FRIDAY, 14 DEC 2018

 

CONNECT

Facebook Linked In Twitter
PwC_Impact_30/11-16/12_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

Anastasiades Discusses with May the British Bases Issue Ahead of Brexit

Savvas Angelides Meets his Irish Counterpart in Dublin

IMH LTD
PwC_Impact_30/11-16/12_468x60px

INTERNATIONAL

brought to you by CIPA

Films Boost Murdoch's Fox Revenue

Films Boost Murdoch's Fox Revenue

US media company 21st Century Fox saw revenue rise more than 17% in the fourth quarter, boosted by its films such as Deadpool 2.

Revenue at the firm, which is led by Rupert Murdoch and his family, reached $7.9bn (£6.1bn) in the three months to the end of June, from $6.75bn in the same period last year.

Profits nearly doubled to about $920m, helped in part by a lower US tax rate.

The results came as Fox plans to break up its empire, the BBC reports.

It is selling its film and television divisions to Walt Disney, in a $71bn cash-and-stock deal that shareholders approved last month.

The firm's international properties, including its stake in satellite broadcaster Sky, are also included in the deal, which Fox said it expects to close in the first half of 2019, pending approval from regulators.

Fox plans to hold onto its news and sports units, which will be spun off into a separate company.

Rupert Murdoch and son Lachlan, who chair Fox, said: "As we move closer to combining our businesses with Disney and establishing new "Fox", we are convinced that the paths we are creating for our iconic businesses will drive enduring and growing value for our shareholders."

Executives did not discuss the firm's efforts to take over the 61% of Sky it does not own, which were upset after US cable giant Comcast topped Fox's bid.

Fox has until 22 September to revise its offer, but Disney would have to approve plans to submit a higher bid.

On a call with financial analysts this week, Disney declined to comment on its plans, calling it an "open matter".

Fox said it is "considering its options", repeating prior statements.

The shake-up of Fox's business comes amid competition from streaming services and digital advertising, which have hurt traditional pay-TV companies.

Like Disney, which is working on its own streaming services to compete with the likes of Netflix, Fox is planning its own streaming service for its flagship Fox News channel. The service is expected to launch around the end of the year.

MORE ON INTERNATIONAL

Cloud Computing Services Used by More Than One Out of Four Enterprises in The EU

In 2018, 26% of EU enterprises with at least 10 persons employed purchased cloud ...

GDP and Employment both up by 0.2% in the Euro Area

Seasonally adjusted GDP rose by 0.2% in the euro area (EA19) and by 0.3% in the EU28 ...

UK: Wages Rise at Fastest Pace for Decade

Wages are continuing to rise at their highest level for nearly a decade as Brexit ...

FROM AROUND GOLDNEWS

   

Cloud Computing Services Used by More Than One Out of Four Enterprises in The EU

In 2018, 26% of EU enterprises with at least 10 persons employed purchased cloud computing services. Cloud computing usage grew rapidly over the last few ...
   

Annual Growth in Labour Costs at 2.5% in Euro Area

Hourly labour costs rose by 2.5% in the euro area (EA19) and by 2.7% in the EU28 in the third quarter of 2018, compared with the same quarter of the previous ...
   

Public Sector Employment Reaches 66,698 People

The employment in the Broad Public Sector for the 3rd quarter of 2018 was 66,698 persons. The employment in General Government was 60,777 and in the Publicly ...
   

Job Vacancies Increase by 63%

The number of job vacancies for the 3rd quarter of 2018 was 7,667. The number of job vacancies increased by 2,964 (63.0%) compared to the same quarter of the ...
   

Apple to Create $1bn Texas Base

Apple has announced plans to build a new campus in Austin, Texas, saying the project will involve a $1bn (£790m) investment, the BBC reports. The ...
   

Savvas Angelides Meets his Irish Counterpart in Dublin

Cypriot Minister of Defence Savvas Angelides, met in Dublin with his Irish counterpart Paul Kehoe during an official visit to Ireland, the Cyprus News Agency ...
   

Savvas Angelides Meets his Irish Counterpart in Dublin

Cypriot Minister of Defence Savvas Angelides, met in Dublin with his Irish counterpart Paul Kehoe during an official visit to Ireland, the Cyprus News Agency ...
   

Anastasiades Discusses with May the British Bases Issue Ahead of Brexit

The President of the Republic of Cyprus Nicos Anastasiades held a brief discussion with British Prime Minister Teresa May on the protocol concerning the ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Beluga_Xmas_05/12-01/01_300x250px
Dale_Carnegie_Leadership_300x250px

IMH LTD