New York, NEW YORK, United States
New York, NEW YORK, United States

News Corporation or News Corp. was an American multinational mass media corporation headquartered in New York City. It was the world's second-largest media group in 2011 in terms of revenue, and the world's third largest in entertainment in 2009.News Corporation was a publicly traded company listed on the NASDAQ. Formerly incorporated in Adelaide, South Australia, the company was re-incorporated under Delaware General Corporation Law after a majority of shareholders approved the move on 12 November 2004. News Corporation was headquartered at 1211 Avenue of the Americas, New York, in the newer 1960s–1970s corridor of the Rockefeller Center complex.On 28 June 2012, Rupert Murdoch announced that, after concerns from shareholders in response to its recent scandals and to "unlock even greater long-term shareholder value", News Corporation's assets would be split into two publicly traded companies, one oriented towards media, and the other towards publishing. The split formally took place on 28 June 2013; where the present News Corp. was renamed 21st Century Fox and consists primarily of media outlets, while a new News Corp was formed to take on the publishing and Australian broadcasting assets .Its major holdings at the time of the split were News Limited , News International , Dow Jones & Company , the book publisher HarperCollins, and the Fox Entertainment Group . Wikipedia.

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News Article | May 23, 2017
Site: www.prweb.com

Today CIENCE, an emerging leader in managed services for lead generation, announced the appointment of Eric Quanstrom as Chief Marketing Officer (CMO). The move comes shortly after the CIENCE acquisition of Leadware, adding significant experience to the CIENCE management team to build on its growth objectives. Quanstrom brings a rare combination of marketing, digital media, operations, technology and strategic experience to his role, where he will guide global marketing activities, including oversight of inbound and outbound marketing, demand generation, partner marketing, web presence, social media, corporate communications and customer success programs. Each of which will build on CIENCE’s commitment to becoming the leading provider of managed services for sales company in the world. “This key addition signals increased maturity of the CIENCE organization,” said Thomas Cornelius, CEO of CIENCE. “We’re accelerating into a rapidly growing market, as the need for outsourced outbound sales has never been greater. Eric will help us solidify our internal customer-facing operations and enhance CIENCE as the most trusted brand for human-driven, machine-powered lead generation.” CIENCE is well-positioned to become a leader in the managed services space, thanks to a progressive approach to building data science into its people-as-a-service outsourcing. The company is currently delivering remarkable 150% yearly growth and moving to further expand the talents of its management team. Quanstrom brings to CIENCE an ingenuity for understanding market trends -- then strategically positioning a company to leverage those trends -- while also exploiting vibrant market segments. Previous to CIENCE, Quanstrom was Chief Marketing Officer at KiteDesk, Pipeliner CRM and Nimble, where he lead over 4X annual revenue growth across each of those sales tech companies during his tenure. Previously, Quanstrom was Chief Operating Officer (COO) of Sorenson Media, an award-winning provider of high-quality video solutions and the original video codec company behind Flash and Quicktime. Quanstrom has also been marketing leader for numerous successful startup exits, including SightSpeed, which was acquired by Logitech, and DocuComp, which was acquired by DocsCorp. He also served as the West Coast head of the Fox Online Properties (FoxSports.com, FoxNews.com and Fox.com) while at News Corp. “The company’s strength-- obsessive focus on customers-- attracted me to CIENCE,” said Quanstrom. “My goal is to build the preeminent modern revenue organization, through customer-centric programs. We’re solving for such an important need in every partner company we work with-- to fill sales pipelines with qualified opportunities, thus introducing targeted, scalable growth.” About CIENCE CIENCE is a data science company, offering a unique blend of managed services and software to fast-growth sales organizations. We believe in the power of Machine Powered, Human Driven solutions to accelerate our customer's sales success. CIENCE is a global business, with offices in San Diego, CA (USA), Kiev, Ukraine (Europe), Manila, Philippines (Asia), and Campinas, Brazil (South America). Connect with us online at http://www.cience.com, on Twitter @CIENCEcom or on Linkedin.


