Lack Of Super Bowl Hurts News Corp. TV Rev

News Corp. on Wednesday reported fiscal third quarter revenue for its Television segment of $1.2 billion, down 14.3% from $1.4 billion in the year-earlier quarter.

The segment had operating income of $171 million, a decrease of $21 million versus the same period a year ago. The company said the decline principally reflects the absence of advertising revenues and operating profit generated from the broadcast of the National Football League Super Bowl XLV in the prior year quarter.

This decline was partially offset by a doubling of retransmission consent revenues.

Excluding the absence of the Super Bowl, advertising revenues at the television stations and broadcast network were essentially in line with amounts reported in the prior year as higher national advertising pricing was offset by lower ratings, driven by declines at American Idol, now in its 11th season.

Cable Network Programming reported third quarter segment operating income of $846 million, a $111 million or 15% increase over the third quarter a year ago, driven by a 16% increase in revenue, partially offset by a 17% increase in expenses. Operating income contributions from the domestic channels increased 17%, underpinned by double-digit growth at the Regional Sports Networks (RSNs), FX Network and Fox News.

Affiliate revenue growth of 15% at the domestic cable channels for the third quarter primarily reflects higher rates at all domestic networks, led by growth at the RSNs and Fox News.

Advertising revenue at the domestic cable channels grew 10% in the third quarter of fiscal 2012 over the prior year period, reflecting growth at nearly all domestic networks led by double-digit growth at Fox News and the National Geographic Channels.

The company as a whole reported revenue of $8.40 billion, a 2% increase over the $8.26 billion of revenue reported a year ago. The quarterly revenue increase was led by double-digit growth at the company’s Cable Network Programming and Filmed Entertainment segments, partially offset by declines primarily at the company’s Television segment.

Commenting on the results, Chairman-CEO Rupert Murdoch said: “Once again News Corp. showed strong operational momentum in the quarter, driven by significant growth at our Cable Network Programming and Filmed Entertainment segments. With our disciplined approach to monetizing our brands, I believe we are better situated than ever to capitalize on the increasing global demand for our superior content.”

Read the company’s report here.