News Corp. increases profit and sales
News Corporation continues to gain momentum: Business is booming, thanks primarily to rising advertising revenue.
According to SDA, media mogul Rupert Murdoch's US media group earned a bottom line of 775 million dollars in its first quarter ended September - more than a third more than in the same period last year. Turnover rose from 7.2 billion to 7.4 billion dollars.
News Corp. owns the film studio 20th Century Fox, the Fox television chain, newspapers such as the Wall Street Journal or the British Times and Sun as well as book publishers. In Germany, Murdoch controls the pay-TV channel Sky Deutschland (formerly Premiere). In the UK, he is currently looking to acquire the entire BSkyB television group.
Competitor Time Warner also reported a jump in sales on Wednesday. Advertising spots and fees for its pay channels filled the US media group's coffers in the third quarter of 2010. Overall, Time Warner sales rose by 2 percent to 6.4 billion dollars compared to the same period last year. However, the early settlement of debts had a negative impact on the company's profits. The bottom line was only 522 million dollars, a fall of 21 percent.
News Corp. owns the film studio 20th Century Fox, the Fox television chain, newspapers such as the Wall Street Journal or the British Times and Sun as well as book publishers. In Germany, Murdoch controls the pay-TV channel Sky Deutschland (formerly Premiere). In the UK, he is currently looking to acquire the entire BSkyB television group.
Competitor Time Warner also reported a jump in sales on Wednesday. Advertising spots and fees for its pay channels filled the US media group's coffers in the third quarter of 2010. Overall, Time Warner sales rose by 2 percent to 6.4 billion dollars compared to the same period last year. However, the early settlement of debts had a negative impact on the company's profits. The bottom line was only 522 million dollars, a fall of 21 percent.




