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News Corp. 4Q beats estimates; Murdoch vows to remain CEO

avatar by Published Aug. 10, 2011 5:54 pm Updated Aug. 11, 2011 7:14 am

Associated Press
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.

Nick Rizzo

And now Rupe’s yelling at @davidfolkenflik that Dinh is a completely independent director.

> Earlier: Board member Dinh has personal ties to the Murdoch family

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  • Charles Norrie

    Mr Rupert Murdoch may say that the phone hacking mega-scandal is being dealt with, but his attitude to the DCMS Select Committee suggested he scarcely knew what a telephone was.  Claiming as some do that the NoW was a newspaper fit for spinster Victorian  ladies of a certain age  goes not do justice to it. It was invasive, destroyed other people’s lives, often because it didn’t like them and celebrated an illusory fantasy culture which did not exist even in the lives of its targets.  The arrested Miskiw has already confessed to destroying other people’s lives, Bring down the wreck of this evil empire before it is too late. Cancel all of Murdoch’s broadcasting licences with no compensation.