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One-time gains boost News Corp profit to $2.85 bn

News Corp said Wednesday profit in the past quarter tripled to $2.85 billion, boosted by a one-time gain from its German satellite TV operations, and improvements in cable TV and film operations. The quarterly results from the conglomerate led by Rupert Murdoch were largely in line with expectations, with an operating profit of 36 cents a share, excluding special items.

One-time gains boost News Corp profit to $2.85 bn

News Corp said Wednesday profit in the past quarter tripled to $2.85 billion, boosted by a one-time gain from its German satellite TV operations, and improvements in cable TV and film operations. The quarterly results from the conglomerate led by Rupert Murdoch were largely in line with expectations, with an operating profit of 36 cents a share, excluding special items. soe-rl/dw

UK ex-cop jailed for selling story to Murdoch tabloid

A former British policeman was jailed for 10 months on Thursday for selling a story to Rupert Murdoch's top-selling tabloid The Sun and trying to sell other information about headline-grabbing cases. James Bowes, 30, was sentenced at London's Old Bailey court after pleading guilty to misconduct in a public office last month.

UK BSkyB executive and daughter killed in speedboat accident

LONDON (Reuters) - An executive at Britain's pay-TV group BSkyB and his eight-year-old daughter were killed in a speedboat accident while on holiday in southwest England, and his wife and three other children were also airlifted to hospital, Sky said on Monday. Nicholas Milligan, 51, who was managing director of Sky Media, the advertising sales arm of BSkyB which is 39-percent-owned by Rupert Murdoch's News Corp, died after he and five family members were thrown into the water in an estuary off the popular resort of Padstow on Sunday afternoon.

Report: Former Dow Jones exec William Cox Jr., part of Bancroft family that owned WSJ, dies

NEW YORK, N.Y. - Former Dow Jones The Journal report cited unnamed people close to the family. Cox was part of the Bancroft family that controlled Dow Jones and the Wall Street Journal until they were sold to Rupert Murdoch's News Corp. in 2007. The sale was contentious because the Journal had long been independent and members of the Bancroft family were divided about whether to sell or not. But eventually, News Corp. paid about $5 billion to acquire Dow Jones, which publishes the Journal.

Ex-bodyguard for Rebekah Brooks charged in relation to UK phone hacking probe

LONDON - A man who provided protection for the former chief executive of News International has been charged in relation to Britain's wide-ranging phone-hacking investigation. Scotland Yard said Friday that David Johnson, 47, allegedly conspired with Rebekah Brooks and five others in July 2011 to conceal computers and other items from officers investigating allegations of phone hacking and corruption at British tabloids. Johnson is charged with conspiracy to pervert the course of justice. He will appear at London's Westminster Magistrates' Court on May 8.

Pay-TV giant BSkyB reports 7% increase in net profits

British pay-TV firm BSkyB said Thursday that net profits rose seven percent in the first nine months of the group's financial year on the back of rising subscriber revenues, and despite the difficult economic climate. Earnings after taxation increased to £736 million ($1.15 billion, 868 million euros) in the nine months to the end of March, compared with £689 million in the same part of its previous fiscal year. Group revenues advanced six percent to £5.381 billion.

Some details on how News Corp. split will work

News Corp. is planning to split into two companies. One company will operate as a newspaper and book publisher and will retain the News Corp. name. The other will be an entertainment company, called 21st Century Fox. Here's how the split will work: — Newspapers, book publishing and information services such as Dow Jones Newswires will be part of the publishing company. The 20th Century Fox movie studio, the Fox broadcast TV network and the Fox News Channel will be part of the media and entertainment company.

News Corp. shareholders to vote on split June 11 at special meeting

NEW YORK, N.Y. - News Corp. says June 11 will be the date of a special shareholders meeting to approve a plan to split into two companies. The split is expected to be completed by this summer. The company that will retain the News Corp. name will own book publishers and newspapers, including The Wall Street Journal. Another company called 21st Century Fox will focus on entertainment, anchored by a movie studio and the Fox television network. Both companies will trade publicly, under different stock tickers. Rupert Murdoch will be chairman of both companies and CEO of Fox.

News Corp split to boost Murdoch pay 15%

US media magnate Rupert Murdoch will get a 15 percent pay hike with the split-up of News Corp. into two publicly traded companies, according to a company filing published Friday. Murdoch will see his combined compensation from the two entities jump to $28.3 million in fiscal 2014, from $24.6 million this year, according to a News Corp. filing to the Securities and Exchange Commission. The additional funds will be linked to company performance in the fiscal year ending June 30, the SEC filing said.
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