SBD/Morning Buzz

Cable Channels Driving News Corp.'s Profits In Most Recent Quarter

News Corp. reported a 4% increase in Q3 operating income to $1.36B, “fueled by the strength of its cable channels and retransmission fees at Fox Broadcasting.” Net income climbed to $2.85B, compared to $937M in the year-ago period. Revenue increased 14% to $9.54B.

The upcoming launch of Fox Sports 1 has “garnered attention from Wall Street analysts who expect it to compete with ESPN.” News Corp. COO Chase Carey said that sports “were the ‘driving force’ behind the company’s channels business,” but added that sports “should not ‘cloud the importance’ of Fox News, FX and other channels” (N.Y. TIMES, 5/9).
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug