Observers of News Corp.
Net sales increased nearly 9% for the quarter, coming in at $7.4 billion. Net income from continuing operations rose 22% to $0.28 per diluted share. For the full fiscal year, net sales expanded by 13% to $28.7 billion. Net income from continuing operations increased 24% to $1.08 per diluted share.
As everyone knows, Rupert Murdoch loves to wheel and deal. Not only was he hot for the aforementioned Dow Jones, but there were a few asset sales mentioned in the earnings release, such as the disposition of News Corp.'s stake in Sky Brasil. The company seems to be doing a good job managing its various holdings.
News Corp. has a thriving film business, one that easily competes with major studios such as Disney
The television segment may have seen decreases in operating income for the quarter and for the year, but cable programming shot up 46% and 26% in those same periods, respectively. You've got to hand it to that Fox News Channel -- it's a jewel of an asset, roping in an audience that's 75% higher than its nearest competitor during primetime. And I have to wonder what plans General Electric's
There are a lot of elements to Murdoch's empire, but I think the conglomerate had an excellent year overall. Operating cash flow increased 26% to $4.1 billion, and free cash flow increased 23% to $2.8 billion. This was enough money to cover acquisitions and dividend obligations during the quarter. I like the company, I think it's being well-run, and I believe its platforms and programming will help increase shareholder value over time. If you're looking for a media holding, News Corp. is as good as any to look at.
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Fool contributor Steven Mallas owns shares of Disney, General Electric, and Marvel Entertainment. As of this writing, he was ranked 10,979 out of more than 60,000 investors in the CAPS system. CAPS wants you ... needs you. Check it out. The Fool's disclosure policy is fair and balanced.