Raw Story reported a few days ago that profits "almost halved" at News Corporation's publishing arm. However, Fox News continues to be extremely profitable for the media conglomerate.
Raw Story wrote:
Profits almost halved at News Corporation’s publishing division, home to titles including the Times, Sun and Wall Street Journal, in the three months to the end of September, during which the company took a further $67m (£41.9m) charge relating to the News of the World phone-hacking scandal.
The company’s newspaper publishing operation was also hit by an advertising slow down in its US and Australian businesses in the three-month period.
But Fox News continues to do well and, in fact, is the most profitable division of News Corporation:
At its U.S. pay TV networks, advertising revenue rose 8 percent, led by Fox News and its regional sports networks. Fees from distributors such as cable TV companies rose 16 percent domestically. The segment was again the company’s most profitable, generating operating profit of $953 million on $2.45 billion in revenue.
Sadly, hate still sells well in America.
Oh, wait- Trick question. It’s a mix of both.
