21st Century Fox announces first results

21st Century Fox announces first results

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.

B&T Magazine
Posted by B&T Magazine

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.”