News Article | May 24, 2017
Site: www.businesswire.com

BOSTON--(BUSINESS WIRE)--Fidelity estimates that couples retiring today will need an estimated $260,000 for health care costs during retirement, so it’s no wonder employers and their employees are looking for ways to help tackle these daunting expenses1. It is critical to factor health care costs as you plan for retirement income – through steady tax-advantaged savings including a portion that’s invested in the stock market. Health savings accounts (HSA) enable people to put aside money both for today’s health care expenses while investing for medical costs they may incur in retirement (how HSAs work). HSAs are paired with high-deductible health plans (HDHP), which often have lower monthly insurance premiums than traditional health plan offerings, plus include three key tax benefits: contributions go in tax-free, balances grow tax-free, and savings can be withdrawn tax-free for medical costs2. These unique savings opportunities help explain why assets in Fidelity HSA®s rose 50 percent during the past year to surpass $2 billion. Fidelity now has 657,000 individual account holders, a growth of 46 percent in just one year3. “It occurred to us that the value of an HSA was getting lost in the details related to a high-deductible health plan. Moving participant accounts to Fidelity would be a great way to clarify that distinction,” said Marco Diaz, senior vice president, Global Head of Benefits at News Corporation, a global media company. News Corp began offering its workforce a high-deductible health plan paired with a Fidelity HSA® during open enrollment 2016. “We want our employees to benefit from a range of programs that blend immediate term benefits with the ability to build equity for the long term. That channel is clear enough with 401(k) but an HSA offers an entirely complementary way of building something meaningful toward future expenses in retirement.” People saving in HSAs do not do so at the expense of a defined contribution (DC) retirement plan, such as a 401(k). Fidelity found that during 2016, people who had both DC and HSA accounts saved on average 10.7 percent of their annual income in the retirement account. Those with just a DC account saved on average 8.2 percent in it. Account Holder Satisfaction is High, but Misconceptions Still Exist Of those in an HSA-eligible health plan, 8 in 10 are satisfied with it4. Seventy-six percent are satisfied with the ease of using their HSA for medical expenses, 77 percent with the quality of their health care coverage, and 77 percent with how the plan helps them manage their health care costs. Continued education by employers and HSA providers helps drive satisfaction and illustrate the benefits of HDHPs and HSAs, but misconceptions remain. Unlike contributions to health flexible spending accounts (FSA), unspent contributions to HSAs roll-over from year-to-year5. Yet when asked, 39 percent of people believed they lost unspent HSA contributions at year end. “Almost half of those people we surveyed dramatically underestimated their out-of-pocket health care costs for retirement, so it’s exciting to see so many now embracing HSAs as an opportunity to help them close this gap6,” said Eric Dowley, senior vice president of HSA Product Management at Fidelity. “Assets held in Fidelity HSAs are increasingly invested outside of cash, which is a positive trend we’ve seen over the past five years7.” HSAs Offer Investing Opportunities for Longer-Term Health Care Costs Account holders may want to consider investing a portion of their HSA balance outside of cash, such as in a mutual fund with a view toward long-term investment. Some account holders wait until they accumulate a large enough balance to cover their annual estimated out-of-pocket medical costs (single or family) before they invest. Others invest immediately, opting to pay their medical costs out-of-pocket and use their HSA as a long-term investment account for retirement. To help more HSA account holders take advantage of long-term, tax-advantaged, compounding saving, Fidelity significantly lowered its investment minimum for Fidelity® Asset Manager Funds from $2,500 to $500 when invested within an HSA. “Employers should consider an HSA provider’s ability to help their account holders learn how to invest and their range of investment options,” said Dowley. Nationally, 15 percent of all HSA assets are invested outside of cash8. But of assets held in Fidelity HSAs, more than 21 percent are invested, helping more people build long-term savings for health care costs in retirement. About Fidelity Investments Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $6.1 trillion, including managed assets of $2.2 trillion as of April 30, 2017, we focus on meeting the unique needs of a diverse set of customers: helping more than 26 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for 70 years, Fidelity employs 45,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about. Before investing, consider the funds’ investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Fidelity reserves the right to modify or cancel any concept designs being mentioned. This information should not be construed as an offer to sell or a solicitation to buy any product or service. 1 Estimate based on a hypothetical couple retiring in 2016, 65-years-old, with average life expectancies of 85 for a male and 87 for a female. Estimates are calculated for “average” retirees, but may be more or less depending on actual health status, area of residence, and longevity. Estimate is net of taxes. The Fidelity Retiree Health Care Costs Estimate assumes individuals do not have employer-provided retiree health care coverage, but do qualify for the federal government’s insurance program, Original Medicare. The calculation takes into account cost-sharing provisions (such as deductibles and coinsurance) associated with Medicare Part A and Part B (inpatient and outpatient medical insurance). It also considers Medicare Part D (prescription drug coverage) premiums and out-of-pocket costs, as well as certain services excluded by Original Medicare. The estimate does not include other health-related expenses, such as over-the-counter medications, most dental services and long-term care. Life expectancies based on research and analysis by Fidelity Investments Benefits Consulting group and data from the Society of Actuaries, 2014. 2 With respect to federal taxation only. Contributions, investment earnings, and distributions may or may not be subject to state taxation. The triple tax advantages are only applicable if the money is used to pay for Qualified Medical Expenses as described in IRS Publication 969. 3 2016 account holder growth rose to 657,000 from 451,000. 4 Represents the findings of an online survey conducted among a demographically representative U.S. sample consisting of 5,133 adults, 18 years of age and older. Interviewing for this CARAVAN® Survey was completed Dec. 9-21, 2016, by ORC International, which is not affiliated with Fidelity Investments. 1,309 respondents enrolled in an HSA-eligible health care plan were included in the analysis. The results of this survey may not be representative of all adults meeting the same criteria as those surveyed for this study. 5 Some health flexible spending accounts (FSA) allow up to $500 per year to carryover. It is a plan design element dependent on the employer. 6 Ibid 4. 7 Assets invested outside of cash five years ago were 17 percent (2012). 8 Devenir Research, “2016 Year-End Devenir HSA Research Report” (link).


News Article | June 27, 2017
Site: www.businesswire.com

NEW YORK--(BUSINESS WIRE)--The following statement was released today by News Corp regarding the European Commission decision to fine Google for breaching EU antitrust rules: “We applaud the European Commission's leadership in confronting the discriminatory behavior of Google in the comparison shopping industry. Other regulators and companies have been intimidated by Google's overwhelming might, but the Commission has taken a strong stand and we hope that this is the first step in remedying Google's shameless abuse of its dominance in search. We strongly believe that the abuse of algorithms by dominant digital platforms should be of concern to every country and company seeking a fair, competitive and creative society. Google has profited from commodifying content and enabling the proliferation of flawed and fake news, to the detriment of journalism and of an informed society.” News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com.


