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Tag: Murdoch

  • Business news anchor Neil Cavuto says goodbye to Fox after 28 years

    Business news anchor Neil Cavuto says goodbye to Fox after 28 years

    MUMBAI: His is a familiar face if you watch Fox business news, in your hotel or when you are traveling overseas visiting relatives or friends or on business. Viewers will no longer get to see Neil Cavuto, one of the better known business news anchors, as well as the sr vice-president & managing editor of business news for both Fox News channel  (FNC) as well as Fox Business News (FBN)

    He also hosts  FNC’s Your World with Neil Cavuto, FNC’s Cavuto  Live and FBN’s Cavuto: Coast to Coast. In addition to anchoring daily programs and breaking news specials on FNC and FBN, Cavuto oversees business news content for both networks and leads special events coverage for FBN.

    Neil, 66,  announced his resignation on air during his afternoon show Your World, saying he was not leaving journalism, he was just leaving Fox.  One of the first anchors to join Fox News when it launched in 1996, he parachuted from CNBC to the Murdoch owned news station.  So he had been there for some 28-odd years.

    The bespectacled anchor used to host some 12 hours of shows every week, according to CNN. He was known to be a Trump critic and he would fact check almost every financial  and economic statement or assumption his administration or his staff would make. He believe his role as a journalist was to sift the wheat from the chaff and bring the truth to his viewers.

    But he lost a lot of his viewers – especially those who favoured the Republicans – because of his Trump trashing, though he also gained some praise from others who liked his penchant for facts.

    Trump celebrated his departure by stating: on his Truth Social platform “GOOD NEWS FOR AMERICA! Neil Cavuto, the Lowest Rated Anchor on Fox, by far, is leaving – Should have happened a long time ago!”

    According to sources, Cavuto was offered a renewal contract with a lower compensation packet, indirectly asking him to leave. Others see in it a way of cost-cutting in a news industry buffeted by lower ad revenues.
    “‘Neil Cavuto’s illustrious career has been a master class in journalism and we’re extremely proud of his 28-year run with Fox News Media,’ the company said in a statement confirming the Cavuto’s departure. ‘His programs have defined business news and set the standard in the entire industry.’”

    Most journalists are awaiting what his next move will be. 

  • CNN US’ original series ‘The Murdochs: Empire of Influence’ to air in September

    CNN US’ original series ‘The Murdochs: Empire of Influence’ to air in September

    Mumbai: News broadcaster CNN US has announced that The Murdochs: Empire of Influence will air on the cable network next month. Produced by Left/Right and The New York Times, this will be about the media family and their complicated history. CNN will launch this original series with a special two-episode premiere on 25 September.

    Based on Jonathan Mahler and Jim Rutenberg’s New York Times Magazine article, “How Rupert Murdoch’s Empire of Influence Remade the World,” this CNN original series explores the legacy of media mogul Rupert Murdoch and the dynasty he built. Featuring reporting from The New York Times, interviews with people who worked inside the Murdoch companies, and decades of archival footage, this seven-part series goes behind the scenes of the improbable rise of a media tycoon, his outsized influence around the globe, and the intense succession battle between his children over who will inherit his throne. 

    The Murdochs: Empire of Influence charts the high-stakes deal making, political maneuvering, and dynastic betrayals that shaped one of the largest media empires in history. The series will regularly air on Sundays on CNN.

    The Murdochs: Empire of Influence will stream live for pay TV subscribers via CNN.com, CNN OTT, and mobile apps under “TV Channels” or “CNNgo” where available. The series will also be available on demand the day after the broadcast premiere to pay TV subscribers via CNN.com, CNN apps, and cable operator platforms.

    The CNN original series group develops non-scripted programming for television via commissioned projects, acquisitions, and in-house production.

  • Lachlan Murdoch to lead New Fox after Disney sale, James is out

    Lachlan Murdoch to lead New Fox after Disney sale, James is out

    MUMBAI: The Murdochs-led 21st Century Fox has unveiled a new executive structure of the upcoming New Fox group after Disney buys out its other assets as proposed.

