Economy

Books, real estate pace beat for News Corp

Books, real estate pace beat for News Corp

News and Telstra in April combined their 50% interests in Foxtel and News Corp's 100% interest in Fox Sports Australia into a new company.

News Corp Australia reported growth in digital advertising revenues, however overall revenue was down 3 per cent over the quarter.

News Corp posted a 29% lift in full year revenue to $US2.69 billion.

News Corp has fallen to a $1.4bn loss for the year 2017/18, over double its comparable losses for the previous year which stood at a more manageable $643m - although this year's figures were skewed by a one-off $998m write down relating to the consolidation of Foxtel and Fox Sports in Australia.

In Q4, Digital Real Estate segment revenues increased 20% y-o-y to $299 million, and the segment's EBITDA further grew 14% y-0-y to $99 million, largely due to continued growth at REA Group and Move. According to the company's internal figure, closing digital subscribers at News Corp Australia's mastheads as of June 30, 2018 were 415,600, compared to 363,600 in the prior year.

"Improving subscription volumes will be key to our long-term value creation" for that business, Panuccio also said, adding over-the-top (OTT) "will be a key growth initiative and our goal will be to maintain the broadcast subscriber base and manage churn effectively".

Samsung to invest billions in artificial intelligence and 5G
Talented students will receive opportunities to work at overseas research centers under cooperation with Samsung. Samsung Electronics said the announcement followed "many months of deliberations and review" by the group.

Robert Thomson, the chief executive, said the group had gone through a year of "operational and transformational success" and pointed to revenue growth in its online real estate businesses such as realestate.com and its book publishing division led by Harper Collins. As a outcome, the company is focused on driving higher penetration of digital paid subscriptions, particularly in Australia and at News UK in fiscal 2019.

"News Corp is now a more substantial company after the Foxtel transaction, with a much higher percentage of recurring, subscription-based revenues, which should help offset a volatile advertising environment", he said. The new Foxtel is focused on product innovation and leveraging its valuable content.

Foxtel's revenues were flat with the positive impact from foreign currency fluctuations offset by falling subscription numbers and lower advertising revenues.

While reporting News Corp.'s Q2 results in a February 8 earnings call, Thomson pointed out: "Clearly, there are profound changes taking place in the creation and the distribution of digital content".

"We are marking five years since our separation and are confident News Corp has a lustrous future, built on a strong digital and global foundation".


  • Sick killer whale J-50 could be cared for in Canadian waters

    Sick killer whale J-50 could be cared for in Canadian waters

    This is an animal that is a sentient being, ' Deborah Giles, science and research director for the nonprofit Wild Orc said. University of Washington scientist Deborah Giles said she was heartbroken for what is happening with the mom and child.
    Google Makes Embarrassing Error Following Fortnite Android Release

    Google Makes Embarrassing Error Following Fortnite Android Release

    Epic Games is releasing the mega-popular Fortnite for Android in an unconventional way: it is bypassing the Google Play Store . Malware can also come bundled with the actual official Android version of the game downloaded from an unofficial third-party.
    Rand Paul says he delivered Trump letter to Putin

    Rand Paul says he delivered Trump letter to Putin

    He says the letter emphasized the importance of working together on counter-terrorism, legislative talks and cultural exchanges. In addition to tensions over election meddling, the two countries are also at odds over Syria and Ukraine.
  • How Premier League's top teams stand

    How Premier League's top teams stand

    Figures released by Deloitte show clubs paid out an estimated 1.23 billion pounds before the window closed - down 2 hundred million pounds on the same period past year .
    Ben Stokes 'victim' was left bloodied, witness tells trial

    Ben Stokes 'victim' was left bloodied, witness tells trial

    Mark Spure, an off-duty police community support officer for Avon and Somerset Police, described Stokes as the "main aggressor" . Stokes, in a written statement given to police after he had been arrested, said he had acted in self-defence when punching Mr.
    Heavy rains continue to pound Kerala; red alert issued in Idukki

    Heavy rains continue to pound Kerala; red alert issued in Idukki

    All of the dam's gates being opened will heighten concerns of extreme flooding along the banks of the rapidly swelling Periyar. Mani, who hails from Idukki, said: "Things are pretty bad and I have visited the affected areas on Thursday morning".
  • Ford rolls Mustang No. 10 million off the line

    Ford rolls Mustang No. 10 million off the line

    Ford didn't show off the cup racer's rear in any photos, so we remain curious as to how the Mustang's signature taillights look. Recently, the legend wrote another page in its big history book with the production of the 10-millionth Ford Mustang .
    Anderson takes five as India 107 all out at stumps

    Anderson takes five as India 107 all out at stumps

    The Indian batsmen have themselves to blame as much as the top-class bowling from the English fast-bowlers led by James Anderson. The first was the result of an absolutely stunning away swinger that bowled Murali Vijay off the fifth ball of the day.
    Arsenal Legend Ian Wright Blasts 'Absolutely Disastrous' Stan Kroenke Takeover

    Arsenal Legend Ian Wright Blasts 'Absolutely Disastrous' Stan Kroenke Takeover

    The £550-million ($708.5-million) buy-out will see Kroenke assume full control of the north London football club. So, who is Kroenke and how long has he been involved with Arsenal? . "The AST is wholly against this takeover".
  • Gary Neville reacts to Paul Pogba's 'weird' penalty

    Gary Neville reacts to Paul Pogba's 'weird' penalty

    Pogba's penalty two minutes was, what I guess you can say, weird? "We should start the Premier League with a win and we did today. Asked if he was happy and comfortable, Pogba replied: 'There are things I can not say, otherwise I will get fined'.
    Trump's decision to double tariffs on Turkey 'brutal'

    Trump's decision to double tariffs on Turkey 'brutal'

    A man checks foreign currency exchange rates outside a currency exchange shop in an Istanbul's market, Friday, Aug. 10, 2018. USA stocks fell Friday amid the geopolitical concerns that pushed the Turkish lira to the record low against the dollar.
    Holidaymakers evacuated as floods hit southern France

    Holidaymakers evacuated as floods hit southern France

    The French weather service has issued orange and yellow alerts for parts of southeast France that will remain in place until 4pm. Many roads in the area were left cut off, with the authorities urged members of the public to be prepared for more disruption.