News Corp profit trebles to €902m

RUPERT MURDOCH’S News Corp media empire has seen quarterly profits nearly treble to £620 million (€902m), boosted by the sale of education titles in Britain.

The group announced that total sales in its second quarter rose 1.5% to £3.84 billion (€5.6bn).

Last October’s sale of the Times Educational Supplement resulted in a one-off financial gain of just over £218m (€317.22m).

Lower returns from News Corp’s newspaper and movie businesses were offset by higher TV profits.

Gains at the Fox News cable network and the Fox Broadcasting division resulted in quarterly operating profits rising 20% at the TV arm.

Excluding one-off items News Corp recorded operating profits of around £398m (€580m).