Fox said it expects the return of live sports and entertainment events will continue to propel its growth
Fox Corp. , parent of Fox News and the Fox broadcast network, said revenue rose in the latest quarter, as the company expects the return of live sports and entertainment events will continue to propel its growth.Revenue at Fox’s cable programming, which also includes the Fox Business Network and Fox Sports channel as well as Fox News, was $1.4 billion.
Revenue in the TV station unit rose 30% from a year ago to $1.45 billion on higher advertising sales as local markets recovered with a swath of the economy reopening from coronavirus-related restrictions a year earlier. Profit rose to $253 million in the June quarter, or 43 cents a share, from $122 million, or 20 cents a share, a year earlier.
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