News Corp President/coo No Cheap Deals With Digital
Echoing the sentiments of News Corp Chairman Rupert Murdoch, Chase Carey, the company's deputy chairman, president and COO, said Wednesday that the company's Fox broadcasting and cable networks will only allow their content to be distributed online if they are paid "fair value." He indicated that Fox has made a very modest content deal with Netflix to allow some of its programs to be streamed -- but, in an address to the UBS Global Media and Communications Conference in New York, he worried that cable and satellite companies might not buy those shows if they're available on Netflix's $8.00-a-month streaming service. Carey also criticized the disparity in carriage fees paid by cable companies, noting that News Corp's Fox News channel receives only a fraction of what Disney's ESPN does. He said that he intends to demand higher rates for the channel in upcoming renewal talks with the cable companies. "I would say it is right up there with ESPN in terms of being as important a channel that exists out there," he said. Currently Fox News is believed to average around 58 cents per subscriber per month, according to SNL Kagan, while ESPN averages around $4.00.