News Corp takes another $67m hit on phone-hacking investigations

News Corp has set aside a $67m charge for costs relating to the phone-hacking scandal in its latest set of quarterly results.

The Wall Street Journal, which is owned by News Corp, reports the $67m charge relates to the ongoing investigation allegations of wrongdoing at UK subsidiary News International.

It comes after News Corp announced in August that it spent $224m on internal investigations last year.

Last night the company announced it had trebled profits – thanks largely to growth in its cable networks business – from $786m to $2.3bn.

Total revenue was up 2 per cent year on year to $8.1bn.  

In June, News Corp announced it was splitting its newspaper business and entertainment operations into two separate companies.

The move will see the group's 39 per cent stake in broadcasting giant BSkyB separately listed from the UK newspapers.

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