News Corp heralds digital on way to $US1.4b loss

News Corp FY2018 results chart

Telstra and News Corp merged Fox Sports, formerly 100 per cent News Corp owned, and joint-venture Foxtel in April.

"There's no doubt Foxtel has the best portfolio of programs and sports rights, which has been enhanced by cricket rights".

"Australian audiences are willing to pay for premium programming, [more so] than we previously assumed". However the subscription TV service reported lower subscription and advertising revenues in the full year.

"We generated strong revenue and segment EBITDA growth in the digital real estate services and book publishing segments which, together with the consolidation of Foxtel, drove over US$1 billion in profitability for the year", he said.

In December, Australia's competition watchdog the ACCC gave the proposed merger between Foxtel and Fox Sports the green light.

Foxtel loomed large in the News Corp's global figures with last quarter's $1bn write down of the subscription TV operator increasing the group's net loss to $US1.4bn, an increase from $US643 million a year ago.

The loss is the second in as many fiscal years for the publishing giant, after posting a US$643 million negative effort in FY17.

Digital revenues represented 30% of News and Information Services segment revenues, compared to 26% in the prior year, reflecting strong paid digital subscriber growth at mastheads.

England vs India, 1st Test, Day 2: 5 Talking Points
England then reduced India to 11 for two in 6.3 overs before heavens opened up to halt the proceedings. Joe Root (19) and 20-year-old debutant Olliver Pope (28) then added 45 runs for the third wicket .

The group's revenues totalled US$9.01bn, up 11%, while earnings before interest tax and depreciation hit US$1.07bn, up 21%. Adjusted revenues increased 2%.

"Improving subscription volumes will be key to our long-term value creation" for that business, Panuccio also said, adding over-the-top (OTT) "will be a key growth initiative and our goal will be to maintain the broadcast subscriber base and manage churn effectively". The Wall Street Journal average daily digital subscribers in the three months ended June 30, 2018 were 1,590,000, up from 1,270,000 a year ago.

The decline was driven by weakness in the print advertising market and the decision to cease The Wall Street Journal's worldwide print editions in the second quarter of fiscal 2018.

"News Corp is now a more substantial company after the Foxtel transaction, with a much higher percentage of recurring, subscription-based revenues, which should help offset a volatile advertising environment".

News Corp Australia revenue grew 1%.

Advertising revenue now makes up less than a third, with subscriptions and non-advertising revenue contributing 70%.

Thomson said that News Australia would continue to undergo tight cost control.

Related News:



Most liked

Excitement as English Premier League kicks off Friday
Ayew, who has 11 goals in 49 appearances for Ghana, scored 11 times for Swansea last season as he impressed in a struggling side. Champion Manchester City had already signed winger Riyad Mahrez for a club-record GBP60 million from Leicester City .

BC government announces proposed changes to ICBC rates
It is built around ensuring the vehicle rather than the driver and allows discounts to drivers despite multiple crashes. But crashes caused by the learner before they get their licence won't be counted in their driving history.

Bielsa Won’t Get Carried Away After Leeds Hammer Lampard’s Derby
Roofe slammed the ball high past Carson to register his second of the game. Carson made a great save and Tomori blocked the rebound. Subs not used: Roos, Forsyth, Pearce, Marriott.

Garbage Truck Driver Facing DWI Charges In Bicyclist’s Death Near Central Park
The NYPD's Collision Investigation Squad is investigating the incident, which happened near 70 Central Park West . Madison's wall listed her as a former Swim Instructor at Leisurelink and a student of MacKillop College .

Crystal Palace sign Jordan Ayew on season-long loan
Ayew suffered relegation with Swansea City last season, but he has made a swift return to the Premier League after completing a loan move to Palace on Deadline Day.

Crocs shoe manufacturer announces its closing its manufacturing facilities
The company said Carrie Teffner, executive vice president and chief financial officer, will leave Crocs effective April 1, 2019. Still, Croc stans took to Twitter to express their outrage, betrayal, and sadness about the Croc-pocalypse.

Woman held captive in Indonesian cave for 15 years rescued
Later that year, she disappeared, with media reports saying that the family was told that she had left to work in Jakarta. Indonesia is a predominantly Muslim country but other beliefs about spirits and paranormal activity are held by some.

Unite the Right: Permit granted for Washington DC far-right rally
A defined security area will be established around downtown that will include security checkpoints limiting access to pedestrians. He's treating the rally like a weather emergency, and letting workers stay home if they wish.

Chelsea striker Michy Batshuayi to join Valencia on season-long loan
Spanish League giants Valencia have agreed to sign Michy Batshuayi on a season long loan deal from Chelsea . Batshuayi joined Chelsea in July 2016 for a fee in the region of £33m and has scored 19 times in 53 games.

Cryptic Paul Pogba Tweet Gets Manchester United Fans Talking
We played very well, the performance was OK. "Every team is a good team, forget the name, forget the history, forget the shirt". Paul Merson thinks Manchester United should sell Paul Pogba and buy Tottenham Hotspur's Mousa Dembele .

"Deal with is Mexico Coming Along Nicely...Canada Must Wait".
However, he added that he supports the effort and that Canadian negotiators are ready to work long hours to help make it happen. In a tweet , the president also said a Nafta deal with Mexico "is coming along nicely". "Canada must wait", Trump posted.

Is a diverse diet healthy for you? - KVOA | KVOA.com | Tucson, Arizona
The majority of these studies showed that people ate significantly more when served a wider variety of foods, as opposed to a single item.

Stokes could have killed me, says defendant
Mr Cole showed the jury a photograph of Mr Stokes and teammates James Anderson, Jake Ball and Alex Hales taken outside Pryzm. He said he had been "smashed in the face" as he tried to tell Stokes to stop attacking Ali, who he said was a close friend.

Local firefighters provide mutual aid at Holy Fire, Carr Fire
Milligan said he was so wary of the suspect that he avoided going to the area of the remote Orange County canyon where he lives. The fires in California have burned close to 749,770 acres, which is more than double the size of Los Angeles, CNN reported .

Ryan Fox still in touch with US PGA Championship leaderboard
Woodland, even with the lowest 36-hole score in 60 years of stroke play at the PGA Championship, still had a long way to go. Just ahead of them, two-time US Open champion Brooks Koepka narrowly missed a 20-foot birdie putt at No 9.