Twenty-First Century Fox 2014 Annual Report Download - page 4

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While our corporate structure
has changed, our mission has never
wavered. Every day we strive to
deliver engaging and distinct stories
that connect on a personal level with
audiences around the world. Where
once there was just a handful of
television channels, in today’s media
landscape consumers have more
access and choice than previously
imaginable, and in more markets than
ever before. This has made quality
storytelling more important than ever,
and I am proud that our businesses
have helped lead the way in this
creative renaissance.
At the same time that we have
pursued growth, we have been
disciplined with our capital allocation
and focused on returns. We ended
the fiscal year with our strongest
quarterly financial performance of the
year, with a 19% year-over-year gain
in total segment operating income
before depreciation and amortization
(OIBDA), and 7% full-year growth. With
our fiscal 2014 results, we are well
positioned to achieve our three-year
growth target.
The following review of our
business segments is a snapshot
of the strong foundation we have
Dear
Fellow Stockholder
built over the years, as well as the
momentum we have gained during
the last fiscal year.
Our cable channels business
continues to drive our financial
performance. The Cable Network
Programming segment surpassed
$12 billion in revenue for the first
time in our history, up 13% over the
prior year. During the fiscal year,
we made targeted investments in
this high-growth segment across a
range of recently acquired or newly
launched sports and entertainment
channels, including Fox Sports 1,
FXX, the YES Network, STAR
Sports in India, Sports Time Ohio
and others. These investments,
which underscore our long-
standing commitment to providing
unprecedented quality in global
sports and entertainment, are vital
to the future growth of our business.
For years, breakthrough
entertainment, news and sports
programming has defined our
cable properties. In fiscal 2014 our
brands continued to stand out from
the pack on the success of both
new and established shows, and
the growing footprint of our global
sports rights.
A year ago we set out as 21st Century Fox, eager to seize new
opportunities to bring audiences around the world unique
and powerful storytelling. In our first full year we achieved
impressive results, bolstering our position in the thriving
global market for quality entertainment, news and sports,
even as we continue to make long-term investments in new
channel development. We are delivering on our commitment
to provide enhanced vision and value for our stockholders
through growing our existing businesses, making targeted
investments for the future and achieving operational
excellence.
Rupert Murdoch
Chairman & Chief Executive Oicer
21st Century Fox