News Corp Got Some Good News, Too
Shares in News Corp jumped more than 17 percent by midday today (Thursday) after the company posted quarterly results that beat Wall Street estimates. The news was trumpeted by Fox Business Network, which itself contributed to an unexpected surge in earnings by the media conglomerate. "Fox Business has made great strides," News Corp President/COO Chase Carey said during a conference call on Wednesday. The channel has been given a big lift during the past week as millions of eyes focus on its reports about the volatile state of Wall Street.. Today's Los Angeles Times observed that from Thursday through Tuesday, FBN's daytime audience grew 256 percent versus the same period a year ago. Its evening audience was up 162 percent.