    Lachlan Murdoch will be chairman and CEO while father Rupert Murdoch will hold on as co-chairman. Since 2015, Lachlan has been executive chairman of 21st Century Fox. He works directly with the company’s senior management and board of directors in developing global strategies and setting the overall corporate vision. He also currently serves as co-chairman of News Corp and executive chairman of NOVA Entertainment, an Australian media company.

    Speaking on the changes, Lachlan Murdoch said: “We have worked through the winter ‘standing up’ a reimagined independent Fox. I am very pleased that John has agreed to take on the role of chief operating officer, and together we look forward to making further announcements as to the management and structure of this new Fox as we get closer to closing our proposed transaction with Disney.”

    21st Century Fox CEO James Murdoch has found no place at New Fox, which is news and sports focussed. Instead, James will be launching his own venture.

    Chief financial officer John Nallen will be the chief operating officer but current president Peter Rice didn’t find a seat at the helm. “The opportunity to reshape a business strategy and an operational approach uniquely tailored to the new Fox is truly compelling. I look forward to joining Lachlan as we begin to establish new Fox,” said Nallen.

    “The new Fox will begin as the only media company solely focused on the domestic market; focused on what Americans love best—sports, news and entertainment, built and delivered for a US audience,” said Rupert Murdoch.

    New Fox will have Fox News, Fox Business Network, Fox Broadcasting Company, Fox Sports and Fox Television Stations Group as well as sports cable networks FS1, FS2, Fox Deportes and Big Ten Network.

    A while ago, the Walt Disney Company agreed to a pay $52.4bn for Fox’s other assets including film and TV studios, US cable networks and international channels. Disney also gets a shot at National Geographic, FX and FXX, and even a 30 per cent interest in Hulu, which gives it a controlling stake in the US streamer. The deal also comes with stakes in Sky and Endemol Shine Group.

  • Star India to pump $50 million into Hotstar this year

    Star India to pump $50 million into Hotstar this year

    MUMBAI: Speaking during an analyst call focusing on 21st Century Fox’s investments in India, James Murdoch has said that this year’s investment by Star India into its streaming service Hotstar would be $50 million.

    “We’re very comfortable that we’ll hit our $500 million EBITDA target at Star TV,” said James Murdoch. “We had decided, however, from the strong quarter in the year to continue to increase our investment in Hotstar, which for the year will be about $50 million.”

    Murdoch noted that the sports business and the digital business are also growing fast. Hotstar exceeded 140 million users in April alone, he said. The India Premier League’s watch time on Hotstar has grown by 2.5 times as against last year and achieved 7 million live streams during one IPL game, the highest-ever for any streamed sports event anywhere in the world.

    “In the Indian TV business, our entertainment channels achieved significant regional market share growth over the past year and two of the largest regions when launching the number one national free to air in the country, Star Bharat,” Murdoch added.

     

  • Comcast topples Murdoch’s offer for Sky with $31 bn bid

    Comcast topples Murdoch’s offer for Sky with $31 bn bid

    MUMBAI: The big-name mergers are getting bigger in value with Comcast dropping a bomb that it is ready to pay $31 billion to takeover Sky. Its offer was 16 per cent higher than that of rival 21st Century Fox that had wanted to acquire 61 per cent in Sky.

    “We think Sky is an outstanding company. It has 23 million customers and leading positions in the UK, Italy and Germany. Sky has been a consistent innovator in its use of technology to deliver a fantastic viewing experience and has a proud record of investment in news and programming. It has great people and a very strong and capable management team,” said Comcast Corporation chairman and CEO Brian L Roberts.

    The acquisition will help Comcast for better distribution and technology leadership and expand its international reach to new territories.It believes that together they can create compelling opportunities for growth and innovation.

    Sky’s company secretary Chris Taylor noted that the company had got an offer from Comcast. It called it a ‘possible offer’ and because there was nothing firm, it will make an announcement later.

    Comcast said it will pay all cash for the deal to get a firm hold on the huge UK pay TV market. Fox said that it stays committed to the offer it previously made.

    Last year Comcast bet $60 billion to buy Fox, ultimately losing to Disney.

    Sky reaches 23 million homes in Britain, Ireland, Germany, Italy and Austria.

