Brian Steinberg Senior TV EditorFox Corporation said profit rose in its fourth fiscal quarter as advertisers ramped up spending as conditions of the coronavirus pandemic eased and it secured new revenue from distributors.
But the company’s overall cash flow was crimped by fees for a wider range of sports events as well as investment in Tubi, its ad-supported streaming video outlet, and digital outlets at Fox News Media.The owner of Fox News Channel, the Fox broadcast network and Fox Sports said net income came to $253 million, or 43 cents per share, compared with $122 million, or 20 cents per share in the year-earlier period.
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