News Corp., Sydney, reported its after-tax profit for the fiscal year ended June30 rose 19% from a year earlier to $991 million. Revenues were up 13% to $9billion; operating profits grew 12% to $1.226 million, led by a strongimprovement at its Fox TV unit and higher earnings for its U.K. newspapers.Results from U.S. operations were up more than 16%, led by a 26% gain at the FoxTV group. Aided by the strong performance of "The NFL on Fox," total operatingprofits at Fox rose more than 40% and combined operating margins exceeded 50%.U.S. publishing, including TV Guide and News America FSI, had a 13% increase inoperating profits despite the negative impact of increased paper costs.
Copyright August 1995 Crain Communications Inc.