21st Century Fox set to produce last results before the big split
Rupert Murdoch’s new 21st Century Fox is expected today to report higher profits on lower fourth-quarter revenue, double-digit gains in domestic advertising and affiliate fees for its pay-TV networks. These gains will offset ratings struggles at Fox broadcasting, said International Business Times.
Rupert Murdoch: The big split
The report is the last of the combined company before the big split into print media and enyertainment.
The media giant , formerly known as News Corp. is expected to report net income of $788.7 million, or 35 cents per share, for the period ended June 30, up 7.7 percent from $783 million, or 32 cents per share, a year earlier. Analysts polled by Thomson Reuters expect revenue to fall 14.9 percent to $7.12 billion from $8.37 billion last year.
21st Century Fox will report results after U.S. markets close. It’s the final earnings report for the combined company, which spun off its publishing segment into a separate publicly traded company on July 1.
The publishing company has retained the name News Corp. Murdoch serves as chairman of both companies and CEO of 21st Century Fox. "Analysts overwhelmingly believe the separation will leave 21st Century Fox nimbler and more appealing to investors in the long term," said IBT.