[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Wednesday, 10 August, 2005, 21:26 GMT 22:26 UK
Fox helps boost News Corp profits
Rupert Murdoch
Mr Murdoch's older son Lachlan has left the company
Rupert Murdoch's News Corporation has reported a 67% rise in quarterly profits, led by higher earnings at its Fox movie and TV networks.

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.

Murdoch 'eyes' Russian investment
01 Aug 05 |  Business
Murdoch 'heir' to quit News Corp
29 Jul 05 |  Business
News Corp in $580m internet buy
19 Jul 05 |  Business
News Corp's quarterly profits dip
05 May 05 |  Business

The BBC is not responsible for the content of external internet sites


Americas Africa Europe Middle East South Asia Asia Pacific