Wednesday, May 04, 2005
FNC Betting on Higher Sub Fees To Bring More $$$$
Source: Variety (sub need) Well if your cable bill goes up in the next year or two, Rupert Murdoch could possibly be to blame. It seems Murdoch is betting on higher subscription fees to put more jingle in his pocket. And he ain't even a true American. Go back Australia, Rupert! Anyway there's an article in Variety outlining his scheme and below is a portion of it:
Cable networks and film goosed News Corp.'s latest quarter, with execs pleased by the fresh cash they expect once Fox News starts renegotiating affiliate deals.
Chairman-CEO Rupert Murdoch and chief operating officer Peter Chernin said Fox News' first deal expires in September 2006. The bulk will be renegotiated within two years; all will be wrapped up in four. Chernin said each additional 25¢ per subscriber -- "and believe me, we think we're worth a lot more than that -- is worth $250 million to the bottom line."
Fox now receives about 23¢ per sub, roughly half of CNN's take, "and we beat them at least 2-to-1 every day of the week," Murdoch said.
# posted by ATN @ 10:37 PM 
