News Corp’s “second-fiscal-quarter profit declined 24% from a prior year that included a tax gain, but revenue climbed on improved results at its cable television networks, film and television studios, and satellite services,” Marketwatch says.
Quoting the earnings release:
|Cable Network Programming reported second quarter operating income of $275 million, a $13 million increase over the second quarter a year ago, primarily reflecting increased contributions from the Fox News Channel.”
FNC “reported operating income growth of 25% compared to the second quarter a year ago, primarily from higher affiliate revenues on increased rates and additional subscribers. During the quarter, viewership at FNC was more than 60% higher than its nearest competitor in primetime and was nearly 50% greater on a 24-hour basis, reflecting FNC broadcasting the top five shows in cable news.”