News Broadcasting
News Corp’s Q1 Net soars 27 % to $ 536 million
MUMBAI: Media mogul Rupert Murdoch must be one happy man. If the brilliant first quarter results his News Corp has just delivered were not enough, that his choice for US president George W Bush has so convincingly won a second term in office must have given him additional reason to crow.
News Corp has announced a 27 per cent increase in its first-quarter (ending 30 September) Net, helped by growth in advertising at the Fox News Channel and the Fox broadcast network, as well as a strong performance from the company’s newspapers in the UK and Australia.
Net profit stood at $536 million as against $422 million in the corresponding quarter last year. Net income was up to $536 million from $422 million a year ago. Sales were up 12 per cent at $5.19 billion from last year’s $4.6 billion.
A 12 per cent jump has also been seen in the consolidated operating income at $805 million from $719 million last year.
News Corp will also be relocating its headquarters and main listing to the United States from Australia for which it has just received court clearance.
Among the new initiatives in the pipeline are plans for a financial news channel. Negotiations are currently on with distributors to carry the channel, Murdoch said in a conference call. “We are planning to do, certainly, a top business news channel some time in the future,” News Corp’s chairman and CEO has been quoted in media reports as saying.
STAR’S STOCK CONTINUES TO RISE
News Corp’s broadcast television business rose 30 per cent to $233 million from $179 million on higher ad prices and lower costs for prime-time programs. A significant contribution came in from Asia, with the Star Group reporting higher operating profits. Star’s revenues were up 14 per cent on the back of increased ad sales out of India and China as well.
Meanwhile, billionaire cable TV investor John Malone’s Liberty Media has said it may buy $1.5 billion of News Corp.’s voting stock in an equity swap deal with Merrill Lynch in April 2005. Liberty said in a statement that it had entered into a transaction involving 84.7 million shares.
Reports say that if the deal goes through, it could double Liberty’s current 9.15 per cent voting stake in the company, potentially paving the way for a challenge to the Murdoch family’s hold on News Corp.
Murdoch, however, appeared unperturbed. “I think it’s an endorsement of the company,” he said. “I say that quite sincerely. I’m not losing any sleep over it.”
News Corp. is the world’s fifth largest media group and owns the Fox network, 20th Century Fox film studios and a host of newspaper and satellite assets including BSkyB and DirecTV.
News Broadcasting
CNN-News18 to host Fury in the Gulf conclave on West Asia crisis
Three-hour summit to unpack geopolitical fallout and impact on India
MUMBAI: CNN-News18 is set to host a special three-hour broadcast, Fury in the Gulf – War Conclave, on April 7, aiming to decode the escalating West Asia crisis and its far-reaching implications for India.
Scheduled from 4:00 PM to 7:00 PM, the conclave comes at a time when tensions between Iran and the United States are reshaping global geopolitics and triggering economic uncertainty. With India’s deep energy ties, trade links and large diaspora in the Gulf, the developments carry significant domestic relevance.
Built around the theme ‘Conflict, Consequences, and The Future,’ the programme will feature six curated sessions combining one-on-one interviews and panel discussions. The focus is to cut through the clutter and offer viewers a clearer understanding of the fast-evolving situation.
Key sessions include ‘Diplomacy in Times of War’ featuring Shashi Tharoor, and ‘World After the Iran Conflict’ with voices such as Ram Madhav, Reuven Azar, representatives from the European Union and the Iranian Deputy Envoy. Another session titled ‘Another Dunkirk?’ will bring together K. J. S. Dhillon and Jitin Prasada among others.
CNN-News18 editorial affairs director Rahul Shivshankar said, “In times of war, clarity becomes the most powerful tool. Fury in the Gulf – War Conclave brings together credible voices to address the questions and confusion that arise amid an overwhelming influx of information.”
He added that the initiative is aimed at delivering “facts, perspective, and insight” at a time when misinformation can easily cloud public understanding.
Echoing the sentiment, CNN-News18 CEO– English and business news Smriti Mehra said the conflict marks a defining global moment, with consequences that extend well beyond the region. She noted that the conclave seeks to present the crisis with “depth, nuance and responsibility” so audiences can better grasp its real-world impact.
As geopolitical tensions continue to dominate headlines, the conclave positions itself as an attempt to bring order to the noise, offering viewers a structured, insight-led look at a complex and rapidly shifting global situation.
