The results to the end of December include a one-time $500m pre-tax charge related to the settlement of litigation filed against its Integrated Marketing Services business.

The company reported second quarter net income of $254m compared to a net loss of $6.4bn in the second quarter a year ago.

Excluding the net income effects in both years of one-time items - principally the litigation charge this year and the impairment charge last year - second quarter adjusted earnings per share1 this year are $0.25 as compared to the year ago result of $0.15.

It said the results reflect growth at the Filmed Entertainment, Television, Cable Network Programming, Newspapers and Information Services and Book Publishing segments, partially offset by decreases at the Direct Broadcast Satellite Television and Other segments.

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