SUNDAY, 21 OCT 2018



Facebook Linked In Twitter

Anastasiades’ Meeting with Akinci set for October 26

Lazarou: Cyprus on Track to Achieve Full Absorption of EU Funds



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.


China Grows at Slowest Pace since 2009

China has reported its slowest quarterly growth rate since the global financial crisis. ...

Annual inflation Up to 2.1% in the Euro Area

The Euro area annual inflation rate was 2.1% in September 2018, up from 2.0% in August. A ...

Netflix Hits New Subscriber Record

Netflix added seven million new customers in the three months to September, bringing its ...



China Grows at Slowest Pace since 2009

China has reported its slowest quarterly growth rate since the global financial crisis. The growth figure for the July to September quarter was 6.5% from a ...

Lazarou: Cyprus on Track to Achieve Full Absorption of EU Funds

Cyprus in on track to achieve full absorption of the EU funds earmarked for Cyprus in the programme period of 2014-2020, Lazaros Lazarou member of the EU Court ...

CBC: Residential Prices Index Rises for Eight Quarters but Prices Remain Moderate

The increase of residential property prices remains moderate the Central Bank of Cyprus (CBC) has said as the residential property price index in the second ...

Cryptos: The Future or the Next Bubble?

Cryptocurrencies have undoubtedly been the centre of attention in the markets since they were introduced. Considering the fact that everything is gradually ...

MAP S.Platis Awarded Contract for the Provision of Services to EASO

MAP S.Platis Group is delighted to announce the award of a Contract for the Provision of Interim Services to the European Asylum Seekers Office (EASO) in ...

Cobalt Air License Revoked, Company Recorded Annually €30m Losses in the Past Three Years

Cyprus’ Air Transport Licensing Authority (ATLA) decided to revoke Cobalt Air’s operating license, Alecos Michaelides, the Permanent Secretary of ...

Cyprus Airways Offers Free Tickets to Cobalt’s Passengers

Cyprus Airways expresses its sorrow for Cobalt’s suspension of operation and its support to everyone affected. Cyprus Airways, aiming to minimize ...

TUS Airways Supports Cobalt's Passengers Offering a 20% Discount

The Cyprus-based airline, TUS Airways: “Τhe Ultimate Schedule” will offer Cobalt's passengers, who already bought tickets, a 20% discount in ...