Brian Steinberg Senior TV EditorFox Corporation posted a loss in its second fiscal quarter despite seeing healthy gains in revenue from advertising and distributors, citing a decline in the value of unspecified investments.Fox, the owner of the Fox broadcast network and Fox News Channel, said it notched a 9% increase in revenue in the period, collecting $4.44 billion in the period, compared to $4.09 billion a year earlier.
But the company reported a net loss of $85 million, or 15 cents per share, compared with profit of $224 million, or 37 cents a share a year earlier.
Fox said the loss was primarily due to “the change in fair value of the company’s investments” recognized in businesses that are not part of its cable or broadcasting operations.
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