Word: murdochs
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...Murdoch saw the makings of a fourth network among the booming number of independent stations. While the majority of stations (637) are still affiliated with one of the Big Three, the number of commercial, English- language independents has more than doubled since 1979, to 235, and their audiences have grown apace. Between 1979 and 1984 the networks' share of the U.S. viewing audience fell from 89% to 76%. Independents reckon they picked up about half that audience, with the rest turning to cable programming and videocassette recorders. "We think our opportunity lies in the decline of the networks' share...
Besides forming the foundation for a network, Murdoch's independent stations already produce plenty of profits. The total advertising revenue among independents has grown from $1.3 billion in 1980 to $2.5 billion last year. An FCC ruling last April is particularly encouraging to Murdoch and other operators of independent TV chains: it allows an individual or company to own as many as twelve independent stations, up from seven. Predicts Lee Isgur, who follows the entertainment industry for the investment firm Paine Webber: "Murdoch will buy more stations as soon as he can finance them...
...growth of independents has produced a cavernous appetite for programming of the sort Murdoch hopes to provide. The independents' staple fare, reruns of recent network series like Webster, now earn their production companies as much as $1.5 million per episode in nationwide syndication deals. Independents will spend an estimated $750 million to buy programs this year, up from $75 million in 1975. Says Eugene McCurdy, president of the independent WPHL-TV in Philadelphia: "I think Mr. Murdoch's timing is excellent. The market is there, waiting to be served...
...Murdoch will be able to offer a rich storehouse of ready-made programming from the 20th Century-Fox film library, which contains such old properties as the Star Wars movie trilogy, the M*A*S*H series and more recent shows like Trapper John, M.D. Says Analyst Isgur: "The Fox library is wonderful for Murdoch. There's little marginal cost and great profit potential." Gaining access to a film library was a prime reason for another big studio takeover in August, when Cable King Ted Turner bought MGM for $1 billion...
Besides selling reruns Murdoch will be able to offer the independents some brand-new shows produced by 20th Century-Fox's studios. This so-called first-run syndication business is flourishing right now. Among the biggest hits: Entertainment Tonight, Wheel of Fortune and People's Court. The Fox studio still lags behind such rivals as Paramount Television and Tribune Entertainment, an independent TV group that produces the cop opera Dempsey & Makepeace. 20th Century-Fox now makes only four shows for first-run syndication, including $100,000 Pyramid and Dance Fever. At the moment, Murdoch is in no hurry to assume...