Statement from News Corporation President and Chief Operating Officer Chase Carey Regarding Broadcast Television and Aereo
NEW YORK--(BUSINESS WIRE)-- News Corporation has a long-standing commitment to the broadcast television business, and to delivering the highest-quality entertainment, sports and news programming to our viewers on a localized basis. We are committed to broadcasting under a business model where programmers receive fair compensation from parties that want to redistribute our product while continuing to make our product available for free to individual consumers that want to access our signal.
We believe that Aereo is pirating our broadcast signal. We will continue to aggressively pursue our rights in the courts, as well as pursue all relevant political avenues, and we believe we will prevail.
That said, we wont just sit idle and allow our content to be actively stolen. It is clear that the broadcast business needs a dual revenue stream from both ad and subscription to be viable. We simply cannot provide the type of quality sports, news, and entertainment content that we do from an ad supported only business model. We have no choice but to develop business solutions that ensure we continue to remain in the drivers seat of our own destiny. One option could be converting the FOX (FOX) broadcast network to a pay channel, which we would do in collaboration with both our content partners and affiliates.
About News Corporation
News Corporation had total assets as of December 31, 2012 of approximately US$63 billion and total annual revenues of approximately US$34 billion. News Corporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.
For News Corporation
Scott Grogin, 310-369-4733
Dan Berger, 310-369-1274
Source: News CorporationCopyright Business Wire 2013