Rupert Murdoch Comments on Fox Interactive's Growth

Aug. 09, 2006 6:03 AM ETNews Corporation (NWS)

On News Corporation's (NASDAQ:NWS) Q4 2006 earnings conference call, Chairman and CEO Rupert Murdoch discussed the Company's prospects for FOX Interactive Media, specifically in light of the recent MySpace.com deal with Google (GOOG):

Rupert Murdoch:
Our newest efforts, the most exciting of which for me are our digital media assets represent our next generation of growth, poised to become drivers in the same way SKY Italia or FOX News or STAR are for us today. Indeed we just marked the third anniversary of FOX Interactive Media, fittingly marked with a Google deal we announced yesterday, and I think it's been a year of which we can be very satisfied, though not content.

In the space of just one year we've catapulted ourselves into a leadership position. Much of our success, of course, comes from MySpace, but it's not the only one. We're also enjoying strong performances from our category-leading sites across sports, gaming, lifestyle and entertainment. Our FOX Interactive properties now reach an audience of more than 75 million people a month. In fact, one in four people in America are now on our networks interacting with our content, tools and services. If you factor in our Internet assets, this number grows to more than 100 million people.

In the month of June alone, our web properties at FOX Interactive attained 30 billion page views, second only to Yahoo! and just yesterday served 4 billion ads. Today, more specifically this morning, I'm pleased to report that MySpace registered its 100 millionth user. As our traffic increases, so do our opportunities to monetize this volume directly through advertising and indirectly by bringing consumers to our more traditional content businesses.

The deal with Google, which we are guaranteed $900 million in payments across the next four years, is strong testament to our ability to monetize

This article was written by

Abbi Adest is a U.S born writer and editor. At Seeking Alpha, Abbi covers new IPOs and edits the work of numerous writers.

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