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IPFS News Link • Economy - Economics USA

News Corp profit misses

 (Reuters) - News Corp (NWSA.O) missed Wall Street profit expectations on weaker movie box office output compared to a year ago and struggling newspapers despite a strong performance by its cable and television business. 

Rupert Murdoch's News Corp, which owns broadcaster Fox and publishes newspapers including the Wall Street Journal and the UK's News of the World, said its fiscal third quarter compares with a year ago when it benefited from the record-breaking performance of Hollywood blockbuster 'Avatar'.


Despite the expected solid earnings News Corp's operations have been overshadowed in recent months by speculation about the company's dealmaking and the controversy surrounding its phone hacking scandal at its UK weekly tabloid News of the World.


The New York-based company is in the process of trying to buy the 61 percent of BSkyB (BSY.L) it doesn't already own.