NewsCorp Q1 profits lift expectations
NewsCorp, the media company controlled by Rupert Murdoch, said its third-quarter profit increased 69%, boosted by strength at its filmed entertainment and TV businesses.
Net profit in the quarter ended 31 March was $465m (€384.1m) and sales rose 19% to $5.2bn (€4.2m). Television profit rose 25%, helped by higher advertising rates for the Fox TV network's "American Idol''.
Operating profit also increased at News Corp.’s newspaper unit group, up 53% to $176m (€145.4m), as Murdoch's UK and Australian newspapers sold more ads.
The unit includes the Sunday Times in the UK and the New York Post.
Cable-unit sales rose 12% to $612m (€505.6m).
