For the quarter ended March 31, News Corp. earned $2.85 billion, or $1.22 a share, compared with $937 million, or 38 cents a share, in the year earlier period.
Revenue for the quarter increased 14% to $9.54 billion, beating Wall Street estimates.
The increases primarily came from higher carriage fees for
"We believe we are in incredibly strong position on many fronts," News Corp. Chief Operating Officer Chase Carey told analysts Wednesday afternoon.
Cable television, including Fox's cluster of regional sports networks,
Cable television generated $2.8 billion in revenue and $993 million in operating income, an increase of 17% over the year earlier period.
Broadcast television, which suffered through a bruising three months due to steep declines in
Broadcast television contributed $1.23 billion in revenue, an increase of 1.4% and operating income of $196 million, an increase of 14.6%.
Filmed entertainment, the company's second-largest unit, generated 17% higher revenue, rising to $2 billion. The division posted $289 million in operating income, an increase of 6.3%. The company benefited from the home entertainment releases of "Life of Pi," "Taken 2" and "Ice Age: Continental Drift."
But the publishing business, which includes the
While British newspapers brought in more revenue, helped by the Sunday edition of the Sun, the ailing Australian economy crimped profits from down under.
News Corp. spent another $42 million in costs related to the ongoing legal troubles in the
Meanwhile, restive shareholders renewed calls on Wednesday for a diminishment of Murdoch's role at the company.
Longtime critics of News Corp., the Christian Bros. Investment Services and the British Columbia Investment Management Corp. in Canada, said they had lodged a joint shareholder proposal calling for an independent chairman, rather than the 82-year-old Murdoch, to oversee News Corp.'s board.
The Nathan Cummings Foundation also urged the elimination of the company's dual-class stock structure, which allows Murdoch to control the company through his holdings of 38% of the vote shares. The family's voice is unduly disproportionate, the foundation said, noting that Murdoch and his family's economic interest in News Corp. is a much smaller 14%.