THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING
MARKET MOVERS

News Corp. surges, despite the scandal

Artist Geoffrey Raymond was displaying his painting “Inverted Murdoch’’ in front of News Corp.’s building in New York last week. Artist Geoffrey Raymond was displaying his painting “Inverted Murdoch’’ in front of News Corp.’s building in New York last week. (Brendan Mcdermid/Reuters)
August 12, 2011

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

Your article has been sent.

Text size +

News Corp. rose sharply on solid profit (35 cents per share, beating forecasts) and a promise to return cash to stockholders via share buybacks. The gain restored much of the billions in value lost after a hacking scandal in Britain exploded. The company closed its News of the World tabloid, and 12 people were arrested. Revenue grew 11 percent to $8.96 billion with big gains at Fox News and elsewhere.