Skip navigation
Watchlist Sponsored By :


Current DateTime: 09:26:25 23 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Fashion Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 09:26:25 23 Nov 2009
LinksList Documentid: 33793611
  • How Much Do You Know About Green?

      Green has become part of our everyday lives. Green is everywhere-- energy, clothing, food, housing, transportation. It's a big business and a global business.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?

  • The Many Myths of Coca-Cola

      Can you tell which statements are true, and which ones are just rumors?


Current DateTime: 09:26:25 23 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
News Corp. Business Channel to Launch in fall, Murdoch Says
By: CNBC.com | 08 Feb 2007 | 02:21 PM ET
Text Size

Rupert Murdoch said that News Corp. [NWS  Loading...      ()   ] plans to launch a business channel in the fall that will compete with General Electric's [GE  Loading...      ()   ] CNBC.

Speaking at a media and technology conference in New York, Murdoch said there would be more details on the long-awaited channel soon. He said there was a “great opportunity” there.

The project has been in the works for several years, and the company has said it would get launched only if enough distribution were in place. Recently the company signed up Time Warner Cable, a division of Time Warner [TWX  Loading...      ()   ] that is the second-largest cable provider in the country.

Murdoch also said News Corp. was seeing rapid growth from its MySpace unit, the leading social networking site on the Internet, where advertising revenue was growing about 30% every quarter.

Murdoch also said he hoped to see revenue from online-only businesses at News Corp. such as MySpace to make up about 10% of the company’s revenue in the next five years or so.

He didn’t provide a comparable figure for current online revenue, but on Wednesday News Corp. reported that revenue from its Fox Interactive Media unit, comprised mainly of MySpace, had grown to $125 million in the three months ending in December, which would be around 1.5% of the company’s overall revenue.

Murdoch also said he saw big opportunities for expanding overseas, as well as in mobile devices such as cell phones. He said that a new deal to deliver MySpace to subscribers of Cingular Wireless, now part of AT&T [T  Loading...      ()   ], had already signed up about 200,000 customers in 7 weeks. News Corp. shares revenue from the service, which costs users $3 per month.

On the matter of succession -- a question that comes up regularly for the 75-year-old media mogul -- Murdoch quipped: "I just want to live forever," then demurred, saying it was up to the company’s board of directors.

Murdoch, who recently distributed $100 million in News Corp. stock to each of his six children, has said he hopes to keep control of the company within his family, but he declined to go into greater detail Thursday.

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • The show attracts a big TV audience every year, but this year it may take on even more importance.
  • …you'll want to be prepared. Tips for getting the most out of the post-Thanksgiving shopping frenzy.
  • Congressman Ron Paul explains to Squawk Box why he’s pushing legislation to audit the Federal Reserve.
  • CNBC’s Phil LeBeau took a test drive of GM’s flagship electric car. Here’s what he thought of the Volt.
  • A Macau casino will open Asia's first Michael Jackson shrine after its owners made a key purchase at a US auction.
  • CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.
ADD COMMENTS
Remaining characters


Current DateTime: 06:27:23 23 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 06:27:23 23 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 06:27:23 23 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 09:12:15 23 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters