Buoyed by a strong quarter that was in part fueled by higher affiliate fees, Fox News Channel parent News Corp. said carriage agreements for the popular news channel begin to roll off at the end of the year and hinted that renewal agreements could cost distributors.
Fox News led a strong fiscal third quarter for News Corp., with operating income at the channel up 31%. The news channel was the primary driver for a 38% gain in operating income for News Corp.’s cable network division. Overall advertising sales were up 19% and affiliate fee revenue climbed 16% in the quarter.
Fox News recently completed the bulk of its carriage renewal deals with distributors, a process that began about four years ago. More…