News Corp. Profits Rise in 2005
News Corp., parent of Twentieth Century Fox and Fox Broadcasting, had fourth-quarter net income of $717 million, up from $429 million in the same period last year. Revenues rose 12% to $6.1 billion. For the full year News Corp. had net income of $2.1 billion, up from $1.5 billion in fiscal 2004. Full year revenues of $23.0 billion rose 15% from fiscal 2004.
Annual operating income increased at all units, with the company’s Direct Broadcast Satellite Television unit reporting a profit in the fourth quarter and cutting its full-year losses nearly in half. Cable Network Programming, Newspapers and Filmed Entertainment also recorded healthy increases in operating income.
[Source: Business Wire]