P.M. BRIEFING : Murdoch’s Earnings Leap 69%
Rupert Murdoch’s News Corp. outstripped even the most optimistic forecasts today with a 69% leap in earnings for the last six months of 1990, but said it may not be able to keep up the growth rate.
News Corp. said its half-yearly profit of $201 million reflected substantial improvements from its U.S. film and broadcasting operations and its acquisition in July of British book publisher HarperCollins.
The global media conglomerate owns Fox Broadcasting and 20th Century-Fox studios in the United States, as well as publisher Harper & Row, TV Guide and newspapers. In Britain, Murdoch controls about a third of the national press.
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