As Rupert Murdoch's News Corp. released its financial results for the fiscal fourth quarter and full year 2007, Murdoch also announced he hopes to close the $5.6 billion buy-out deal with Dow Jones & Co. within three to four months.

News Corp. saw an 8.6 percent increase in fourth quarter consolidated revenue, to $7.37 billion from $6.82 billion. Operating income grew 18 percent from $1.03 billion to $1.2 billion, while net income rose 4.5 percent from $852 million to $890 million in this quarter.

Revenue from the television segment grew to $1.43 billion, with a 6.7 percent increase, while operating income dropped 4.4 percent to $385 million.

Cable-network-programming revenues increased 17 percent to $1.095 billion, while operating income rose 46 percent to $284 million.

Revenues from direct-broadcast satellite increased 15 percent to $865 million, while operating income rose 84 percent to $155 million.

However, filmed-entertainment revenues dropped 18.5 percent to $1.45 billion and operating income decreased 47 percent to $106 million.

The acquisition of Dow Jones for $5.6 billion is seen as a benefit to the new Fox Business Network, which will launch in mid-October.

Source: BroadcastingCable