News Corporation Reports Third Quarter

Wednesday, May 7th, 2008
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NEW YORK, NY — News Corporation (NYSE: NWS, NWSA; ASX: NWS, NWSLV) today reported third quarter net income of $2.7 billion ($0.91 per share) as compared with $871 million ($0.27 per share on a diluted combined basis) reported in the third quarter a year ago.


SKY Italia reported third quarter operating income of $97 million, an improvement of 7% versus a year ago, on local currency revenue growth of 6%. This improvement reflects subscriber additions, with more than 342,000 net subscribers added over the past 12 months, bringing SKY Italia’s subscriber base to 4.5 million at quarter end, as well as the impact from foreign currency fluctuations. The subscriber revenue growth was partially offset by reduced mobile revenues, increased programming spending associated primarily with the larger subscriber base and the launch of new channels, as well as planned higher promotional costs for new subscriber offerings.

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