Twenty-First Century Fox 2002 Annual Report Download - page 24

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Cable Network Programming
News Corporation
’
s cable television channels have
quickly graduated from promising upstarts to durable –
and profitable – market leaders. The Company’s
news and general entertainment channels, Fox News
Channel and FX, are the two fastest-growing channels
in the industry; its sports network, Fox Sports Net,
is enjoying the largest ratings increase in its five-year
history; and the recent launch of the National
Geographic Channel in the U.S. and the Speed
Channel relaunch have generated strong subscriber
and ratings growth. As a result, the Company’s cable
properties are now experiencing the profits that
come with reaching and retaining the top positions
in their markets.
In fiscal 2002 the cable sector’s operating income
increased 88 percent on the strength of higher adver-
tising and subscriber revenues. Fox News Channel
grew its subscribers by 18 percent as it toppled CNN
as the most popular news channel. FX achieved
tremendous ratings and earnings growth on the
strength of its powerful original series and NASCAR
cablecasts, while Fox Sports Net, the Company’s
regional sports networks, continued to dominate
local sports markets across the U.S.
In fiscal 2002, the Company’s cable properties
emerged as some of the most dynamic and admired
channels on U.S. television.
■FX series The Shield, produced by Fox Television Studios, achieved the highest ratings
in cable history for both its premiere episode and series finale. Sins of the Father, an FX
made-for-TV movie, became the highest-rated original program in cable history
23