s growth was led by strong worldwide theatrical and home entertainment performance across a diverse set of releases, including Dawn of the Planet of the Apes, The Fault In Our Stars, Taken 3, Gone Girl, Kingsman: The Secret Service and The Maze Runner as well as the home entertainment performance of Rio 2. The film studio’s commercial and creative success was further highlighted by the all-time industry record it set of more than $5.5 billion in global box-office receipts for calendar 2014, as well as its industry leading eight Academy Awards for Fox Searchlight, including Best Picture for Birdman: Or (The Unexpected Virtue of Ignorance). Segment OIBDA growth was also adversely impacted by nine per cent from foreign exchange rate fluctuations.

     

    Total equity (losses) earnings of affiliates

     

    Annual equity earnings from affiliates were $904 million as compared with $622 million in the prior year. The increased contributions from affiliates reflects increased contributions from Sky primarily resulting from the Company’s share of Sky’s gains on the sale of its ownership stakes in National Geographic Channels International, Sky Betting & Gaming (Sky Bet) and its shares in ITV partially offset by purchase price amortization recorded by Sky related to its acquisition of the DBS businesses from the Company, as well as the absence of pre-tax gains related to the Company’s participation in Sky’s share repurchase program which ended last fiscal year. The higher Sky contributions were partially offset by the inclusion of equity losses of Endemol Shine Group, the absence of the YES Network contributions in the current year resulting from its consolidation in February 2014 and higher losses from Hulu.

  • ICC World Cup fees, Simpsons production costs, forex adversely impact Fox Q3-2015 OIBDA

    ICC World Cup fees, Simpsons production costs, forex adversely impact Fox Q3-2015 OIBDA

    BENGALURU: Rupert Murdoch’s Twenty-First Century Fox Inc. reported a 16.8 per cent drop in total revenue to $6840 million in the quarter ended 31 March, 2015 (Q3-2015, current quarter) as comparted to the $8219 million reported for the year ago quarter (quarter ended 31 March, 2014). Excluding net revenues for Q3-2014 from the Direct Broadcast Satellite Television (DBS) businesses, Sky Italia and Sky Deutschland AG, which were sold in November 2014 to Sky plc, adjusted revenues in Q3-2015 increased $84 million or one per cent over the $6.76 billion of adjusted revenue in Q3-2014.

     

    The company’s operating income before depreciation and amortisation fell by $110 million (6.2 per cent) to $1677 million in Q3-2015 from $1787 million in Q3-2014. The company’s Television segment reported a fall of OIBDA to $141 million, which was less than half (49 per cent) of the $288 million reported for Q3-2014. The company attributes the decline in OIBDA to the absence of revenues generated from the broadcast of Super Bowl XLVIII in the prior year and higher entertainment programming costs at the Fox Broadcasting Network from a higher volume of original series, including Glee and Empire, in the current year quarter as compared to more series repeats in Q3-2014.

     

    While its biggest segment in terms of revenues – Cable Network Programming reported an OIBDA improvement of $57 million (4.8 per cent increase) to $1233 million in Q3-2015. OIBDA increment by the segment would have been even higher, but for the impact of 19 per cent increase in segment expenses lead by the planned investments in new channels, primarily Star Sports and FXX, says the company.

     

    Increased Cable Network Programming segment expenses included increased rights fees related to the broadcast of the ICC Cricket World Cup at Star Sports and increased programming costs at FXX led by The Simpsons. International advertising revenue for the segment increased 24 per cent due to strong local currency growth at Star, driven by the broadcast of the ICC Cricket World Cup, and local currency growth at the FIC channels partially offset by the negative five per cent impact from foreign exchange rate fluctuations.

     

    For the nine month period ended 31 March, 2015 (9M-2015), Fox reported revenue of $22782 million as compared to the $23443 million in 9M-2014. Eliminating the revenue by its DBS business (without accounting for the impact of DBS on corporate eliminations) in the current nine month and 9M-2014 periods, 9M-2015 revenue was $ 20620 million and 9M-2014 revenue was $19006 million, reflecting an 8.5 per cent growth.

     

    Fox OIBDA for 9M-2015 was $5178 million as compared to the $4949 million in 9M-2014. Neglecting DBS OIBDA (without accounting for the impact of DBS on corporate eliminations), the company’s adjusted OIBDA for 9M-2015 was $4944 million, which was 5.8 per cent more than the $4671 million reported for 9M-2014.

     

    Segment Results

     

    Cable Network Programming

     

    This segment reported 12.5 per cent increase in revenue to $3590 million in the current quarter from $3152 million in Q3-2014. Over the nine month period (9M-2015), the segment reported 14.2 per cent increase in revenue to $10205 million from $8296 million in Q3-2015.

     

    The segment’s OIBDA for Q3-2015 has been mentioned above. For 9M-2015, segment OIBDA improved seven per cent to $3430 million from $3205 million in 9M-2014.

     

    Domestic (US) affiliate revenue grew 20 per cent in Q3-2015, reflecting the combination of sustained growth at the regional sports networks, Fox News Channel and FX Networks, increased contribution from Fox Sports 1, and the consolidation of the Yankees Entertainment and Sports Network (the Yes Network). International affiliate revenue increased 2 per cent driven by strong local currency growth at the Fox International Channels and Star channels which was partially offset by a 13 per cent adverse impact from the strengthened US dollar.

     

    Domestic advertising revenue was flat y-o-y due to lower ratings at FX Networks and National Geographic Channel.

     

    Television

     

    This segment reported a drop of 22 per cent in revenue in Q3-2015 to $1237 million from $1587 million in the corresponding year ago quarter. For 9M-2015, Television segment reported a revenue drop of 8.4 per cent to $3430 million in Q3-2015 from $4265 million in 9M-2014.

