News Corp. TV Revenue Up 20%

News Corp. on Wednesday reported an increase in its fiscal year’s second quarter television revenue of $121 million at Fox Television Stations (FTS) and Fox Broadcasting Co.

FTS’s second quarter contributions increased more than 50% from the same period a year ago, driven by a 20% rise in revenue. This growth, the company said, reflects a stronger overall local advertising market, particularly in the automotive and financial sectors, as well as increased levels of political advertising.

Fox Broadcasting Co.’s second quarter results improved 24%, as increased advertising revenue from National Football League games and general entertainment programming more than offset lower advertising revenue from this year’s Major League

Baseball post season due to lower ratings and one less game than the prior year.

Cable network programming reported second quarter segment operating income of $735 million, a 22% or $131 million increase over the second quarter a year ago, driven by a 12% increase in revenue despite the adverse impact of a distribution contract renewal dispute at the domestic cable channels. Operating income contributions from the domestic channels increased 16%, and the company’s international cable channels

grew earnings 37%.

Advertising revenue at the domestic cable channels grew 12% in the second quarter of fiscal 2011 over the prior year period due to volume and pricing strength. The international cable channels’ advertising revenue grew 27% over the prior year, primarily due to improving ad markets and stronger viewership trends, led by the company’s Star channels.

Affiliate revenue growth of 10% at the domestic cable channels and 17% at the international cable channels for the second quarter primarily reflect higher rates and subscribers, with international increases led by Fox International Channels growth in Latin America and Asia.

News Corp. as a whole reported second quarter total segment operating income of $1.29 billion compared with $712 million of total segment operating income reported a year ago.

Read the company’s report here.