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Dec 12 (Reuters) - News Corp (NWSA.O) named Sunday Times editor Emma Tucker the new editor of the Wall Street Journal and Dow Jones Newswires on Monday. In his new role, Murray will take on “several critical growth projects supporting News Corp,” the company said. That vision appears to align with that of the Journal's publisher and Dow Jones chief executive, Almar Latour, who is credited with leading the digital transformation of the publication, which now boasts more than 3 million digital subscribers. “Emma is a brilliant, inspiring editor, with digital nous and the highest standards of integrity,” Thomson said in a statement on Monday. “She has been a thoughtful custodian of The Sunday Times and will bring verve and virtue to Dow Jones.

☆ CBS-owned stations added to free, rapidly growing local news streaming service VUit
▼ + stars: | 2022-12-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

He added: "It's a double-edged sword when making the transition to the [streaming] TV world." TV and streaming services are crawling all over each other for more content that retains viewers. Some companies like Sinclair have created their own free streaming services, and many affiliates use their websites and build their own apps to offer newscasts. VUit aims to work with CBS's local stations to boost their hyperlocal events on the platform and attract more eyeballs. A recent Iceman Challenge mountain bike race in Traverse City, Michigan, available only from local station WWTV on VUit's platform, garnered thousands of viewers.

☆ Rupert Murdoch will be deposed in a $1.6 billion defamation case involving Dominion Voting Systems, WaPo reports
▼ + stars: | 2022-12-06 | by ( Lloyd Lee | Cheryl Teh | ) www.businessinsider.com time to read: +2 min

Dominion Voting System is pursuing a $1.6 billion defamation case against Fox News. The lawsuit claims the network amplified false claims surrounding the 2020 election results. Rupert Murdoch, chairman of Fox Corp., will be the most senior executive to be deposed in the case. Dominion Voting Systems has filed several other defamation lawsuits regarding claims its machines helped rig the 2020 election. Attorneys for Fox News and Dominion Voting Systems did not immediately respond to Insider's request for comment.

☆ Rupert Murdoch will be deposed in Dominion's $1.6 billion lawsuit against Fox
▼ + stars: | 2022-12-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Fox Corp . Chairman Rupert Murdoch is scheduled to appear for a deposition next week as part of Dominion Voting's defamation lawsuit against the company and its cable TV networks. In its $1.6 billion lawsuit against Fox, Dominion has argued that Fox News and Fox Business made false claims that its voting machines were rigged in the 2020 presidential election between Donald Trump and Joe Biden. Earlier this year Fox's TV personalities, including Maria Bartiromo, Sean Hannity, Tucker Carlson and Jeanine Pirro, appeared for depositions. Dominion has argued Fox and its top executives played a role in Fox's TV personalities spreading misinformation about voter fraud. And with the Dominion case moving closer to the trial's expected start date in April, neither side has shown signs of entering settlement talks.

☆ Wall Street Journal insiders are buzzing about what a leadership shake-up could mean for Murdoch world
▼ + stars: | 2022-12-06 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +7 min

Sunday Times editor Emma Tucker is expected to replace Journal editor Matt Murray, Semafor reported. News Corp insiders believe Murdoch might make changes ahead of a possible recombination of News Corp and Fox. Is Rupert Murdoch planning to move his editorial chess pieces ahead of a potential recombination of News Corp and Fox? Last month, Semafor reported that Wall Street Journal editor Matt Murray is expected to be replaced by Emma Tucker, who leads fellow News Corp title The Sunday Times in London. That report followed the October disclosure that Murdoch is considering recombining News Corp with Fox Corp, with both companies convening special committees to review options.

☆ From Apple and Disney to Warner Bros. Discovery, here's the 2023 media deal outlook for Hollywood's biggest companies, according to 13 bankers and industry experts
▼ + stars: | 2022-12-06 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ Rupert Murdoch set to be deposed in Dominion’s $1.6 billion defamation case
▼ + stars: | 2022-12-05 | by ( Oliver Darcy | ) edition.cnn.com time to read: +1 min

New York CNN Business —Rupert Murdoch, the Fox Corporation chairman, is set to be deposed next week in Dominion Voting System’s $1.6 billion lawsuit against Fox News over its coverage of election fraud in the 2020 election. Rupert Murdoch’s son Lachlan, the CEO of Fox Corporation, was previously scheduled to be deposed Monday morning in Los Angeles. However, Fox has previously contested Dominion’s claims and said it was “proud” of its 2020 election coverage. Dominion is one of two election technology companies to have sued Fox News. Smartmatic, another voting technology company, has filed a $2.7 billion lawsuit against the network.

