Fox News Reports Highest Ever Quarterly Profit

By kevin 

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(The “Fox & Friends” team got turned blue to celebrate the release of the “Avatar” DVD on Earth Day.)

News Corp., which saw a big boost from “Avatar,” released its earnings for the quarter ending March 31, and reports indicate that Fox News recorded its highest ever quarterly profit.

The New York Times’ Joseph Plambeck reports that FNC increased its operating income 31% against last year, “largely from improved advertising revenue and rate increases from its affiliates.” More from SMH:

The company’s cable television properties booked a 38 per cent lift in operating income to $588 million, highlighted by the continued success of the Fox News Channel (FNC).

Overall, News Corp. reported revenue of $8.79 billion and operating income of $839 million, topping earlier estimates, thanks, in part, to the success of “Avatar,” which has earned $2.7 billion worldwide.

• FishbowlNY has more details on the other segments of News Corp’s earnings.