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Last Updated: Thursday, 10 November 2005, 23:15 GMT
Film sales lift News Corp revenue
Rupert Murdoch
Rupert Murdoch and his family own almost 30% of News Corp
A strong performance by its 20th Century Fox film studio boosted News Corp's first-quarter revenue, but its profit was hit by an accounting charge.

DVD sales of films such as Robots and Hide and Seek helped News Corp's group revenues grow 10% to $5.7bn (3.3bn).

However, the firm reported a net loss of $433m for the quarter after it took a $1bn charge on the value of its television stations' licences.

In the same period a year ago, the firm had reported a $625m net profit.

Excluding the charge, News Corp - which is controlled by media tycoon Rupert Murdoch - reported earnings per share of 18 cents, which beat analysts' forecasts of 16 cents.

News Corp's film unit reported a 26% jump in operating income to $368m, helped by DVD sales and by the worldwide success of the Fantastic Four film.

However, analysts said News Corp's television unit was weaker than expected, with operating income down 32% to $160m.

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