Wednesday, May 04, 2005
FNC Operating Income Up 45%
Source: Business Wire News Corporation Reports Third Quarter Operating Income of $889 Million; Growth of 9% over Third Quarter a Year Ago; Revenues Increase 17% to $6.0 Billion.
Fox News Channel (FNC) reported operating income growth of 45% compared to the third quarter a year ago fueled primarily by double-digit advertising revenue growth which was partially offset by higher costs associated with covering international breaking news stories. Viewership during the quarter was up 15% in primetime and 5% on a 24-hour basis and for the fourth consecutive quarter FNC had more total viewers than CNN, MSNBC, Headline News and CNBC combined.
Earlier today CNN parent company Time Warner announced," Revenues rose 3 percent to $10.48 billion from $10.19 billion, led by gains in the company's cable networks division, which includes CNN, HBO and TNT, its magazine and book publishing business, and in cable TV." See related post.
# posted by ATN @ 4:42 PM 
