Despite the recession, News Corp.'s U.S. TV operations posted much stronger
earnings Tuesday, with strong cable performance carrying the day.
During the three months ended Sept. 30, the Fox Entertainment Group
(including the company's film studio) posted a 14 percent increase in revenues to $2.3
billion, while operating cash flow jumped 72 percent to $465 million.
Increasing ratings and subscribers at Fox News Channel and FX helped to send cable
revenue up 28 percent while cash flow soared 197 percent.
However, that's somewhat inflated by Fox Sports Networks, which folded in two
networks this year.
Fox Broadcasting almost reversed a sharp loss last year blamed in part on
Despite American Idol: Search for a Superstar, the broadcast network still lost $3 million on $424
million in revenue.
Fox's TV stations enjoyed strong political ad sales (absent last year), helping
revenues jump 30 percent and cash flow 73 percent.
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