NEW YORK: News Corporation has posted a modest rise in quarterly profits and insists there is no weakness in the television advertising market, amid fears posed by the US economic downturn and the Hollywood writers' strike.
Higher ad sales at its Fox News Channel and the Fox Broadcasting network offset a decline in its movie studio business.
The media conglomerate says fiscal Q2 profit increased to $832 million (€566.6m; £422m) from $822m a year earlier. Operating income jumped 23% to $1.4bn. Revenue rose 9.5%, to $8.6bn. As a result forecasts for full-year earnings were raised.
NewsCorp chairman Rupert Murdoch also confirmed readers will continue to be charged for access to the Wall Street Journal's premium online content.
He said: "Those items that are basically commodities, or that you can get free elsewhere . . . will be in our new wider, more open online service.
"But where you have unique information it is clearly of tremendous value and we think we ought to charge for it."
Murdoch has also indicated he wants the business daily to start a range of "niche" paid-for websites aimed at the business community.
Data sourced from reuters.com and MediaGuardian.co.uk; additional content by WARC staff