Rupert Murdoch's News Corp. records profit growth
In the fourth quarter of 2005/06, Rupert Murdoch's media conglomerate News Corp. increased its profit to $852 million. This represents a 19 percent increase compared with the same period a year earlier.
In the fourth quarter of 2005/06, Rupert Murdoch's media group News Corp. increased its profit to 852 million dollars. This represents an increase of 19 percent compared to the same period last year, as reported by SDA. The Group achieved the increase in profits through the sale of Sky Radio Limited in Germany and Holland, which brought in around 134 million dollars, through advertising revenue from the Fox News TV channel and through proceeds from the film "Ice Age 2". In operational terms, however, growth was less strong at 8 percent to one billion dollars. Turnover rose from 6.11 billion dollars to 6.78 billion dollars. The media group suffered losses in the newspaper, magazine and book business. However, these were offset by better results in the cable, television and film divisions. News Corp. includes newspapers such as The Times and The Sun in the UK, the film studio 20th Century Fox and Fox television channels, as well as the website MySpace.com.
