News Corp. reported fourth-quarter net income up 27 percent to $1.1 billion. The increase was attributed in part to the sale of Fox Sports Bay Area and Gemstar-TV Guide International. Operating income rose 21 percent to $1.5 billion and revenues were up 17 percent to $8.6 billion. “All of our business segments generated year-over-year gains, with record profits reported at our satellite broadcasting, cable programming, film and television businesses,” Murdoch said. “Although we clearly face more challenging macroeconomic conditions in fiscal ’09, we’re well positioned to deliver continued, if somewhat less robust, growth.”
Meanwhile, over at MySpace, where the market is a bit weaker, home page takeover ads are on the rise — for example, Warner Bros. recently took over the MySpace home page, which resulted in 70 million streams of the trailer for “The Dark Knight.”
In the newspaper and information services division, operating income increased by $59 million to $262 million, with Dow Jones contributing $24 million. — A.W.