




When discussing organic ad revenue growth, Martin said:




News Corp. CEO Rupert Murdoch and COO Chase Carey noted that FNC, along with FX, Fox Sports Net and the other cable networks accounted for 60% of news Corp.’s operating income. As in previous calls, Carey said that FNC is expected to see higher carriage fees than it currently receives.

To be fair, CNN had its most profitable year ever last year, but even then, its profits were likely far lower than what the entertainment channels generated.

In many respects that is what makes Fox News so unusual from a business standpoint. Not only is it profitable, but it is a profit driver for News Corp.

It used to be that news was a money-loser. In the world of cable news, all of the major players are turning a profit, but the ratings leader is also clearly the profit-leader.

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