Company: FOX
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001628280-25-003592
Chunk: 38

Company: Fox Corp
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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ération International de Football Association (“FIFA”) Women’s World Cup in the current year. Also contributing to this increase was higher newsgathering costs primarily due to the 2024 presidential election. Selling, general and administrative expenses increased $18 million or 6% primarily due to higher employee costs.

Television (57% and 58% of the Company’s revenues for the first six months of fiscal 2025 and 2024, respectively)

 For the three months ended December 31,For the six months ended December 31, 20242023Change% Change20242023Change% Change(in millions, except %)Better/(Worse)Better/(Worse)RevenuesAdvertising$1,962 $1,654 $308 19 %$2,970 $2,564 $406 16 %Affiliate fee824 756 68 9 %1,630 1,491 139 9 %Other175 132 43 33 %314 267 47 18 %Total revenues2,961 2,542 419 16 %4,914 4,322 592 14 %Operating expenses(2,499)(2,440)(59)(2)%(3,832)(3,638)(194)(5)%Selling, general and administrative(257)(240)(17)(7)%(505)(471)(34)(7)%Segment EBITDA$205 $(138)$343 **$577 $213 $364 ****not meaningful

For the three months ended December 31, 2024 and 2023

Revenues at the Television segment increased $419 million or 16% for the three months ended December 31, 2024, as compared to the corresponding period of fiscal 2024, due to higher advertising, affiliate fee and other revenues. The increase of $308 million or 19% in advertising revenue was primarily due to higher political advertising revenue due to the 2024 presidential and congressional elections predominantly at the Company’s owned and operated television stations, continued digital growth led by the Tubi AVOD service and sports programming led by higher NFL pricing and higher MLB postseason ratings partially offset by the broadcast of fewer games. The increase of $68 million or 9% in affiliate fee revenue was primarily due to higher average rates per subscriber partially offset by a lower average number of subscribers at the Company’s owned and operated television stations and higher fees received from