All Posts Tagged With: "SNE"
News Corp. Expands Presence in India with $100 Million Investment
News Corp. (NWS), the media giant owned by Rupert Murdoch, will strengthen its presence in India with the creation of six regional television channels.Murdoch has in the past warned that an advertising slowdown in the newspaper and television industries would have a decidedly negative impact on U.S. media businesses. At the same time, however, India’s entertainment market is just beginning to realize its potential.
About 17 million viewers joined India’s burgeoning television market in the first half of 2008. Television advertising responded to the broader audience, growing 26% in the first six months of the year.
The media and entertainment market in India is expected to grow by 18.5% by 2012, according to consultancy firm PwC. That’s the fastest among the BRIC countries (Brazil, Russia, India and China), as China’s rate of growth over the next four years is projected at 14.6%.
Annual revenue for television in India is expected to double to $11.6 billion in that time, as well, according to Media Partners Asia.
“In the long term, the media and advertising outlook for Asia is tremendous as wealth is created and people get educated and you see the emergence of a wealthy middle class,” Reuters quoted Murdoch as saying earlier this week.
News Corp. aims to exploit that remarkable growth potential with a $100 million investment through Star India, a wholly owned subsidiary of the company. Star India broadcasts entertainment and music on channels such as Star One and Star Plus. It also has a 26% stake in Media Content & Communication Services India, an operator of three news channels.
The move could be a precursor to an expansion into India’s movie business as well. The Indian film industry, known as “Bollywood,” produces about 1,000 movies a year, making it one of the most prolific in the world. Warner Group (TWX), The Walt Disney Co. (DIS), Sony Pictures Entertainment (ADR: SNE), and Viacom Inc. (VIA) already have already undertaken joint ventures in India and News Corp.’s 20th Century Fox movie studios won’t want to stand on the sidelines much longer.
News Corp. also plans to nearly triple the size of its editorial staff at its Indian Dow Jones from 25 employees to 70, although government regulations make it difficult to do business, particularly in print.
“We don’t see ourselves taking a stake in print… because they are not available and because we won’t want to take just a 26% stake,” Murdoch said.
Foreign investment in news publishing and broadcasting is limited to 26% by the government.
Still, Murdoch remains positives about India’s prospects.
“We are happy here,” he said “The slower expansion of the economy may slow growth a bit, but in the long term there is a lot of growth to be had.”
Source: News Corp. Expands Presence in India with $100 Million Investment
Although Federal Reserve Policymakers Are Set to Meet, They Have Little Room to Maneuver
U.S. Federal Reserve Chairman Ben S. Bernanke and his fellow central bank policymakers will be back in the spotlight this week as the group convenes for its monthly monetary-policy meeting.
A ‘Hidden’ Profit Play in Digital Photography
It might seem a bit late to jump on the digital photography bandwagon. But Penny Sleuth’s Greg Guenthner says he has found the last hidden opportunity in the industry.
Global Investing Roundups Thursday, July 31st, 2008
Crude Gains on Lower Supply; Comcast Earnings Boost; Garmin Shares Plunge on Lowered Outlook; United’s Pilot Trouble; Private Employers Add Jobs; Nissan Buys Out TN Plants; ArcelorMittal’s Strong Second Quarter; Nintendo Brings Its A-Game
- Crude oil for September delivery gained $4.58 yesterday (Wednesday) to close at $126.77 a barrel on the New York Mercantile Exchange, MarketWatch reported, after the Energy Information Administration announced crude supplies fell 100,000 barrels to 295.2 million barrels for the week ended July 25.
- Comcast Corp. (CMCSA), the largest U.S. cable television provider, announced yesterday (Wednesday) that net profit in the second quarter rose to $632 million, or 21 cents a share, from $588 million, or 19 cents a share, in the prior year, Reuters reported. Comcast stock gained 89 cents, a 4.64% increase, to close at $20.07 on the news.
- Navigation system maker Garmin Ltd. (GRMN) lowed its full-year outlook to $4.13 per share from an earlier estimate of $4.40 per share in light of the weakening U.S. economic conditions, Forbes reported. Yesterday (Wednesday), the firm missed earnings expectations for the quarter ended June 28, causing shares to plunge over 20%.
- UAL Corp. (UAUA), parent of United Air Lines Inc., filed suit yesterday (Wednesday) against the Air Line Pilots Association union, The Wall Street Journal reported. UAL is seeking an injunction against an unlawful sickout, which caused United to cancel an abnormal number of flights.
- Private employers added 9,000 jobs in July, a private report by ADP Employer Services said yesterday (Wednesday). In June, the private sector slashed 77,000, according to revised data. June was originally reported as 79,000 jobs lost.
- Nisssan Motor Co. Ltd. (ADR: NSANY) said yesterday (Wednesday) that it plans to offer buyouts to about 6,000 workers at its two Tennessee plants and eliminate a night shift at one of them, Reuters reported. Citing lower demand for pickup trucks and sport utility vehicles the company said it would offer technicians and salaried employees a lump sum of $100,000 or $125,000, depending on tenure, as well as medical and car purchase benefits.
- ArcelorMittal (ADR: MT) had a second-quarter surge in earnings, as high steel prices offset soaring mineral costs. Net income rose to $5.84 billion from $2.72 billion a year earlier. Revenue was $37.84 billion, from $27.2 billion a year earlier.
- Nintendo Co. Ltd.’s (OTC ADR: NTDOY) quarterly profit rose 31.5% on the runaway success of its Wii game console. The Wii outsold Sony Corp.’s (SNE) PlayStation 3 and Microsoft Corp.’s (MSFT) Xbox 360, putting Nintendo in the leading position in the three-way game console battle, Reuters reported. April-June net profit rose 33.7% to $1 billion (¥107.27 billion) on sales of $3.9 billion (¥423.38 billion), up 24.4%.
Immersion (IMMR) Has Rocket-Like Potential
If you are looking for a company with rocket-like potential, Smart Profits Report tech investing expert Paul Moore says small-cap Immersion (Nasdaq: IMMR) could fit the bill.
Immersion develops haptic technologies that allow people to use touch to operate digital devices. Think the type of fancy touch-screen technology used by the much-hyped iPhone.
Paul says Immersion remains loaded with potential but remains still somewhat on the launchpad. But with three major set to toss the firm new business, Paul is bullish…
How ETFs Can Bag You High Profits Without the Risk
Editor’s Note: ETFs are revolutionizing financial markets, according to Money Morning’s Horacio Marquez. They allow investors to follow global trends without having to select individual stocks. They provide easy access to otherwise impossible-to-reach profit plays. And, by grouping stocks in a fund, they significantly reduce systematic risk in the market. For these reasons, Horacio says ETFs are the best way for investors to play today’s global trends…
Could This Stock Be the Best Pink Sheet Play Ever?
Typically, when investors hear “pink sheet stocks,” they think of tiny companies, more often bad than good, and for the analysts out there, it means a ton of work lies ahead of them.
Investing View: Why Small Contracts Can Lead to Big Profits During Turbulent Times
There’s an old adage in business that big contracts command big headlines. But bigger isn’t always better. All too often, companies that focus only on big contracts discover there are very lean stretches between contract awards. And that affects the predictability of their earnings.
New Ventures Have Sanyo Looking Sharp
Talks About Inflation and Interest Rates Will Be on the Front Burner This Week as Economic Speculation Resumes
You can bet there will be a lot of discussion about interest rates this week, thanks to the release of the producer price index (PPI) report tomorrow (Tuesday) and the U.S. Federal Reserve meeting minutes on Wednesday.
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