News Corp. Rides Success of TV Stations, Fox News

By Andrew Gauthier 

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Associated Press

News Corp. is benefiting from political ad spending and a hard-nosed bargaining strategy with pay-TV operators, as gains in its TV and cable segments helped net income grow in the latest quarter.

The New York-based media giant controlled by Rupert Murdoch said Wednesday that net income in the fiscal first quarter, which ended Sept. 30, rose 36 percent to $775 million, or 30 cents per share, from $571 million, or 22 per share, a year ago.

Revenue grew 3 percent to $7.43 billion from $7.20 billion. More…