News Corp., the newspaper publisher controlled by billionaire Rupert Murdoch, reported quarterly earnings that beat analysts' estimates amid higher book-publishing and digital real-estate sales. Profit, excluding some items, was 26 cents a share in the fiscal second quarter, compared with the 24 cents analysts estimated on average, according to data compiled by Bloomberg. Revenue rose 1.9 percent to $2.28 billion, according to a statement Thursday. Analysts had projected $2.27 billion.
News Corp. is planning to split into two companies. One company will operate as a newspaper and book publisher and will retain the name News Corp. The other will be an entertainment company, called 21st Century Fox.
Here's how the split will work:
- Newspapers, book publishing and information services such as Dow Jones Newswires will be part of the publishing company. The 20th Century Fox movie studio, the Fox broadcast TV network and the Fox News Channel will be part of the media and entertainment company.