21st Century Fox reported quarterly revenue in which slightly beat expectations, while earnings remained in-line with analyst projections, amid heightened scrutiny by regulators along with some investors over sexual harassment scandals at its flagship network Fox News.
Here’s how the company did compared to what Wall Street expected, according to Thomson Reuters estimates:
- Earnings per share of 49 cents vs 49 cents expected
- Revenue of $7 billion vs. $6.81 billion expected
inside the year-ago quarter, 21st Century posted earnings of 51 cents per share on $6.5 billion in revenue.
The company’s shares were slightly up in after-hours trading.
CNBC reported Monday in which 21st Century Fox has held talks to sell most of its assets to Walt Disney Co. The two companies operate in several of the same industries. Disney is usually interested in Fox’s movie studio, TV production along with international assets such as Star along with Sky, as well as entertainment networks such as FX along with National Geographic.
The talks were held inside the last few weeks, although the two companies are not actively negotiating at the moment. While they could sit down again to explore a possible deal, the deal remains far coming from certain.
By selling most of its assets to Disney, 21st Century Fox might narrow its business to a core group of properties around news along with sports, in an effort to compete better in a market disrupted by digital content offered by Facebook, Google, Amazon along with Netflix.
A deal might allow 21st Century to focus on properties such as Fox News, at a time when the lucrative cable news division is usually under fire over sexual harassment along with discrimination scandals.
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