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Fox News Profits Grow Even as Viewership Declines Last Updated Here’s what you need to know: Lachlan Murdoch, Fox Corporation’s chief executive, claimed victory as Fox News “reclaimed its leadership position as America’s No. 1 cable news network.”Credit.Mike Cohen for The New York Times Fox News, the cable news giant controlled by Rupert Murdoch, kept its parent company flush in the first three months of the year, notching a slight gain in profit and sales despite a drop in viewers. Altogether, Fox Corporation beat Wall Street expectations with a sevenfold increase in profit to $567 million and a 6.5 percent drop in revenue to $3.2 billion compared with the same period a year prior. A change in how the company valued some of its assets was a key reason for the profit surge. Investors were looking for a $332 million profit and $3.1 billion in sales.

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