News Article | May 9, 2017
Site: globenewswire.com

SAN FRANCISCO, May 09, 2017 (GLOBE NEWSWIRE) -- Okta, Inc. (NASDAQ:OKTA) the leading independent provider of identity for the enterprise, today announced that it will release its financial results for its first quarter of fiscal year 2018 ended April 30, 2017 after the U.S. market close on Wednesday, June 7, 2017. Okta will host a conference call that day at 2:00 p.m, Pacific time (5:00 p.m. Eastern time) to discuss the results. The dial-in number will be 888-490-2763 or 719-325-2394, conference ID 8793739. A live webcast of the conference call will be accessible from the Okta website at https://investor.okta.com/investor-relations . A telephonic replay of the conference call will be available through June 21, 2017 and may be accessed by dialing 888-203-1112 or 719-457-0820 and using the passcode 8793739. The press release will be accessible from the Okta investor relations website prior to the commencement of the conference call. Okta is the leading independent provider of identity for the enterprise. The Okta Identity Cloud connects and protects employees of many of the world's largest enterprises. It also securely connects enterprises to their partners, suppliers and customers. With deep integrations to over 5,000 apps, the Okta Identity Cloud enables simple and secure access from any device. Thousands of customers, including Experian, 20th Century Fox, LinkedIn, Flex, News Corp, Dish Networks and Adobe, trust Okta to help them work faster, boost revenue and stay secure. Okta helps customers fulfill their missions faster by making it safe and easy to use the technologies they need to do their most significant work. Learn more at www.okta.com.


SAN FRANCISCO--(BUSINESS WIRE)--Okta, the leading independent provider of identity for the enterprise, today announced it has received Moderate certification in the Federal Risk and Authorization Management Program (FedRAMP). The U.S. government-wide program provides a standard approach for assessing, authorizing and continuous monitoring of cloud products and services. The certification will allow government agencies to realize the benefits of the Okta Identity Cloud and simplify the adoption of Okta’s identity, mobility and security solutions at scale on the Amazon Web Services (AWS) Cloud. As an Okta customer, the Department of Justice (DOJ) issued an Authorization to Operate (ATO) leveraging Okta’s FedRAMP certification. To support the ATO, Okta demonstrated compliance with 300 controls including vulnerability management, incident response capability and business continuity. With integrations to over 5,000 applications, the Okta Identity Cloud delivers an agile architecture and secure solution for many of the world’s largest enterprises. For government agencies, in addition to enhancing security, Okta’s modern identity and access management solutions enable digital transformation by providing a simplified user experience and enabling better performance across employees, partners, suppliers and customers. With the help of companies like AWS, the Okta Identity Cloud allows organizations to streamline access to the cloud, giving DevOps the ability to build secure user experiences. “FedRAMP is considered the gold standard, with the most stringent set of security controls for cloud companies,” said Mark Settle, Chief Information Officer at Okta. “Okta’s achievement of FedRAMP certification will make it easy for government agencies to attain the benefits of the cloud — improved user experience, productivity, security and cost savings — for the public at scale and with great impact.” Additionally, as a launch partner in the AWS Partner Network (APN) Government Competency Program, Okta works strategically with AWS to deliver mission-critical workloads and applications to public sector customers. Okta is built on AWS and leverages many of its core services, including the Amazon EC2 Container Service (ECS) and the AWS Key Management Service (KMS). “The cloud continues to be a major catalyst for governments to innovate, become more efficient, and to help secure citizen services. FedRAMP certification enables consistency and confidence in the security of cloud solutions. We are so pleased that APN partner Okta has met the high bar to achieve FedRAMP certification,” said Troy Bertram, General Manager of Business Development, Worldwide Public Sector, Amazon Web Services. Okta is committed to the achieving the highest level of security standards, and supporting the security requirements of the most regulated and security-conscious industries. Okta’s security certifications include: Okta is the leading independent provider of identity for the enterprise. The Okta Identity Cloud connects and protects employees of many of the world's largest enterprises. It also securely connects enterprises to their partners, suppliers and customers. With deep integrations to over 5,000 apps, the Okta Identity Cloud enables simple and secure access from any device. Thousands of customers, including Experian, 20th Century Fox, LinkedIn, Flex, News Corp, Dish Networks, and Adobe trust Okta to work faster, boost revenue and stay secure. Okta helps customers fulfill their missions faster by making it safe and easy to use the technologies they need to do their most significant work.


News Article | May 9, 2017
Site: globenewswire.com

SAN FRANCISCO, May 09, 2017 (GLOBE NEWSWIRE) -- Okta, Inc. (NASDAQ:OKTA) the leading independent provider of identity for the enterprise, today announced that it will release its financial results for its first quarter of fiscal year 2018 ended April 30, 2017 after the U.S. market close on Wednesday, June 7, 2017. Okta will host a conference call that day at 2:00 p.m, Pacific time (5:00 p.m. Eastern time) to discuss the results. The dial-in number will be 888-490-2763 or 719-325-2394, conference ID 8793739. A live webcast of the conference call will be accessible from the Okta website at https://investor.okta.com/investor-relations . A telephonic replay of the conference call will be available through June 21, 2017 and may be accessed by dialing 888-203-1112 or 719-457-0820 and using the passcode 8793739. The press release will be accessible from the Okta investor relations website prior to the commencement of the conference call. Okta is the leading independent provider of identity for the enterprise. The Okta Identity Cloud connects and protects employees of many of the world's largest enterprises. It also securely connects enterprises to their partners, suppliers and customers. With deep integrations to over 5,000 apps, the Okta Identity Cloud enables simple and secure access from any device. Thousands of customers, including Experian, 20th Century Fox, LinkedIn, Flex, News Corp, Dish Networks and Adobe, trust Okta to help them work faster, boost revenue and stay secure. Okta helps customers fulfill their missions faster by making it safe and easy to use the technologies they need to do their most significant work. Learn more at www.okta.com.


