News Corp. Quarterly Profit Up on Movies, Fox News
Rupert Murdoch's News Corp. said quarterly profit rose, helped by movie titles such as "Night at the Museum" and the DVD release of "Borat," as well as an increase in affiliate revenue for cable channel Fox News.
The company, home to the Fox television network and online teen hangout MySpace, said fiscal third-quarter profit rose to $871 million, or 27 cents per share, from $820 million, or 26 cents per share, a year ago.
Revenue rose 21% to $7.53 billion.
Analysts had forecast earnings per share of 27 cents on revenue of $6.81 billion, according to Reuters Estimates.
News Corp. said last week it had made a $5 billion offer, or $60 per share, to buy Wall Street Journal publisher Dow Jones & Co. as it seeks a foothold in the business media industry.