21st Century Fox, the parent company of FOX Business, posted quarterly earnings that narrowly beat expectations on Wednesday after a tumultuous week on Wall Street.
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During its second fiscal quarter, the company reported 46 cents earnings per share, which matched the forecast by economists surveyed by Thomson Reuters. The company reported total quarterly revenues of $8.04 billion, edging out expectations of $7.94 billion, according to Thomson Reuters.
The earnings come on the heels of a major deal between Fox (FOXA) and Disney (DIS), which was announced in December, that Disney would acquire entertainment assets of 21st Century Fox for approximately $52.4 billion in stock — a transaction valued at more than $66 billion.
Disney Chairman and CEO Robert Iger plans to extend his tenure through 2021.
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“I’m convinced that this combination, under Bob Iger’s leadership, will be one of the greatest companies in the world,” Rupert Murdoch, executive chairman of 21st Century Fox, said at the time.
The deal, which is expected to be completed within 12 to 18 months, requires anti-trust approval by the Justice Department. Some experts have warned that the mega-deal will be scrutinized closely, after the DOJ sued to block a similar merger between AT&T (T) and Time Warner (TWX).
