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News Corporation (NWS)

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  • May. 1, 2012, 7:39 AM
    The bit between its teeth, A U.K. parliamentary panel accuses Rupert Murdoch of "willful blindness" over the depth of the phone hacking at News Corp.'s (NWS) British newspapers and says he is "not a fit person" to manage a multinational corporation. In a scathing report, MPs also castigate the firm's "huge failure of corporate governance."
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  • Apr. 30, 2012, 6:54 PM
    Hulu's media industry owners, desperate to protect existing revenue streams from the threat of cord-cutting, plan to require users looking to stream network TV shows prove they have a pay-TV subscription, the NY Post reports. It's added NBC owner Comcast (CMCSA) will insist on authentication model for streaming the 2012 Summer Olympics. (previous)
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  • Apr. 27, 2012, 8:12 AM
    In Day 2 of testimony before a media ethics panel, Rupert Murdoch (NWSA) called phone hacking at News of the World “totally wrong, and I regret it,” while accusing a senior lawyer at the shuttered paper of being behind a “culture of cover-up.” It "was an aberration and it’s my fault. The senior executives were all… misinformed and shielded from anything that was going on there."
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  • Apr. 26, 2012, 8:43 PM
    Providence Equity Partners is selling its 10% stake in Hulu to co-owners Disney (DIS), Comcast (CMCSA), and News Corp. (NWS, NWSA) at a $2B valuation, Bloomberg reports. The valuation is just slightly above $1.9B offer Dish Network reportedly made for Hulu before last year's sales process was cancelled. Hulu's revenue rose 60% last year, but is still only a fraction of Netflix's (NFLX).
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  • Apr. 24, 2012, 12:47 PM
    James Murdoch receives another grilling at a U.K. inquiry, where he again washes his hands of responsibility for the various phone hacking and other dubious practices at News Corp.'s (NWS) U.K. ops. Murdoch also denies he tried to use News Corp.'s power in the media to get its bid for BSkyB (BSYBY.PK) approved. Tomorrow, his Dad appears.
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  • Apr. 23, 2012, 8:56 AM
    U.K. regulator Ofcom launches an investigation into Sky News following its recent admission that it twice authorized its reporters to break into emails for "the public interest." Sky News is owned by BSkyB (BSYBY.PK), in which News Corp. (NWS) holds 39%.
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  • Apr. 20, 2012, 5:30 PM
    Having just announced it would begin selling ads for original content, Hulu says it will add 4 new original shows: We Got Next, The Awesomes, Don't Quit Your Daydream, and Flow. Web video rivals Netflix (NFLX), Amazon (AMZN), and Yahoo (YHOO) are also stepping up their investments in original programming, to the slight consternation of studios and traditional TV networks.
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  • Apr. 20, 2012, 8:43 AM
    News Corp.'s (NWSA) U.K. newspaper unit is facing 46 more civil lawsuits that have been filed in British court alleging voice-mail interception by its now-closed News of the World tabloid. Yesterday, British police arrested three people, including an employee of the Sun, in an ongoing investigation of alleged bribery of public officials by journalists.
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  • Apr. 18, 2012, 5:33 PM
    Apple (AAPL) wants to take its e-book pricing dispute with the DOJ to trial, a company lawyer told a District Judge today. The court was also told by a HarperCollins (NWS, NWSA) lawyer 15 states are in settlement talks with 3 publishers, and all 50 states might settle. Meanwhile, the EC says it has received settlement proposals from Apple and 4 publishers over its own probe into e-book prices.  (previous)
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  • Apr. 18, 2012, 8:16 AM
    News Corp. (NWSA) is expected to suspend half the voting rights of its non-American shareholders to comply with a U.S. law limiting foreign ownership, after discovering it had breached the rule, WSJ reports. During a company review, NWSA found voting stock held by foreign investors had risen above the 25% limit set by the Communications Act of 1934.
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  • Apr. 17, 2012, 6:15 AM
    It's a ritual that's usually for established cable channels and network broadcasters, but on Thursday Hulu will pitch original progamming to advertisers. The online video company is also expected to announce that its $8-a-month Hulu Plus service has topped 2M subscribers for the first time.
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  • Apr. 16, 2012, 5:55 PM
    As U.S. box office receipts and DVD sales remain under pressure, Hollywood can take heart in China's potential. In February, China said it would increase the number of foreign films allowed in a year to 34 from 20, and would allow studios to keep 25% of receipts (up from a prior 13.5-17.5%). This comes after a year in which Chinese receipts grew 35% to $2B. Nonetheless, studios remain concerned the Chinese government is ultimately focused on promoting its own film industry.
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  • Apr. 13, 2012, 9:54 AM
    A British parliamentary report into the phone hacking scandal may lead to News Corp. (NWSA -0.9%) being forced into cutting or selling its stake in highly profitable BSkyB (BSYBY.PK), having already dropped its bid to buy it outright last year. The report is widely expected to criticize Robert Murdoch's firm, raising the possibility that British broadcast watchdog Ofcom will take action.
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  • Apr. 12, 2012, 2:07 PM
    Lawyers representing a number of public figures in the News Corp (NWSA +2.2%) phone hacking scandal plan to file three civil lawsuits in U.S. courts. The claims center around two high-profile sports figures and one prominent U.S. citizen, and are the first legal actions to be filed in the U.S. related to the scandal.
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  • Apr. 11, 2012, 3:11 PM
    The DOJ's e-book settlement with Simon & Schuster (CBS), Hachette, and HarperCollins (NWS, NWSA) requires deals with Apple (AAPL) to be terminated and renegotiated, along with other contracts that restrict an e-book retailer's ability to set final prices (e.g. their deals with AMZN and BKS). However, the settlement doesn't mandate publishers adopt a wholesale distribution model, such as the one Amazon originally used to discount e-book prices.
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  • Apr. 5, 2012, 2:01 PM
    The dependence of U.S. movie studio owners such as DWA, DIS, LGF, CMCSA, NWS, and TWX on international markets continues to grow. IHS estimates the top 100 grossing films in the U.S. received 58.4% of their box office sales overseas, up 110 bps Y/Y. This growing reliance on international receipts, intensified by weak U.S. DVD sales, is problematic for genres such as sports dramas and comedies, which aren't well-received overseas.
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Company Description
News Corp is a diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers and businesses.