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Fox Q3 Results: Cable Networks, Including RSNs, Drive Up Revenue

Cable networks "powered revenue and adjusted profit growth" for 21st Century Fox in Q3 as "increases in subscription fees and ad dollars offset higher programming expenses." The company’s cable network division "continued to log solid revenue growth," rising 9.8% to $3.94B. Carriage payments from pay-TV providers increased 7% while "higher ratings at Fox News" and NBA coverage by Fox' RSNs "helped drive up ad sales 17%." At the broadcast TV unit, revenue was up 5% "due to higher carriage fees and political advertising" (WSJ.com, 5/4).

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