|
 "We believe the traditional bundle offers great value to
consumers and will be the primary consumer package for years to
come," Carey said on Tuesday during an third quarter earnings
call with analysts. He was referring to traditional cable
packages that "bundle" together several channels for one price.
Consumers have drastically changed the way they watch
television, opting for on-demand content offered by Netflix Inc
or Amazon.com Inc that can be viewed on a array of devices from
TVs to smartphones to tablets.
The shift has prompted several big media companies, notably Time
Warner Inc and CBS Corp, to announce products that stream TV
programs and movies over the Internet without a cable
subscription.
Carey said on the call that changing viewing habits "also means
we'll be able to engage the consumer more directly, to create
more exciting and valuable experiences.
"We are not going to be reactive," he added. "We want to make
sure we are proactive about forming our own judgments about what
kinds of offerings that are additive to our business that exist
today."
Also on Tuesday, Fox reported better-than-expected quarterly
revenue and profit, helped by growth in its cable network and
film studio businesses.
The company reported a 12 percent rise in revenue to $7.89
million, which beat analysts' average estimate of $6.25 billion,
largely driven by the box-office success of "Dawn of the Planet
of the Apes" and "The Fault in Our Stars."
[to top of second column] |
Fox shares rose 1.6 percent to $33.85 after the bell on Tuesday.
Revenue from cable networks, the company's largest business, rose 15
percent to $3.23 billion, while filmed entertainment revenue was up
17 percent at $2.48 billion.
Revenue at the television division was flat at $1.05 billion, held
back by declining advertising revenue tied to weak ratings.
Net income attributable to shareholders fell to $1.04 billion, or 47
cents per share, in the quarter ended Sept. 30, from $1.26 billion,
or 54 cents per share, in the same quarter of 2013.
On an adjusted basis, the company earned 39 cents per share.
Analysts had expected a profit of 36 cents per share, according to
Thomson Reuters /B/E/S.
(Reporting by Lehar Maan and Sai Sachin R in Bangalore.; Editing by
Joyjeet Das, Saumyadeb Chakrabarty and Andre Grenon)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
