News Corp

News Corp posts profits

Rupert Murdoch’s empire “continues to thrive”.

RUPERT MURDOCH must have been a happy man today, as News Corporation posted a net profit of $875m (€665m ) for the fourth quarter of 2009.

Last year, News Corp sold a Bulgarian TV station, cash from a BSkyB legal settlement, and received some tax credits.

Overall, the company posted yearly profits of $2.5bn (€1.9bn) for 2009.

Murdoch said: “Despite the volatility of world economies, News Corporation continues to thrive on a truly global scale,” and added, “These results underscore just how well positioned we are – fiscally, operationally and strategically – for further growth across all of our markets.”

The News Corp empire consists of bodies like the Fox network, film studio 20th Century Fox, publishing house Harper Collins, and newspapers like the Wall Street Journal and the Times.

The company allegedly has improving advertising markets and blockbuster movies to thank for the profits.

(Well, it’s certainly not down to Murdoch’s recent idea to raise a paywall on the Times websites that’s for sure…)