The media mogul also pointed to $50 million in cost savings at the acquired company and the sell-off of Dow Jones regional newspapers.Murdoch said that News Corp. is not in talks to buy out the exclusive contract that NBC Universal-owned CNBC has with Dow Jones and its flagship Journal. The deal runs through 2012, and CNBC executives have indicated that they expect the arrangement to be honored no matter who owns the Journal.Murdoch, though, has expectations of his own, which no doubt includes that his newly acquired Journal and its more than 700 financial reporters and editors team up with the Fox Business Network that is set to launch in October in direct competition with CNBC. “The CNBC contract is an obstacle, but we still think there are opportunities for the business network and the Journal” to cooperate outside of business news, Murdoch said during an earnings conference call that was dominated by questions about his broader Dow Jones vision. Overall, Murdoch said the $5 billion Dow Jones acquisition has the potential to be “transformative” for his conglomerate and should make News Corp. a global provider of news in addition to entertainment. The deal, sealed last week, “will provide an… Read full this story
- Anderson Cooper Shreds 'Incoherent' Trump: 'Like A Crazy Person On A Park Bench'
- Government to decide on 21st Century Fox bid for Sky by June 13
- Cricket Australia's James Sutherland gets Lachlan Murdoch revenge on CBS, Ten
- Money or power? Rupert Murdoch's 21st Century Fox has a decision to make
- James & Lachlan Murdoch Address “Real Uncertainty” Of Trump Travel Ban For 21st Century Fox
- Rupert Murdoch-owned Fox Network raided in European Commission probe
- Murdoch Tries to Shift the Battle From Politics to Money
- Play About Rupert Murdoch’s Brash Beginnings May Stop the Presses
- Sky Posts Strong Sales Before Likely Fox-Comcast Bidding War
- British government to decide on 21st Century Fox bid for Sky by June 13
- Ainsley Earhardt, 'Fox & Friends' go live from USC Columbia
- What Comes Next as Comcast, Fox and Disney Battle for Sky
Fox net, Journal can cooperate, Murdoch says have 331 words, post on www.hollywoodreporter.com at August 9, 2007. This is cached page on Konitono News. If you want remove this page, please contact us.