Blue Chip Shares News Corp (NWS)

News Corp (NWS) | Blue Chip Shares | ASX Blue ChipNews Corp (NWS) is a diversified media conglomerate with interests all over the world and in most facets of media.

NWS thus has a wide range of household name services and assets under its belt, including Fox Filmed Entertainment, Twentieth Century Fox Television, Fox Sports, book publisher Harper Collins, the New York Post in the US, web services Photobucket and MySpace, and Dow Jones.

The group is also considered a blue chip stock among global investors and is one of the biggest companies in the Australian share market.

Last week, NWS advised that third quarter net profit fell 24% from a year earlier to $639 million.  The profit result missed analyst estimates.

The result came on the back of a 6% decrease in revenue, which NWSattributed to weakness in its filmed entertainment and publishing divisions.

However, the cable division was a bright spot, with operating earnings rising 25% on-year amid stronger advertising revenue.

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