Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

News Corp. profit almost triples (CNN on suicide watch?) ^ | Feb 8, 2006 | David B. Wilkerson

Posted on 02/08/2006 2:21:50 PM PST by abb

CHICAGO (MarketWatch) -- Rupert Murdoch's News Corp. said after the market closed Wednesday that its fiscal first-quarter profit nearly tripled on a gain related to the sale of its TSL Education business, along with revenue gains at its cable television networks.

The New York-based media titan said it earned $1.08 billion, or 33 cents a share, compared to a profit of $386 million, or 13 cents a share, in the year-ago quarter.

Excluding a gain of $381 million related to the TSL sale, News would have earned $694 million, or 21 cents a share, in the latest three months.

Revenue rose to $6.67 billion from $6.56 billion.

Analysts polled by Thomson First Call were expecting a profit of 20 cents a share on revenue of $6.88 billion.

Cable network revenue rose to $810 million from $624 million on advertising gains at the Fox News Channel, as well as higher fees paid by cable operators to the company's regional sports networks.

Revenue at the Fox broadcast network, the company's owned-and-operated television stations and its Hong Kong-based Star TV subsidiary rose to $1.59 billion from $1.56 billion.

On the downside, revenue at the company's film and television production studio declined to $1.61 billion from $1.87 billion on difficult comparisons to a year-ago quarter that contained DVD results from "The Day After Tomorrow," "Garfield," "I, Robot" and "Dodgeball: A True Underdog Story," as well as the "Star Wars" trilogy.

Newspaper revenue was flat at $1.01 billion.

Book publishing revenue rose to $390 million from $377 million.

The shares rose 13 cents to close at $16.76 on Wednesday.

TOPICS: Business/Economy; News/Current Events
KEYWORDS: ailes; cablenews; foxnews; foxnewsratings; msm; murdoch; newmedia; newscorp; oldmedia; ruper; rupertmurdoch
Roger Ailes ping...
1 posted on 02/08/2006 2:21:52 PM PST by abb
[ Post Reply | Private Reply | View Replies]

To: anita

Hey Anita seen this news?

2 posted on 02/08/2006 2:22:34 PM PST by MNJohnnie ("Vote Democrat-We are the party of reactionary inertia".)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb


3 posted on 02/08/2006 2:28:25 PM PST by Recovering_Democrat ((I am SO glad to no longer be associated with the party of Dependence on Government!))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Recovering_Democrat
America is addicted to big media! We must stop our reliance on big media!

4 posted on 02/08/2006 2:30:13 PM PST by birbear (You know what? This is crap. We're going to stop this.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: abb

Way to go Rupert!

May you live to be 100!

5 posted on 02/08/2006 5:26:08 PM PST by wardaddy (Guns, God, Abortion is Murder, Private Property, Borders,My Culture, Break Islam....any questions)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

I'll bet Murdoch doesn't provide health care to their workers like CNN does. :-)

6 posted on 02/08/2006 5:50:39 PM PST by Loyal Buckeye
[ Post Reply | Private Reply | To 1 | View Replies]

To: StarFan; Dutchy; Timesink; ajolympian2004; VPMWife78; Gracey; Alamo-Girl; RottiBiz; FoxGirl; ...
FoxFan ping!

Please FReepmail me if you want on or off my FoxFan list. *Warning: This can be a high-volume ping list at times.

7 posted on 02/08/2006 8:48:09 PM PST by ajolympian2004
[ Post Reply | Private Reply | To 6 | View Replies]

To: ajolympian2004; nutmeg

1 BILLION like B for BOY?


8 posted on 02/08/2006 8:50:32 PM PST by SevenofNine ("Not everybody in, it, for truth, justice, and the American way,"= Det Lennie Briscoe)
[ Post Reply | Private Reply | To 7 | View Replies]

To: ajolympian2004

Very impressive!! So there, CNN!!!

9 posted on 02/08/2006 9:38:11 PM PST by Primetimedonna (Charter member of the San Francisco SnowFlakes! We love our Tony! It's SAN FRANCISCO, not Frisco.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: abb

What makes this even more impressive is that FNC has a much harder time getting "big" ad accounts. Flip back and forth between CNN and FNC sometime and see who advertizes on each.

Fox predominantly has kitchen gadgets and diet pills while CNN has fortune 500 companies advertizing. This trend may be starting to change, however, as I see more ads for cars etc on FNC now.

10 posted on 02/08/2006 9:43:14 PM PST by Straight Vermonter (John 6: 31-69)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Straight Vermonter

Rupert obviously knows his stuff.
I marvel at what he has done with FNC, and how he has taken them to the top against a once stiff competitive landscape.

Ailes deserves a lot of credit as well.

11 posted on 02/09/2006 8:02:40 AM PST by yankeedoodledandy
[ Post Reply | Private Reply | To 10 | View Replies]

To: abb

Not surprising, considering how well FNC is run and the disaster that is Klein over in the CNN camp.

12 posted on 02/10/2006 12:28:29 PM PST by hardknocks
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson