Cybersecurity
News Corp. Net Rises on TV Gains: Scandal Costs Hit $195 Million
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News Corp., owner of Fox Broadcasting, reported a 65 percent increase in second-quarter profit, driven by higher fees from pay TV operators. The company also said a hacking scandal has cost $195 million.
Net income rose to $1.06 billion, or 42 cents a share, from $642 million, or 24 cents, a year earlier, the New York-based company said yesterday in a statement. Excluding some items, profit was 39 cents, exceeding the 34-cent average of 23 analysts’ estimates compiled by Bloomberg.