Fox News Channel played a leading role in 21st Century Fox increasing its revenue by 7 percent last quarter.
On the earnings call Wednesday afternoon, 21CF executive chairman Lachlan Murdoch said Fox News “has never been stronger amidst an intense election season.” Murdoch, whose father Rupert Murdoch took the reins as Fox News and Fox Business executive chairman over the summer, recognized one of the network’s stars. “We have to give a shout-out to Chris Wallace‘s superb debate performance, which notably received kudos on both side of the aisle,” Lachlan Murdoch said.
Cable Network Programming income, which includes Fox News, saw a 10 percent revenue increase, which was offset by a 12 percent increase in expenses, due in part to Major League Baseball rights (though the company will have a good ratings and revenue story to tell after last night’s Game 7 of the World Series.) Ad revenue at the cable networks was up 6 percent mostly because of the higher ratings and ad rates at Fox News.