☆ Fox CEO Lachlan Murdoch to face questioning as part of Dominion Voting's $1.6 billion lawsuit
▼ + stars: | 2022-12-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Lachlan Murdoch, co-chairman and chief executive officer of Fox Corp., attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, July 11, 2019. Fox Corp . CEO Lachlan Murdoch is slated to appear for a deposition on Monday as the Dominion Voting Systems defamation lawsuit against the company and its cable networks moves forward. Dominion's lawsuit against Fox, which is seeking $1.6 billion in damages, has argued Fox News and Fox Business made false claims its voting machines rigged the results of the 2020 election between Donald Trump and Joe Biden. A Fox Corp. spokesman declined to comment on Thursday. Fox has previously asked the court to keep all collected materials private, claiming Dominion mischaracterized what the documents show as actual malice.

Netflix founder and co-CEO Reed Hastings said Wednesday he was slow to come around to advertising on the streaming platform because he was too focused on digital competition from Facebook and Google . "So Google and Facebook were going to mop up the world — and they have in non-TV advertising." Advertisers were "desperate" for avenues in connected TV and internet, Hastings said, but Netflix was still on the sidelines. "We didn't have to steal away the advertising revenue. There are also free streaming services, such as Paramount's Pluto and Fox Corp.'s Tubi, which make revenue solely through advertising.

☆ Lachlan Murdoch biographer breaks down his relationship with father Rupert Murdoch and why a merger of Fox and News Corp is about 'entrenching Lachlan's control'
▼ + stars: | 2022-11-30 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Rupert Murdoch remains executive chairman of News Corp and chairman of Fox. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. If you're looking longer-term about who's going to run the company beyond the merger, if it happens, [News Corp CEO] Robert Thomson is probably retiring.

☆ Amazon touts new data, security services to win cloud business
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: 1 min

LAS VEGAS, Nov 29 (Reuters) - Amazon.com Inc (AMZN.O) on Tuesday announced data and security services for businesses in an effort to win more sales and stay the largest cloud-computing provider, ahead of rivals Microsoft Corp (MSFT.O) and Alphabet Inc's (GOOGL.O) Google. At an annual conference in Las Vegas, its cloud division announced Amazon DataZone to help businesses control access to internal data, with Fox Corp as one of the launch customers, according to a press release. Other new services included Amazon Security Lake helping enterprises aggregate information from cybersecurity vendors and other sources. Reporting By Jeffrey Dastin in Las VegasOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto startup MoonPay hires Time president to lead its enterprise business
▼ + stars: | 2022-11-28 | by ( Riley De León | ) www.cnbc.com time to read: +7 min

In this article LTH Follow your favorite stocks CREATE FREE ACCOUNTKeith Grossman, Time president TIMEPieces Artist Jeremy CowartTime president Keith Grossman is leaving the legacy publisher to take on a new role as the president of enterprise at crypto startup MoonPay, effective December 31. Before his three-plus years at Time, Grossman had held leadership posts at major publishers including Bloomberg and Condé Nast-owned Wired. "I think it's important to separate a bad actor from an industry," Grossman said of the FTX fallout. Crypto's confidence crisisIn the 12 months since bitcoin topped out at over $68,000, the crypto industry, once valued at roughly $3 trillion, has fallen to around $900 billion. Enterprise adoption has been fueling this belief, with companies including Nike , McDonald's , Adidas and Starbucks launching their own NFT collections.

☆ News Corp shareholder T Rowe Price raises concerns over Fox merger - NYT
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +2 min

Nov 25 (Reuters) - T. Rowe Price (TROW.O), a major shareholder in News Corp (NWSA.O), said it had strong reservations about Rupert Murdoch's plan to reunite News Corp and Fox Corp (FOXA.O), The New York Times reported on Friday, joining other investors in dissent over the plan. T. Rowe Price told the newspaper that a merger of the two companies would probably undervalue News Corp, which it believes is trading for less than it is worth. T. Rowe Price owns about 17.88% of News Corp, according to Refinitiv data, and is the largest shareholder after the Murdoch family. Fox and News Corp declined to comment, while T. Rowe Price did not immediately respond to Reuters requests for comment. Independent Franchise Partners owns about 7% of News Corp's Class A shares and 6.4% in Fox Corp.

