Idol Is Golden For News Corp
Rupert Murdoch's News Corp more than doubled its third-quarter profit largely due to the enormous success of American Idol. Results were dragged down somewhat, however, by the performance of its 20th Century Fox film division, which reported a 10-percent decline from a year ago. In an SEC filing on Wednesday, the company said that net profits rose to $820 million versus $400 million during the same quarter a year ago. Shares in the company reached a new 52-week high of $19.51 during mid-day trading on the NYSE today (Thursday).