COMPANY TOWN ANNEX

News Corp. Shows Improved Operating Results: Bucking the trend among media companies, Rupert Murdoch’s global Australia-based News Corp. reported that operating profit before extraordinary items for the fiscal year ended June 30 increased 85% to $657 million on 5% higher revenue. News Corp. said the strong performance was due mostly to improved results at its TV, newspaper and magazine operations. However, News Corp. added that those gains were offset by significantly lower performance at its Twentieth Century Fox Film division after several movies posted disappointing box office results last winter.