    Also Read :

    Now, Comcast in talks to buy 21st Century Fox

    Murdoch pledges funding to Sky News

    Comcast may renew bid for 21st CF

  • Comcast may renew bid for 21st CF

    Comcast may renew bid for 21st CF

    MUMBAI: Is Brian Roberts playing party pooper? Or is he really serious? The Comcast CEO is believed to be still making eyes at 21st Century Fox assets, according to a report by Wall Street Journal. The paper says he is reportedly mounting a renewed bid to acquire either all the entertainment properties of Fox or parts of it which might be of no interest to the mouse house.

    In December 2017, both Rupert Murdoch and Disney’s Bob Iger had announced a colossal take over of 21st Century Fox’s TV, film studio, international pay TV assets for a  sum of$52.4 billion. Roberts had reportedly been willing to pay $60 billion – about 15 per cent higher –  but he did not get a serious shot at a deal.

    The reason: an acquisition of Fox by Comcast would have not passed anti-trust and monopoly muster. Hence, the Murdochs preferred to go with Iger’s offer.

    WSJ says it did not receive  a response from either Fox or Disney and that Comcast may not really make a definitive offer to acquire the mouse house catch finally.  Because he is awaiting a ruling on the AT&T-Time Warner antitrust suit that comes up for hearing on 19 March.

    The Murdochs own 39 per cent in 21st Century Fox through a family trust. And the Disney deal saw the family  retaining all the TV news assets of the Fox empire.

    The two companies’ intent to deal is likely to take up to 18 months to accomplish, keeping in mind the regulatory hurdles it has to comply with.

    Also Read : 

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

    Disney, 21st Century Fox, CNBC, James Murdoch, Star India

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

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

    MUMBAI: Unlike the US, where the merger of The Walt Disney Co and 21st Century Fox’s entertainment assets is between two near equals, the scenario in India is totally different. 21st Century Fox’s India venture Star India is a $1.7 billion dollar media and entertainment behemoth while Disney India is a minnow with just about $150 or so million in sales, including its theatrical releases, TV businesses, and merchandising and licensing of the Disney characters and brands.

    For long, the mouse house has struggled to attain scale in India, like it has done in China with its $100 million box office theatrical releases and successful Shanghai Disneyland but it has not attained the success it would have wanted.

    Acquiring Ronnie Screwvala’s UTV half a decade ago gave Disney four channels—Bindaas, Hungama TV, UTV Action and UTV Movies, apart from a film production studio which it shuttered last year despite having
    a huge hit in the Aamir Khan starrer Dangal.  Other channels in its portfolio include Disney Channel, Disney Junior, Disney Channel HD, and Disney Junior HD.

    The acquisition of Star India with its 61 channels, stakes in DTH operator Tata Sky, VOD service Hotstar, and in-film production and distribution has in one fell swoop catapulted it to the number one media and entertainment company status in India.

    However, it’s most likely that Star India chairman & CEO Uday Shankar will be given the mandate to steer and drive the enthusiastic young and new management team in Disney India, in synergy with Star India.  Shankar has been focused on regional language entertainment channel expansion, sports and Hotstar at the powerful media firm–a portfolio he has grown since he took over in 2007.

    Disney India is run by Abhishek Maheshwari–who was elevated to that position recently–following the promotion of Mahesh Samat as executive VP & managing director for South Asia.  How Shankar will manage the operations and whether he will restructure the management there will become clearer over the next few months.

    Star India has lacked kids channels in its portfolio; the addition of the Disney channels will help complete that. 

    Its Hotstar service has the most complete international portfolio and has had exclusive access to fresh Disney content, shows from HBO, Fox, CBS, and Showtime. And with it, Disney India will get more than 70 odd million active users consuming a multiple billion minutes a month of content.  

    “It is going to be an unrivalled media and entertainment powerhouse,” says a media observer. “All other media companies pale in comparison in the country.”

    The Tata Sky stake immediately brings into the Disney fold a satellite TV distribution platform making it a first for the company. UK satellite TV distributor Sky will most likely be the second one if the Murdochs’ bid for it in the UK gets the go-ahead from local authorities in time. 

