Murdoch Optimistic About Future
Oct. 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.