Storied media company Tribune Media Co. this morning announced its board has retained Moelis & Co. and Guggenheim Securities to explore “strategic and financial alternatives,” including the “sale or separation of select lines of business or assets, strategic partnerships, programming alliances and return of capital initiatives.” The announcement, which was made as part of mixed fourth-quarter and full-year 2015 earnings release, as well as a $400 million stock repurchase program, comes amid a broader restructuring of old line media companies.
Fiscal 2019 Second Quarter Key Financial Highlights
•Revenues of $2.63 billion, a 21% increase compared to $2.18 billion in the prior year, reflecting the consolidation of Foxtel and continued strength at the Book Publishing and Digital Real Estate Services segments
•Net income was $119 million compared to a net loss of ($66) million, which included a $174 million negative impact related to the U.S. Tax Cuts and Jobs Act in the prior year
•Total Segment EBITDA was $370 million compared to $328 million in the prior year
News Corporation (“News Corp” or the “Company”) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2018.
Commenting on the results, Chief Executive Robert Thomson said: “News Corp has reported increased profitability and revenue growth during the first half of Fiscal 2019, highlighting the power of premium content and authenticated audiences in a fact-challenged world that craves credibility.
For the second quarter, the Company saw 21% revenue growth and a 13% rise in profitability, reflecting the consolidation of Foxtel and a healthy expansion of revenues in the Book Publishing and Digital Real Estate Services segments.
At News and Information Services, we saw a continuation of positive trends in paid digital subscriptions, including accelerating gains at The Wall Street Journal, and stronger digital advertising revenues in both the U.S. and Australia.
Although our teams have been diligent in pursuing revenue opportunities, the digital platforms, which arbitrage algorithmic ambiguity, remain dysfunctional. It is clear that there has been a regulatory awakening and the time has come for a regulatory reckoning.
more detail at: https://newscorp.com/2019/02/07/news-corp-reports-second-quarter-results-for-fiscal-2019/