Carey: Fox Broadcast a Billion Dollar Business

With retransmission agreements providing hundreds of millions of dollars of new revenue, News Corp.'s broadcast business should generate $1 billion in operating income per year in the new future, according to COO Chase Carey. "We have retrans agreements in place with four of the larger distributors and have now set the market for our broadcast business," Carey said during an earnings call with analysts. "As we continue to secure new agreements over the next couple of years we will be taking this business to a whole new level of profitability." (Fighting for those retrans and cable carriage fees cost the company $47 million in the quarter.)