Fox 2.0: Lachlan Murdoch’s ascension could mean new offerings for Indian viewers

News of Lachlan Murdoch being appointed the CEO and chairman of the ‘new Fox’ company after the much-publicised Walt Disney deal confirms one thing – sports and news will continue to remain the cornerstones of the Fox network.

In the Indian context, Murdoch’s crown jewel - Star India - will be under the control of Walt Disney. But it would be foolish to rule out return of Murdochs in a different avatar in India. Rupert Murdoch’s fascination with news business has been well-documented and the only stumbling block has been the FDI rules.

Lachlan had earlier made investments in his personal capacity in Rajasthan Royals and is known to be a keen follower of sports, especially cricket.

So, what are the odds of Murdochs again taking a stab at their Indian market plans?

“It is a possibility. But a lot of water has flown under the bridge. The Indian sub-continent media scenario is changing at a rapid pace. What held true 15 years back could not be the case in point today. Previous experience counts but learning the new-ropes, too, is imperative,” Dinesh Vyas, Vice-President, PHD, told Moneycontrol.

Raman Kalra, Partner, PwC India - Entertainment, Media & Sports Sector Advisory Leader, is also of the opinion that the Indian sports media landscape is buzzing and active for any big global media house to ignore.

“India is among the fastest growing market in sports today & it's transforming from a cricket only nation to multi-sport nation. There is a concentrated focus from government with initiatives like Khelo India being rolled out. At the same time, sports property rights are hitting a new high year after year. This is a strong evidence of India being a consumption-based growth story, which is so important for overall health of the industry. It is, therefore, highly likely that any sports focused business globally will always have India in the expansion strategy at some point of time,” he told Moneycontrol.

The company has declined to comment on reports that Comcast Corp is preparing a rival all-cash offer for the same Fox assets. The new Fox will house assets including Fox News, Fox Business Network and sports cable networks, the company said.

But given News Corp's past experience, are they in a better position to gain a foothold in the news broadcasting business compared to 15 years ago? Star did help out Republic with distribution and Hotstar tie-up.

“News business in India is deeply fragmented and highly competitive with multiple players across print, TV & digital. To enter into news business and make a difference would need a play across platforms, rich editorial & deeper engagement with consumers. It also needs a whole new revenue model with consumers or brands externally & an operating model transformation in terms of integrated 'Newsroom of the future' internally,” Kalra said.

Murdoch Senior’s decision to sell Fox’s international assets (read: Star India) sent shockwaves worldwide. So was it an indication that he proved a point by showing that he could win anything in any market with his aggressive strategies? Not really, feels Vyas.

“Selling Star India was a compulsion, not a decision,” said Vyas.