News Corp. Remains Confident Despite Profit Decline

Profits fell 8% in the third-quarter for News Corp. even though revenues grew heartily in its cable advertising and film units. Higher expenses related to Fox's Super Bowl programming, as well as cable restructuring costs are to be taken into consideration for the drop in profit. "Our third quarter results were led by the strong performances of our filmed entertainment and cable network programming segments and was achieved despite a weaker performance at television," said Chairman and CEO Rupert Murdoch. "While the television segment was down year-on-year, reflecting higher programming costs and the soft advertising marketplace in the US, our stations generated record market share and the broadcast network, on the heels of its victory during the February sweeps, is poised to win the broadcast season ratings race for the first time in its history." Bloomberg News murdok. Visit murdok for the