Quarterly media company results: News Corp. reported...
Quarterly media company results: News Corp. reported net income of $2.9 billion for Q3 2013, vs. the $1 billion for the same period last year. A company release (http://bit.ly/15qaluK) said the income gains were related to the acquisition of an…
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additional ownership stake in Sky Deutschland and the sale of the company’s stake in New Zealand’s Sky Network Television, along with an $11 million gain from shares of BSkyB that were repurchased. It said the gains were “partially offset” by $56 million of restructuring charges related to the company’s international newspaper businesses. News Corp. had $9.54 billion total revenue for Q3, a 14 percent increase from the prior-year quarter. News Corp. said “approximately 55 percent of the revenue increase reflects growth at the Cable Network Programming, Filmed Entertainment and Television segments,” though the growth was offset by lower revenue in publishing. ... AMC Networks reported a 17.1 percent increase in net revenue to $382 million in Q1 this year compared to a year ago, a release said (http://bit.ly/YIhVOa). AMC also improved in net income, to $62 million from $43 million the prior-year quarter. The company said the gains were driven by the company’s original programming, such as Portlandia and The Walking Dead.