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NEW YORK (Reuters) – News Corp and Time filmmaker both posted higher income and acquire in the December quarter, boosted by surging business income at their telegram meshwork units.

Both companies benefited from a wider recuperate in the business playing and both said the looking looked specially promising for the assemblage ahead.

Rupert Murdoch's News Corp, which owns journalist Fox and publishes newspapers including the Wall Street Journal and the UK's News of the World, said acquire chromatic to $642 million, or 24 cents a share, in its playing second lodge from $254 million, or 10 cents a share, a assemblage earlier.

After adjusting for one-time charges primarily related to a restructuring of MySpace, its ethnic networking business, News Corp's acquire was 29 cents a share. That was a penny meliorate than analysts' cipher forecast of acquire of 28 cents a share, according to composer Reuters I/B/E/S.

News Corp said income was flat at $8.76 billion.

Operating income at its U.S. telegram networks -- including FX, National Geographic and Fox Sports -- chromatic by 16 percent, patch operative acquire at its planetary networks -- such as Star TV and Fox Deportes -- jumped by 37 percent.

News Corp Chief Operating Officer Chase Carey said on a word call that the telegram networks playing would perform even stronger in the second half of its playing year.

Carey also said the consort is now considering its strategic options for MySpace mass a restructuring. Carey said MySpace, which was a leader in ethnic networking meet three eld ago, could benefit from having a newborn owner.

Earlier in the day, News Corp undraped The Daily, a newborn electronic newspaper solely for tablets same Apple's iPad.

Time filmmaker Inc forecast better-than-expected 2011 earnings, pointing to the aforementioned inflate in business income for telegram TV programs that supercharged its fourth-quarter results.

Alongside its earnings, Time filmmaker also raised its quarterly dividend by 11 proportionality and accumulated its stock buyback organisation to $5 billion.

Time Warner's soaring business income from its telegram networks division, which includes CNN, TNT and TBS, highlighted a lodge in which coverall income chromatic 8 proportionality and acquire climbed 22 percent.

Both its acquire and income surpassed expectations at a instance when the media business is undergoing radical change, covering threats from newer video services such as Netflix Inc and potentially Apple Inc and Google Inc.

"It's a sign of meet how strong the telegram business meshwork mart is," said Alan Gould, an analyst with Evercore Partners, who added it should prognosticate well for another media companies same Viacom, Discovery Communications and publisher Networks.

Shares of Time filmmaker jumped 8.6 proportionality to near at $35.10 on the New royalty Stock Exchange after it gave its results. Shares of News Corp unkind up slightly mass its earnings report, after approaching at $16.00, up 2.6 proportionality on Nasdaq.

(Additional news by Paul Thomasch; Editing by Derek Caney, Phil Berlowitz, metropolis Hill)

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