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Quick Hits

Fox’s Disney Bump

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November 03, 2020 | 06:20 pm
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Ron Chenoy-USA TODAY Sports

Fox Corp. revenue increased to $2.72 billion in its most recent quarter, up 2% year-over-year. A $462 million payment from Disney for a previous sale of cable and studio assets helped boost income to $1.11 billion, up from $499 million the same quarter last year.

A thinner slate of NFL and college football games, however, contributed to Fox’s broadcast network ad revenue falling 15% year-over-year. Renewed ad spending and a now-full sports schedule are expected to reverse the trend in the upcoming quarter.

CEO Lachlan Murdoch said Fox has an option to buy a piece of FanDuel, which is owned by Flutter Entertainment. Fox and Flutter are partners in the Fox Bet sports betting platform.

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