News Corp., Fox Entertainment Exceed Expectations

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News Corp.

(NWS) - Get Report

posted second-quarter earnings that beat analysts' expectations, and the company's

Fox Entertainment

(FOX) - Get Report

unit also reported results that topped projections.

For the second quarter, Rupert Murdoch's News Corp., which is based in Sydney, earned $270 million, or 26 cents per American depositary receipt, compared with $252 million, or 25 cents per ADR, in the same period last year. Analysts polled by

First Call/Thomson Financial

expected earnings of 19 cents a share for the quarter.

Revenue was $3.85 billion, slightly below the $3.86 billion a year ago.

Fox, which is based in New York posted second-quarter earnings, excluding a restructuring charge, of $94 million, or 13 cents a share. The results were unchanged from the same quarter a year earlier. Analysts expected earnings of 8 cents a share.

Fox said revenue for the quarter rose to $2.50 billion, up from $2.44 billion a year ago.

Shares of News recently climbed $1.60, or 4.3%, to $39.10, while Fox gained 42 cents, or 2%, to $21.28, both in trading on the

New York Stock Exchange

.

Reports begain circulating yesterday that merger talks between

Hughes Electronics

(GMH)

and News Corp. have intensified, leading the two sides to believe that they could reach a deal within the next few weeks.