News Corp Plays Sports

Another quarter, another stellar performance from News Corp’s cable networks division, the highest growth business at the global media major.

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Media Partners Asia (MPA) analysis indicates that News Corp’s consolidated pay-TV assets in Asia (Star India, Fox International Channels and ESPN-Star Sports) will generate a combined ~US$2 bil. in sales next year (FYE June 2013, equivalent to 19% of total cable networks sales) with EBITDA at US$0.42 bil. as margins are depressed somewhat in the near term by the recent acquisition of ESPN-Star Sports, which is currently generating negative EBITDA.

On its results conference call, News Corp president and COO Chase Carey cited the growth of FIC Asia and Star India as key drivers, with Star ad sales performing well while FIC gained on the back of ad sales and affiliate gains in Southeast Asia, Taiwan and Japan.

Full analysis in Issue 119 of Media Route 26