Reuters’ Robert MacMillan is another in the long list of reporters to write about Fox News’ ratings success in the first quarter of 2009. But MacMillan looks at what it means for FNC’s parent company, News Corp, which has been “hammered” by the market recently.
Fox News is part of News Corp’s cable division, one of the company’s strongest performing units. It is the third-largest segment by revenue and its largest in operating income, based on first-quarter results.
In the fiscal second quarter that ended in December, cable unit operating income rose 27 percent to $428 million on nearly $1.4 billion in revenue. News Corp does not say how much of that is because of the Fox News Channel, but it is easily the most high-profile part of that unit.