The company's stocks and economies are further described in News Corp's most recent Annual Report for 2010 by chairman Rupert Murdoch. Inside this report, it is described that "full-year revenues in 2010 rose 8 percent to $32.8 billion and net income for the full year was $2.5 billion. Earnings were $0.97 per share, with a cash balance of $8.7 billion." Additionally, it is highlighted by Murdoch that various IR operations were strengthened which included:
- "Negotiating new retransmission consent agreements with a number of cable providers which will help ensure we return to a robust U.S. broadcast television business;
- Expanding successful franchises like National Geographic Channel. This launched Nat Geo WILD and the Fox International Channels, which launched 29 channels this past year;
- Delivering on the promise of 3D with Avatar
- Developing new economic models for digital journalism that will help us expand our brands."
Inside the 2010 fiscal year, the Annual Report also brought to attention that News Corporation acquired the 61% of BSkyB (a British and Irish public satellite broadcasting company) that the corporation did not already own with an all-cash offer of 700 pence per share. The site also features publicly traded investments as of June 15, 2010. This includes the affects of the BSkyB buy as well as others listed here:
| Company Name | Ticker Symbol | Listed Exchange | Shares (in Millions) |
|---|---|---|---|
| British Sky Broadcasting PLC | BSY | LONDON (LN) | 686.0 |
| Sky Deutschland | SkyD | GERMANY (GR) | 244.9 |
| Sky Network Television Limited | SKT | NEW ZEALAND (NZ) | 169.9 |
| Realestate.com | REA | Australia (AU) | 77.3 |
| Phoenix Satellite | 2008 | Hong Kong (HK) | 871.0 |
©2011 News Corporation. All Rights Reserved.
Phoenix Satellite has greatest amount of shares invested in by News Corp with BSkyB following. Press releases reveal more current earrings of the corporation's financial earnings such the release of the 2nd Quarter Fiscal 2011 Earnings in addition to promotions of big executives. For example, the most recent release on the promotion of Julie Henderson as the new Senior Vice President of Communications and Corporate Strategy.
Lastly, News Corp's Annual Meeting of Stockholders was held on October 15, 2010 at 10:00 a.m in New York according to this proxy posted on News Corp's Web site. At the 2010 Annual Meeting, stockholders were asked to "elect 15 Directors to the Board of Directors, ratify the selection of Ernst & Young LLP as the Company’s public accounting firm for the fiscal year ending June 30, 2011. In addition, consider a stockholder proposal concerning the establishment of a human rights committee, a shareholder say on executive pay, and consider any other business properly brought before the Annual Meeting," as the proxy further said.
Additionally, a voting form is also available online as well as a 10-K form, showing that formal disclosure methods are used at News Corp. This means specific business information must be filed with government regulators such as the Securities and Exchange Commission (SEC), on a consistent basis. Informative practices such as these are valuable tools to reinforcing News Corp's financial reputation to not only shareholders and investors, but to the general public who all can access the info on the corporation's Web page.
No comments:
Post a Comment