Mr Rupert Murdoch's media conglomerate News Corp reported a 73 per cent rise in profit to $1.1 billion thanks to a strong performance from its US television network and hit films.
Aided by programmes like American Idol, the Fox network reversed lacklustre performance last year. Meanwhile, the Fox News Channel's profit nearly doubled with higher ad revenue overcoming increased costs of coverage of the war in Iraq.
The company's television unit, which includes the Fox television network and 35 television stations, saw its operating income rise 63 per cent on a 9 per cent increase in revenue. The cable networks unit, which houses Fox News Channel, nearly tripled its operating income on a 19 per cent increase in revenue, despite increased costs for war coverage and higher promotional costs for its FX network.
Its film unit, which includes 20th Century Fox movie studios and its TV production operations, posted a 13 per cent increase in operating income on a 19 per cent increase in revenue, helped by films like X2: X-Men United, DVD sales of Ice Ageand syndication revenue for shows like King Of The Hilland The Simpsons.
The newspaper group, which includes the New York Post, the London Timesand Australia's Daily Telegraph, posted a 7.7 per cent increase in operating income on an 18 per cent increase in revenue.