Video Helps Fox Entertainment's Q314 May, 2003 By: Joan Villa
Robust home entertainment sales of Ice Age and other titles, along with growth in television broadcast and cable network segments, helped drive Fox Entertainment Group third quarter revenues up 9 percent to $2.7 billion over the prior year quarter.
The filmed entertainment segment's EBITDA (earnings before interest, taxes, depreciation and amortization) surged 22 percent to $220 million over last year, driven by worldwide revenues from Ice Age and strong domestic returns from Brown Sugar, One Hour Photo, Swimfan and The Banger Sisters, the studio reported.
20th Century Fox Television also returned higher sales as a result of “continued momentum” in home entertainment sales of “The Simpsons” and “Buffy the Vampire Slayer” as well as syndication profits from “The X-Files” and “Dharma & Greg,” the company said.
"We are extremely pleased with our third quarter results, which continued the financial and operating momentum we achieved throughout the first half of the fiscal year,” commented chairman and CEO Rupert Murdoch. “Revenue and EBITDA growth of 9 percent and 39 percent, respectively, despite the economic impact of the war in Iraq, speaks to the underlying strength of our core assets.”