Twenty-First Century Fox 2005 Annual Report Download - page 10

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their medium of choice for news and information. Any company that ignores this trend does so
at its own peril. Indeed, I noted that companies such as ours – with an abundance of original
content, access to millions of subscribers and a culture of entrepreneurship – must embrace the
opportunities that will flow from the coming ubiquity of broadband and find ways to monetize
their content on the web.
In July this year, we took the first major steps in our Internet strategy. We established
a new unit – Fox Interactive Media (FIM) – to consolidate and oversee the strong online presence
of all Fox divisions, from news to sports to entertainment. FIM will also leverage our vast archive
of content to create the ultimate online hub for users of widely varying interests.
FIM quickly made several strategic investments. We announced the acquisition of Intermix
Media, which owns – among other sites – MySpace.com, the fifth most visited domain in the
U.S. With this deal, we will instantly
double the number of visitors to our sites
and vastly strengthen the foundation
on which we can build a bigger, better,
more compelling Internet experience for
our customers. We then agreed to buy
Scout Media, Inc., the parent company
of Scout.com, the country’s number one
independent online college sports network, to build on our strengths in sports broadcasting.
Our strategy for the Internet is the same as our strategy for other media. News Corporation
will combine the best content with the strongest distribution platforms to offer consumers the
widest variety of quality choices. A stronger, smarter Internet presence will enable us to get the
most out of our content, expand our reach and exponentially increase consumer choice. Our
aim is nothing less than to provide the best and stickiest Internet experience available anywhere.
Make no mistake: this is a major ongoing initiative and our senior management will devote
much of its time in the coming year to this area. I hope to report much more progress in this
letter next year.
None of our success – this year or any year – would have been possible without the
vision, integrity and hard work of News Corporation’s directors and employees. News Corp. staff
go above and beyond the call of duty every day – not just in their work, but in their endeavors
to help those in need everywhere. This past December, we were all humbled by the devastating
tsunamis that ravaged much of South Asia, causing a tragedy of unimaginable breadth. While
News Corp.’s news outlets swung into action to bring news of the disaster to readers and viewers
around the world, Company executives in New York, Hong Kong, Sydney and London met to
devise ways in which the Company and our employees could help relief and reconstruction efforts.
News Corp. employees responded generously and earnestly and, together with the Company,
contributed more than $8 million. From STAR News’ round-the-clock coverage of the tsunami
in India, to the individually organized charity events hosted by employees and matched by the
Company in the U.K. and U.S., to public service announcements on the FOX network, we
demonstrated our commitment to help serve our worldwide communities. It was a company-wide
effort of which I was enormously proud.
In closing, I am sure all shareholders would want to join me in thanking former Board
director Geoff Bible for his years of service to our company. Geoff joined the Board as a
non-executive director in 1998 and was chairman of the Nominating and Corporate Governance
Committee, overseeing a raft of major changes in the past few years. Geoff will be particularly
missed and we wish him well as he enjoys his retirement.
> A stronger, smarter Internet presence will
enable us to get the most out of our
content, expand our reach, and exponentially
increase consumer choice.