Fox News, Sports Nets Bolster News Corp. Operating Income

Aug 9, 2006  •  Post A Comment

With help from growth in its cable and broadcast television businesses, News Corp. reported operating income of $3.9 billion, a 9 percent increase over fiscal 2005, for the fiscal year ended June 30.

Increased revenue at News Corp.’s regional sports networks and ad sales strength at Fox News Channel resulted in operating income growth of 23 percent for the year, while TV operating income grew 8 percent thanks to the prime-time ratings strength of “American Idol”-bolstered Fox Broadcasting.

The good news was not only generated year to year. In the fourth quarter, News Corp. saw an 8 percent growth in operating income to $1 billion, up from $955 million a year ago.

In the TV segment of its business, News Corp. saw its fourth-quarter operating income increase 17 percent to $403 million, while cable network programming grew 42 percent in the fourth quarter to $194 million.