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TV Properties Help Drive News Corp.’s Second Quarter Profit; My Space Brought In Less Revenues Than a Year Ago

Feb 3, 2011  •  Post A Comment

News Corp.’s second-quarter profit more than doubled, helped by a 12% rise in advertising at the company’s U.S. channels and a five-fold jump in operating profit from its television unit, Bloomberg reports.

The television unit was helped by higher political and automotive advertising, with National Football League ad increases helping soften lower advertising for the World Series, the story notes.

The company’s cable networks increased operating income by 22%, the article adds.

While TV and cable proved strong performers, the company’s MySpace recorded lower search and advertising revenue, leading to larger losses at News Corp.’s Digital Media Group, the story says. 

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