NewsCorp Celebrates 'Best Year Ever'

03 October 2005

Fiscal 2005, ended June 30, was the best year in the 52-year history of News Corporation, according to the global media conglomerate's annual report published last week.

Chairman/ceo Rupert Murdoch, who in 1953 inherited the [then] Adelaide, Australia-based business from his father Sir Keith Murdoch was in triumphal but restrained mode, writing in his introduction to the report …

"The company reported record revenues and profits, generated a record amount of cash flow from its operations, achieved a swift turnaround at its Italian satellite platform and completed a host of strategic initiatives that we believe position us for sustained growth for years to come,"

Murdoch's bullish view of the future is underpinned by a group profit for 2005 of $2.1 billion (€1.74bn; £1.19bn) - a result that leaves even the grouchiest investor uncomplaining at the self-awarded salary and bonus received by NewsCorp's chairman/ceo: $4.5m plus $18.9m.

Data sourced from Sydney Morning Herald; additional content by WARC staff