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Election night is Fox News Channel’s “Super Bowl,” the network’s svp of news and politics Alan Komissaroff recently told Adweek, but the lead-up to Election Day has been a cash cow for parent company Fox Corp. In the media company’s most recent quarter, millions in political advertising and sky-high ratings on cable helped offset the Covid-19-related losses that have been battering the TV industry.
In Fox Corp.’s quarterly earnings announced this morning, cable network programming—which includes Fox News and Fox Business along with sports channels like FS1—reported revenue of $1.3