News Corp Reports $642 Million Profit
News Corp’s second quarter 2010 income was $642 million, up $388 million from the year before, because cable TV is profitable, the company said yesterday.
Operating income at News Corp’s cable division were up 22 percent to $735 million. Publishing income was $380 million, which looks like a stark improvement over Q2 2009’s $90 million loss, except that in the second quarter of 2009, the publishing division was hit with a $500 million settlement. Which is to say that publishing income declined 8 percent over the year.
That’s
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