Lachlan And James Murdoch Given Big New Roles At News Corp, 21st Century Fox; Fox Nets Group’s Peter Rice Extends Contract

UPDATE: Below the original post is a copy of Rupert Murdoch’s memo to staff at 21st Century Fox regarding today’s appointments. In it, he notes that the evolution of the company’s leadership, “underscores the considerable planning that both the Company and the Board have undertaken to ensure a … Read More »

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Chase Carey: Fox Network Is A “Work In Progress” But On Track

By | Tuesday March 11, 2014 @ 6:34am PDT

The 21st Century Fox COO acknowledges that with disappointments including the failure of The X Factor the “results are not what we want.” Chase CareyStill, Chase Carey told the Deutsche Bank Annual Media, Internet & Telecom Conference this Read More »

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Chase Carey Says ‘The Simpsons’ Opens Digital Opportunities For FXX

By | Thursday February 6, 2014 @ 7:25am PST

Fox hopes to “create some precedents” with its digital plans for The Simpsons later this year when the long-running animated series will become “the face” of FXX, COO Chase Carey told analysts this morning in a call to discuss fiscal Q2 earnings.The-Simpsons-image-5__130806024809-275x314 No specifics yet — but the exec says that it’s one of the reasons why Fox decided to keep the re-run rights instead of licensing to someone else. “There are times when our distribution businesses have a unique ability to take advantage of a set of rights. And The Simpsons is a perfect example.” The show will “help brand…and help drive” FXX, Carey adds, but Fox isn’t “turning it into The Simpsons Channel.” Would a similar strategy also make sense for, say, FX’s The Americans? Not necessarily, Carey says. “When you get to a one-size-fits-all [strategy], I don’t think that’s the way to go….What we’re not going to do is undersell the content” when others “see values that exceed what it’s worth to us.” Read More »

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UBS Confab: Chase Carey Calls A La Carte Pay TV Pricing A “Farce”

By | Tuesday December 10, 2013 @ 11:27am PST

The 21st Century Fox COO has a lot at stake in preserving the pay TV bundle, and scoffs at consumers’ continuing interest in a la carte pricing. Chase-Carey_20110715233131“It is a farce,” he told the UBS Global Media and Communications Conference. “People may want different bundles, but a la carte isn’t the answer…The bundle is still a great proposition for the consumer, when you compare it to the world of $5 lattes and cell phone bills.” Chase Carey concedes that pay TV networks and distributors have been too slow to offer content on the Internet. “TV Everywhere is the right path but has been poorly executed….We have to be part of the solution, not just sitting here, picking and complaining.” That will have to include developing business models for digital. “We haven’t scratched the surface.” He’s glad, though, that his company, Disney and Comcast decided not to sell Hulu. “Once we became convinced we had a shared vision for the opportunity, we moved naturally to a place …where we put the capital commitments behind it.” Read More »

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Chase Carey: Fox Follows No Set Formula For Designing Its Film Slate

By | Tuesday November 5, 2013 @ 3:09pm PST

Sounds like the 21st Century Fox COO either hasn’t read, or was unpersuaded by, Anita Elberse’s new book Blockbusters. The Harvard Business School professor is generating a lot of buzz in media circles with her argument that entertainment companies — including movie studios — incur less risk when they bet on a few big-budget extravaganzas than they do when they spread cash across many smaller productions. But Chase Carey had a different take today at an earnings call with analysts when he was asked whether the industrywide growth in spending on tentpole films is a mere fad or a fundamental shift in studio strategies. “The minute you start believing that there are formulas for what kinds of films to make you’re putting yourself in a corner,” he says. “You look for great films. Some will be on the high end, some on the low, and some in the middle.”

Related: Fox: Programming Investments Contributed To Earnings Miss
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James Murdoch Named Chairman Of Sky Deutschland’s Supervisory Board

After ankling many of his European board seats in the wake of the phone-hacking scandal at News Corp’s UK press arm, James Murdoch has been elected Chairman of the supervisory board of Sky Deutschland. The … Read More »

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Rupert Murdoch’s Earnings Drop To $28.9M For Fiscal 2013

By | Friday August 30, 2013 @ 5:33am PDT

21st Century Fox, the media and entertainment company created out of the split of News Corp, filed a definitive proxy statement with the SEC today, revealing some interesting figures. Among them is the news that chairman and CEO … Read More »

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Will Fox Regret Its Big Bet On Pay TV’s Status Quo?

