Cable Networks Boost News Corp. Earnings

The News Corporation reported strong quarterly earnings yesterday, but the announcement was upstaged by Rupert Murdoch’s comments on the company’s recent deal to buy the publisher of The Wall Street Journal.

Earnings were up 4.5 percent for the quarter that ended June 30, capping a very strong fiscal year in which profit rose 48.1 percent, led by gains at Fox News Channel, an Italian satellite television service and the MySpace social networking site.

The news came a week after News Corporation reached an agreement to buy Dow Jones & Company for more than $5 billion, a deal that will take months to consummate.

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- Posted: 2007-08-09 10:34:32

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