Business

Nov 9, 2017

How the Murdoch sons handled merger gossip during September quarterly briefing

Lachlan and James Murdoch presented a po-faced denial that anything is changing at Fox.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

Lachlan, Rupert and James Murdoch
Lachlan, Rupert and James Murdoch

Nobody cared about 21st Century Fox’s September quarter financial results at 8:30 am Sydney time today -- all the analysts wanted to talk about was merger, deal, sale and will it happen? In what turned out to be a miserly 30 minute telephone briefing, they got zilch as the Murdoch sons pulled up the drawbridge of communication.

Fox reported solid third-quarter results, with revenue climbing 8% to US$7 billion, ahead of Wall Street estimates, and adjusted net was 49 cents a share, down from 51 cents in the year-ago period with net profit for the quarter of US$920 million, up from US$888 million.

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