By | Saturday August 10, 2013 @ 3:03pm PDT

21st Century Fox execs had better pray that CBS crushes Time Warner Cable in their now week-long program carriage contract dispute. If CBS can’t win a fat increase in the fee that TWC pays to carry the network-owned stations, Showtime, and other channels, then Fox’s day-long effort Thursday to rally Wall Street’s support for its stock could look like a waste of time. Fox’s business plan is based on its faith that pay TV providers — and perhaps their customers — will keep paying rising amounts for a bundle of channels.  “People will give up food and a roof over their head before they give up television,” Fox COO Chase Carey told analysts and investors. Fox will take advantage of that addiction by creating new pay TV channels, raising prices for existing ones, and demanding higher payments for its Fox broadcast stations. Read More »

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Chase Carey Says Perceived Threats To Big Media Are Just “Noisy Headlines”

By | Thursday August 8, 2013 @ 9:36am PDT

21st Century Fox‘ COO came out swinging against those who say that companies like his — built on the bundled channel pay TV model — are headed for a fall. Chase Carey told analysts today that it’s a … Read More »

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Fox’s Chase Carey On Hulu: “Partnerships Are Complicated”

By | Tuesday August 6, 2013 @ 3:14pm PDT

Holding on to Hulu and moving forward was all about relationships said Chase Carey today. “I think it is really a case where we’ve always known the importance of these digital platforms and the opportunity specifically in Hulu. I think the real question is partnerships are complicated and can we get the right strategy that we both believe we can execute to be successful,” said the 21st Century Fox COO Tuesday about working with co-owners Disney and Comcast. Carey was speaking on a conference call Tuesday after the company released its Q4 results. He was joined by Deputy COO James Murdoch and CFO John Nallen. “As we went through this process we really found that of all the constituencies coalesced around a vision of how to really build this and how it can be something exciting for content owners and something exciting for the digital marketplace,” he added. After weeks of speculation that Hulu would be sold, 21st Century Fox, Disney and Comcast announced on July 12 that they would keep the company and supply $750 million to push it’s growth.

Related:Fox Shares Rise As Fiscal Q4 Earnings Beat Expectations

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Chase Carey Says Broadcasters Need To Break Rules

By | Wednesday May 8, 2013 @ 2:58pm PDT

It isn’t the kind of thing a network exec wants to admit the week before broadcasters open the upfront ad sales season. But the News Corp COO, in a quarterly call with analysts, couldn’t avoid the fact that this season’s ratings declines show “it’s not been a great year for the broadcast business overall from a creative perspective.” Carey says it’s time for networks to “discard a few habits and rules and take some shots. Hopefully next week will be the beginning of that process.” While he didn’t offer specifics, he says one possibility is to “be a bit more targeted [in programming] and invest deeper—take fewer bets and bet deeper.” Carey acknowledged that as digital video becomes more popular “there’s no question there’ll be more and more choices and people will find those choices.” But the exec says he still has faith in broadcasting — as long as it can collect revenues from subscriptions as well as ad sales. He declined to offer more insight into his recent threat to make Fox a pay TV service if the courts jeopardize the dual revenue stream model. Some analysts say that could happen if justices agree that streaming service Aereo can distribute local over-the-air signals without paying broadcasters. “If that dual revenue stream is not available, there are other paths we can pursue,” Carey says. He adds that the “most exciting” opportunity for Hulu is to focus on boosting subscriptions. Broadcasters can add “original and other unique product” and “take advantage of its leadership position in the digital space.” Read More »

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Chase Carey Threatens To Make Fox A Pay TV Channel If Aereo Prevails

