Fox sees big upside in new sports channel, FXX

Twenty-First Century Fox over the next two years will spend $400 million to $500 million on the launches of its Fox Sports 1 and FXX networks, according to Chase Carey, chief operating officer. Fox Sports 1, which is adding Formula E racing to its programming roster, is on track to turn a profit in three years, Fox Sports Media Group co-presidents Eric Shanks and Randy Freer said.

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