URGENT ¥¥¥ News Corp doubles profit to $2.38 bn

Rupert Murdoch's News Corp said Wednesday its profit in the just-ended quarter more than doubled to $2.38 billion, helped by a reorganization which brings in results from Australian broadcasting units.

In releasing the earnings, Murdoch said the media-entertainment conglomerate was making "progress toward the proposed separation of our entertainment and publishing businesses later this year."