twenty-first century fox-a (FOXA) Key Developments
Fox Business Announces Two Executive Promotions
Aug 14 14
Roger Ailes, Chairman & CEO of FOX News Channel and FOX Business Network (FBN) has announced two executive promotions within FOX Business. Bill Shine, 51, has been promoted to Senior Executive Vice President of Programming for FNC and has added responsibilities for FBN programming. Ailes also announced that current FOX Business Senior Vice President of Operations, Brian Jones, 54, has been promoted to Executive Vice President, News Operations. In this added role, Shine will continue reporting directly to Ailes and will manage all programming and network synergies for FNC and FBN. Jones will assume additional day to day responsibilities for all FBN news operations, reporting directly to Shine. An 18 year veteran of FNC, Shine joined the company as the senior producer of Hannity & Colmes when the network launched in 1996. He was named Network Executive Producer in December 2000 and was promoted to Vice President, Production in 2003. He continued his rise to Senior Vice President of Programming in 2005 and was later promoted to Executive Vice President in the same capacity in 2009. Prior to FNC, Shine was a producer/director at News Talk Television and began his career in production at WLIG-TV in Long Island, New York.
Amazon.com And Others Reportedly Interested In Acquisition Of StyleHaul
Aug 12 14
Over the past several weeks, StyleHaul Inc., a multichannel network by YouTube, LLC, has been approached about a potential acquisition by suitors including Amazon.com Inc. (NasdaqGS:AMZN), Twenty-First Century Fox, Inc. (NasdaqGS:FOXA), The Hearst Corporation and The Condé Nast Publications Ltd., reported Variety citing multiple sources, who indicate the sale process is being handled by Guggenheim Partners. StyleHaul declined to comment. StyleHaul is backed by RTL Group SA (BDL:006146252). Sources said that both Hearst and Twenty-First Century Fox had preliminary talks with StyleHaul about a deal but that those did not progress. The status of StyleHaul’s negotiations with Amazon and Condé Nast are unclear, as is StyleHaul’s asking price range. A media executive with the knowledge of the matter said, "These guys (StyleHaul) are still early in their (sale) process." A spokeswoman for StyleHaul said, "We do not comment on rumors and speculation." Representatives for Fox, Hearst, Condé Nast and Guggenheim declined to comment to Variety; Amazon did not respond to requests by Variety for comment.
Twenty-First Century Fox, Inc. Declares Dividend on Class A and B Shares Payable on October 15, 2014; Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months Ended June 30, 2014; Provides Effective Tax Rate Guidance for the Full Year of Fiscal 2015
Aug 6 14
Twenty-First Century Fox, Inc. declared a dividend of $0.125 per Class A and Class B share. This dividend is payable on October 15, 2014 with a record date for determining dividend entitlements of September 10, 2014.
The company announced unaudited consolidated earnings results for the fourth quarter and twelve months ended June 30, 2014. For the quarter, the company reported revenue of $8,424 million against $7,212 million a year ago. Income from continuing operations before income tax expense was $1,397 million against $1,293 million a year ago. Income from continuing operations was $1,054 million against $1,040 million a year ago. Net income attributable to company's stockholders was $999 million against net loss attributable to company's stockholders of $371 million a year ago. Income from continuing operations attributable to company's stockholders per share was $0.43 against $0.42 a year ago. Net income attributable to company's stockholders per share was $0.45 against net loss attributable to company's stockholders per share of $0.16 a year ago.
For the twelve months, the company reported revenue of $31,867 million against $27,675 million a year ago. Income from continuing operations before income tax expense was $5,189 million against $8,736 million a year ago. Income from continuing operations was $3,917 million against $7,046 million a year ago. Net income attributable to company's stockholders was $4,514 million against $7,097 million a year ago. Income from continuing operations attributable to company's stockholders per share was $1.67 against $2.91 a year ago. Net income attributable to company's stockholders per share was $1.67 against $2.91 a year ago. Net cash provided by operating activities from continuing operations was $2,964 million against $3,002 million a year ago. Property, plant and equipment was $678 million against $622 million a year ago.
The company expects its annual effective tax rate will be around the low-30% range.
Twenty-First Century Fox, Inc. to Report Q4, 2014 Results on Aug 06, 2014
Aug 1 14
Twenty-First Century Fox, Inc. announced that they will report Q4, 2014 results on Aug 06, 2014
Fox Is Reportedly Seen Selling CNN Rather Than Spinning Off
Jul 25 14
If Twenty-First Century Fox, Inc. (NasdaqGS:FOXA) succeeds in buying Time Warner Inc. (NYSE:TWX), it's likely to sell Cable News Network, Inc. (CNN) and pay billions of dollars in taxes rather than go through the headaches of spinning the cable news channel off to shareholders of the merged company, according to people familiar with the matter. Fox plans to get rid of CNN because it already operates its own namesake news network and would likely face opposition from regulators even if it wanted to keep it. Potential buyers include CBS Corporation (NYSE:CBS) (CBS) and ABC, Inc. The entire sale price would be taxable because CNN is carried on Time Warner's books at near-zero, people familiar with the company said. Fox isn't considering spinning off CNN, according to people familiar with the matter. Fox would likely face tax consequences in a spin-off as well, a person familiar with the situation said. CNN would have difficulties as a standalone company because, unwound from a cable bundle, it would likely see its subscriber fees plummet, according to people familiar with the matter. Representatives from Time Warner and Fox declined to comment, Reuters reported.