WHY THIS MATTERS:That court denial of the writ request means the FCC's decision to eliminate cross-ownership rules and loosen other local ownership restrictions goes into effect and could mean that Sinclair Broadcasting can keep more stations in the Tribune deal than under the old rules.
WHY THIS MATTERS:The quarter included a $1.34 billion tax benefit, or 72 cents a share. Excluding the tax benefits, 21st Century Fox's earnings from continuing operations were 42 cents a share, compared to 53 cents a year ago.