News Corp. chief operating officer Chase Carey said the company is about to get a windfall of retransmission-consent revenue that could be one element in fixing the currently broken economic model for broadcasting, Multichannel News reports.

Carey told investors that the company has two completed retrans deals for its owned-and-operated stations, with eight of the top 10 distributors to go. Without going into details, he called one of the deals, with Time Warner Cable, a "transformational event,” Multichannel reports.

The revenues from retransmission consent could turn the tide in the broadcasting business if coupled with a well-run network, Carey said.

–Elizabeth Jensen