Rupert Murdoch’s News Corporation has reported to have earned more than double the profits in its latest quarter over the same period previous year, largely attributed to the acquisition of stakes in cable networks in Australia and Asia. The media empire’s net income for the three months to December came in at $2.38bn (£1.52bn) compared to $1.1bn (£0.70bn) in the same period a year earlier, on sales up 5% to $9.4bn (£6bn)….

Virgin Media has found a suitable buyer for itself in a cash and stock deal worth $23.3bn (£15bn) from US billionaire John Malone’s cable group, Liberty Global, which will be offering $47.87 (£30.57) per share, in an effort to create the UK’s second biggest pay-TV business after BSkyB. The Virgin Media-Liberty Global deal, which is yet to garner shareholders’ support and regulatory approval, will place John Malone very close to Rupert Murdoch, whose media empire owns…

Latest James Murdoch news is that he has been re-elected as director of BskyB with the backing of 95% of shareholders at the company’s annual general meeting. No repeat telecast of last year’s rebellion over his gross mishandling of the News of the World phone-hacking scandal occurred this time. Strangely, James Murdoch’s re-appointment was opposed by just 4.96% of the company shareholders who voted, with one investor John Marshall calling him as “toxic”, and saying that his presence…

The phone hacking scandal refuses to die down as it spreads further from the Rupert Murdoch-owned News International to the Daily Mirror and The People tabloid newspapers now, as four individuals issued High Court claims against the these publications on Monday. One of the claimants in the case is former England football manager Sven-Göran Eriksson, who has pushed a case against the Daily Mirror, alleging the Daily Mirror to be…