Rupert Murdoch has promised to move forward with "integrity" as News Corporation reported a full year operating profit of $US4.98 billion, an increase of 12%.
In a statement accompanying News Corp's fourth quarter and full year financial results, chairman and chief executive Rupert Murdoch conceded the company has faced recent challenges as a result of the phone hacking scandal in the UK.
Murdoch has pledged "integrity" as interrelated and critical to the goals of News Corp. He said: "Our fundamental goals at News Corp are to produce sustained, meaningful value for shareholders, provide outstanding content and services to customers and consumers - and do it all with integrity. These goals are interrelated and all three are critically important. And we will deliver on them."
"While it has been a good quarter from a financial point of view, our company has faced challenges in recent weeks relating to our London tabloid, News of the World. We are acting decisively in the matter and will do whatever is necessary to prevent something like this from ever occurring again.
"It is important to note that there has been no material impact on our other operations. Our broad, diverse group of businesses across the globe is extremely strong today. The drivers of our businesses are intact, our position is strong and our future is promising."
News Corp reported a financial year operating profit of $US4.98 billion, a 12% increase from $US4.46 billion the previous year. The increase was driven by growth in its television operations, while losses at fledgling social network Myspace hit the bottom line.
In July, News Corp announced the sale of Myspace to digital media company Specific Media and Justin Timberlake for reportedly under $US40 million. It was purchased in 2005 for $US580 million.
The $US4.98 billion figure excludes a $US125 million pre-tax charge due to a legal settlement.
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