Global Showbiz Briefs: News Corp Spinoff, ‘Homeland’ Vs. Beirut, Joe Wright On West End, Josh Berger, ‘The Audience’ In Canada

News’ Publishing Co. Valued at $10.2B by Australian Broker
After News Corp. splits in two next year, the publishing company will be worth $A10.2B assuming it’s debt-free, according to Australian broker CBA. That’s a much higher valuation than earlier estimates due to the $2B acquisition of Australia’s Consolidated Media Holdings, which gives News full ownership of Fox Sports channels and boosts its stake in pay-TV platform Foxtel. The publishing company, which will house Foxtel, its 61% stake in and 44% of Sky New Zealand, will derive 75% of its pre-tax earnings from Australia, the broker said. It predicts Foxtel and Fox Sports will account for 46% of that unit’s pre-tax earnings in fiscal 2014, with newspapers and HarperCollins contributing 37%. CBA expects News to focus on lifting U.S. investors’ awareness of the non-publishing assets’ strong cash flow, probably involving a global roadshow next year. It values the entertainment company at $54.6B with an earnings margin of around 21%, close to Disney’s but much lower than Discovery’s. It assumes News’ net debt of $5.4B will be shouldered by the entertainment arm. -Don Groves

Lebanon Takes Issue With Its Image In ‘Homeland
Lebanon is considering legal action against the award-winning American TV series Homeland for its portrayal of Beirut as a city riven with terrorists. In the second episode of the second season of the CIA thriller, shown on the UK’s Channel 4, millions of viewers watched the protagonists hunt terrorists through the narrow, dirty and dangerous streets of Beirut. But Lebanon’s minister of tourism Fady Abboud expressed outrage at the “serious misrepresentation” of the city, which once was considered the Paris of the Middle East. “I raised this at the cabinet meeting and the president asked the minister for justice and the minister of communications to see what can be done.” Abboud added “I am calling on all young Lebanese adults to do what they need to do; to write blogs, to call the BBC and CNN to try to raise awareness that Beirut is not a city of Kalashnikov and war.” In the show, Claire Danes’ character continuously dons the hijab, but women in the part of Beirut where the scene is set are more often seen in skin-tight jeans, bouffant hairdoes and Jimmy Choos. Abbout urges Lebanese “youths to splice images of the war-torn Hamra of Homeland with the real street.”

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