Any news?, page-16

  1. 1,047 Posts.
    Spin machine in action.

    Future looks good, past looks average.

    mmmm interesting trading tonight I think.

    NEW YORK, Aug 14 (Reuters) - News Corp. (NYSE:NWS - News; Australia:NCP.AX - News) expects fiscal 2003 operating income growth in the high-teens to low-20s percent range amid improvement in most of its divisions as the advertising market recovers, Chief Financial Officer David DeVoe said on Wednesday.
    "The early August indicators are good," DeVoe said in a conference call with analysts. "We remain cautiously optimistic." The company's fiscal year 2003 began on July 1.

    DeVoe said he expects earnings before interest, taxes, depreciation and amortization -- a key measure of cash flow -- for News Corp.'s Fox Entertainment Group Inc. (NYSE:FOX - News) to grow 25 percent to 30 percent in fiscal 2003.

    News Corp. chief Rupert Murdoch said on the conference call that he and DeVoe would be certifying under oath the financial results of News Corp. and Fox, in accordance with new U.S. securities rules.

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