News Corp, parent to News International and BSkyB in the UK, released its financial results last night, showing a net profit after tax of $127 million, down slightly on the $193 million of last year.
The fall was principally due to a weaker Film market, according to analysts at ABN Amro. Newspaper revenues, however, were surprisingly strong and BSkyB subscriber growth was better than expected (see
City News).
ABN says that the relatively strong Fox Network and the continued outstanding growth of Fox News on cable will reinforce News Corp’s reputation in the US for building market leading businesses.
