News Corp up despite scandal
Rupert Murdoch has said he will do "whatever is necessary" to prevent the phone hacking scandal occurring again, as his News Corporation conglomerate reported a rise in annual profits to $2.74bn (£1.7bn).
The media mogul said the scandal, which saw the closure of the News Of The World last month, had no impact on the other arms of the business.
News Corp said profits for the year ending in June were $2.74bn compared to $2.54bn (£1.6bn) the previous year.
News Corp made a net income of $683m (£420m) in the three months to June 30. In the same period in 2010, net income was $875m (£539m).
Mr Murdoch said: "While it has been a good quarter from a financial point of view, our company has faced challenges in recent weeks relating to our tabloid, News Of The World.
"We will do whatever is necessary to prevent something like this from occurring again."
He said that one of the fundamental goals at News Corp was to "provide outstanding content and services to customers and consumers - and do it with integrity".
Investors will have to wait for the next quarter to see how the closure has affected profits.