Fox News Had Highest Quarterly Profit In Their History
Fox News got a shout-out again in the News Corp. earnings report, out today. The network didn’t just have its best ratings ever in the last quarter, they also had their highest profit.
News Corp. CEO Rupert Murdoch was on FNC’s Your World today to talk about the news and other stories.
Here’s the Fox News section of the News Corp. earnings report:
Cable Network Programming reported strong third quarter segment operating income of $588 million, an increase of $162 million over the third quarter a year ago. This 38% growth primarily reflects double-digit contribution increases from the FOX News Channel (FNC), the Regional Sports Networks (RSNs), FX, the Fox International Channels and STAR.
FNC achieved its highest ever quarterly profit, increasing its operating income 31% over the third quarter a year ago primarily from affiliate revenue rate increases and higher advertising revenue while maintaining its cost base. Viewership at FNC was at its highest level ever during the quarter with ratings 188% greater than its nearest competitor in prime-time and 157% higher on a 24-hour basis. For the second consecutive quarter, FNC had the top thirteen shows in all cable news.
Murdoch was a guest on Your World, and the interview re-airs at 6pmET on Fox Business Network and Cavuto’s other show. He was first asked about the earnings. “I wish they were always like that,” he said. “But, you know, we’re comparing with a pretty bad year.”
As for Fox News, he briefly touched on White House relations:
Very good. I was down there on Saturday at the White House Correspondents Dinner and I had very friendly word with several of the staff there…I’m sure they don’t like Fox News, of course, or The Wall Street Journal, but we have a very civil, personal relationship.
Here’s video:
