Fox News Claims Election Victory, But CNN Wins Key Demographic

(Bloomberg) -- Fox News commanded the biggest ratings in cable TV on the evening of the U.S. midterm elections, bringing fresh momentum to a channel that will soon be the centerpiece of a new Fox spinoff.

The network generated the highest-rated midterm coverage in cable-news history, the company said, citing Nielsen data. Still, CNN led the field among viewers 25 to 54 years old -- a key demographic for advertisers.

Fox News averaged 7.8 million in total prime-time viewers and 2.4 million in the 25-to-54 category. In a separate statement, CNN said it had 2.54 million in the ad-friendly demographic.

21st Century Fox Inc., which delivered one of its final earnings reports on Wednesday, is preparing to sell most of its assets to Walt Disney Co. in a $71 billion deal. But Fox News will live on in a new company focused on news and sports. The network is expected to generate about two-thirds of the spinoff’s profit.

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