Chernin optimistic on strike settlement; Fox will have upfront


According to LA weekly, News Corp. President Peter Chernin did make it to Super Bowl XLII after all and was telling Hollywood folk that "the strike is over," according to emails coming “fast and furious” out of that venue. But when he spoke with Wall Street analysts yesterday, Chernin was more coy, refusing to declare an end to the strike at hand.

“We are under a press blackout, but I am optimistic. We’re having positive discussions, so I’m optimistic that we will get to some resolution,” Chernin said in News Corporation’s quarterly conference call.

As for any cost savings because of the strike, Chernin said News Corporation executives are examining every part of their business – “although to be honest, we were examining every part of our business before the strike.” But don’t look for Fox to drop its Upfront as some other networks have done or are considering. “I think you are not going to see Fox abandon the Upfront. We believe the Upfront is a valuable way to interact with our advertisers – a valuable platform to interact with our advertisers – and from a marketer point of view, it is a good opportunity for them to plan their spending in advance for the year, so we think it’s a valuable part of the process for both sides,” Chernin said.