Seeking Alpha

News Corporation (NWS)

  • Feb. 17, 2014, 5:35 AM
    • News Corp (NWS) has received a rebate of A$882M ($796.62M) from Australia’s tax authorities after it won a legal battle over A$2B in forex losses that it suffered during a restructuring in 1989.
    • The Australian Tax Office had refused to allow the deduction but was defeated in the country's Federal Court in July.
    • The payment has only just come to light, although News Corp received the money at the end of last year.
    • The ATO's defeat exacerbates country's budget deficit, which is forecast at A$47B for FY 2013-14.
    | Feb. 17, 2014, 5:35 AM | 3 Comments
  • Feb. 7, 2014, 9:10 AM
    • Shares of News Corp (NWS, NWSA) move higher after the company beats profit estimates with its FQ2 report.
    • Deep cost-cutting helped make up for declining advertising revenue at the publishing conglomerate.
    • NWS +6.1% premarket
    | Feb. 7, 2014, 9:10 AM | Comment!
  • Jan. 21, 2014, 5:30 PM
    • Lex Fenwick, the CEO of News Corp.'s (NWS, NWSA) Dow Jones unit for the last two years, is leaving the company. Chief creative officer William Lewis has been named interim CEO. (PR)
    • News Corp. adds it's "reviewing the institutional strategy of Dow Jones." Among other things, it's planning "improvements" for the nascent DJX information service (still in beta mode), and asserts it's "redoubling" its efforts to "develop the Wall Street Journal and its digital properties globally."
    • In addition to the Wall Street Journal, Dow Jones owns Barron's,, and financial news service Factiva.
    | Jan. 21, 2014, 5:30 PM | 1 Comment
  • Dec. 14, 2013, 10:23 AM
    • The Hobbit: The Desolation of Smaug is on a pace to earn $68M-$72M this weekend in the U.S. to fall short of the haul the first Hobbit movie delivered last year. A tough weather mix may have been a small factor.
    • The film has done very well in global markets, earning the top spot in box office rankings in several markets and staying well-ahead of the international pace of its predecessor. The film's strong tally in Mexico and Germany shocked analysts.
    • Warner Bros. (TWX) is rolling the film out in international markets at a slower pace for strategic reasons. At the end of its protracted opening, media watchers expect Smaug to top the $1B global box office mark due to the strong global appeal it's displaying so far.
    • Hobbit spillover: Companies which might see a boost from the film's performance include  IMAX (IMAX), Dolby (DLB), and RealD (RLD) as moviegoers indicate a willingness to pay up for premium viewing. News Corp (NWS), which owns the Tolkien rights through HarperCollins Publishers, doesn't mind a little Hobbit fever as well.
    | Dec. 14, 2013, 10:23 AM | 12 Comments
  • Nov. 11, 2013, 4:26 PM
    • News Corporation (NWS): FQ3 EPS of $0.05 misses by $0.02.
    • Revenue of $2.07B misses by $0.11B. (PR)
    | Nov. 11, 2013, 4:26 PM | Comment!
  • Oct. 1, 2013, 10:50 AM
    • News Corp (NWS -1.5%) property HarperCollins launches an e-book subscription service with partner Scribd.
    • The link-up is interesting with Scribd boasting 80M users, although demand for many of the startup's titles could be underwhelming.
    • The Netflix-type model has been tried before with e-books, but the HarperCollins-Scribd version of new media meets old media is a fresh spin.
    | Oct. 1, 2013, 10:50 AM | Comment!
  • Sep. 11, 2013, 4:00 AM
    • Southeastern  Asset Management bought 11.9% of News Corp's (NWS, NWSA) voting rights, representing a 4.1% economic interest. Based on yesterday's closing price of $16.72, the stake is worth around $397M.
    • The investment firm has the second-largest holding behind Rupert Murdoch, who owns 39% of News Corp.'s voting stock, or a 14% economic interest.
    • Southeastern said it has no plans to influence News Corp. and is known for value investing. However, it's worth noting that Southeastern joined with Carl Icahn to oppose Michael Dell's buyout of Dell, and in a shareholder revolt at Chesapeake Energy. (Previous)
    | Sep. 11, 2013, 4:00 AM | Comment!
  • Sep. 10, 2013, 4:41 PM
    • Southeastern Asset Management reports an 11.9% passive stake in News Corp. (NWS, NWSA).
    • SEC Form 13G.
    | Sep. 10, 2013, 4:41 PM | Comment!
  • Sep. 4, 2013, 10:35 AM
    • Newcastle Investment (NCT -2.2%) acquires Dow Jones Local Media Group from News Corp. (NWS, NWSA) for $87M.
    • Local Media operates 33 local publications in 7 states. The business will now be managed by GateHouse Media (GHSE.PK), an affiliate of Fortress Investment (FIG), which is Newcastle's manager.
