21st Century Fox Posts Higher Profit on Increased Revenue\, Sale of Sky Stake

21st Century Fox Posts Higher Profit on Increased Revenue, Sale of Sky Stake

Cable business, which includes Fox News and Fox Sports 1, booked a 7% rise in revenue

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21st Century Fox Inc.’s quarterly profit rose on gains for the company’s cable networks and movie business and the sale of shares in Sky PLC.

The New York-based media company is in the midst of a major overhaul, including the sale of its Hollywood studio and other entertainment assets to Walt Disney Co. for $71 billion and its stake in European content and distribution giant Sky.

21st...