Fox Slides After Cord-Cutting Fears Overshadow Results
- Company emerged from Disney megadeal earlier this year
- Investments in sports and entertainment have been paying off
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Fox Corp., the media company left over after a megadeal with Walt Disney Co. earlier this year, topped analysts’ earnings estimates after surging affiliate revenue helped make up for sluggish ad sales.
Still, the shares slid 5.2% Thursday after cord-cutting headwinds and escalating costs overshadowed the media company’s strong quarter.