News Corp. earnings jump 67 percent

News Corp., the media conglomerate controlled by Rupert Murdoch, reported a 67 percent jump in earnings for its fourth fiscal quarter Wednesday on gains in cable programming, home entertainment, and the inclusion of full results from an Australian newspaper group.

News Corp. earned $717 million in the three months ending in June, or 23 cents per Class A share, compared with $429 million or 15 cents per share in the same period a year ago.

Revenues rose 11.7 percent to $6.11 billion from $5.47 billion.

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By division, gains in the company's cable networks group, which includes the Fox News Channel, FX and several regional sports networks, as well as the Twentieth Century Fox studio outweighed a weak showing in broadcast television.

Profits from cable networks rose 14 percent on higher advertising sales as well as the absence of costs from the NHL season, which was canceled due to a lockout. The company also said it benefited from no longer having losses from the Los Angeles Dodgers, which it sold.

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Gains in home entertainment sales also led to a 15 percent profit gain from its Twentieth Century Fox studio on strong sales of films including "Alien v. Predator," "Sideways" and "Napoleon Dynamite."

Profits from broadcast television, which includes the Fox television network, fell 2 percent as gains from advertising were offset by higher fees for returning TV shows.

Newspaper segment profits more than doubled on strong advertising gains in Australia and the inclusion of results from Queensland Press Group. The company acquired the outstanding 58 percent controlling interest in the unit. The company also reported gains in its U.K. newspapers, which include The Times of London.