TV to be viewed solely online, predicts Netflix chief
Netflix chief executive Reed Hastings predicts all TV content will be viewed solely online within 20 years. Hastings made the bold statement at the Consumer Electronics Show in Las Vegas, proclaiming the “birth of a new global TV network”. In 2015, 3.2 billion people across 60 countries watched 42.5 billion hours of Netflix, the online television streaming service. Netflix reportedly accounts for 36.5% of internet traffic during prime time, twice that of its closest competitor, YouTube.
Murdoch media companies pay least tax
Eight of the 10 media companies that paid no tax in 2014 are linked to the Murdoch empire, the Australian Financial Review reports. Australian Tax Office data shows companies linked to News Corporation were far less profitable than media rivals, with interest payments on loans from associated companies helping to reduce profit margins. Three News Corp tax groups had combined revenues of $4.1 billion, but only one, News Australia Investments, had a taxable income of $97.2 million. Multinationals are known to use such tactics, which are entirely legal, to reduce profit margins in countries with higher corporate tax rates.
Fox dismisses report of Time Warner bid
21st Century Fox has denied an online report it made a renewed takeover bid for Time Warner Inc, Fairfax media reports. The website Benzinga had reported Fox offered US$105 per share for its larger rival. Fox says in a statement the report is "categorically untrue".
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