Murdoch Says Huge TV Profits Are History

MURDOCH SAYS HUGE TV PROFITS ARE HISTORY
[SOURCE: MediaDailyNews, AUTHOR: David Goetzl]
News Corp CEO Rupert Murdoch all but declared on Tuesday that the sky's-the-limit profits from traditional broadcast TV are over. Calling broadcast television a "highly challenged industry in America," he said that big events such as the Super Bowl can still prosper, but ho-hum-rated series that fill prime time are at risk for generating declining interest among audiences and advertisers alike. "I think we have to be a little sensible about this--and realize that free-to-air television faces a lot of challenges, just from the sheer fragmentation of the audience," Murdoch told shareholders in Australia, citing many homes with hundreds of channels. And that comes, he said, despite broadcasters "probably [offering] the best programs (with) the most excitement about them."
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