News Corp’s filmed entertainment division went through “a pretty horrible year”, reports chairman Rupert Murdoch, due largely to Fox’s disastrous animated movie, Titan AE.

This, together with digital TV rollout costs at Britain’s BSkyB and the sale of US magazine group TV Guide, depressed group profits from $917 million in 1999 to $794m for the year to June 30.

However, News Corp’s newspaper businesses shone, with operating profits up 27% thanks to burgeoning advertising sales.

News source: The Times (London)