News Corp.'s publishing spinoff will be armed with $2.6 billion in cash and no debt, demonstrating Chairman Rupert Murdoch's passion for print even as the new company confronts an industry in decline.The cash pile could come in handy for acquisitions or just to shore up the publishing business, which includes the Wall Street Journal in the U.S. and the Sun newspaper in the U.K. The unit, which will become a separate publicly held business in June, will also have access to a revolving credit line, New York-based News Corp. said today in a filing.Mr. Murdoch, News Corp.'s founder and chief executive officer, is breaking off the division from the company's entertainment operations, which will be called Fox Group Inc. News Corp. agreed to the spinoff last year, bowing to pressure from shareholders who wanted the company to focus on its more valuable television and film businesses.News Corp. rose 1% to $30.25 at 10:20 a.m. The stock had increased 17% this year through yesterday, compared with an 8.3% gain for the Standard & Poor's 500 Index.The publishing spinoff will have $18.6 billion in total assets. Its debt-free balance sheet puts it far ahead of publishers such as New York Times Co., with $163 million in net debt; Gannett Co., with $1.26 billion; and McClatchy Co., with $1.78 billion, according to data compiled by Bloomberg.The parent company will give $1.82 billion in cash to the new publishing business, pushing its total to $2.6 billion, according to today's... Continue reading at 'Crains New York'
[ Crains New York | 2013-03-08 00:00:00 UTC ]
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News Corp., the newspaper publisher that owns The Wall Street Journal and the New York Post, beat profit estimates and posted gains in real-estate services and book publishing, even as advertising... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2014-02-07 00:00:00 UTC ]
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Social news agency distributes video and user-generated content to news organisations such as the BBC and ITNNews Corp has bought Dublin-based social news agency Storyful for €18m (£15m).Rupert Murdoch's global publishing business said Storyful would remain a stand-alone operation that would... Continue reading at The Guardian
[ The Guardian | 2013-12-20 00:00:00 UTC ]
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News Corp. is looking for a buyer for its Brooklyn-based local newspaper operation. Capital has learned that the global publishing conglomerate, which also owns The Wall Street Journal and the New York Post, has issued a prospectus to potential b ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-12-11 00:00:00 UTC ]
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News Corp, the recently spun off publishing side of Rupert Murdoch’s media empire, reported that its revenue fell in the first quarter of its fiscal 2014, due to lower advertising revenue and foreign exchange fluctuations. The company re ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-11-12 00:00:00 UTC ]
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News Corp., the publisher of newspapers such as the Wall Street Journal and New York Post, reported a 2.8% decline in first-quarter revenue, hurt by shrinking demand for print advertising.Sales fell to $2.07 billion in the period, which ended on Sept. 30, down from $2.13 billion a year earlier,... Continue reading at Crains New York
[ Crains New York | 2013-11-12 00:00:00 UTC ]
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News Corp., the publisher of newspapers such as the Wall Street Journal and New York Post, reported a 2.8% decline in first-quarter revenue, hurt by shrinking demand for print advertising.Revenue fell to $2.07 billion in the period, which ended on Sept. 30, down from $2.13 billion a year... Continue reading at Advertising Age
[ Advertising Age | 2013-11-12 00:00:00 UTC ]
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Media mogul Rupert Murdoch's publishing company News Corp. swung to a profit in its fiscal first quarter -- its first financial reporting period as a stand-alone company -- but revenue slipped nearly 3%. Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-11-12 00:00:00 UTC ]
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News Corp.—which now includes The Wall Street Journal but not 20th Century Fox—is adopting a new strategy for making money from digital advertising: It will no longer sell inventory through outside ad networks but will handle those automated sales itself.The news and information company, which... Continue reading at Crains New York
[ Crains New York | 2013-08-22 00:00:00 UTC ]
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News Corp today announced plans to launch a global programmatic ad exchange that will let advertisers buy across its more than 50 online and mobile products including WSJ.com, Times.co.uk and NYPost.com. News Corp is far from the first to jump on the automated selling trend; other premium... Continue reading at AdWeek
[ AdWeek | 2013-08-21 00:00:00 UTC ]
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Rupert Murdoch's media empire, News Corporation, officially separates into two companies, splitting its publishing arm from its entertainment division. Continue reading at BBC News
[ BBC News | 2013-06-29 00:00:00 UTC ]
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News Corp.’s long-awaited split is official. Rupert Murdoch’s media behemoth Friday completed the separation of its entertainment from its news and information businesses into two publicly traded companies. The new News Corp (spelled with no period, differentiating it from the previous... Continue reading at AdWeek
[ AdWeek | 2013-06-29 00:00:00 UTC ]
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Rupert Murdoch's media empire News Corp is in the process of being split into separate publishing and entertainment companies. Continue reading at BBC World
[ BBC World | 2013-06-28 00:00:00 UTC ]
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The incoming boss of News Corporation's publishing business believes there are reasons to be optimistic about the print industry as its newspapers are reshaped for the digital age. Robert Thomson, who will head the 'new News Corp' once ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-06-06 00:00:00 UTC ]
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News Corporation's board of directors has approved the plans to separate its cable and broadcasting networks from its troubled publishing businesses, paving the way for it to take place on 28 June. Continue reading at Media Week
[ Media Week | 2013-05-28 00:00:00 UTC ]
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News Corp announces it will officially split its publishing and entertainment businesses on 28 June, two years after the UK phone-hacking scandal involving the News of the World. Continue reading at BBC News
[ BBC News | 2013-05-24 00:00:00 UTC ]
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Rupert Murdoch's News Corp will start its new life as a mainly-publishing company with no debt and $2.6bn (£1.7bn) in cash when it is spun off. Continue reading at BBC News
[ BBC News | 2013-03-09 00:00:00 UTC ]
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News Corporation’s new publishing company will get an infusion of $2.6 billion in cash and will have no debt when it separates from the company’s higher-growth cable channels and Hollywood studio this summer. In a filing with the ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-03-08 00:00:00 UTC ]
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It burned through at least $40 million and never came close to turning a profit, but that doesn’t mean The Daily was a failure, according to Robert Thomson, the soon-to-be CEO of News Corp.’s publishing spin-off. “It wa ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-02-08 00:00:00 UTC ]
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j2 Global continues to build out its digital media portfolio with the acquisition of popular gamer lifestyle brand IGN Entertainment, a News Corp property. Terms of the deal were not disclosed. Continue reading at Folio Magazine
[ Folio Magazine | 2013-02-05 00:00:00 UTC ]
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