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Twenty-First Century profit beats Wall Street, but costs a concern

The flag of the Twenty-First Century Fox Inc is seen waving at the company headquarters in the Manhattan borough in New York June 11, 2015.

Twenty-First Century Fox Inc (FOXA.O) reported better-than-expected quarterly profit on Wednesday, but higher sports programming and film marketing costs held back gains, and the media company's shares fell more than 4 percent after-hours.

Executives also sought to quell concerns over the future of Fox News Channel following the departure of long-time leader Roger Ailes.

"Throughout this process, we have moved quickly and decisively to protect the business, protect its employees and protect the unique and important voice Fox News has," Co-Executive Chairman Lachlan Murdoch said on a conference call with analysts, addressing Ailes' resignation two weeks ago from the network he built into a powerhouse.

Ailes left...