Media giants Time Warner and News Corp both posted sharp increases in profit thanks to cable TV subscriber growth and increases in advertising.
News Corp, owned by media mogul Rupert Murdoch, said revenues rose 5 percent to 9.4 billion dollars in the fourth quarter of 2012, while profits doubled to $2.4 billion.
Time Warner said net income in the quarter was $1.17 billion, up from $773 million in the same quarter a year earlier.
Revenue was down slightly to 8.16 billion dollars from $8.19 billion a year ago.
Most Popular Stories
- 15 Myths That Could Ruin Your Hispanic Ad Campaign
- AIG to Create 230 Jobs in Charlotte
- General Motors Names Mary Barra as First Female CEO
- Bitcoin Clones Lurch Onto Financial Scene
- Russia Says Nyet to Canada North Pole Claim
- Bipartisan Negotiators Reach Modest Budget Agreement
- Scripps Shares Rise on Reported Bid Talks
- Justin Bieber Visits Typhoon Victims, Plays Concert
- Senate Dems Move Forward With Obama Nominees
- New Obama Aide to Focus on Climate Change