    Of course, the arrangement in India will give Disney access to the world’s most valued cricket league, the IPL, for which Star India bid aggressively this year–some say too much. Then there are other sports activities that it automatically gets, like the leagues for kabaddi, football, hockey, and badminton. But being a part of Disney will aid its larger partner, too; it will have the facility to dip into the former’s massive cash trove to aid Shankar’s aggressive growth and entrepreneurial urge whether on video-streaming expansion or in sports.

    Interesting times are clearly on hand for the media and entertainment business in India.

    Also read:

    Comment: The rise and rise of Uday Shankar

    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

  • Fox News appoints new execs; no mention of junior Murdochs

    Fox News appoints new execs; no mention of junior Murdochs

    MUMBAI: After the exit of Roger Alies as the head of Fox News, 21st Century Fox executive chairman Rupert Murdoch has named Jake Abernethy and Bill Shine as co-presidents of Fox News. The two executives will report to Murdoch.

    Abernethy comes from the less dramatic and political corner of the empire, Fox’s network of local stations. He will oversee more of the business end now. Shine, earlier senior executive VP of programming for Fox News, will now focus on programming and editorial matters.

    It has also come to our knowledge that Suzanne Scott has been promoted as executive vice president of programming and development for the network. She will continue to report to Shine. Fox News’ long-time chief financial officer Mark Kranz is retiring.

    “Over his 19 years with Fox News, Mark Kranz was instrumental in increasing profitability across all of our key properties,” Murdoch said in a statement. “We are grateful for his many contributions to the company and we extend our best wishes to him as he embarks on a new chapter.”

    Jay Wallace will continue to manage the news division as the executive vice president of news editorial. He will now report to Shine.

    Both executives had previously reported to Ailes, and both had been widely speculated to be among the top internal contenders to replace Ailes.

    “Jack was integral to the launch and success of Fox News nearly 20 years ago and we’re delighted he’s returning to take on this additional role,” Murdoch said in a statement. “As we continue to benefit from his strong leadership of Fox Television Stations, his strategic vision and deep knowledge of the cable news business will ensure continued growth of Fox News and Fox Business Network for generations to come.”

    He added, “Bill Shine has developed and produced a signature primetime that has dominated the cable news landscape for 14 of his 20 years with Fox News. His leadership and keen eye for programming has played a fundamental role in the success of both, Fox News and Fox Business Network.”

    The announcement of Shine and Abernethy’s promotion makes no mention of Murdoch’s sons, James Murdoch and Lachlan Murdoch. The elder Murdoch has been running Fox News on an interim basis since Ailes’ departure last month.

  • Fox News appoints new execs; no mention of junior Murdochs

    Fox News appoints new execs; no mention of junior Murdochs

    MUMBAI: After the exit of Roger Alies as the head of Fox News, 21st Century Fox executive chairman Rupert Murdoch has named Jake Abernethy and Bill Shine as co-presidents of Fox News. The two executives will report to Murdoch.

    Abernethy comes from the less dramatic and political corner of the empire, Fox’s network of local stations. He will oversee more of the business end now. Shine, earlier senior executive VP of programming for Fox News, will now focus on programming and editorial matters.

    It has also come to our knowledge that Suzanne Scott has been promoted as executive vice president of programming and development for the network. She will continue to report to Shine. Fox News’ long-time chief financial officer Mark Kranz is retiring.

    “Over his 19 years with Fox News, Mark Kranz was instrumental in increasing profitability across all of our key properties,” Murdoch said in a statement. “We are grateful for his many contributions to the company and we extend our best wishes to him as he embarks on a new chapter.”

    Jay Wallace will continue to manage the news division as the executive vice president of news editorial. He will now report to Shine.

    Both executives had previously reported to Ailes, and both had been widely speculated to be among the top internal contenders to replace Ailes.

    “Jack was integral to the launch and success of Fox News nearly 20 years ago and we’re delighted he’s returning to take on this additional role,” Murdoch said in a statement. “As we continue to benefit from his strong leadership of Fox Television Stations, his strategic vision and deep knowledge of the cable news business will ensure continued growth of Fox News and Fox Business Network for generations to come.”

    He added, “Bill Shine has developed and produced a signature primetime that has dominated the cable news landscape for 14 of his 20 years with Fox News. His leadership and keen eye for programming has played a fundamental role in the success of both, Fox News and Fox Business Network.”

