21st Century Fox's (FOXA) - Get Report  latest quarter is likely to show that continued performance in its cable networks were strong and its long-term picture is intact.

"Our checks show that TV advertising has been stable even with declining ratings," Wedbush Securities analyst James Dix wrote to investors ahead of earnings. "We attribute this to the rising acknowledgement of the positive impact of cross-channel advertising vs. single-channel advertising."

Fox has been insular to some of the changes in the broader media landscape, experiencing some of the highest growth in the last quarter of 2016, thanks to Donald Trump's win in the U.S. presidential election in November. There were also large events that captured the nation's (and advertisers') interest, such as the World Series in October.

The Chicago Cubs beat the Cleveland Indians in a seven-game series, with astronomical ratings for the seventh game, as more than 40 million people watched the broadcast.

Analysts surveyed by Yahoo! Finance expect the New York-based company to earn 49 cents a share on $7.72 billion in revenue.

In addition to the company's Cable Unit segment, investors will be looking to see how the company's movie business did during the quarter, as well as what plans are for 2017.

Movies such as Rules Don't Apply, Why Him? and Assassin's Creed did not fare well during the quarter, with Assassin's Creed having the largest box office, at $209 million, according to Box Office Mojo.

Over the past 12 months, shares of Fox have gained nearly 25%, compared to the near 22% gain in the S&P 500.

Here are three ETFs that may benefit if investors like 21st Century Fox's second-quarter results.

PowerShares Dynamic Leisure and Entertainment Portfolio ETF

The $148.1 million PowerShares Dynamic Leisure and Entertainment Portfolio ETF (PEJ) - Get Report  has Fox making up 5.01% of its portfolio, charging investors an expense ratio of 0.63%.

PowerShares Dynamic Media Portfolio ETF

Loop Capital Markets analyst David Miller notes that despite the unimpressive performance of the aforementioned theatrical releases, there is hope coming shortly. "FOXA's next theatrical catalyst will be the horror thriller A Cure For Wellness, set to hit ~5,500 screens on February 17,"  Miller wrote in a research note, previewing earnings.

Loop has a hold rating and a $29 price target on shares of Fox.

The $84.1 million PowerShares Dynamic Media Portfolio ETF (PBS) - Get Report   has Fox making up 4.97% of its portfolio, charging investors an expense ratio of 0.62%.

Wedbush Securities's Dixon, who has an outperform rating and a $35 price target, noted that advertising revenue is likely to remain stable, despite concerns about ratings, particularly with the NFL. "For example, our checks show that while NFL has been experiencing ratings fall, NFL advertising has been stable," Dixon wrote to clients. "Moreover, day NFL games -- where FOXA is focused -- have outperformed night games." 

AdvisorShares Wilshire Buyback ETF

The $144.7 million AdvisorShares Wilshire Buyback ETF (TTFS)  has Fox comprising 1.89% of its portfolio, charging investors an expense ratio of 0.99%.

Pacific Crest Securities analyst Andy Hargreaves wants to hear more about the company's pending acquisition of Sky, chiefly buying the remaining 60% of the company it doesn't already own.

"We view its concentrated efforts of key cable networks with exposure to news and sports as a relatively strong strategic position to be in, while its pending acquisition of Sky is a reasonable financial transaction that should be accretive," Hargreaves wrote in a note to clients. Pacific Crest has an overweight rating and a $35 price target on the company.