Written by StockNews.com

Twenty-First Century Fox Inc. (Nasdaq: FOXA) late Wednesday posted mixed fiscal third quarter earnings results and provided an update of its proposed mega merger with Sky UK.

The New York City-based media giant reported Q3:

• earnings per share (EPS) of $0.54, which was $0.06 better than the Wall Street consensus estimate of $0.48 [while]
• revenues rose 4.6% from last year to $7.56 billion, falling short of analysts’ view for $7.63 billion...

The company commented on its latest quarter via press release:

“We delivered a quarter marked by operational momentum and strong domestic affiliate fee growth.

We continue to demonstrate our ability to capture opportunities to grow distribution of our domestic portfolio of video brands, whether through established MVPD partners or new digital entrants such as Hulu’s recently launched live television service.

We made progress in the quarter against our key strategic priorities, exemplified by our creative successes across screens, from theatrical releases Logan and Hidden Figures to new FX debuts of Legion, Feud and Taboo.

Our proposed combination with Sky, which was recently approved unconditionally by the European Commission, will advance another of our strategic priorities, driving innovation for customers.

We remain confident the proposed transaction will be approved by the end of the calendar year following a thorough review process.”

...Year-to-date, FOXA has gained 0.09%, versus a 7.78% rise in the benchmark S&P 500 index during the same period.

FOXA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #4 of 20 stocks in the Entertainment – Media Producers category.