    The announcement of Shine and Abernethy’s promotion makes no mention of Murdoch’s sons, James Murdoch and Lachlan Murdoch. The elder Murdoch has been running Fox News on an interim basis since Ailes’ departure last month.

  • Hotstar.com’s Ajit Mohan targets 100 million digital viewers this IPL

    Hotstar.com’s Ajit Mohan targets 100 million digital viewers this IPL

    MUMBAI: Star India has long presented itself as undisputed disruptor when it comes to the Indian media and entertainment industry. The disruption wave does not look like settling down any too soon. Star India digital head and president Ajit Mohan is now chasing history: something that The Facebook achieved in early 2015 and India’s largest telco Airtel got to in 2009.

    “Our objective is to reach out to 100 million users this IPL for our digital streaming services,” says Mohan with a smile on his face.

    Star India started the online streaming of cash rich Indian Premier League (IPL) in 2014. The matches were streamed on Starsports.com and as per Mohan’s analysis over 21 million people logged on to watch the action on their hand held devices.

    A year later, Star India invested a whopping Rs 302.02 crore to outbid then Multi Screen Media or MSM (now Sony pictures Networks or SPN) and Times Internet (TI) bid to acquire the streaming rights for three more years.

     “The reach doubled and we got to over 42 million viewers. Not only that we also witnessed a significant traction when it came to time spent watching,” discloses Mohan.   

    Complementing Star’s unfettered digital disruption is the improving bandwidth condition in India. The affluent metro youth who are considered to be the biggest spenders and are always engaged with their hand held smart devices. It is these mobile natives that Hotstar is targeting this year.

    “The audience we cater to is what makes Hotstar an attractive platform for advertisers. The response we got so far for IPL is overwhelming and we are extremely happy with it. We are selling as per slots exactly how it happens on television,” avers Mohan.

    The digital innovation of Murdoch’s media conglomerate has roped in nine brands so far. Flipkart, Volini, Raymond, Axe have come on board as sponsors, while the other large advertisers include Lloyd, Hindware, Hero Fincorp, Airtel and Amazon.

    “The metro is either working or returning back by the time IPL matches start and hence the streaming service is the go-to for cricket lovers. Moreover, with 3G getting better and 4G coming in, the infrastructure is also looking good so the streaming service is becoming more useful,” explains Madhouse COO Milind Pathak.

    The growth of Hotstar continues unabated as per Mohan, especially its reach. It was at just two per cent of TV a year back. Today, Mohan, says it has multiplied manifold. “Hotstar has already reached 40 to 45 per cent of television audiences,” he points out. “I believe more than compete with TV, what we are doing is adding another screen and forming a consumer habit which is a great benefit for the industry.”

    The leapfrogging numbers are not only because of the sacks full of dollars being spent on content, but also on account of an aggressive marketing overdrive. Captain of the Indian cricket team M S Dhoni promotes the platform. And for IPL the media house signed on with ad creative power house Lowe Lintas to unleash a cutting edge campaign.

    “With our analysis we found out that affluent male youth in metros are the ones who spend most of the time on their mobile phones and our creative is targeted at them. Also there is a perception that Indian youth are selfish and stay by themselves which is not totally true and that’s why it has the tagline Screen Chota hai magar Dil bada,” says Mohan.   

    The promotional spots focuses on youth and their connection with community. It shows that although they are always in their own world, but whenever needed they become an active part of the society.

    Last year Starsports.com streamed the matches along with Hotstar, “This year also we will continue to stream the action on both the platforms. The rights that we have are for a five minute delayed stream; an addition that we have this year is the fact that both Hindi and English commentary will be available for audiences to enjoy,” reveals Mohan.

    Digital is still perceived as an ancillary consumption medium, mainly for snacking and for small pieces of content, not long form.  Mohan believes Hotstar is paving many a pioneering path. “We broke all such myths, we proved the perception wrong,” he says with a wide grin. “One more wrong notion that we tore apart was that India was not ready for a premium OTT platform. With the time spent on OTT that we witnessed in the past and the way it is increasing now, I must say that the platform is only going to get bigger.”