Cable TV Helps NewsCorp Post Strong Quarterly Results

07 August 2008

NEW YORK: News Corporation's fiscal fourth quarter followed a familiar trend among US-based media groups, with strong results from cable networks offsetting less robust numbers from broadcast and local TV.

Net income in fiscal Q4 climbed to $1.1 billion (€711m; £563m), while revenue rose 17% to $8.59bn.

NewsCorp reported a 10% gain in operating income at its cable division. However, lower prime-time advertising sales at its Fox TV network and lower ad revenue from its local TV stations contributed to a 28% slide in the division's operating income.

The conglomerate's film and TV production studio was the main driver for earnings, with operating profit more than doubling to $220m.

Data sourced from Wall Street Journal Online; additional content by WARC staff