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The media conglomerate controlled by Rupert Murdoch reported Wednesday that its earnings more than tripled in the latest quarter on a one-time gain of $1.7 billion from a stock exchange with Liberty Media Corp.

The owner of Twentieth Century Fox, Fox News Channel and Dow Jones & Co., publisher of The Wall Street Journal, earned $2.69 billion or 91 cents per share, versus $871 million or 27 cents per share a year ago.

Revenue rose 16 percent to $8.75 billion from $7.53 billion

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