Murdoch to continue as News Corp boss
11 Aug 2011
News International announced a full-year operating income of £3.08 billion with figures showing a 12-per cent increase spurred by the success in television and cable networking programming as BSKYB and Fox News performed well for the company.
The company reported a 22-per cent drop in the fourth quarter earnings due to losses in the sale of MySpace. It made a £254 million loss following tax on the sale of social media site but the profits were lifted by the FOX TV network.
Meanwhile News Corp chief Rupert Murdoch has pledged to take whatever action was warranted to prevent a repeat of the phone hacking scandal saw the News of the World closing down.
Murdoch said there could be no doubt about News International's commitment to ethics and integrity.
Murdoch accepted that the recent phone-hacking scandal that led to the company closing its News of the World newspaper had caused News Corporation difficulty, although its revenues rose 11 per cent to $9 billion.
"Make no mistake, (chief operating officer) Chase Carey and I run this company as a team, and the strength of that partnership is reflected in our improved results," he said.