Rupert Murdoch’s News Corporation has announced a 27% increase in fourth quarter profits to $1.13 billion.
Net income of $1.13 billion, an increase of $239 million from the $890 million reported in the fourth quarter a year ago.
Revenues rose 17% to $8.6 billion, while the group recorded full-year operating income of $5.4 billion, an increase of 21% year on year.
Murdoch said: “All of our business segments generated year over year gains, with record profits reported at our satellite broadcasting, cable programming, film and television businesses.
“Although we clearly face more challenging macro-economic conditions in fiscal 09, we’re well positioned to deliver continued, if somewhat less robust growth.”
The group’s filmed entertainment business reported fourth-quarter operating income of $220 million, more than double last year’s income, while the television segment reported fourth-quarter operating income of $279 million, a 28% drop year on year.
For the full-year, operating income increased 17% due to improved Fox Broadcasting Company results and reduced losses from MyNetwork TV.
Cable network programming reported fourth-quarter operating income of $313 million and record full-year operating income of $1.3 billion.
Sky Italia reported fourth-quarter operating income of $212 million, an increase of $57 million or 37% compared to a year ago, reflecting the addition of 366,000 new subscriber over the past 12 months.
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