News Corp. 4Q beats estimates; Murdoch vows to remain CEO
Excluding a $254 million loss on the sale of Myspace, News Corp.'s adjusted earnings came to 36 cents per share, beating the 30 cents expected by analysts. Revenue grew 11 percent to $8.96 billion, which also beat expectations for revenue of $8.51 billion. Rupert Murdoch said that the company is "acting decisively in the [phone-hacking] matter and will do whatever is necessary to prevent something like this from ever occurring again." He vowed to investors on a conference call that he'll remain CEO. || Dylan Stableford and Peter Kafka live-blogged Murdoch's earnings call. Stableford notes: "After taking 33 minutes of questions from Wall Street analysts, Murdoch + News Corp. allow the media exactly 3 minutes." || Read News Corp.'s press release.
And now Rupe's yelling at @davidfolkenflik that Dinh is a completely independent director.