☆ Big Shareholder Signals Opposition to News Corp-Fox Combination
▼ + stars: | 2022-11-23 | by ( Alex Frangos | ) www.wsj.com time to read: 1 min

A major outside shareholder in News Corp and Fox Corp. opposes a plan by Rupert Murdoch to recombine the companies and wants other alternatives considered, including a breakup of News Corp. Independent Franchise Partners, a London-based investment firm and one of the largest non-Murdoch holders of both News Corp and Fox, said it told a special committee of News Corp’s board last month that it thought a combination on its own would fail to realize the full value of the company. It believes any combination should be done in conjunction with the sale of some of News Corp’s most valuable business units.

☆ Corporate America is bracing for a rise in activist investing. Meet the 13 lawyers on speed-dial when companies and investors fight for boardroom control.
▼ + stars: | 2022-11-23 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +11 min

Law firms including Olshan Frome Wolosky LLP and Schulte Roth & Zabel are go-tos for activist investors looking to change how companies do business. Kai Liekefett, who co-chairs Sidley's shareholder activism practice, last year successfully defended cloud company Box Inc. in a proxy fight by Starboard. Liekefett has also defended clients against major activist investors including Carl Icahn and Trian Partners. He has advised clients against major activist investors including Trian, Carl Icahn, Starboard Value and the billionaire Paul Singer. Lawrence Elbaum and Patrick Gadson, Vinson & ElkinsPatrick Gadson (L) and Lawrence Elbaum (R), co-heads of Vinson & Elkins' shareholder activism group.

☆ Activist investor asks News Corp to spin off unit instead of merger with Fox
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

Nov 21 (Reuters) - Activist investor Irenic Capital Management, which holds 2% of News Corp's (NWSA.O) Class B shares, has suggested a spin-off of the media company's digital real estate business or Dow Jones as an alternative to its merger with Fox Corp (FOXA.O). Shares of News Corp, which has a market value of $10.34 billion, were down 1.7% in morning trade. "Putting the two (News Corp and Fox) together makes no sense to us." In October, media mogul Rupert Murdoch proposed to reunite his media empire by combining News Corp and Fox Corp nearly a decade after the companies split. "The problem is they did not go far enough after they separated out News Corp in 2013," Huber added.

☆ Lachlan Murdoch biographer breaks down his relationship with dad Rupert and why his siblings want to change 'destructive' Fox News
▼ + stars: | 2022-11-10 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +9 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. Why did you want to write a book about Lachlan Murdoch? Did you talk to Lachlan Murdoch?

☆ Democratic upset in U.S. midterms could roil markets, options mavens say
▼ + stars: | 2022-11-08 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

NEW YORK, Nov 8 (Reuters) - An unexpected result in Tuesday’s U.S. midterm election could roil markets positioned for relative calm, options strategists said. Control of the U.S. Congress is at stake in Tuesday's midterms, with Republicans favored by polls and betting markets to win control of the House of Representatives and possibly the Senate. At the individual stock level, certain names have the potential for higher election-related volatility, strategists at Goldman Sachs said in a note earlier this month. Meanwhile, shares of tobacco company Philip Morris International Inc (PM.N) could be volatile around regulatory restrictions, Goldman’s analysts wrote. Reporting by Saqib Iqbal Ahmed in New York Editing by Ira Iosebashvili and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ European shares gain ground on boost from travel stocks
▼ + stars: | 2022-11-07 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

REUTERS/StaffSummarySummary Companies Flutter, Ryanair lead travel stocks higherTravel & leisure index hits near 3-month highsChina-exposed luxury companies declineIrish stocks rallyNov 7 (Reuters) - European shares rose on Monday, reversing declines from the opening bell, as a jump in travel stocks helped outweigh a drag from China-exposed luxury giants. The benchmark STOXX 600 index (.STOXX) added 0.6% by 0929 GMT, extending gains after its fourth straight weekly rise. Flutter Entertainment Plc rose 4.5%, boosting European travel & leisure stocks (.SXTP) by 2.3% and helping it touch a near three-month high. European luxury stocks, including LVMH (LVMH.PA), Pernod Ricard (PERP.PA) and Hermes International (HRMS.PA), dipped between 0.1% and 0.4%. Dutch fertiliser maker OCI (OCI.AS) fell 3.7% to the bottom of the STOXX 600 after J.P. Morgan cut its rating on the stock on softer quarterly outlook.

