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Murdoch's News Corp. Triples Profit

Media conglomerate earns $2.7B, thanks mainly to DirecTV deal

By John Johnson,  Newser Staff

Posted May 7, 2008 5:28 PM CDT
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(Newser) – Rupert Murdoch's media conglomerate tripled its profit last quarter on improved results from its cable and broadcast networks and the sale of DirecTV, MarketWatch reports. News Corp. earned $2.7 billion, or 91 cents a share, up from $871 million, or 27 cents a share, in the same quarter last year. Revenue jumped 16% to $8.75 billion, exceeding analysts' estimates.

Profits rose 53% at the company's TV division, which includes the Fox network, host of this year's Super Bowl. Income from the newspaper and information services group—which includes the Wall Street Journal—rose 38% to $216 million. Another highlight: The film Juno, from 20th Century Fox, raked in $225 million after costing just $7.5 million to make.

DirecTV sub-contractor Eddie Ortiz installs a DirecTV Ka/Ku satellite antenna dish atop a Redondo Beach, Calif. residence in this Aug. 7, 2007, file photo.
DirecTV sub-contractor Eddie Ortiz installs a DirecTV Ka/Ku satellite antenna dish atop a Redondo Beach, Calif. residence in this Aug. 7, 2007, file photo.   (AP Photo/Damian Dovarganes, file)
Rupert Murdoch, who controls global media conglomerate News Corp., speaks at a news conference in New York in this file photo of Oct. 20, 2006.
Rupert Murdoch, who controls global media conglomerate News Corp., speaks at a news conference in New York in this file photo of Oct. 20, 2006.   (AP Photo/Mark Lennihan, File)
The DirecTV building is seen in El Segundo, Calif., in this Aug. 8, 2006, file photo.
The DirecTV building is seen in El Segundo, Calif., in this Aug. 8, 2006, file photo.   (AP Photo/Reed Saxon, File)
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DirecTV • Rupert Murdoch • Fox • Juno • Super Bowl XLII • News Corp • 20th Century Fox

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