August 10, 2012 – News Corp’s cable networks saw 15% revenue growth in its latest quarter, although offset by declines in other departments. Total segment operating income for the cable network programming increased 26 percent.
Overall, TV reported quarterly operating income of US$213 million, down US$20 million from 12 months ago.
The quarterly results included a $57 million charge related to the ongoing investigations from the phone-hacking scandal at News International’s News of the World newspaper in London.
Rupert Murdoch, chairman and CEO, said: “We are proud of the full year financial growth achieved over the last twelve months, led by our Cable Network Programming and Filmed Entertainment segments. Not only did we execute on our operating plan and deliver on our financial targets, we returned over $5 billion to shareholders through an aggressive buyback program and dividends. In addition, significant progress has been made in opportunistically addressing the company’s non-consolidated assets, as demonstrated by the purchase of Fox Pan American Sports, the sale of NDS and the announced intention to purchase the remaining ownership stake of ESPN STAR Sports and Consolidated Media Holdings.”
Related links: http://worldscreen.com/articles/display/2012-8-9-news-corporation-loss