Rupert Murdoch's News Corporation has reported a 67% rise in quarterly profits, led by higher earnings at its Fox movie and TV networks.
Mr Murdoch's older son Lachlan has left the company
For its fourth quarter News Corp made net profits of $717m (£400m), compared with $429m a year earlier, beating market expectations.
Its turnover rose by 12% to $6.1bn, compared to $5.5bn a year previously.
The results came two weeks after Mr Murdoch's son Lachlan quit the firm. He had been regarded as a likely heir.
Instead, Lachlan Murdoch is stepping down from New York-based News Corp to return to his native Australia.
News Corp finished its financial year with a cash pile of more than $6bn.
It has plans both to buy back shares and make future investments.
"So while we generated record financial results this past year, I believe we have made the right strategic and operational moves to secure our momentum heading into fiscal 2006," Mr Murdoch senior said.
News Corp's results beat market expectations.