News Article | May 9, 2017
Site: globenewswire.com

SAN FRANCISCO, May 09, 2017 (GLOBE NEWSWIRE) -- Okta, Inc. (NASDAQ:OKTA) the leading independent provider of identity for the enterprise, today announced that it will release its financial results for its first quarter of fiscal year 2018 ended April 30, 2017 after the U.S. market close on Wednesday, June 7, 2017. Okta will host a conference call that day at 2:00 p.m, Pacific time (5:00 p.m. Eastern time) to discuss the results. The dial-in number will be 888-490-2763 or 719-325-2394, conference ID 8793739. A live webcast of the conference call will be accessible from the Okta website at https://investor.okta.com/investor-relations . A telephonic replay of the conference call will be available through June 21, 2017 and may be accessed by dialing 888-203-1112 or 719-457-0820 and using the passcode 8793739. The press release will be accessible from the Okta investor relations website prior to the commencement of the conference call. Okta is the leading independent provider of identity for the enterprise. The Okta Identity Cloud connects and protects employees of many of the world's largest enterprises. It also securely connects enterprises to their partners, suppliers and customers. With deep integrations to over 5,000 apps, the Okta Identity Cloud enables simple and secure access from any device. Thousands of customers, including Experian, 20th Century Fox, LinkedIn, Flex, News Corp, Dish Networks and Adobe, trust Okta to help them work faster, boost revenue and stay secure. Okta helps customers fulfill their missions faster by making it safe and easy to use the technologies they need to do their most significant work. Learn more at www.okta.com.


On Tuesday, shares in Mexico City, Mexico-based Grupo Televisa S.A.B. rose 0.41%, ending the day at $24.72. The stock recorded a trading volume of 4.66 million shares, which was above its three months average volume of 1.80 million shares. The Company's shares have advanced 9.82% over the previous three months and 18.33% since the start of this year. The stock is trading above its 200-day moving average by 1.51%. Moreover, shares of Grupo Televisa, which operates as a media company in the Spanish-speaking world, have a Relative Strength Index (RSI) of 44.41. On April 28th, 2017, Grupo Televisa announced that, as required, the Company's Form 20-F has been filed with the US SEC. The document is available on the Company's corporate website. Shareholders may request for a printed copy of the Form 20-F filed, free of charge, by contacting Televisa's investor relations department. TV complete research report is just a click away and free at: Shares in New York headquartered News Corp. ended the day 2.50% higher at $13.11. A total volume of 3.32 million shares was traded, which was above their three months average volume of 2.08 million shares. In the last month and the previous three months, the stock has gained 4.80% and 8.33%, respectively. Additionally, the Company's shares have advanced 15.33% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 3.49% and 3.66%, respectively. Furthermore, shares of News Corp., which focuses on creating and distributing content to consumers and businesses worldwide, have an RSI of 64.29. On May 08th, 2017, News Corp. announced that Marc Frons has been appointed Chief Technology Officer. Mr. Frons has served in that role in an interim capacity since October 2016. Additionally, Latha Maripuri, who currently serves as the Company's Chief Information Security Officer, and Christina Scott, CTO for News UK, have both been promoted to the Deputy CTO positions, while retaining their existing responsibilities. The complimentary report on NWSA can be downloaded at: At the close of trading on Tuesday, shares in McLean, Virginia headquartered TEGNA Inc. finished 6.75% lower at $24.05. A total volume of 5.83 million shares was traded, which was above their three months average volume of 2.06 million shares. The stock has advanced 4.36% over the previous three months and 13.05% on an YTD basis. The Company's shares are trading above their 200-day moving average by 6.81%. Additionally, shares of TEGNA, which engages in media and digital businesses in the US, have an RSI of 33.41. On May 04th, 2017, TEGNA and Cars.com announced they will hold separate investor meetings focused on the upcoming spin-off of Cars.com. As previously announced, the spin will create two independent, publicly traded companies: TEGNA, an innovative media company with the largest broadcast group among major network affiliates in the top 25 markets; and Cars.com, a leading digital automotive marketplace. The spin is expected to be completed on May 31st, 2017. Sign up for your complimentary research report on TGNA at: Sinclair Broadcast Group Inc.'s shares recorded a trading volume of 3.90 million shares at the end of yesterday's session, which was higher than their three months average volume of 1.80 million shares. The stock closed the day 2.16% lower at $35.35. The Company's shares have advanced 5.06% in the previous three months and 6.47% on an YTD basis. The stock is trading above its 200-day moving average by 8.27%. Additionally, shares of Sinclair Broadcast Group, which operates as a television broadcasting company in the US, have an RSI of 23.49. On May 04th, 2017, research firm The Benchmark Company reiterated its 'Buy' rating on the Company's stock with an increase of the target price from $45 a share to $52 a share. On May 08th, 2017, Sinclair Broadcast and Tribune Media Company announced that they have entered into a definitive agreement under which the former will acquire 100% of the issued and outstanding shares of Tribune for $43.50 per share, for an aggregate purchase price of approximately $3.9 billion, plus the assumption of approximately $2.7 billion in net debt. Get free access to your research report on SBGI at: Stock Callers (SC) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. SC has two distinct and independent departments. 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News Article | May 9, 2017
Site: www.businesswire.com

