CNBC |Â PaidContent.org
The media conglomerate reports a 5 percent drop in its first quarter earnings and a 38 percent decline in its publishing unit’s operating income. Still, growth in the corporation’s television and movie businesses helped it post a 7 percent increase in quarterly revenue, surpassing analysts’ expectations. CEO Rupert Murdoch skipped Wednesday’s earnings call, and COO Chase Carey wasn’t eager to discuss the hacking scandal that led to the closure of the British News of the World tabloid. “The earnings call is actually a good time to shift gears and talk about our operations,” Carey told reporters. || Related: News Corp. COO gives a vote of confidence to James Murdoch — Rupert’s son and the presumed heir to the corporation — as Vanity Fair reports that Rupert considered asking James to step aside.
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News Corp. earnings fall on phone-hacking scandal fallout
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