Fox News Boosts Otherwise Dismal Q3 for News Corp.

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By Chris Ariens Comments

News Corp. Chairman and CEO Rupert Murdoch singles out Fox News Channel in the company’s third quarter earnings report, released after the closing bell today. “Our Cable Network Programming segment showed remarkable growth, led by the FOX News Channel which nearly doubled its operating income over the year ago quarter,” said Murdoch. From the release:

The FOX News Channel (FNC) almost doubled its operating income versus the third quarter a year ago, primarily from increased affiliate revenues on higher rates. In the quarter ended March 31, 2009, FNC primetime ratings were up 23% compared with the same period a year ago.

Overall, News Corp. had an operating income of $755 million, down 47% from Q3 ’08.