Not conservative, not liberal.
FAIR & BALANCED
Posted on 08/08/2006 2:11:28 PM PDT by abb
CHICAGO (MarketWatch) -- Rupert Murdoch's News Corp. (NWS) (NWS.A) said Tuesday that its fiscal fourth-quarter profit rose 19% on increased revenue at its film studios and television networks. New York-based News Corp. said said net income in the latest three months rose to $852 million, or 27 cents a share, compared with a year-earlier profit of $717 million, or 22 cents a share. Earnings in the latest quarter included a gain of $134 million, or 4 cents a share, on its sale of Sky Radio Limited. Revenue rose to $6.78 billion from $6.11 billion. Analysts polled by Thomson First Call were expecting a profit of 23 cents a share on revenue of $6.69 billion. Filmed entertainment revenue rose to $1.79 billion from $1.19 billion, while cable network revenue climbed to $934 million from $831 million
Ping
Having X Men III do better than expected helped...
Time Warner just reported huge profits, and the Mouse is hauling in cash. Over all the summer movie season is raking in money, well over last year and probably on pace to do better than 04 and get on the increased revenue track. Media conglomerates seem to be pretty happy this year in general, it's really the news delivery section of the media that's taking on water.
More...
http://www.marketwatch.com/News/Story/Story.aspx?guid={4D259F9E-75EE-4964-8268-C033DC16C6F6}&siteid=mktw&dist=nbi
News Corp. profit rises 19%
CHICAGO (MarketWatch) -- Rupert Murdoch's News Corp. said Tuesday that its fiscal fourth-quarter profit rose 19% on increased revenue at its film studios and television networks.
New York-based News Corp. (NWS) (NWS.A) said net income in the latest three months rose to $852 million, or 27 cents a share, compared with a year-earlier profit of $717 million, or 22 cents a share.
Earnings in the latest quarter included a gain of $134 million, or 4 cents a share, on its sale of Sky Radio Limited.
Revenue rose to $6.78 billion from $6.11 billion.
Analysts polled by Thomson First Call were expecting a profit of 23 cents a share on revenue of $6.69 billion.
At the company's film and television studios, revenue rose to $1.79 billion from $1.19 billion, fueled by the theatrical results of "Ice Age: The Meltdown" and "X-Men: The Last Stand," as well as proceeds from the DVD releases of "Big Momma's House 2," "Cheaper By the Dozen 2" and "The Family Stone."
Cable network revenue rose to $934 million from $831 million on greater advertising sales at Fox News Channel and FX, as well as higher fees paid by cable operators to carry the company's Fox Sports regional networks.
Revenue at the Fox broadcast network, the company's owned-and-operated television stations and its Hong Kong-based Star TV subsidiary declined to $1.34 billion from $1.356 billion, but operating income rose 17%, bolstered by ratings increases and advertising gains at Fox.
Newspaper revenue fell to $1.06 billion from $1.15 billion, while book publishing revenue rose to $399 million from $309 million.
On Monday, News Corp. and search giant Google Inc. (GOOG) said Google would provide search listings for the social networking site MySpace under the terms of a four-year deal. See full story.
News Corp. shares rose 1.9% to close at $19.34 on Tuesday.
End of Story
David B. Wilkerson is a reporter for MarketWatch in Chicago.
Ah, yes. Rupert Murdoch, another member of the Council on Foreign Relations. Just one among nearly everyone running this country, private and public, these days.
I keep saying "BUY" the stock (NWS) !
I think Murdoch will endorse Hillary for 2008
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