Fox Posts EBITDA Growth Despite Persistent FX Headwinds; MLB Playoffs Drive Strong U.S. Revenue
Fox posted a mixed fiscal second quarter, as EBITDA came in above our projection but revenue missed slightly due to foreign exchange headwinds and lower international ad revenue at Star due to the demonetization policy in India. While the film studio continues to disappoint, we are pleased with the improved television production efforts including the new series at Nat Geo and FX. As we discussed in our recent Technology Observer, The Stream Less Taken, Fox has reinvigorated its television studio...
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