21st Century Fox announces first results

21st Century Fox announces first results
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The newly demerged 21st Century Fox company has recorded a 9% growth in segment operating income for the year, just six weeks after completing its split with News Corporation.

Operating income for the company made up mostly of the TV and entertainment assets from the Murdoch empire, rose to US$6.26bn before depreciation and amortization for the financial year on revenue of $27.68bn.

All of the Australian assets, including pay-TV operator Foxtel, are held in the News Corp side of the business.

In a statement to the Australian Securities Exchange Rupert Murdoch, the company chairman and CEO, said: “Although a significant amount of time and effort was spent over the past 12 moths on this separation, we never lost focus on the operations of our businesses.

“As a result of these advances, 21st Century Fox is poised to deliver continued innovation for our customers as well as sustained growth and long-term value for stockholders.” 

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