News Summary: News Corp 3Q beats Street on pay TV

News Summary: News Corp 3rd-quarter profit, revenue beat analysts' forecasts

Associated Press

VIEW TOPPER: News Corp. posted third-quarter adjusted earnings of 36 cents per share, a penny better than analysts' forecasts. Revenue rose 14 percent to $9.54 billion, also better than the $9.14 billion expected. Excluding the accounting benefit of increasing its stake in subsidiaries, revenue would have come to $9 billion.

SPLIT COMING: Chief Operating Officer Chase Carey said the split of the company into two publicly traded companies is proceeding as planned for the end of June. One side will be focused on TV and movies, the other on newspapers and publishing.

CAPITAL PLANS: Investors are curious as to what the company will do with its $9.3 billion in cash once it splits in two. Investor days are planned soon.

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