American Idol was enough to overcome Fox Broadcasting Co.’s broader ratings issues and boost the company’s financial results. During News Corp.’s fourth fiscal quarter ended June 30, Fox combined stations and broadcast network increased sales 9% to $1.3 billion but operating income rose 21% to $351 million.
Fox was fuzzy on how its TV stations compared to the network, but it did say the stations increased profits by 15%. Cable network revenues grew a meager 5% to $702 million, but profits jumped 60%. That increase, however, is inflated because Fox Cable sold the Los Angeles Dodgers and no longer has to carry the team’s losses.