News Corp Earnings: FNC Reports 64% Operating Income Growth

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By Brian 

newscorpnov10.jpgNews Corp. reported its first quarter earnings today. Check the Google News wire for details. Fox News helped raise the company’s revenue:

> Press release: “Fox News Channel (FNC) reported operating income growth of 64% for the first quarter as strong revenue growth, primarily from increased advertising, more than offset higher costs associated with covering hurricanes Katrina and Rita. Viewership in the quarter was up 31% in primetime and 30% on a 24-hour basis despite coverage of the Democratic and Republican National Conventions a year ago.”

> Bloomberg: “Higher sales at the company’s cable-television networks including Fox News Channel and FX outweighed higher programming costs for local sports and news at News Corp.’s 35 Fox television stations.”

> FT: “…Revenue rose 10 percent on the back of significant advertising gains from Fox News and the group’s movie studio.”