A dispute arose over the price Fox would pay for a stake in the market-leading FanDuel app, leading to arbitration that began in the spring of 2021. The sports betting app Fox Bet is available in four states, with just 0.2% share of the U.S. market, according to researcher Vixio. A free version called Fox Bet Super 6 has attracted some 6 million users whom Fox hopes to eventually convert to betters. The growth of Fox Bet has stagnated since Flutter acquired Stars Group, the company that helped launch Fox Bet and owns and operates the app. Fox claimed that Flutter failed to provide reasonable resources behind Fox Bet, a claim Flutter said the arbitrator rejected, finding that Flutter had agreed to commit "commercially reasonable" resources behind the offering.

Nov 4 (Reuters) - Fox Corp (FOXA.O) said an arbitrator on Friday reaffirmed its right to acquire a nearly one-fifth stake in FanDuel, settling a longstanding dispute with the betting app's owner, Flutter Entertainment Plc (FLTRF.L). The New York-based Judicial Arbitration and Mediation Services also settled a dispute over the price to exercise that option. Fox has a 10-year option to acquire an 18.6% stake of FanDuel for $3.7 billion. In April 2021, Fox filed its lawsuit against the Irish gaming company, seeking to secure its option to buy an stake in the market-leading FanDuel app. The arbitrator Friday settled on an option price based on a $20 billion valuation for FanDuel.

Nov 4 (Reuters) - Fox Corp (FOXA.O) said an arbitration court on Friday reaffirmed its right to acquire a nearly one-fifth stake in FanDuel, settling a longstanding dispute with the betting app's parent company, Flutter Entertainment Plc (FLTRF.L). The court also settled a dispute over the price to exercise that option. Fox has a 10-year option to acquire an 18.6% stake of FanDuel for $3.7 billion. Reporting by Dawn Chmielewski; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Fox Is Cleared to Buy FanDuel Stake for About $3.7 Billion
▼ + stars: | 2022-11-04 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

FanDuel is the market-share leader in online sports betting in the U.S.An arbitrator has ruled that Fox Corp. has the option to buy a stake in sports-betting operator FanDuel Group from parent company Flutter PLC for about $3.7 billion, the companies said Friday, settling a more than yearlong dispute over one of the biggest brands in U.S. online gambling. Fox filed a lawsuit with Judicial Arbitration and Mediation Services in April 2021 against Flutter arguing that the gambling giant was demanding too high a price for an option to buy an 18.6% stake in FanDuel.

☆ Kari Lake was a Fox TV anchor for decades. Her old station isn’t telling viewers.
▼ + stars: | 2022-11-03 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

New York CNN Business —It is as if Kari Lake never worked at Fox 10. Recent on-air coverage of her campaign that CNN reviewed makes no mention that Lake was a longtime anchor at the station. It was only eons ago, when Lake first declared her candidacy, that Fox 10 mentioned she had worked at the station. But Lake’s 22-year history at Fox 10 is a crucial part of her story. A spokesperson for Katie Hobbs, Lake’s opponent in the race, told me that their camp has certainly observed this conspicuous lack of disclosure.

☆ Paramount misses revenue estimates on ad weakness
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - Paramount Global (PARA.O) fell short of analysts' estimates for quarterly revenue on Wednesday, as the media giant struggled with the absence of major content releases and an extended weakness in ad sales. Total revenue rose 5% to $6.92 billion in the third quarter ended Sept. 30, but missed the average estimate of $7.01 billion, according to Refinitiv data. Paramount said advertising revenue declined 2% in the quarter. Revenue at TV Media, its biggest reporting segment, declined 5% to $4.95 billion, capturing the bulk of weakness in the ads market. Fox Corp (FOXA.O) on Tuesday reported better-than-expected quarterly revenue, with an 8% rise in ad revenue due to higher political advertising revenue on its TV stations.

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