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Fox Sports buy boosts News Corp profit

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AAP

2013-02-07

Global media giant News Corp has more than doubled its first-half profit due to the financial benefits of its purchase of a greater stake in Fox Sports.

News Corp's net profit in the six months to December 31 of $US4.61 billion ($A4.45 billion) was up from $US1.8 billion ($A1.74 billion) in the same period in the previous year.

For the three months to December, net profit of $US2.38 billion ($A2.30 billion) was up from the previous corresponding period's $US1.06 billion ($A1.02 billion).

It was during that period that News Corp took over Consolidated Media, taking complete ownership of Fox Sports and doubling its share in Foxtel to 50 per cent.

That deal, plus News Corp's increased stake in Fox Star Sports Asia, delivered $US1.4 billion in additional pre-tax income in the three months to December, News Corp said on Thursday.