Tuesday, 21 November, 2017

Trump cast as the cable guy as 21st Century Fox lifts profits

Logan Movie If Disney ends us buying Fox, it'll rapidly increase the Marvel Cinematic Universe
Kayla Schwartz | 09 November, 2017, 03:23

Then the two executives painted a business-as-usual picture.

James Murdoch emphasized the company's work to gain regulatory approval in Britain for its acquisition of Sky, the pay-TV giant.

Mr Murdoch would not address that possibility directly but he said the firm is well-positioned now.

Lachlan Murdoch dismissed the idea that the company is not big enough to compete in a shifting media landscape. "Let me be very clear".

Fox CEO James Murdoch reinforced that message, but when pressed by analysts both Murdochs emphasised the company's commitment to long-term growth and execution of the core film and TV businesses.

Fox said revenue rose to $7.00 billion in the quarter ended September 30, higher than the $6.51 billion a year earlier and the $6.81 billion analysts were expecting, according to Thomson Reuters I/B/E/S. The stock remained flat in after-hours trading.

Syrian army, allies, take last IS stronghold in Syria-commander
The extremist group's self-styled caliphate is all but gone, but it is expected to continue inspiring and carrying out attacks. However, Iraqi fighter jets have repeatedly launched air raids on Daesh strongholds on both sides of the Syrian border.

Net income attributable to shareholders increased to $855 million, or 46 cents per share, from $821 million, or 44 cents per share.

As usual, most of 21st Century Fox's quarterly profit came from its cable networks division, which includes mature channels like FX and newer arrivals like Fox Sports 1.

Domestic advertising revenue in the cable business rose 3 percent.

Revenue at Fox's filmed entertainment division rose 3 percent to $1.96 billion, edging past analysts estimate of $1.95 billion, according to FactSet.

That's because the financial results come at a crucial time for the conglomerate controlled by Rupert Murdoch and sons, as news has spread that the Murdoch family might be interested in selling the Fox film studio and many other assets to the Walt Disney Co. for roughly $20 billion. Higher sports programming costs and lower political-related advertising were the primary reasons for the decline. But they gave a vote of confidence in the company's brands and management team, clearly aimed at calming any internal fears that a for-sale sign might be in front of the 21st Century Fox lot on Pico Boulevard in Los Angeles. The company's studio had one major release in the quarter, "War for the Planet of the Apes", which took in $489.6 million worldwide - 30 percent less than its predecessor, "Dawn of the Planet of the Apes", collected in 2014. Operating income, though, fell significantly, from $191 million to $122 million in the segment.

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