News Column

Media Giants Time Warner and News Corp Boost Profits

Feb 6, 2013
News Corp's Rupert Murdoch
News Corp's Rupert Murdoch

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.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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