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News Corp. profit up thanks to television business

By Agence France-Presse
Wednesday, August 10, 2011 17:06 EDT
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SAN FRANCISCO — Scandal-battered media behemoth News Corp. on Wednesday reported a bumper end to the fiscal year with profits and revenue buoyed by its cable television business.

News Corp. said net income for the recently-ended fourth fiscal quarter tallied $683 million and that it finished the year with profit amounting to $2.74 billion as compared with $2.54 billion in 2010.

“While it has been a good quarter from a financial point of view, our company has faced challenges in recent weeks relating to our London tabloid, News of the World,” News Corp. chief executive Rupert Murdoch said in a press release.

“We are acting decisively in the matter and will do whatever is necessary to prevent something like this from ever occurring again.”

Agence France-Presse
Agence France-Presse
AFP journalists cover wars, conflicts, politics, science, health, the environment, technology, fashion, entertainment, the offbeat, sports and a whole lot more in text, photographs, video, graphics and online.
 
 
 
 
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