News Corporation headquarters in New York
Media playback is unsupported on your device

News Corp profits increase as hacking scandal costs soar

Rupert Murdoch's News Corporation says the phone hacking scandal at the News of the World cost it £65m in the second half of the year.

Around £10m of that went to victims claiming compensation - and the rest was spent on lawyers and consultants.

It comes as the company announced profits of 65% on Thursday.

Radio 5 live Wake Up To Money spoke to Theresa Wise, an independent media analyst about the results.

To hear other 5 live interviews, please visit the best bits page.

Wake Up To Money broadcasts weekdays 05:30 to 06:00 on Radio 5 live.

Go to next video: Coogan reaches hacking settlement