Murdoch Pushes Fox Retransmission Fees

At shareholders meeting, News Corp. chief says broadcast business model must change.

Last Updated: October 19, 2009 @ 9:48 AM

News Corp. will start seeking broadcast network retransmission fees from cable and satellite TV providers as the broadcast business "can no longer be supported" by advertising dollars alone, chairman and CEO Rupert Murdoch said here Friday.

Speaking at his conglomerate’s annual shareholders meeting, he reiterated previous comments from president, COO and vice chairman Chase Carey that the broadcast business model is severely challenged and needs to change. Carey had also hinted at possible retrans fees for Fox.

Read more at the Hollywood Reporter.