News Corp. Profit More Than Doubles on Higher TV Fees
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News Corp., the owner of Fox Broadcasting and the Twentieth Century Fox film studio, said second-quarter profit more than doubled, driven by higher television subscriber fees and advertising sales.
Net income climbed to $642 million, or 24 cents a share, from $254 million, or 10 cents, a year earlier, the New York-based company said today in a statement. Excluding restructuring and impairment charges, earnings were 29 cents a share, compared with the 28-cent average of analysts’ estimates compiled by Bloomberg.