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Ad Outlook Rosy At News Corp.

Reuters, Tuesday, February 5, 2008 11:30 AM

News Corp. has pushed up its full-year profit outlook and sees no weakness yet in the television advertising market. Peter Chernin, chief operation officer of the parent of the Fox and Fox News networks in the U.S., says that while he knows "there are concerns about the health of the ad market," Fox has "not seen any weakness to date. Pricing remains very strong for both entertainment and sports."

Fears of recession and the 3-month-old strike by Hollywood screenwriters, have raised concerns about advertising spending in the U.S. this year. But unlike rival TV network NBC Universal, which may cancel its May upfront advertising presentations, Fox fully intends to hold them.

Further, the net pulled in about $250 million in TV network ad revenue from Sunday night's broadcast of the Super Bowl, making it "the biggest day in the company's history," according to News Corp. Chief Rupert Murdoch.

Read the whole story at Reuters »

advertising, television

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