News Summary: News Corp 3Q earnings top forecasts

News Summary: News Corp 3rd-quarter profit tops estimates despite hacking probe costs

Associated Press

QUARTER TOPPER: Rupert Murdoch's News Corp., under fire for phone hacking in Britain, said its third-quarter net income grew 47 percent with higher revenue from movies and from pay TV distribution fees and advertising. Its adjusted earnings of 37 cents per share beat the 31 cents expected by analysts.

SCANDAL CHARGES: Legal bills from the phone hacking scandal hit $63 million during the quarter and grew to $167 million over nine months.

BSKYB QUESTION: COO Chase Carey said the company prefers to control businesses or sell its minority stakes. Its 39 percent stake in British Sky Broadcasting is in question because of the hacking probe. But Carey said the company is "comfortable staying the course" for now.

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