Sutton Denies Censoring Fan Forum UK Sport Rejects Seven Funding Appeals SANZAAR To Discuss Future Of Super Rugby PSL Final To Be Held In Lahore French Ski Companies Win Chinese Deals Executive Transactions Royal St. George's To Host 2020 Open Mercedes F1 Re-Signs Wolff, Lauda Sauber F1 Builds New Car For '17 Grupo Multimedios Acquires 50% Stake
SBD Global/February 7, 2014/FinancePrint All
Gains at 21st Century Fox's cable networks were "offset by declines" in its movie, broadcast and direct-broadcast satellite businesses during its second fiscal quarter, according to Jon Lafayette of BROADCASTING CABLE. Net income fell 50% to $1.2B, or 53 cents a share, from $2.4B, or $1.01 a share a year ago, "as expenses associated with acquisitions and consolidations added red ink." 21st Century Fox's cable network programming group's operating income rose 2% to $1.04B. Profit growth "was held down by a 22% increase in expenses as the company launched new channels including Fox Sports 1, FXX and Star Sports in India." Revenues were up 14% to $3B. Domestic affiliate growth "was up 15%, led by gains at the regional sports networks and FX" (BROADCASTING CABLE, 2/6).