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August 5, 2010 by · 2 Comments 

Led by outstanding results at its Fox News and FX cable networks, which saw operating income soar 31 percent during its fourth quarter versus a year ago, News Corp beat analysts’ expectations as it reported profits of $875 million for the quarter, compared with a loss of $203 million for the comparable quarter a year ago. News Corp also owns the 20th Century Fox movie studio, the Fox television network, a host of newspapers, including the Wall Street Journal, the New York Post, and the London Times, and the social networking site MySpace.com. During a conference call with analysts News Corp Chairman Rupert Murdoch attributed the strong results to ad sales, which he described as “inexplicably great.” Nevertheless, he observed, “There is sufficient fragility for us not to be overconfident about the mid-term.” For the year, News Corp’s operating income was up by 11.2 per cent to $3.96 billion, largely boosted by sales for 20th Century Fox’s blockbuster Avatar.