Fox Corp. said it swung to a $50 million loss last quarter from a $290 million profit the year before mostly due to the cost of a legal settlement with Dominion Voting Services. Sales jumped 18% la…
strike, although analysts say Fox may be relatively less impacted than other legacy media companies given that it leans more into unscripted content. The strike now in its second week hit just ahead of upfront presentations is impacting the fall television season. Picket lines on both coasts have paused production on a various shows.
Television reported quarterly segment revenues of $2.48 billion, an increase of $655 million or 36% Advertising revenues increased $590 million or 61%, primarily due to the broadcast of Super Bowl LVII and a higher volume of NFL games at Fox Sports, as well as continued growth at Tubi. Affiliate fee revenues increased $64 million or 9% led by higher rates at both the company’s owned and operated stations and third-party Fox affiliates. Ebtida in television rose by $82 million from $117 million.
Cable Network Programming reported quarterly segment revenues of $1.57 billion as compared to $1.58 billion. Affiliate fee revenues were broadly consistent with the prior year quarter as the impact of net subscriber declines was nearly offset by contractual price increases.
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