• by Wayne Friedman , November 2, 2023

Lower political advertising at Fox TV stations, and weak sales from Fox News Media direct-response advertisers, pushed down advertising revenues at Fox Corp. 2% in the third quarter to $1.2 billion.

Overall cable TV advertising revenue was down 8% to $290 million. 

The company says while Fox News Media had issues with direct response advertising it did see higher national pricing for its commercials at those networks -- which includes Fox News Channel and Fox Business.

Advertising revenues at its television unit -- which includes the Fox Television Network, Fox TV stations, and Tubi -- grew 1% to $735 million, and there was also growth in the Women’s World Cup on Fox Sports and at Tubi.

Company-wide affiliate fee revenue inched up 1% to $1.74 billion.

Overall, Fox revenue inched up just under 1% to $3.21 billion, with net income falling 32% to $415 million.

Mid-day Thursday trading of Fox Corp. stock price was 2.3% to $28.55.