While most media companies are reporting losses, News Corp’s 4th-quarter earnings jumped 27%.
According to the AP, it’s a result on profit from asset sales and higher operating earnings in most businesses. However, the company expects slower growth in the current year because consumers are affected by higher energy costs and the current financial crisis.
”We are in a much more difficult economic environment,” CEO Rupert Murdoch told analysts and reporters on a conference call.
News Corp. expects operating income to grow between 4 to 6 % from a base of $5.13 billion in fiscal 2008.