US media group News Corp reported Tuesday sales
up 2 per cent in the first fiscal quarter of 2012, compared with the
previous year, largely because of its cable television business.
The group, run by Rupert Murdoch, saw sales reach 8.1 billion
dollars from July to September, and net income at 2.2 billion dollars
- a tripling of profits.
That was largely due to the sale of its NDS set-top software
subsidiary to Cisco Systems.
However, some 67 million dollars was set aside for legal and
professional fees associated with the phone-hacking scandal at the
British News of the World newspaper, subsequently shut down by
Murdoch.
In a statement in New York, Murdoch said: "Our operational
discipline and focus on innovation continued to drive the company's
momentum in our fiscal first quarter, led by double-digit growth in
our channels business and the global success of our film and
television content."
Stock rose 2 per cent on early trading after the profit figures
beat analysts' expectations.
