21st Century Fox
- Total Nominations: 11
- Best Picture Nominee: 12 Years a Slave
- FOX Stock: Thumbs up, thumbs down
There’s both good and bad news on the Fox front. On one hand, the broadcasting and cable television giant reported a jump in revenue in the fourth quarter, mainly due to satellite TV business. Its profit of $1.25 billion, or 54 cents a share was a drop from the $2.23 billion, or 94 cents a share it earned a year earlier, pared by expenses for cable business startups.
Investors are tuned in to the company’s long-term prospects in its lucrative sports and cable network shows. Advertising revenue rose 7% in the fourth-quarter to beat out rivals Viacom (VIAB) and Time Warner thanks to double-digit growth at FX networks, Fox Sports 1 and regional networks.
Fox recently boosted its sports presence further by taking an 80% stake in the YES Network, a regional sports channel focused on the New York Yankees baseball team.
While 12 Years as a Slave earned rave reviews, it wasn’t a huge money-maker. Overall, Fox’s filmed entertainment segment saw a 21% drop in revenue for the fourth quarter.
Written by Karen Ricci