Murdoch vows News Corp 'integrity' as profits rise to $2.74bn

Rupert Murdoch has said he will do “whatever is necessary” to prevent the phone hacking scandal occurring again, as his News Corporation conglomerate reported a rise in annual profits to $2.74bn.

Rupert Murdoch has said he will do “whatever is necessary” to prevent the phone hacking scandal occurring again, as his News Corporation conglomerate reported a rise in annual profits to $2.74bn.

The media mogul said the scandal, which saw the closure of the News of the World last month, had seen no impact on the other arms of the business.

News Corp, the parent company of News International which published the tabloid, said profits for the year ending in June were $2.74bn compared to $2.54bn the previous year.

The company made a net income of $683m in the three months to June 30. However, in the same period a year ago, it made a net income of $875m.

Mr Murdoch, the chairman and chief executive of the company, said: “While it has been a good quarter from a financial point of view, our company has faced challenges in recent weeks relating to our London tabloid, News of the World.

“We are acting decisively in the matter and will do whatever is necessary to prevent something like this from ever occurring again. It is important to note that there has been no material impact on our other operations.”

He said the future of the company is “promising”, adding that one of the fundamental goals at News Corp was to “provide outstanding content and services to customers and consumers – and do it with integrity”.

However, investors will have to wait until the next quarterly figures to gain more information about how the closure of the newspaper will affect News Corps profits.

The final edition of the 168-old newspaper was printed on July 10 – 10 days after the three months covered in the company’s latest financial results.

The scandal also caused the resignation of two top police officers, Metropolitan Police Commissioner Sir Paul Stephenson and Assistant Commissioner John Yates.

Some of News Corps other businesses include 20th Century Fox, US network Fox Broadcasting and the Wall Street Journal.

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