Affiliate Fees Help Fox Eke Out Q4 Profit Despite Ad Declines
variety.comBrian Steinberg Senior TV Editor Fox Corp. relied more heavily on its ability to drive revenue from the transmission of the Fox broadcast network and its Fox stations, as it grappled with downturns in advertising during its fiscal fourth quarter.
The owner of Fox News, Fox Sports and the Fox broadcast network said it generated profit of $375 million, or 74 cents per share, compared with $306 million, or 55 per share in the year-earlier period.
Excluding one time items, Fox reported adjusted earnings of $443 million or 88 cents per share. Revenue was basically flat, standing at about $3.03 billion.
Affiliate fees increased to about $1.77 billion, compared with nearly $1.73 billion in the year-earlier period. Advertising, meanwhile, fell to $1.008 billion.
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