3 Media Stocks in Focus: News Corp. Contends with Murdoch Comment, Comcast Leads Box Office, and Netflix’s Mixed Relationship with Hollywood
News Corp. (NASDAQ:NWSA): It seems Rupert Murdoch’s offhand comments about paying officers for news tips has ignited an investigation. British authorities have made a formal request to the investigative website ExaroNews to hand over a secret recording in which Murdoch indicated that payments to public officials for information was part of the culture of U.K. journalism. Legislator John Whittingdale contends that Murdoch may have actually committed contempt of Parliament with what could have been misleading testimony last year.Investing Insights: Can BP Get Past The Oil Spill?
Comcast Corp. (NASDAQ:CMCSA): Comcast’s Universal Studios continues its flow of box office hits, this time with Despicable Me 2. The film trounced Disney’s (NYSE:DIS) Lone Ranger effort. Despicable Me 2 pulled in $142.1 million during the extended July 4 weekend, while The Lone Ranger took in a sub-par $48.9 million.
Netflix (NASDAQ:NFLX): As Netflix shares continue to plow north, The Wall Street Journal has pointed out that the company’s model has made Hollywood “more comfortable backing the kinds of ‘risky’ serialized dramas,” given that the streaming service’s. Fox’s (NYSE:FOXA) The Killing is an example: AMC agreed to a third season at a lower price once Netflix struck a deal for exclusive streaming rights three months after the season finale.