Fox revenue rises 2.5 percent
INTERNATIONAL – Rupert Murdoch-controlled Twenty-First Century Fox reported a 2.5 percent rise in quarterly revenue on Wednesday, helped by growth in advertising ahead of the sale of the bulk of its business to Walt Disney Co (DIS.N).
The Los Angeles-based studio and media company said net income attributable to shareholders increased to $1.29 billion or 69 cents per share in the first quarter ended Sept. 30, from $855 million or 46 cents per share a year earlier.
Revenue rose to $7.18 billion from $7.00 billion.
Murdoch agreed in June to sell Fox’s entertainment assets to Walt Disney for $71.3 billion and is nearing completion of the deal after receiving approval from the European Commission this week, subject to the sale by Disney of its interests in some news and documentary channels.
Walt Disney’s $71.3-billion offer to buy Twenty-First Century Fox Inc’s entertainment assets won approval from the European Commission on Tuesday, subject to Disney selling interests in factual TV channels in Europe.