News Corp. Goes Deep into Red with $6.4 Billion Net Loss
Media Post, February 5, 2009
By Wayne Friedman
On the heels of an $8.4 billion write-down of assets, News Corp. stumbled across the financial reporting line with $6.4 billion lost for its fiscal second quarter. Its TV stations business profits declined 44 percent, while its news and information services fell 9 percent. The bright spot was the company's cable networks, including Fox News.
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