News Corp. Rakes in $250 Million in Super Bowl Ad Revenue

What You Should Have Read, Feb. 5, 2008

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Super Bowl Throws Deep for News Corp.
The Financial Times reports that Fox brought in $250 million in advertising revenue on the strength of the most-watched Super Bowl ever. News Corp. CEO Rupert Murdoch called it "the biggest day in our company's history." Mr. Murdoch made the disclosure during News Corp.'s second quarter call. The media company said that it would raise its earnings guidance for the year in spite of a softening U.S. economy. "I know there are concerns about the economic environment. We at Fox have not seen any impact to date," said Peter Chernin, News Corp's president, noting that the TV group's advertising rates remained robust. News Corp expects full-year operating earnings to rise in the "mid-teens."
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