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
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)
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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.