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Article: Cable Revs Up Disney and News Corp.(The News Corporation Ltd.)
- Article from:
- Multichannel News
- Article date:
- May 15, 2006
- Author:
CopyrightCOPYRIGHT 2006 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Mike Farrell
Basic Networks Drive Content Players' 2nd-Quarter Growth
It was good to be a content king last week, with two major media conglomerates -- The Walt Disney Co. and News Corp. -- reporting strong quarterly growth fueled mainly by their interests in cable networks.
Revenue rose 3%, operating income increased 7% and earnings rose 12% during the fiscal second quarter at Disney.
At News Corp., which released fiscal third-quarter results on May 10, operating income was up 14% to $1 billion, revenue climbed 3.3% to $6.2 billion and earnings more than doubled to $820 million (26 cents per share) from $400 million (13 cents). ...