The Future of Print

News Corp. loses $6.4 billion in 2Q

Posted in Doom by futureofprint on February 5, 2009

LOS ANGELES (AP) — News Corp., the global media giant controlled by Rupert Murdoch, said Thursday it lost $6.4 billion in its most recent quarter because of a massive write-down in the value of its assets.

The New York-based company, which owns The Wall Street Journal and the Fox broadcast network, also forecast a 30 percent drop in operating profits for the fiscal year to June from a year ago, when it earned $5.13 billion.

via News Corp. loses $6.4 billion in 2Q: Financial News – Yahoo! Finance.

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