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Feb 4, 2025
Fox reported Tuesday a 20% boost in revenue to $5.1 billion for its fiscal second quarter that ran from October to December 2024, while net income more than doubled to $388 million. It was the second straight robust period for Fox following a strong first quarter, and while political advertising surrounding the election was critical, sports remains a core underpinning for the entire company.
Murdoch said the lone sports disappointment for Fox during the quarter was the abrupt demise of Venu Sports, the sports-oriented streaming service developed in partnership with ESPN and Warner Bros. Discovery. The shuttering arrived just days after ESPN parent company Disney reached a deal to acquire a majority stake in Fubo, which had legally challenged the formation of Venu Sports.
The current quarter for Fox, of course, will be highlighted by Sunday’s Super Bowl LIX in New Orleans, to be shown by the network. There already have been boosts from expanded measurement methodology from Nielsen, and ad sales that in some instances have reached an unprecedented $8 million per 30-second unit.
Source: Front Office Sports