Fox's Cable TV Revenue Flat Amid Subscriber Decline, Political Ads Higher

Sinking subscribers at Fox Corp. cable TV networks resulted in cable TV revenues that were flat overall for its most recent quarterly period -- up 1% to $1.43 billion.

Affiliate fees at its networks -- including those at Fox News Media, which includes Fox News Channel and Fox Business -- were at $1.029 billion -- up just $3 million.

Advertising at those cable networks did better -- up 5% to $316 million.

Fox News Media had higher linear pricing but lower ratings and digital advertising revenues.

For its national TV sports networks, ad revenue was lower. There were unfavorable comparisons in the year-earlier period due to strong viewing of international soccer matches.

"Other" revenues for its cable business grew 9% to $7 million due to higher Fox Nation subscription revenues.

Fox's Television unit -- including Fox Television Network and its Fox TV stations -- had revenues up 8% to $1.71 billion, largely due to higher political advertising revenue at the Fox Television Stations.



Overall ad revenue rose 11% to $905 million, which included ad growth at its free, ad-supported streaming platform, Tubi.

Fox's Television unit had 6% higher affiliate fee revenues to $682 million from third-party Fox affiliates and higher average rates.

Overall, Fox revenue was up 5% to $3.19 billion, while net income sank 13% to $613 million.

Fox recently disclosed possible re-merger discussions with News Corp.

News Corp was founded in 2013, after its split with then 21st Century Fox. News Corp's business focus is print and digital publishing and services.

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