Consolidated Media has suffered a slight profit decline as tough retail conditions continue to hurt earnings.
Net profit after tax for the six months to the end of December 2011 declined 2% on the previous corresponding period to $44.3m.
"The decline half-on-half is largely attributable to lower interest income received in first half of 2012 ($2m versus $4.1m in first half 2011)," the company said.
Foxtel's contribution of $19.7m was up $0.5m on first half 2011 ($19.2m).
Premier Media Group's contribution of $25.8m was down $0.4m on first half 2011 ($26.2m), the decline due to a sightly higher effective tax rate being applied.
"The retail environment continues to be extremely challenging, and the trends we saw last year in respect of subdued consumer spending and general negative sentiment were present again this half."
"In spite of what continues to be very challenging retail environment and general economic uncertainty, the combined results of our investments this half of $45.6m was solid and improved slightly on the first half 2011 ($45.4m)," the company said.