News Corp. revenues fell after attacks


News Corp. reported consolidated revenues of $3.4 billion and operating
income of $362 million for the first fiscal quarter ended September 30, 2001,
versus revenues of $3.24 billion and operating income of $390 million of a year

TV stations increase market share by more than 10%. But overall television revenues were down to $52 million from $83 million for the same quarter one year ago, due to the weak ad market and the after-effects of the September 11th terrorist attacks.

Cable network programming's overall operating income down $7 million due primarily to the impact of the September 11th attacks.

News Corp. and Haim Saban sold Fox Family Worldwide to Walt Disney Co. for approximately $5.2 billion, including the assumption of Fox Family debt. And the company completed its acquisition of 10 Chris-Craft stations, for a net cash outflow of approximately $467 million.

On the European front, BSkyB completes its digital conversion; revenue and EBITDA growth of 24% and 33%, respectively, fueled by 35% increase in digital DTH subscriber base. BSkyB now claims 5.5 million DTH subs.
- Richard Tedesco