The Phuket News Premier League predictions The Phuket News Kata Rocks The Phuket News
The Phuket News Business News
The Phuket News Phuket | Thailand | World | Business | Q&A | Weird World XML, RSS, Feed
The Phuket News The Phuket News
The Phuket News

Murdoch’s leaner Fox machine post-Disney deal

NEW YORK Rupert Murdoch’s decision to sell off the bulk of 21st Century Fox leaves him with a leaner, tighter media machine focused on broadcast news and sports, a drastic retrenchment after half a century of expansion.


Friday 15 December 2017, 09:15AM

The decision to sell off Hollywood film and television studios, cable entertainment networks and international TV assets effectively takes Fox out of the business of producing entertainment content, and makes it less invested in distribution.

So what is the Australian-born billionaire left with and why did he enter into the US$52.4 billion (B1.704 trillion) deal with Walt Disney Co.? Essentially Fox will be left with three key assets – Fox Broadcasting, Fox News and cable channels Fox Sports 1 and 2.

“We are excited by the possibilities of the new Fox,” said Murdoch in a statement. “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.”

Fox News is the most watched cable news network in the United States despite explosive harassment scandals and an increasingly toxic reputation among liberal Americans bitterly opposed to President Donald Trump.

It also remains the most profitable arm of the Fox empire. Murdoch stepped in personally to lead Fox News after its late founding chairman, Roger Ailes, left in a blaze of sexual harassment allegations in July 2016.

The job has given the 86-year-old media tycoon, who has long curried political influence in Australia and Britain, direct access to Trump.

Fox Business is currently America's number one business network and Fox Broadcasting Company is watched by nearly 100 million households every month. Fox Sports retains the rights to the NFL, MLB, World Cup soccer and US Open, among other tournaments.

Prior to the Disney deal going through, 21st Century Fox now intends to unite these assets into a newly listed Fox company, which will also include the Big Ten Network.

So why now?

The industry is undergoing drastic change. The emergence of new streaming giants such as Amazon and Netflix has revolutionized how people consume entertainment on television. No longer held hostage to network schedules, they can watch when and how they want, bypassing ad breaks into the bargain.

“There are a lot of change coming,” Murdoch told Fox Business on Thursday.

Strategic realignment’

World Cup League @ BISP

“Not news or business, but entertainment they watch very differently,” he said.

“We see that in the way people watch the broadcast networks. There's no loyalty to them, there’s loyalty to individual programs,” he said. “It’s very hard to monetize that with advertising.”

Analysts believe the focus on news and sports may make Fox less vulnerable to declining ratings for scripted and reality entertainment.

“News and sports are generating the bulk of their profit,” said Tuna Amobi, director and senior equity analyst at the investment research firm CFRA Research.

“It’s a very calculated strategic portfolio realignment that Fox is doing to reposition their assets in a very shifting competitive landscape.”

But it is still a stunning about-turn for an octogenarian whose entire career to date has been marked by ruthless expansion in Australia, Britain and the United States.

Murdoch, the son of an editor and senior newspaper executive, began his career by taking control of an Australian public corporation in 1954 whose only key asset at the time was a majority interest in a daily newspaper in the coastal town of Adelaide.

The Disney deal will see no change to the publishing side of his empire, which owns newspapers in Australia, Britain and the United States, including the New York Post and Wall Street Journal, as well as Dow Jones and Company.

It could also set the scene for a merger between what remains of Fox and News Corporation, the publishing arm of Murdoch's empire.

“I wouldn’t rule that out,” Amobi told AFP.

It may also settle the futures of Murdoch’s sons, potentially giving Lachlan a clear succession at Fox, while James, as chief executive officer of 21st Century Fox, could now oversee the absorption into Disney.

“We’re honoured and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building,” said Disney chairman and CEO Robert Iger.



The Phuket News
The Phuket News
Comment on this story
* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.
Comments Here:

Comments Left: Characters
E-mail: (No Hotmail, Live, MSN and Outlook accepted at this time)
   => Forget password?

Be the first to comment.

The Phuket News
The Phuket News The Phuket News The Phuket News
The Phuket News
Share this
The Phuket News
Have a news tip-off? Click here
The Phuket News
Related stories
The Phuket News
Phuket community

Recent Comments

Phuket shopping mall clothes shop gutted by fire

This was (WAS!) a clothes shop, there are many more, souvenir shops, shoe shops, Optical shops, etc, etc, were a fridge/freezer not needs to work unat...(Read More)

Phuket Gov gives financial compensation to Songkran road death victim’s family

There appears to be a few racist commentators on this forum expressing resentment towards western society, these commentators appear to be living in d...(Read More)

Van ploughs into Toronto crowd, killing nine

What? They did not mention Berlin? Unbelievable! If the "Führer"finds out about this,we may expect a harsh reaction.Thanks to "Mücke&...(Read More)

Phuket shopping mall clothes shop gutted by fire

"Close Shop?Shut down the main electric.." Great idea! Works very well with shops were they keep food in a fridge/freezer! A real genius!...(Read More)

Phuket police begin probe into cars scratched at airport

Investigation is going well- we have finger pointing already!...(Read More)

Phuket Gov gives financial compensation to Songkran road death victim’s family

“extra lame effort by bumbling officials“.... demonstrating once again that the commentary has everything to do with neo-colonialism. And for tho...(Read More)

Van ploughs into Toronto crowd, killing nine

Vehicle attacks have been carried out to deadly effect by extremists in a number of capitals and major cities, including London, Paris, New York and N...(Read More)

Protesters ready for ‘war’ over Doi Suthep

To many already millions posted in the buldings to tear them down. Complete the buildings and punish all involved in initially letting this project be...(Read More)

Phuket shopping mall clothes shop gutted by fire

We al see many times the unprofessional electric wiring in shops and outside here on Phuket. Much of the time the pre conclusion of fire brigade is:...(Read More)

Attempted murder rap for Facebook streamer

A real mentally retarded dangerous fraudulous loser. Society should be protected against him for the rest of his natural life. Lady was beaten 6x in...(Read More)

The Phuket News
Weird World
The Phuket News PHUKET LIFE
Phuket Arts
Phuket Community
Phuket Culture
Phuket Dining
Phuket Education
Phuket Entertainment
Phuket Environment
Phuket Health
Phuket People
Phuket Technology
Phuket Travel
World Entertainment
Photo Galleries
The Phuket News PHUKET SPORT
Phuket Buy and Sell
Phuket Jobs
Phuket Property
Phuket Cars and Boats
Phuket Community
Phuket Services
The Phuket News The Phuket News PHUKET EVENTS
Phuket Event listings
Phuket Event calendar
Buy Tickets
Phuket Bars, pubs and clubs
Phuket Hotels and villas
Phuket Restaurants
Phuket Yellow Pages
The Phuket News BARGAINS
The Phuket News ABOUT US
The Company
Distribution points
Advertise with us
Pay for advert
Contact us
Content Google Map
Site map
Australian Visa Services
Currency - The Phuket News   Weather Report - The Phuket News   Surf Report - The Phuket News
LinkedIn - The Phuket News   Twitter - The Phuket News   YouTube - The Phuket News   Facebook - The Phuket News
Copyright © 2018 Class Act Media. All rights reserved. | Website usage terms and conditions | Privacy and Confidentiality Statement.