News Corp. to Meet Target, Murdoch Says

Rupert Murdoch said his News Corp. global media empire is on track to repeat its record earnings performance. Speaking at a shareholders meeting in Adelaide, Australia, Murdoch said that News Corp. should meet its operating income target for the 2003-04 fiscal year. In August, News Corp. said it expected full-year operating income growth to be in the range of high single digits to low double digits.

Murdoch also expects regulatory approval for the planned purchase of a controlling stake in El Segundo-based Hughes Electronics Corp. to be approved within weeks, giving it a stake in satellite television company DirecTV.