Fox Corp. beat Wall Street estimates in its first full quarter as a stand-alone company, with affiliate revenue and digital licensing powering the performance. Adjusted earnings per share came in a…
. Left behind after that landscape-altering merger were the Fox broadcast network, Fox News, FS1 and a lucrative portfolio of about two dozen local TV stations, many in major markets.
“The strategic rationale for the formation of Fox Corporation, with our unique set of assets, is underscored by our strong Fiscal 2019 operational and financial results,” CEOsaid in the earnings release. “We are strongly positioned as we enter our first full fiscal year.” The quarterly numbers landed on the same day that the Fox broadcast network, under the leadership of entertainment chief Charlie Collier, presented its upcoming shows during the TCA summer press tour in LA.
During his executive session, Collier made the against-conventional-wisdom argument in favor of smaller scale. “We get to determine whether bigger is necessarily better,” he said. The company’s mission, he added, is to “win in a different way.”
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