LONDON (Brand Republic) - Children鈥檚 broadcaster Fox Kids Europe has said it would benefit if News Corporation took full ownership of the Fox Family Worldwide group of television channels.
Fox Family owns 76% of Fox Kids Europe which yesterday announced pre-tax profits of $1.1m (£0.76m) for the six months ended November 30, compared with a $4.7m deficit during the same period last year.
Ynon Kreiz, chairman and chief executive of Fox Kids Europe, said 鈥渆xciting opportunities鈥 lay ahead if News Corporation completed the deal to acquire the remaining stock. Murdoch鈥檚 company already owns 50% of Fox Family and is in talks with Saban Media to buy its half.
鈥淯p until now, News Corp has psychologically given us 50% support. As a full owner, it would give us 100%,鈥 Kreiz said.
Analysts expect that full ownership by News Corporation would give Fox Kids more access to digital platforms and the lucrative interactive TV market. Kreiz also said that pay-TV would protect Fox Kids from the advertising downturn that some terrestrial broadcasters have suffered.
Fox Kids has 23m subscribers in 53 European and Middle Eastern countries and nearly doubled advertising and subscription revenues in the first half of the year to $28.7m (£19.86).