Fox News Channel’s status as the #1 news channel is paying off for parent News Corp. The company released fourth quarter and fiscal year earnings Wednesday. FNC reported operating income growth of 41% for the fourth quarter, and 33% for the full year.
The company says the revenue growth comes “primarily from increased affiliate rates.” But, also driving growth: higher advertising revenue and additional volume as ratings increased. The News Corp. statement says “FNC’s viewership was over 75% higher than its nearest competitor in primetime and nearly 60% higher on a 24-hour basis.”
Also, Forbes reports on Rupert Murdoch‘s conference call related to the earnings reports. On the CNBC/WSJ partnership: Murdoch says it “is an obstacle,” then adds, “we still think there are plenty of opportunities for Dow Jones and [FBN] to mutually benefit.”