News Corp today reported quarterly profit rose 69 per cent on robust sales of DVDs and increased advertising at its cable and broadcast television networks.
The global media conglomerate controlled by Rupert Murdoch posted a net profit for the fiscal third quarter ended March 31st of $465 million.
Sales of DVD movies such as League of Extraordinary Gentlemenand Planet of the Apeshelped push film operating profit up 6 per cent to $214 million, from $201 million a year ago.
Operating income at the cable networks surged 51 per cent to $143 million on higher advertising, driven by the Fox News Channel.
News Corp, which owns a controlling stake in US satellite television operator DirecTV, the 20th Century Fox movie studio and the New York Postnewspaper, plans to reincorporate the company in United States later this year with hopes of bolstering American institutional investor ownership.