News Corp. Reports Higher Profit: Rupert Murdoch's parent company of the Fox film and TV studio reported that fiscal first-quarter operating profit rose 21% to $175 million on revenue that increased 7% to $1.8 billion. News Corp. said operating profit at its Fox film division soared 150% due to theatrical releases that included "Rookie of the Year" and the home video release of "Home Alone 2: Lost in New York." The company said profit for the Fox Network slipped due to expansion plans. In the United Kingdom, newspaper profit was off 15% due to price cutting at the Sun and the Times newspapers, but weekly profit was up 30% at half-owned BSkyB satellite broadcaster. Newspaper earnings improved in both Australia and Hong Kong.