"We save more money in term deals and, you know, story costs and probably the lack of making pilots than we lose in potential advertising," Chernin said, adding the walkout that started last week is "probably a positive" for the company.
Thanks to its unscripted hit "American Idol," Fox is in a better position than some other networks to endure the strike, the Los Angeles Times noted.
The network also has a lineup of mid-season scripted series, including the "Terminator: The Sarah Connor Chronicles," ready to go.
"Fox does come out on top because of 'American Idol,'" Jack Myers, a veteran media analyst and creator of the MediaVillage.com Web site, told the Times.
Myers said it is hard to tell how the walkout will ultimately affect the way TV and movies get made but allowed, "This strike could radically remake the industry."
Notable deaths of 2014 [PHOTOS]
Sarah Michelle Gellar debuts choppy bob