Rupert Murdoch reported higher profits for News Corp. (NWS-A) for the fiscal fourth quarter, based mostly on increased revenue from its cable networks.
For the fiscal quarter ending on June 30, net income increased to $890 million, or 28 cents a share. Last years' same quarter reached $852 million or 27 cents a share. When considering the figure from last year included the sale of Sky Radio Limited which brought in $134 million, or 4 cents a share, it was a strong increase. Overall revenue for the period increased from $6.78 billion to $7.37 billion.
The increase in cable-network revenue came from higher fees paid by cable operators to carry the popular Fox News Channel, along with stronger advertising sales. Operating income for the quareter also gained, as it grew to $284 million from last years $194 million.
For the Fox broadcast network, revenue increased at its Star TV and their owned and operated stations from $1.34 billion to $1.43 billion. Ratings and the resultant advertising increases attributed to those gains. It helped to offset the one really poor performer for the company MyNetwork TV. Even so, income dropped from $403 million to $385 million.
Another division that didn't perform as well was its film and television studios as overall revenue fell from $1.79 billion to $1.45 billion, with income correspondingly dropping from $200 million to $106 million.
Revenue for their newspaper unit performed surprisingly well as revenue increased to $1.2 billion from $1.06 billion. Their book-publishing revenue also grew as it sprung to $295 million form $256 million.
I like how News Corp. and Rupert Murdoch have positioned the company. They have some strong performers carry them in revenue and profit while bringing a steady stream of new products - like the upcoming Fox Business Network - to the public.
With the addition of the content that comes with their recent acquisition of Dow Jones & Co. (DJ), they look poised to grow revenue and profits strongly, as they get things positioned for the future.
This is an alarmingly surprising news. How can it be true?
New York Post, one of his newspapers is among the most disgusting ragamuffin rag sheets I know of, where a psychotic, extremely revolting, nauseating and ugly, doo-doo faced sociopath named Peaser, do endless hatchet jobs on everyone.
This ugly rag sheet of newspaper should be outlawed and banned because it pollutes America and Peaser (the horrible) should be sentenced to a mental institution forever (and a lobotomy performed on her) , because that is where she belongs.
Secret33
Posted by: Secret33.com, On American Media | August 11, 2007 6:45 AM | Permalink to Comment