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News Corp. posts big profits despite hacking investigation

The News Corp.-owned
The News Corp.-owned "Wall Street Journal."
Paul J. Richards/AFP/Getty Images

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Last summer, News Corp. Chairman Rupert Murdoch and his son James appeared at a televised British Parliamentary hearing to defend themselves against allegations they knew that at least one of their newspapers was hacking into voicemails. It turned out to be a widespread practice. Since then, News Corp. has paid out millions of dollars in settlements and other costs, and it might only be the beginning.

Despite the ongoing investigation and accompanying legal costs, News Corp. reported their income rose to more than $1 billion in the final three months of 2011, according to the Wall Street Journal.

NPR Media correspondent David Folkenflik joins the show with more.