NEW YORK--(BUSINESS WIRE)--News Corporation (“News Corp” or the “Company”) (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended March 31, 2017. Commenting on the results, Chief Executive Robert Thomson said: "In the third quarter, we saw particular progress in our quest to be more digital and global, while there was tangible improvement in operating efficiencies. We posted solid revenue growth and substantial earnings growth, highlighted by momentum in Digital Real Estate Services, where realtor.com® continued to expand traffic, revenue and profitability. At News and Information Services, while print advertising remains volatile, we saw some moderation this quarter. Overall, the segment was a source of growth this quarter – in both revenues and profitability – driven by, in particular, the robust performance of in-store product at News America Marketing, digital subscriber gains of more than 300,000 at the Wall Street Journal and the benefits of ongoing cost control. The quarter was also characterized by an intensifying social and commercial debate over the dysfunctionality of the digital duopoly, and the lack of transparency in audience and advertising metrics. With brands in search of authenticated audiences and trusted advertising environments, we firmly believe that our mastheads offer veracity and value, and we are rapidly developing a new digital ad platform to offer clearly defined demographics from across our range of prestigious properties.” The Company reported fiscal 2017 third quarter total revenues of $1.98 billion, compared to $1.89 billion in the prior year period. Reported revenues reflect growth at the News and Information Services segment, driven by News America Marketing and the acquisitions of Australian Regional Media (“ARM”) and Wireless Group plc (“Wireless Group”), partially offset by lower print advertising revenues, as well as continued strong performance at the Digital Real Estate Services and Book Publishing segments. Adjusted Revenues (which exclude the impact of foreign currency, acquisitions and divestitures as defined in Note 1) increased 3% compared to the prior year. Income (loss) from continuing operations for the quarter was break-even as compared to ($128) million in the prior year. Reported results were driven by higher Total Segment EBITDA, as discussed below, which reflects the absence of a one-time pre-tax charge of $280 million for the settlement of litigation and related claims at News America Marketing in the prior year (the “NAM Group settlement charge”). The growth was partially offset by higher tax expense and the absence of a $107 million tax benefit in the prior year related to the NAM Group settlement charge, lower contribution from Other, net and lower equity earnings of affiliates, primarily driven by costs related to Foxtel’s shutdown of Presto and the loss resulting from the change in the fair value of Foxtel’s investment in Ten Network Holdings. The Company reported third quarter Total Segment EBITDA of $215 million, compared to ($122) million in the prior year, which included the NAM Group settlement charge mentioned above. Adjusted Total Segment EBITDA (as defined in Note 1) was 30% higher compared to the prior year, primarily due to the continued growth in the Digital Real Estate Services segment and at News America Marketing, as well as an adjustment to the deferred consideration accrual related to the acquisition of Unruly, partially offset by a one-time corporate charge of $11 million associated with a change in the Company’s executive management. Loss per share from continuing operations available to News Corporation stockholders was ($0.01) as compared to ($0.26) in the prior year. Adjusted EPS (as defined in Note 3) were $0.07 compared to $0.04 in the prior year. Revenues in the quarter increased $32 million, or 3%, compared to the prior year. Adjusted Revenues increased 1% compared to the prior year. Advertising revenues increased 4% due to higher in-store product revenues at News America Marketing, primarily driven by an increase in client spending and, to a lesser extent, timing-related benefits. Advertising revenues also benefited by $21 million from the acquisition of Wireless Group and $20 million from the acquisition of ARM. These factors were partially offset by weakness in the print advertising market. Circulation and subscription revenues decreased 1%, but increased 3% excluding an $18 million impact from negative foreign currency fluctuations, due to higher subscription pricing and selected cover price increases, partially offset by lower print volume. Segment EBITDA for the quarter was $123 million compared to ($187) million in the prior year. Fiscal 2016 third quarter Segment EBITDA would have been $93 million, excluding the NAM Group settlement charge of $280 million. Excluding that settlement charge, Fiscal 2017 third quarter Segment EBITDA would have increased $30 million, or 32%, as compared to the prior year. The increase was driven by higher revenues at News America Marketing, lower expenses across the businesses due to lower print volume and ongoing cost efficiencies, as well as a $12 million adjustment to the deferred consideration accrual related to the acquisition of Unruly. Digital revenues represented 24% of segment revenues in the quarter, compared to 23% in the prior year; for the quarter, digital revenues for Dow Jones and the newspaper mastheads represented 29% of their revenues. Digital subscribers and users across key properties within the News and Information Services segment are summarized below: Revenues in the quarter increased $16 million, or 4%, compared to the prior year, primarily due to strong sales from Hidden Figures by Margot Lee Shetterly, the continued popularity of Hillbilly Elegy by J.D. Vance and the release of Carve the Mark by Veronica Roth, as well as the continued expansion of HarperCollins’ global footprint. Digital sales increased 7% compared to the prior year and represented 22% of Consumer revenues for the quarter. Segment EBITDA for the quarter increased $1 million, or 3%, as compared to the prior year. Revenues in the quarter increased $25 million, or 13%, compared to the prior year, primarily due to the continued growth at REA Group and Move. The growth was partially offset by the $9 million and $4 million impact from REA Group’s divestiture of its European business and Move’s sale of its TigerLead® product, respectively. Segment EBITDA in the quarter increased $36 million, or 92%, compared to the prior year, primarily due to the higher revenues noted above, $13 million of lower legal costs at Move and the absence of $7 million of transaction costs related to iProperty in the prior year, partially offset by increased costs related to higher revenues and increased marketing expenses. Adjusted Revenues and Adjusted Segment EBITDA increased 15% and 68%, respectively. In the quarter, revenues at REA Group increased 10% to $117 million from $106 million in the prior year due to an increase in Australian residential depth revenue, driven by favorable product mix and pricing increases, and a $6 million impact from favorable foreign currency fluctuations. The growth was partially offset by a $9 million, or 9%, decline in revenue resulting from the sale of REA Group’s European