    • Newcastle owns about 52% of GateHouse's $1.2B in debt and it and other creditors have agreed on a prepackaged Chapter 11 filing in which Newcastle expects to convert its debt holdings into equity of GateHouse.
    • Presentation and conference call at 2:30 ET.
    • Press release.
    | Sep. 4, 2013, 10:35 AM | Comment!
  • Sep. 4, 2013, 7:14 AM
    • News Corp (NWS) sells Dow Jones Local Media Group to an affiliate of Fortress Investment Group for an undisclosed amount.
    • The unit operates 33 local papers across the U.S.
    | Sep. 4, 2013, 7:14 AM | Comment!
  • Sep. 3, 2013, 1:57 PM
    • Along with Permira, KKR is selling an 11 stake in German broadcaster ProsiebenSat.1. The value of the shares is about $1.05B and the two P-E partners will retain a combined stake of 33%.
    • It was reported back in February that the two were considering options for their stake in the broadcaster. Potential suitors mentioned then included Time Warner (TWX), Comcast (CMCSA), and News Corp (NWS, NWSA).
    | Sep. 3, 2013, 1:57 PM | Comment!
  • Aug. 29, 2013, 1:34 PM
    • All Things Digital is looking for a heavyweight media company to partner up with, according to reports.
    • NBCUniversal (CMCSA) has already presented a bid, while current partner Dow Jones (NWS) could extend its current deal with the tech website.
    | Aug. 29, 2013, 1:34 PM | 1 Comment
  • Aug. 11, 2013, 1:25 AM
    • U.S. District Judge Denise Cote is considering restricting the kind of ebook deals that Apple (AAPL) can formulate with five publishers for five years, including preventing the company from discounting ebooks for at least two years.
    • Cote may also prevent Apple from negotiating with publishers at the same time in order to prevent the kind of price collusion that Cote has found them liable for.
    • However, Cote may not impose a court-appointed external monitor on Apple, as requested by the DOJ.
    • The publishers involved include News Corp's (NWS) HarperCollins, CBS's (CBS) Simon & Schuster and Penguin Random House (PSO).
    • Cote has also started scheduling proceedings that could lead to a damages trial. While states and consumers haven't yet put a price on the amount suffered, an Apple layer said the figure could reach the "hundreds of millions of dollars." (previous)
    | Aug. 11, 2013, 1:25 AM | 5 Comments
  • Aug. 7, 2013, 2:05 AM
    • Twenty-First Century Fox (FOX): FQ4 adjusted EPS of $0.31 misses by $0.03. Revenue of $7.21B (+16% Y/Y) beats by $70M.
    • Losses narrow to $371M from $1.55B a year ago.
    • Income from continuing operations +64% to $977M.
    • Fox's pay TV channel revenues +16% to $2.95B, boosted by fee increases and a 10% rise in ad revenues.
    • Revenue from local Fox broadcast TV stations flat at $1.1B.
    • Movie studio revenue +3% to $2.04B
    • Revenue from European satellite TV ops +45% to $1.38B
    • Fox to spend $200M launching new TV channels, including a new national sports network next week, and $150M on Fox broadcast network.
    • Operating loss from discontinued operations - ie News Corp. (NWS) - $1.35B vs $2.15B a year ago.
    • Fox expects adjusted operating income to increase by a "high single- to low double-digit" percentage in FY 2014 from $6.26B in the year just completed. (PR)
    | Aug. 7, 2013, 2:05 AM | Comment!
  • Jul. 26, 2013, 4:42 AM
    Nasdaq (NDAQ) is one of a number of companies that fell victim to an East European hacking group that stole at least 160M payment-card numbers and caused combined losses of over $300M. Federal prosecutors yesterday charged five men in the largest cyber-crime case in U.S. history. Other victims include a Visa (V) licensee, J.C. Penney (JCP), JetBlue (JBLU), Heartland Payment Systems (HPY), Dow Jones (NWS) and Wet Seal (WTSL). Many of the breaches were known about, although prosecutors disclosed an attack on Nasdaq that wasn't previously publicized.
    | Jul. 26, 2013, 4:42 AM | Comment!
  • Jul. 14, 2013, 1:33 AM
    Rupert Murdoch could face criminal charges in the U.S. over a secret recording in which he indicated that payments to public officials for information was part of the culture of U.K. journalism, says New York lawyer Bradley Simon. The tape raises two issues: firstly, Murdoch implied he may have known about bribery at News Corp.'s (NWS) U.K. operations; secondly, the recording may undermine his testimony to regulators, with lying to law enforcers a crime under Title 18, Section 1001.
    | Jul. 14, 2013, 1:33 AM | 8 Comments
Visit Seeking Alpha's
NWS vs. ETF Alternatives
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.