Boston, MA 08/19/2014 (wallstreetpr) – Twenty-First Century Fox Inc. (NASDAQ:FOXA) has confirmed that it is planning to expand production of its local-language shows as it seeks to boost its profits past the $1 billion mark in the international markets. Focused on programming outside the U.S., the giant TV network plans to expand its original production in Latin America and Asia where it has a huge following. Hernan Lopez, president and CEO of the division maintains that even though U.S. premium channels have gained traction in terms of original content, they have not fully exploited the local languages.
International markets continue to offer Twenty-First Century Fox Inc. (NASDAQ:FOXA) one of the best opportunities for growth, at the back of a reach of at least 1.7 billion households outside the U.S… Pay TV subscriptions continue to expand at an impressive rate for the company outside the U.S., with advertising also picking and sure to impact the company’s revenues.
Fox Targeting $1 Billion from International Markets
Twenty-First Century Fox Inc. (NASDAQ:FOXA) expects its international channels as well as Fox news and other regional sports to support profit rise in Cable TV this year, by a high single digit to low double-digit percentage. On August 6, Chief Financial officer John Nallen raised optimism that the company could topple the $ 1 billion mark in terms of profit from international channels. The CFO also expects foreign currency rates to have a substantial impact on the high margins that the company anticipates from these markets.
The push for international channels comes as Chairman, Rupert Murdoch, early this month withdrew a $75 billion bid to acquire Time Warner Inc. (NYSE:TWX), a move that would have increased the company’s international holdings. Lopez has stated that the company is now more than ever focused on growing organically and will only pursue acquisition if they find them necessary and suitable
Fox currently runs more than 300 networks outside the U.S WITH ITS CHANNELS RUNNING SHOWS LIKE Zombie drama “the walking dead.”