business in December 2016. Move’s revenues in the quarter increased 15% to $100 million from $87 million in the prior year, primarily due to the continued growth in its ConnectionSM for Buyers product and non-listing Media revenues. The growth was partially offset by a $4 million decline in revenue associated with the sale of TigerLead® in November 2016. Based on Move’s internal data, average monthly unique users of realtor.com®’s web and mobile sites for the fiscal third quarter grew 9% year-over-year to approximately 55 million; traffic in March grew 13% year-over-year to over 58 million monthly unique users. Revenues in the quarter increased $15 million, or 14%, compared to the prior year primarily due to the acquisition of Sky News and favorable foreign currency fluctuations. Segment EBITDA in the quarter was flat compared to the prior year. Adjusted Revenues and Adjusted Segment EBITDA, which exclude the impact from favorable foreign currency fluctuations and Sky News, increased 1% and 3%, respectively. Equity (losses) earnings of affiliates for the third quarter were ($23) million compared to $2 million in the prior year. On a U.S. GAAP basis, Foxtel revenues for the third quarter increased $13 million, or 2%, to $591 million from $578 million in the prior year period. In local currency, Foxtel revenues decreased 3%. Foxtel’s total closing subscribers were 2.8 million as of March 31, 2017, with closing cable and satellite subscribers 1% lower compared to the prior year period. In the third quarter, cable and satellite churn was 16.1% compared to 14.3% in the prior year. Churn was at a more normalized level of 13.5% in March. Foxtel’s net income was nil, compared to $32 million in the prior year period, primarily due to $21 million in losses related to Foxtel management’s decision to cease Presto operations in January 2017 and a $14 million loss resulting from the change in the fair value of Foxtel’s investment in Ten Network Holdings. Equity (losses) earnings of affiliates for Foxtel of ($16) million and $4 million for the three months ended March 31, 2017 and 2016, respectively, reflect the Company's share of Foxtel's net income, less the Company's amortization of $16 million and $12 million, respectively, related to the Company's excess cost over its share of Foxtel's finite-lived intangible assets. Foxtel EBITDA decreased $13 million, or 9%, to $131 million from $144 million in the prior year. In local currency, Foxtel EBITDA decreased 13%, primarily due to lower revenues and planned increases in programming costs, specifically investments in sports. Foxtel operating income for the three months ended March 31, 2017 and 2016 was $79 million and $85 million, respectively, after depreciation and amortization of $52 million and $59 million, respectively. Operating income decreased primarily as a result of the lower revenues and increased programming spend noted above, partially offset by lower depreciation cost and the positive impact of foreign currency fluctuations. The following table presents net cash provided by continuing operating activities and a reconciliation to free cash flow available to News Corporation: Net cash provided by continuing operating activities decreased by $365 million for the nine months ended March 31, 2017 as compared to the prior year period, which was primarily due to higher NAM Group settlement payments of $234 million during the period, lower dividends received of $30 million, as well as higher working capital due to timing. Free cash flow available to News Corporation in the nine months ended March 31, 2017 was ($19) million compared to $362 million in the prior year period. The decrease was primarily due to lower cash provided by continuing operating activities as discussed above along with higher REA Group free cash flow, partially offset by lower capital expenditures. Free cash flow available to News Corporation is a non-GAAP financial measure defined as net cash provided by continuing operating activities, less capital expenditures (“free cash flow”), less REA Group free cash flow, plus cash dividends received from REA Group. Free cash flow available to News Corporation excludes cash flows from discontinued operations. The Company considers free cash flow available to News Corporation to provide useful information to management and investors about the amount of cash that is available to be used to strengthen the Company’s balance sheet and for strategic opportunities including, among others, investing in the Company’s business, strategic acquisitions, dividend payouts and repurchasing stock. A limitation of free cash flow available to News Corporation is that it does not represent the total increase or decrease in the cash balance for the period. Management compensates for the limitation of free cash flow available to News Corporation by also relying on the net change in cash and cash equivalents as presented in the Company’s consolidated statements of cash flows prepared in accordance with GAAP which incorporates all cash movements during the period. COMPARISON OF ADJUSTED INFORMATION TO U.S. GAAP INFORMATION Adjusted Revenues, Total Segment EBITDA, Adjusted Total Segment EBITDA, adjusted net income from continuing operations available to News Corporation stockholders, Adjusted EPS and free cash flow available to News Corporation are non-GAAP financial measures contained in this earnings release. The Company believes these measures are important tools for investors and analysts to use in assessing the Company’s underlying business performance and to provide for more meaningful comparisons of the Company’s operating performance between periods. These measures also allow investors and analysts to view the Company’s business from the same perspective as Company management. These non-GAAP measures may be different than similar measures used by other companies and should be considered in addition to, not as a substitute for, measures of financial performance calculated in accordance with GAAP. Reconciliations for the differences between non-GAAP measures used in this earnings release and comparable financial measures calculated in accordance with U.S. GAAP are included in Notes 1, 2 and 3 and the reconciliation of net cash provided by continuing operating activities to free cash flow available to News Corporation is included above. News Corporation’s earnings conference call can be heard live at 5:30pm EDT on May 9, 2017. To listen to the call, please visit http://investors.newscorp.com. This document contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ materially from these expectations due to changes in global economic, business, competitive market and regulatory factors. More detailed information about these and other factors that could affect future results is contained in our filings with the Securities and Exchange Commission. The “forward-looking statements” included in this document are made only as of the date of this document and we do not have any obligation to publicly update any “forward-looking statements” to reflect subsequent events or circumstances, except as required by law. News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, cable network programming in Australia, and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corporation