‘Fantastic Four’ flop blamed for 21st Century Fox missing revenue targets

Broadcast TV revenue was essentially flat year over year. Cable networks businesses helped ease some of the box office burden, which is where Executive Chairman Rupert Murdoch began his remarks.

“Our cable networks business generated strong growth in the first fiscal quarter, delivering double-digit earnings gains both domestically and internationally on sustained increases in overall affiliate fees, higher advertising revenues and lower expenses. Our quarterly results also reflect the expected impact of challenging comparisons for our film studio due to the timing of key releases, as well as the poor performance of ‘The Fantastic Four,’” he stated.