News Broadcasting
News Corp net profit up 9% at $ 2.3 billion for 06 fiscal
MUMBAI: Rupert Murdoch’s media powerhouse News Corp has reported record numbers with full year net profit standing at $ 2.314 billion. This marks an increase of nine per cent over the $ 2.128 billion it achieved in fiscal 2005.
Net profit for the quarter ended 30 June 2006 was $ 852 million, an increase of 19 per cent over the $ 717 million achieved in the corresponding quarter of 2005.
Revenues for the year stood at $25.3 billion, up 6 per cent from last year’s $23.9 billion.
The full year operating profit growth reflects increased contributions from nearly every operating segment led by 23 per cent growth at cable network programming and a $212 million improvement at Sky Italia.
On the television side, the stellar performers were the Fox network in the US and Asian arm Star Group. Star’s fourth quarter and full year operating profit increased by 10 per cent and 12 per cent respectively versus comparable periods a year ago. Ad revenues, mainly from India, drove total revenue growth. Ad gains were led by weekend programming initiatives at Star Plus and by the growth of Star One and Star Gold.
Other highlights include
• Formed Fox Interactive Media and acquired several rapidly growing internet properties, including MySpace.com, whose traffic has more than doubled since the acquisition in September 2005.
• Completed sale of investments in Innova, a Mexican DTH platform, for $285 million, TSL Education Ltd business for $395 million and Sky Radio for $215 million.
Commenting on another powerhouse performance from his media conglomerate, chairman and CEO Rupert Murdoch said, “Our fiscal 2006 financial performance once again demonstrates News Corporation’s ability to deliver superior near-term results while keeping our eye firmly focussed on the long-term with smart, strategic investments that we expect will accelerate our growth well into the future. We generated our fourth consecutive year of record operating profits with increases at nearly every one of our diverse segments; at the same time, we leveraged our strong balance sheet by investing in businesses uniquely positioned in the expanding digital world.
“The success of our existing businesses was highlighted by Sky Italia’s first full year of profits — adding 513,000 subscribers over the past 12 months the broadcast network’s improved financial position — translating another ratings title into higher advertising revenues; the continued rapid growth of our established and burgeoning cable channels; and finally, by the considerable increase in contributions from DirecTV.
“Longer term, we are intently focussed on developing ways not only to monetise our acquired internet assets, but also on how to exploit our vast content libraries as broadband access proliferates. From aggressively growing advertising across MySpace’s now nearly 100 million registered users to providing on-demand content to DirecTV consumers, we are keen on maximizing whatever opportunities technology provides. Our proven ability in taking advantage of new platforms and the momentum we continue to generate at our established businesses gives us great confidence as we head into fiscal 2007.”
The television segment reported fourth quarter operating profit of $403 million, an increase of $59 million, or 17 per cent, versus the same period a year ago, and full year operating profit of $1.0 billion, an increase of eight per cent over fiscal 2005. Both the quarter and full year primarily reflect higher contributions from the Fox and Star, while the quarter also includes growth at the Fox Television Stations.
At the Fox Broadcasting Company (FBC), fourth quarter and full year operating results improved dramatically versus fiscal 2005 as ratings momentum and higher pricing drove primetime advertising revenue growth. The fourth quarter results also included lower programming and promotion costs versus a year ago which included the launch of Family Guy and American Dad. For the full year, programming costs increased on higher license fees for several returning series, including American Idol and 24, which, along with House, led FBC to finish as the top-rated network among Adults 18-49 this past broadcast season. Additionally, fiscal 2005 included a loss associated with the broadcast of Super Bowl XXXIX.
Fox Television Stations’ (FTS) fourth quarter operating profit increased slightly from the same period a year ago as FTS delivered record market share on primetime ratings strength and the continued success of local news.
For the full year, operating profit declined by four per cent versus fiscal 2005, primarily as a result of higher production costs from the local news expansion. Despite softness in the overall advertising market, lower political spending and the benefit a year ago from FBC’s broadcast of Super Bowl XXXIX, revenues for the year were in-line with a year ago as FTS generated market share gains with a stronger prime-time line-up and continued success in local newscasts.
The film segment reported fourth quarter operating profit of $200 million, up 83 per cent from the $109 million reported in the same period a year ago and record full year operating profit of $1.1 billion, up slightly from 2005. The current quarter results primarily reflect strong worldwide theatrical and home entertainment revenues, while full year results primarily include increased worldwide theatrical, pay-TV and free-TV contributions as well as higher syndication and home entertainment contributions from Twentieth Century Fox Television (TCFTV).
Fourth quarter film results were largely driven by the worldwide theatrical success of Ice Age: The Meltdown, which has grossed over $640 million in box office to date, and by the home entertainment performances of The Family Stone, Big Momma’s House 2 and Cheaper By the Dozen 2. The current quarter also included the initial results and releasing costs for several successful theatrical releases including The Devil Wears Prada, which has grossed over $110 million in the US to date, and X-Men: The Last Stand, which opened to the highest domestic box office ever for a Memorial Day weekend and has grossed over $440 million in worldwide box office to date.
For the full year, record film results were primarily driven by strong worldwide theatrical releases including Ice Age: The Meltdown, the Oscar winner Walk the Line, Fantastic Four and X-Men: The Last Stand and by the worldwide home entertainment performances of Robots, Walk the Line, Fantastic Four, Hide and Seek and Star Wars Episode 3: Revenge of the Sith.
News Broadcasting
Times Network to air JVC Exit Poll across 5 regions on April 29
Four-hour broadcast spans states and Puducherry with data-led analysis
MUMBAI: Times Network is set to roll out what it calls one of its most expansive election programming efforts yet, culminating in the JVC Exit Poll on 29 April, with a multi-hour broadcast spanning key poll-bound regions.
The exit poll will air across Times Now and Times Now Navbharat, beginning at 5pm and 4pm respectively. Co-powered by Vedanta and Jindal Stainless, the programming aims to combine on-ground reportage with data-driven projections across West Bengal, Tamil Nadu, Kerala, Assam and Puducherry.
The network has deployed over 50 journalists across these regions, gathering voter sentiment and local insights in the run-up to polling. The effort builds on its ongoing election formats such as Election Yatra and Election Premier League, which have tracked campaign narratives and community-level issues.
In parallel, Times Now Navbharat has focused on constituency-level reporting in West Bengal through its Jan Gan ka Mann series, capturing voter opinions across diverse segments.
The coverage has also featured interviews with prominent political leaders. Kerala chief minister Pinarayi Vijayan and Congress leaders Ramesh Chennithala and V D Satheesan have appeared on the network’s election specials. From Tamil Nadu, voices including deputy chief minister Udhayanidhi Stalin, DMK MP Dayanidhi Maran, BJP leader K Annamalai and NTK’s Seeman have also featured in discussions.
On the day of the exit poll, the network’s primetime anchors, including Navika Kumar, Zakka Jacob and Sumit Awasthi, will lead the coverage. They will be joined by a panel of political analysts, psephologists and senior journalists offering real-time insights and interpretation of trends.
The programming will integrate grassroots reportage with analytics from the JVC Exit Poll, aiming to give viewers an early sense of electoral outcomes ahead of the official results on 4 May.
With its combined English and Hindi broadcast reach, Times Network is positioning this effort as a comprehensive look at voter sentiment, blending field reporting, data and debate to decode what could lie ahead when the final mandate is revealed.
