News Corp. (NWS) could be a prefered stock after an improved performance

News Corp. (NYSE: NWS) reported a higher-than-expected quarterly profit for September as gains at its Fox cable network and film divisions, apart from cost cuts helped offset declines at its television stations and print media business slowdown.

News Corp. (NWS) stock, which closed at $13.65 on Wednesday, is close to bracing its 52 week high of $15.24, and could move up on Thursday on a better guidance for future.

News Corp. (NWS), a Rupert Murdoch managed entity, mentioned that it hopes the forthcoming year 2010 to be a period of more stability, after some writedowns last year.