News Corp, Time Warner helped by movies, cable

News Corp, Time Warner helped by movies, cable

NEW YORK (Reuters) - News Corp and Time Warner Inc reported higher-than-expected quarterly profit as movie studios and cable network gains helped offset declines at their newspaper and magazine units.

Both News Corp and Time Warner, which have been cutting costs to keep ahead of falling revenue, raised their forecasts, and News Corp Chief Executive Rupert Murdoch said he expected 2010 to be a year of stability.

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