By | Monday April 8, 2013 @ 11:15am PDT

BREAKING…This would be a nuclear option for News Corp, which owns 27 TV stations and serves dozens of affiliates. But the company COO’s threat to take Fox off the public airwaves — made today at the NAB annual confab in Las Vegas — suggests how deeply concerned broadcast moguls are about the possibility that they might lose their legal battle against Aereo, and how much that could undermine their ability to extract retransmission consent fees from cable and satellite providers. Aereo uses tiny antennas to capture broadcasters’ over-the-air signals which it then streams to local subscribers. It does so without TV stations’ permission, and without paying them a dime. Broadcasters say that violates their copyrights. But last week a U.S. Appeals Court rejected the industry’s plea to shutter Aereo during the trial over that claim. What’s more, it seemed to favor Aereo’s counterargument that it simply rents antennas, enabling customers to watch transmissions already available to them for free.

If Aereo prevails — and cable and satellite companies decide that they, too, can retransmit broadcast signals for free — then Carey says “We have no choice but to develop business solutions that ensure we continue to remain in the driver’s seat of our own destiny. One option could be converting the Fox broadcast network to a pay channel, which we would do in collaboration with both our content partners and affiliates.” News Corp-owned stations collected about $308M in retransmission consent fees last year, SNL Kagan estimates. That’s up 20% vs 2011 and accounted for about 19% of their total revenues. Read More »

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Chase Carey: New Fox Sports Channel Will Lose Money While Company Raises Rates

News Corp’s COO assured investors this morning that the introduction later today of the Fox Sports 1 cable network is a smart long term strategy, even though it will result in losses for the next few years. The company … Read More »

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News Corp Exec Calls Sports Network Plans “The World’s Worst Kept Secret”

By | Wednesday February 6, 2013 @ 2:58pm PST

I don’t usually feel sorry for News Corp execs. But I came close to doing so this evening as COO Chase Carey on a conference call with analysts was forced to pretty much confirm the widely reported, although … Read More »

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‘X Factor’ “Disappointment” Contributed To Fox’ Ratings Problems: Chase Carey

By | Wednesday February 6, 2013 @ 2:29pm PST

Simon Cowell’s talent contest failed to generate the ratings that Fox needed, and execs expected. “We went into the competition round [hoping] to get fresh energy,” COO Chase Carey told analysts in a conference call.Read More »

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Chase Carey Added To NAB Show Opener

By | Monday November 26, 2012 @ 9:15am PST

WASHINGTON–(November 26, 2012)–The National Association of Broadcasters announced today that News Corporation President and Chief Operating Officer Chase Carey will participate in a question-and-answer session with NAB President and CEO Gordon Smith during the 2013 NAB Show opening

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Chase Carey: Fall TV Ratings Are “Below Our Expectations”

By | Tuesday November 6, 2012 @ 3:07pm PST

The News Corp COO not surprisingly says that changing viewership patterns — not mediocre shows — are primarily responsible for broadcasters’ startlingly weak primetime ratings this fall. “We recognize we’re below our expectations …we’re realistic about … Read More »

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News Corp’s Chase Carey On ‘American Idol’ Changes

By | Thursday September 20, 2012 @ 11:13am PDT

The COO’s comment at the Goldman Sachs Annual Communicopia Conference should enable American Idol’s producers to breathe a little easier. Chase Carey publicly warned the show last February that it needed “fresh energy” as it slogged through … Read More »

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Chase Carey’s Star Rises On Wall Street After News Corp Split Announcement

Chase Carey News CorpRupert Murdoch was the one taking the bows last week when News Corp announced its intention to split into two entities: one housing its vibrant entertainment assets and another with its older publishing ones. But COO Chase Carey is getting much of the glory in the eyes of shareholders, even though he’ll keep the No. 2 job at the entertainment unit where Murdoch will be CEO and chairman; Murdoch also will be chairman of the publishing company, with a CEO to be named later. News Corp shares have jumped 12% in the week since the news first broke. That’s at least partly due to the perception that the arrangement will shift power from Murdoch to Carey. “In a perfect world we would have liked to see Chase Carey in the CEO role and Rupert move up to the chairman role,” a senior fund manager at Invesco — News Corp’s third-biggest investor — says today in the UK paper The Telegraph. Kevin Holt adds that “Chase Carey’s involvement in this company is very important to our ownership.” Read More »

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