21st Century Fox’s stock is up about 3.8% in afternoon trading after COO Chase Carey announced the buy back, which investors like because it increases the value of their holdings. He assured analysts in a day-long conference that Fox can achieve “an entirely new level of revenue growth and profitability.” He projected that in 2016 the company can generate more than $9B in cash flow. Carey also says that Fox can see high single digit annual revenue growth and rising profit margins, even as it continues to invest in new and existing businesses. “Our first priority has to be keeping the brands strong,” he says. The COO projected that cable channels will see “low teen annual affiliate revenue growth” with the U.S. ones up “low double digits.” Television station cash flow will grow “low to mid teens” each year. And the film and TV production operation will see low single digit growth through 2016.
Fox Shares Rise After It Unveils $4B Stock Repurchase Plan
Trending Now on Deadline
Ferguson Grand Jury Decision: CNN & Fox News Reporters Attacked On-Air; Networks Go Live To Obama Remarks Over No Indictment - Update
Nicole Kidman & Reese Witherspoon To Star In 'Big Little Lies' Limited Series, Penned By David E. Kelley
More From Lieberman
- Will Redbox's 25% Price Hike For DVD Rentals Hurt Its Bargain Image?
- Exhibitors Agree To “Landmark” ADA Compromise On Closed Captioning
- Court Blocks FCC On Content Deals, Cutting Outsiders' Access To Program Terms
- Turner Networks, Including CNN, Return To Dish Network
- Norman Lear Nixes 'All In The Family' Reboot For Sony--For Now
- Aereo Files For Bankruptcy Protection