NEW YORK — Rupert Murdoch’s News Corp. reported that its fiscal ’93 profit soared 57%, bolstered by strong showings from its TV, newspaper and magazine units, which more than offset the lackluster performance of its Hollywood studio , 20th Century Fox Film Corp. The Australia-based media and entertainment behemoth posted net earnings of $ 605.2 million for the fiscal year ended June 30, up from $ 384.5 million last year. Revenue slid 4% to $ 7.48 billion.Matsushita net slides 23% in 1st NEW YORK Slow demand and a soaring yen hampered first-quarter operating results at MCA/Universal parent Matsushita Electric Industrial Co. For the three months ended June 30, sales and income before taxes each decreased 7%, while net income plunged 23% to $ 63 million from $ 81 million last year. BMG spins 20% sales gain HOLLYWOOD Bertelsmann Music Group reported a 20% increase in sales for its fiscal year ending June 30, claiming revenue of $ 3 billion. The music and entertainment division of German media giant Bertelsmann AG said that sales outside the U.S. of $ 2 billion were attributable to the worldwide success of its Arista Records label, the development of joint venture partnerships and the rise of BMG Direct, the company’s domestic U.S. club business. Trimark soars NEW YORK Independent producer/distributor Trimark Holdings announced significantly improved operating results for its fourth quarter and fiscal year ended June 30. For the quarter, net earnings were $ 1.4 million, compared with $ 166,000 a year earlier; net revenue soared 70% to $ 19.8 million. For the year, net revenue was $ 60.6 million, compared with $ 54.4 million; net earnings climbed 50% to $ 3.3 million.
Want Entertainment News First? Sign up for Variety Alerts and Newsletters!
- Petrol Advertising, Burbank, California
- Company Confidential, New York, New York
- Entertainment Partners, New York City, New York
- University of California, Los Angeles, Los Angeles, California
- Drexel University, Philadelphia, Pennsylvania