Murdoch's satellite TV venture is up in the air

Article Abstract:

News Corp. has failed to complete negotiations to combine forces with satellite broadcaster Primestar. Rupert Murdoch, News Corp.'s CEO, has failed to generate the $1.1 billion required to purchase Primestar from its owners, which includes cable giants Comcast, Time Warner, MediaOne and Cox. Primestar's initial plan of acquiring News Corp.'s satellite assets, including the much coveted license to use one of the three orbital slots that can bean TV signals to 18-inch receiving dishes coast-to-coast, has been rejected by the US Justice Department. The failure of the negotiations put both companies in a disadvantage position, as industry faces crucial point against time and cable companies.

Comment:

Fails to complete negotiations to combine forces w/ communications giant News Corp

Australia, Acquisitions & mergers, Satellite Telecommunications, Satellite TV Communications, Satellite television, The News Corporation Ltd., PRIMESTAR Partners L.P.

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Disney's kingdom counts on bounty from sports

Article Abstract:

Walt Disney's cable sports channel, ESPN, is one of the company's fastest growing operations, contributing close to 15% of total operating profit for 1998. For 1998, ESPN, which reaches 75 million satellite and cable subscribers, should post close to $2 billion in revenue and an operating profit of over $600 million, which can increase to $785 million in 1999. Walt Disney is anticipated to post a net profit of $1.9 billion on revenue of $22.7 billion for the fiscal year that ended Sept. 30, 1998.

Comment:

Co's sports channel, ESPN, is one of co's fastest growing operations, contributing close to 15% of 1998 total operating profits

Strategy & planning, Cable Networks, Cable TV Sports Networks, Walt Disney Co., Cable networks (Television), Sports networks (Television)

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