By Jill Goldsmith Fox revenue looked a bit like a fairy tale last quarter – a 44% jump in ad sales even with the coronavirus nipping – but the page turns in the current quarter as company executives anticipate local station advertising will fall 50% year-on-year.
The fiscal fourth quarter ending in June will see dips in local auto, retail and travel along with a trough in political advertising, which, however, will pick up dramatically in the first quarter.
Fox has a June fiscal year. Including national advertising, the collective revenue hit this quarter will be an estimated $200 million-$240 million, down about 25%-30% from the prior year, said CEO Lachlan Murdoch on a conference call to discuss Fox’s latest financial results. “We
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