are conducted primarily in the United States, Australia, and the United Kingdom. More information is available at: www.newscorp.com. The Company uses revenues, Total Segment EBITDA and Segment EBITDA excluding the impact of acquisitions, divestitures, costs associated with the U.K. Newspaper Matters, the NAM Group settlement charge, where applicable, and foreign currency fluctuations (“Adjusted Revenues, Adjusted Total Segment EBITDA and Adjusted Segment EBITDA,” respectively) to evaluate the performance of the Company’s core business operations exclusive of certain items that impact the comparability of results from period to period such as the unpredictability and volatility of currency fluctuations. The Company calculates the impact of foreign currency fluctuations for businesses reporting in currencies other than the U.S. dollar by multiplying the results for each quarter in the current period by the difference between the average exchange rate for that quarter and the average exchange rate in effect during the corresponding quarter of the prior year and totaling the impact for all quarters in the current period. The calculation of Adjusted Revenues, Adjusted Total Segment EBITDA and Adjusted Segment EBITDA may not be comparable to similarly titled measures reported by other companies, since companies and investors may differ as to what type of events warrant adjustment. Adjusted Revenues, Adjusted Total Segment EBITDA and Adjusted Segment EBITDA are not measures of performance under generally accepted accounting principles and should not be construed as substitutes for amounts determined under GAAP as measures of performance. However, management uses these measures in comparing the Company’s historical performance and believes that they provide meaningful and comparable information to investors to assist in their analysis of our performance relative to prior periods and our competitors. The following tables reconcile reported revenues and reported Total Segment EBITDA to Adjusted Revenues and Adjusted Total Segment EBITDA for the three and nine months ended March 31, 2017 and 2016. Adjusted Revenues and Adjusted Segment EBITDA by segment for the three and nine months ended March 31, 2017 and 2016 are as follows: The following tables reconcile reported revenues and Segment EBITDA by segment to Adjusted Revenues and Adjusted Segment EBITDA by segment for the three months ended March 31, 2017 and 2016. The following tables reconcile reported revenues and Segment EBITDA by segment to Adjusted Revenues and Adjusted Segment EBITDA by segment for the nine months ended March 31, 2017 and 2016. Segment EBITDA is defined as revenues less operating expenses, selling, general and administrative expenses and the NAM Group settlement charge. Segment EBITDA does not include: Depreciation and amortization, impairment and restructuring charges, equity (losses) earnings of affiliates, interest, net, other, net, income tax (expense) benefit and net income attributable to noncontrolling interests. Management believes that Segment EBITDA is an appropriate measure for evaluating the operating performance of the Company’s business segments because it is the primary measure used by the Company’s chief operating decision maker to evaluate the performance of and allocate resources within the Company’s businesses. Segment EBITDA provides management, investors and equity analysts with a measure to analyze the operating performance of each of the Company’s business segments and its enterprise value against historical data and competitors’ data, although historical results may not be indicative of future results (as operating performance is highly contingent on many factors, including customer tastes and preferences). Total Segment EBITDA is a non-GAAP measure and should be considered in addition to, not as a substitute for, net income (loss), cash flow and other measures of financial performance reported in accordance with GAAP. In addition, this measure does not reflect cash available to fund requirements and excludes items, such as depreciation and amortization and impairment and restructuring charges, which are significant components in assessing the Company’s financial performance. The Company believes that the presentation of Total Segment EBITDA provides useful information regarding the Company’s operations and other factors that affect the Company’s reported results. Specifically, the Company believes that by excluding certain one-time or non-cash items such as impairment and restructuring charges and depreciation and amortization, as well as potential distortions between periods caused by factors such as financing and capital structures and changes in tax positions or regimes, the Company provides users of its consolidated financial statements with insight into both its core operations as well as the factors that affect reported results between periods but which the Company believes are not representative of its core business. As a result, users of the Company’s consolidated financial statements are better able to evaluate changes in the core operating results of the Company across different periods. The following table reconciles Total Segment EBITDA to Income (loss) from continuing operations. NOTE 3 – ADJUSTED NET (LOSS) INCOME FROM CONTINUING OPERATIONS AVAILABLE TO NEWS CORPORATION STOCKHOLDERS AND ADJUSTED EPS The Company uses net (loss) income from continuing operations available to News Corporation stockholders and diluted earnings per share from continuing operations (“EPS”) excluding expenses related to U.K. Newspaper Matters, Impairment and restructuring charges, “Other, net” and the NAM Group settlement charge, net of tax, recognized by the Company or its equity investees (“adjusted net income from continuing operations available to News Corporation stockholders and adjusted EPS,” respectively) to evaluate the performance of the Company’s operations exclusive of certain items that impact the comparability of results from period to period. The calculation of adjusted net (loss) income from continuing operations available to News Corporation stockholders and adjusted EPS may not be comparable to similarly titled measures reported by other companies, since companies and investors may differ as to what type of events warrant adjustment. Adjusted net (loss) income from continuing operations available to News Corporation stockholders and adjusted EPS are not measures of performance under generally accepted accounting principles and should not be construed as substitutes for consolidated net income available to News Corporation stockholders and net income per share as determined under GAAP as a measure of performance. However, management uses these measures in comparing the Company’s historical performance and believes that they provide meaningful and comparable information to investors to assist in their analysis of our performance relative to prior periods and our competitors. The following tables reconcile reported net (loss) income from continuing operations available to News Corporation stockholders and reported diluted EPS to adjusted net (loss) income from continuing operations available to News Corporation stockholders and adjusted EPS for the three and nine months ended March 31, 2017 and 2016.