     

    Television segment OIBDA in 9M-2015 fell 17.9 per cent ($132 million) to $605 million from $737 million in 9M-2014.

     

    Filmed Entertainment

     

    This segment reported 4.8 per cent improvement in revenue to $2389 million in Q3-2015 as compared to the $2279 million in Q3-2014. For 9M-2015, Filmed Entertainment segment revenue rose 10.8 per cent to $7618 million from $6876 million in 9M-2014.

     

    Segment OIBDA for Q3-2015 improved 7.9 per cent to $382 million from $354 million in Q3-2014.Filmed Entertainment OIBDA improved 15.4 per cent in 9M-2015 to $1176 million from $1019 million in 9M-2014.

     

    The company says that the growth was driven by the successful theatrical releases Taken 3and Kingsman: The Secret Service in the current quarter, which have grossed over $320 million and $400 million in worldwide box office to date, respectively, and theatrical and home entertainment contributions from Penguins of Madagascar. This growth was partially offset by lower contributions from the television production business due to lower SVOD revenues resulting from the prior year sale of several series to Amazon, including 24 and The Americans, and from the adverse impact from the strengthened US dollar.

  • Sky and FX Networks partner to co-fund and co-develop brand new comedy

    Sky and FX Networks partner to co-fund and co-develop brand new comedy

    MUMBAI: On Thursday, 20 March, Sky and FX Networks announced an agreement to work together to develop brand new post-watershed comedy for audiences on both sides of the Atlantic. The two-year agreement will see Sky and FX Networks co-fund and co-develop new half-hour scripted comedy.

     

    If the projects are commissioned, the shows would be broadcast on Sky1 HD or Sky Atlantic HD in the UK and Ireland and FX Networks channels in the US.

     

    The co-development deal builds on Sky and FX Networks’ expertise in creating distinctive, award-winning comedy and will involve the very best on- and off-screen talent from both Britain and the US. The goal is to create new shows that will sit alongside series such as Sky’s A Touch of Cloth and Alan Partridge’s Mid-Morning Matters and FX Networks’ Louie and It’s Always Sunny in Philadelphia. Home-grown Sky shows that have previously been broadcast on US networks include An Idiot Abroad, a Young Doctor’s Notebook, Spy, Moone Boy and Doll & Em. 

     

    Sky head of comedy Lucy Lumsden, expressed her excitement about working with FX Networks to develop distinctive brand new comedy and further strengthen Sky’s commitment to original home-grown programming.

     

    FX Networks and FX Productions president of original programming Eric Schrier sates in a press release: “We are truly excited to partner with Sky and create comedies that will bridge the Atlantic and entertain audiences in both the UK and US.  This particular partnership will open doors for us to discover new comedy talent and develop their stories in this unique foreign exchange program.”  

     

    The agreement coincides with Sky launching its biggest ever year of entertainment, featuring brand new comedy and drama from stars including Chris O’Dowd, Nick Frost, Olivia Colman, Emily Mortimer and Dominic Cooper and new shows from the makers of Rev and Spooks. 

     

    Alongside new series launches, Sky has confirmed that Mount Pleasant, Trollied and the award-winning Stella will all be back for its fourth series. The deal also reinforces Sky’s commitment to producing brand new original home-grown content for customers. This year Sky will invest ?600 million in original British production across its channels.

     

    Sky began its drive into comedy in 2009 and was swiftly established as a central player in the UK television comedy landscape. Working some of the best talent in the industry and commissioning across Sky’s portfolio of channels, hit comedies number titles as diverse as Moone Boy, Doll & Em, Hunderby, Alan Partridge: Welcome to The Places of My Life, A Young Doctor’s Notebook, Spy, Psychobitches and the series of short films, Little Crackers. These comedy commissions have earned a raft of award wins at the International Emmys, the BAFTAs, the RTS Awards, British Comedy Awards, the Rose d’Or Festival and others.

     

    Titles set to launch this year include Mr Sloane created by Bob Weide (Curb Your Enthusiasm) and starring Nick Frost which debuts this spring, Charlie Brooker’s A Touch of Cloth will return for a third chapter this summer and Matthew Perry stars in Jon Ronson’s The Dog Thrower.

     

    In 2014, FX Networks will air ten original comedy series across two of its three channels, FX and FXX. FX televises the Emmy, AFI, TCA and Peabody award-winning Louie, which is the most critically-acclaimed comedy on American television, and the acclaimed animated comedies Archer and Chozen. This summer FX will launch two new comedies, Married starring Nat Faxon and Judy Greer, and You’re the Worst starring Aya Cash and Chris Geere.  The FXX comedy roster includes the acclaimed hit series It’s Always Sunny in Philadelphia, The League, Wilfred, Legit, and Ali G: Rezurection.

     

    FX Networks has been very active in comedy development and production.  In addition to the recent series orders of Married and You’re the Worst, FX Networks has seven comedy pilots in various stages of production for either FX or FXX.

     

    They include Sex&Drugs&Rock&Roll created by and starring Denis Leary; the untitled Zach Galifianakis project created by and starring Galifianakis, and produced by Galifianakis and Louis C.K.; The Comedians, from Larry Charles, Matt Nix, Ben Wexler and Billy Crystal, which stars Billy Crystal and Josh Gad; Do or Die starring Tracy Morgan; How & Why created by Charlie Kaufman and starring Michael Cera and John Hawkes; Man Seeking Woman from Simon Rich; and the animated comedy series Bigfoot from Seth Rogen and produced by Rogen and Adam Reed and Matt Thompson.