If companies had magic numbers, Fox Entertainment Group (NYSE:FOX) would have to lay claim to 24. Before the company announced improved earnings last night, it was trading at 24 times trailing earnings. The stock dipped below the $24 mark just once this year when the stock stumbled back in April. And yes, 24 just happens to be one of the company's many hit television shows.

Then again, the same thing can be said for Joe Millionaire, and maybe that's a more appropriate lucky number to ponder now that the company is on a roll. Yesterday, the company posted an 80% surge in earnings per share on an 18% rise in first-quarter revenues. Those healthy gains naturally helped prop up results at parent company News Corp. (NYSE:NWS) as well.

While the bulk of the improvement comes from the company's filmed entertainment business, a lot of that wouldn't be possible without the company's network success. Releasing full seasons of hit Fox shows like The Simpsons and Buffy on DVD has been huge for the company.

On the studio side, it also doesn't hurt that the company had theatrical hits such as Daredevil and Phone Booth to push into the home market. Last year it was stuck peddling clunkers like Shallow Hal and Behind Enemy Lines.

In short, Fox rocks. While the company isn't as widely followed as such film and TV entertainment behemoths as Disney (NYSE:DIS), Time Warner (NYSE:TWX), and Viacom (NYSE:VIA), it is growing at a healthier clip -- without the baggage of lackluster assets.

What do you think of the fall season prime time lineup at Fox? Any other shows you're watching? Do you need more or less reality television in your life? All this and more -- in the Television Banter discussion board. Only on Fool.com.