Home Entertainment Sparks Bumper News Corp. Q411 Aug, 2005 By: Erik Gruenwedel
News Corp. president Peter Chernin this week downplayed a slumping theatrical box office by lauding a more than 30 percent increase in unit 20th Century Fox Home Entertainment's revenue for the fourth quarter (ended June 30) compared to the same period last year.
Sales of titles Alien vs. Predator, Academy Award winner Sideways, Napoleon Dynamite and Ice Age, among others, helped News Corp. post quarterly net income of $717 million, or 22 cents per diluted share, on consolidated revenue of $6.1 billion.
The media conglomerate reported net income of $429 million, or 15 cents per diluted share, on consolidated revenue of $5.5 billion during the same period last year.
Filmed entertainment revenue, which includes home entertainment, was up 14 percent, to $109 million, from $95 million last year.
News Corp. chairman and CEO Rupert Murdoch said home entertainment sales were up 39 percent in the first half of 2005.