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Lachlan Murdoch Sees Momentum Building At Fox News & Stations As Political Cycle Heats Up
Fox Corp. posted slightly higher sales with quarterly advertising revenue flat. Tubi and sports were standouts with strong momentum at Fox News.
Fox this morning posted a mixed fiscal fourth quarter with total sales of $3.09 billion for the three months ended in June, up 2% from the year before and about in line with Wall Street estimates. “Fiscal 2024 was another successful year for FOX with very clear achievements across our portfolio, including delivering strong total company affiliate revenue growth each quarter from our ongoing renewals, cementing Tubi’s position as the most watched free TV and movie streaming service in the United States, and generating reinvigorated ratings and share growth at FOX News,” said Murdoch. Patriarch Rupert Murdoch is trying to settle succession and had Lachlan control of the family business, alienating his three other children, who were promised a vote in a so-called irrevocable trust that he’s trying to undo in probate court.
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