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CEO Lachlan Murdoch said the company will place new emphasis on digital media. 06 May, 2021 - 06:45 PM IST     |     By indiantelevision.com Team     New Delhi: Fox Corporation on Thursday reported increase in quarterly net income which rose to $582 million as compared to the $90 million reported in the prior year quarter. A change in how the TV broadcasting company valued some of its assets is being considered a key reason for the increase in net income. However, the total quarterly revenues dropped to $3.22 billion as compared to the $3.44 billion reported in the year ago quarter. According to the New York-based company, this was primarily due to the absence of the ad revenue from the broadcast of Super Bowl LIV. Advertising revenues fell 24 per cent to $1.20 billion as compared to the $1.57 billion reported in the prior year quarter. Fox News, too recorded a seven per cent drop in ad revenue.

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