NEW YORK (TheStreet) --Shares of Twenty-First Century Fox Inc. (FOXA) are up 1.24% to $34.63 as TV broadcasters rise following a U.S. Supreme Court ruling against the online streaming service Aereo in a copyright case.
In a 6-3 vote, the justices said unlicensed companies cannot stream copyrighted shows to the public without paying licensing fees, the Los Angeles Times reports.
TV broadcasters rely heavily on licensing revenues from cable and satellite providers, the Times added.
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Separately, TheStreet Ratings team rates TWENTY-FIRST CENTURY FOX INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TWENTY-FIRST CENTURY FOX INC (FOXA) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, attractive valuation levels, increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."