Stone fox john gardiner5/20/2023 ![]() ![]() ![]() “Our decision is clearly in the best interest of the company and its shareholders. “We made the business decision to resolve this dispute and avoid the acrimony of a divisive trial and a multiyear appeals process,” Fox CEO Lachlan Murdoch said on the company’s earnings call. Had it not been for the settlement, an increase in both distribution and advertising revenue would have given Fox a healthy profit in the quarter. ![]() “During the quarter we booked an $850 million charge in Other, net in relation to the Fox News Media defamation cases, reflecting all incurred and estimable costs at this time,” a Fox spokesperson said.ĭespite the legal issues, Fox’s broadcast of the Super Bowl in the quarter saw the company’s advertising revenue rise by 43 percent to $1.86 billion, with total revenues in the quarter of $4.08 billion. ITV Posts Ad Revenue Drop of 10 Percent in First Quarter, Sees Second Quarter Down 12 Percent ![]()
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