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Murdoch Optimistic About Future

October 13, 1998

ADELAIDE, Australia (AP) _ Rupert Murdoch, chairman and chief executive of News Corp. Tuesday painted a cautiously optimistic picture of the Australian-based media and entertainment company’s outlook for the current fiscal year ending June 30, 1999.

Outlining prospects for the filmed entertainment division at an annual shareholders meeting, Murdoch said, ``We are feeling fairly bullish about it. It is having a good time and we expect it to have another very good year.″

News Corp. expects around 40 million video copies of box-office success ``Titanic″ will be sold worldwide.

As for News Corp.’s U.S. television operations, which includes the Fox Broadcasting Co. television network and 22 owned and operated television stations, Murdoch said 1998-99 got off to a ``slow start″ in terms of advertising. However, if current indications for ``this month (October) and next come true, we will be in very good shape with the stations,″ he said.

``We are doing well, but it’s rather noticeable that advertisers are more nervous,″ he said.

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