21st Century Fox Discusses a Deal With Sky, but Not Disney

21st Century Fox Discusses a Deal With Sky, but Not Disney

"We operate these businesses to build them and to grow, and we will continue to do that".

Lachlan Murdoch also addressed his company's size.

Fox leaders said they still hope to see that deal completed by mid-2018.

Lachlan Murdoch, though, said at the top of a conference call with analysts that executives would "not be responding, at all, to recent press speculation". "Let me be very clear".

After markets closed Wednesday, 21st Century Fox reported revenue of $7 billion and earnings of 49 cents a share for the three months ending September 30, which the entertainment conglomerate categorizes as its fiscal first quarter.

Fox said revenue rose to $7.00 billion in the quarter ended September 30, higher than the $6.51 billion a year earlier and the $6.81 billion analysts were expecting, according to Thomson Reuters I/B/E/S. Disney stock is trading at $101.63 and is down 5.07% for the year.

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Net income attributable to shareholders increased to $855 million, or 46 cents per share, from $821 million, or 44 cents per share. Revenue rose 8 percent, to $7 billion.

President Trump's regular appearances on Fox News appeared to boost the fortunes of 21st Century Fox's cable TV division in the past quarter, helping the company to report improved profit and revenue across the business. Domestic advertising revenue in the division, which includes the Fox News and National Geographic channels, rose by 3 per cent as overall revenue rose to $4.2 billion, from $3.8 billion a year ago, ahead of analysts' estimates.

The Wall Street Journal brings word that Disney's pursuit of 21st Century Fox and its entertainment assets means that The Defenders, The Punisher, and other Marvel-themed series may be relocated to the company's in-house streaming platform when it launches in 2019. Higher sports programming costs and lower political-related advertising were the primary reasons for the decline.

Disney reportedly held discussions with 21st Century Fox to buy a portion of its assets. The company's studio had one major release in the quarter, "War for the Planet of the Apes", which took in $489.6 million worldwide - 30 percent less than its predecessor, "Dawn of the Planet of the Apes", collected in 2014.

The filmed entertainment unit also faced tough year-over-year comps with operating income dropping 18 per cent to $US256 million ($A358 million).

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