News Article | May 9, 2017
Site: phys.org

A woman who says she was mistreated by former Fox TV star Bill O'Reilly is calling on British regulators to reject 21st Century Fox's bid to buy the 61 percent of Sky that it doesn't already own, saying the deal would allow Fox to bring a culture of sexual and racial harassment to the U.K. Experts say that on current evidence the claims are unlikely to derail the bid for Sky, though it's still too early to know for sure. The takeover values Sky, which broadcasts Premier League soccer and top film offerings across Europe, at 18.5 billion pounds ($24 billion). For Fox, the situation is all too reminiscent of Britain's phone-hacking scandal, in which journalists working for Murdoch newspapers were accused of gaining illegal access to the voicemail messages of celebrities, members of the royal family and crime victims. Murdoch's News Corp. withdrew its previous bid for Sky in 2012, amid fallout from the scandal. News Corp. in 2013 split itself into two companies, with 21st Century Fox focusing on broadcast and cable television, as well as film and TV studios. Ofcom, Britain's telecommunications regulator, is currently reviewing the proposed deal to determine whether it is in the public interest. Among the issues it will consider is whether those who manage the entity are "fit and proper" to hold a broadcasting license, a test that provides broad latitude for regulators and the politicians who will make the decision. Critics of the deal want Ofcom to take into account lawsuits filed in the United States alleging racial and sexual harassment at Fox News, a unit of 21st Century Fox. Fox has moved to fire problematic employees, even senior ones such as O'Reilly, who denies any wrongdoing. That has led many analysts to suggest that Murdoch's companies were trying to show there's a new culture in the media empire as Rupert's sons take on bigger roles. Rupert Murdoch is executive chairman of 21st Century Fox and News Corp. His son Lachlan is also executive chairman of Fox and chairman of News Corp., while James Murdoch is CEO of Fox and chairman of Sky. In another example of aggressive house-cleaning, the Financial Times reported that News Corp. has decided to part company with Kelvin MacKenzie, former editor of the Sun, Britain's biggest newspaper by circulation. MacKenzie has been at the center of controversy since last month when he wrote a piece comparing England soccer player Ross Barkley, who has a Nigerian grandfather, to a gorilla. Fox did not immediately respond to an email request for comment. However, when Rupert Murdoch was asked by the BBC outside his offices in New York whether Ofcom was going to consider what's happening at Fox News, he shook his head and said "nothing's happening at Fox News. Nothing." The company has in the past said it "welcomes a thorough and thoughtful regulatory review." "We believe this transaction is in the interest of the U.K., its creative economy and its consumers," the firm told the Department for Culture Media and Sport. "For the past 30 years, (21st Century Fox) and Sky have been broadcasters of good standing in the UK, a responsibility we take seriously." One of the people to come to London to speak with Ofcom is Wendy Walsh, a psychologist and Los Angeles radio host who was once a regular guest on Fox News' "The O'Reilly Factor." Walsh said many women were unable to speak out because Fox's way of dealing with the complaints was to pay women off and muzzle them with disclosure agreements. She says the bid for Sky should be blocked because media companies have a special role in society. "A corporation should not become a monopoly over a media entity," she told The Associated Press. "The role of the media has always been to be the Fourth Estate, the watchdog on government and greedy corporations. You are not supposed to be the greedy corporation." Attorney Douglas Wigdor, who represents 21 people with complaints against Fox, also plans to travel to Britain later this week to speak with Ofcom. Wigdor, who represented Nafissatou Diallo, the chambermaid who accused ex-International Monetary Fund boss Dominque Strauss-Kahn of sexual assault, said he had a responsibility to inform regulators about the complaints from his clients about Fox. "I refer to them as 18th-Century Fox," he said, arguing that the company's behavior is more typical of that century. Under British law, Ofcom examines whether people who control media enterprises have "a genuine commitment" to broadcast standards. The regulator also has "an ongoing duty to be satisfied that the holders of broadcast licenses are fit and proper to be licensed." But it remains to be seen whether regulators will be swayed by the storm. Media analyst Alice Enders of Enders Analysis said that while Ofcom will listen to the testimony and take such evidence into account, phone hacking and sexual harassment are very different types of conduct. "People are fanning the flames and the smoke signals are rising, but it's got to be more than a group of people aggrieved by their workplace environment," Enders said. Enders said added that it was also important to be judicious in the conclusions drawn. "I think it's very important that we realize that people are typically innocent until proven guilty so every allegation that's made around 21st Century Fox is not, in fact, fact," she said. Walsh is unapologetic. She believes she is in a unique position to speak out. "I just want this to be an example," she said. "Large companies can't do business this way."

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