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☆ 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?

☆ Warner Bros Discovery reports underwhelming revenue, says new streaming service coming earlier
▼ + stars: | 2022-11-03 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Discovery reported its third-quarter earnings on Thursday, missing analyst expectations, as it felt the effects of a tough advertising environment and costs associated with its post-merger restructuring. CEO David Zaslav also announced that the merged version of the company's HBO Max and Discovery+ streaming services will be coming in the spring, earlier than the previously announced summer release date. Here's what the company reported compared with analysts' expectations, according to Refinitiv:Revenue: $9.82 billion vs. $10.36 billion expectedThe company reported a loss per share of 95 cents, citing macroeconomic headwinds, particularly in advertising. Discovery is the result of a merger between AT&T's WarnerMedia and Discovery, which was completed earlier this year. Industry peer Paramount Global reported earnings on Wednesday, also missing analyst estimates as its TV and advertising revenue fell.

☆ Paramount Global shares slide as results miss and TV revenue falls
▼ + stars: | 2022-11-02 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Paramount Global on Wednesday reported $6.92 billion in revenue for its third quarter, an increase of 5% year-over-year. Yet the company's results missed expectations as it suffered from cord cutting and a drop in advertising revenue. Advertising revenue for the segment also dropped, a sign that macroeconomic headwinds are beginning to hit. Paramount said advertising revenue for its TV networks was down 3% to about $1.9 billion. The company noted it also restructured some of its international affiliate TV agreements during the quarter, which shifted revenue from pay-TV services to streaming.

☆ Women athletes now have their own sports network
▼ + stars: | 2022-11-02 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +4 min

The first-ever network to focus on female athletes, the Women's Sports Network, launched Wednesday, offering 24/7 streaming of original programming, competitions, documentaries and a daily studio show "Game On." The Women's Sports Network is a free, ad-supported network featured on streaming services including Amazon.com 's Freevee, Fox Corp .'s FuboTV and Tubi, along with smart TVs. The Women's Sports Network has partnerships with the Women's National Basketball Association, Women's Football Alliance, Ladies Professional Golf Association, U.S. Female athletes at the collegiate level are also proving to be winners in the NIL era, garnering deals with brands including Nike now that college athletes can be paid for their name, image and likeness. "The Women's Sports Network is exactly what athletes, fans and sponsors have been asking for," Mollie Marcoux Samaan, commissioner of the Ladies Professional Golf Association, said in a release announcing the network launch.

☆ Fox Corp beats revenue estimates on political ads demand
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Fox Corp (FOXA.O) reported better-than-expected quarterly revenue on Tuesday, as the Fox News parent benefited from an uptick in advertising spend ahead of the U.S. midterm elections. Fox Corp's revenue was also buoyed by higher affiliate fees and an influx of advertisers to its Tubi streaming service. Fox Corp is also deciding on whether to combine with News Corp (NWSA.O) after the companies said earlier this month that Rupert Murdoch had started a process that could reunite his media empire. Fox Corp's total revenue rose to $3.19 billion in the first quarter ended Sept. 30, from $3.05 billion a year earlier. Advertising revenue increased 8% in the quarter, primarily due to higher political advertising revenue at its TV stations, the company said.

☆ Fox earnings lifted by advertising revenue from free streaming service Tubi
▼ + stars: | 2022-11-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Fox Corp .'s bet on its free, ad-supported streaming service Tubi appears to be paying off for the company. On Tuesday, the company reported earnings for its first fiscal quarter, noting that Tubi helped boost its advertising revenue. Fox said its advertising revenue in the quarter was also propelled by political ads leading into the midterm elections. On a call with investors, Murdoch said that Tubi's revenue for the first time surpassed the advertising revenue generated by Fox Entertainment "in a meaningful way." Murdoch called the investment "very modest" when compared with premium subscription streaming services.

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☆ Rupert Murdoch is exploring the rejoining of Fox and News Corp into one single company
▼ + stars: | 2022-10-14 | by ( Claire Atkinson | Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Rupert Murdoch is considering bringing together Fox Corp and News Corp. Late Friday, News Corp announced it had formed a special committee to begin looking at a potential combination with Fox, following letters from Murdoch and the Murdoch Family Trust. While the television and film assets were renamed under a private company called 21st Century Fox, according to The Journal. The latter was eventually renamed as Fox Corp, and now owns Fox News, Fox Broadcast network, local television stations, and the Tubi streaming service. In May 2021, the younger Murdoch told Insider that "it's a terrific job."

☆ Canela.TV, a free Spanish-language streaming service with 23 million users, launches original shows
▼ + stars: | 2022-09-16 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

An upstart Spanish-language streamer is taking a big step into original content. Those networks and other Spanish-language content have captured some of the fastest-growing traditional TV audiences when it comes to average daily household viewership, according to data provider Samba TV. Canela said its streaming platform, which is available in the U.S., Mexico and Colombia, has 23 million unique users. Similar free ad-supported streaming services like Paramount Global's Pluto and Fox's Tubi have said they have nearly 70 million and 51 million active users, respectively. By the end of 2022, it will have 537 hours of original content.

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