Fox: Result 2013

21st Century Fox, the rebadged News Corp, has reported a solid full-year result and healthy growth should continue. But the stock is no longer cheap.

We first added News Corp to our buy list in Breaking News: There’s value in News Corp on 25 Oct 10 (Long Term Buy – $16.30). Since then, we’ve had the UK phone-hacking scandal and its associated media inquiries, the closure of the News of the World and an embroglio over the alleged piracy of pay TV smartcards.

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