newspaper woes send murdochs news corp into red
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Newspaper woes send Murdoch's News Corp into red

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleNewspaper woes send Murdoch's News Corp into red

sign is seen outside News Corporation building in New York
New York - AFP

US media group News Corp on Thursday reported a loss in the past quarter, hit by declines in advertising and writedowns at its global newspapers.

The company controlled by media mogul Rupert Murdoch and his family reported a loss of US$430 million in the fiscal quarter ending June 30.

Revenues slipped 6.6 per cent from a year ago to US$2.08 billion.

The group, which operates the Wall Street Journal as well as British and Australian newspapers, also took a hit from the strong dollar.

News Corp was required to take a charge of US$464 million to mark down the value of its assets at British newspapers, the company said.

The news and information unit saw a 10 per cent drop in revenue in part “due to weakness in the print advertising market,” the company statement said.

It said digital accounted for 26 per cent of segment revenues in the quarter, helped by gains in online subscriptions to the Wall Street Journal, which now has more than 1.2 million paid subscribers.

The group also operates the HarperCollins publishing house and has digital assets including the realtor.com real estate website.

The company retained most of the print operations of the original News Corp when it was broken up in 2013 into two separate firms as part of a plan to “unlock value” for shareholders.

The breakup led to the creation of a separately traded 21st Century Fox, which includes most of the film and television properties in the Murdoch empire.

Murdoch, 86, began a gradual withdrawal from both companies in 2013, and now shares the title of chairman with his eldest son Lachlan at both firms.

source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

newspaper woes send murdochs news corp into red newspaper woes send murdochs news corp into red

 



Themuslimchronicle, themuslimchronicle

GMT 15:49 2017 Tuesday ,04 April

Europol, Georgia sign pact to combat terrorism

GMT 17:34 2017 Saturday ,19 August

India rail accident kills 10

GMT 07:44 2017 Saturday ,19 August

Firms flock to Syria fair with eye on reconstruction

GMT 18:11 2016 Saturday ,03 December

Congress and Trump agree to turn the heat up on Iran

GMT 13:12 2017 Tuesday ,05 December

Lebanon's PM Hariri withdraws his resignation

GMT 08:39 2017 Friday ,17 November

Baidu speeds up AI progress

GMT 03:33 2017 Tuesday ,21 February

Deadly blast strikes demonstration in Kabul

GMT 10:04 2011 Sunday ,11 September

Vauxhall/Opel to unveil 2-seat electric car at IAA

GMT 05:16 2016 Tuesday ,30 August

Fukushima Nuclear Plant Prepares for Typhoon

GMT 20:05 2011 Saturday ,27 August

Egyptair resumes Baghdad flights after 21 years

GMT 19:35 2011 Tuesday ,26 July

Ozil : Real \'more mature\' this season

GMT 05:41 2017 Thursday ,09 March

El Jaish Win Qatar Men's Basketball League

GMT 22:04 2011 Thursday ,08 September

Museum of the great syrian revolution monument

GMT 11:15 2015 Thursday ,01 October

Thuraya's CEO named Satellite Executive Of 2015

GMT 14:08 2016 Wednesday ,16 November

Scientists fear the worst under a Donald Trump presidency

GMT 10:28 2017 Wednesday ,12 April

New York $40mn attraction puts world in miniature

GMT 23:41 2017 Wednesday ,12 April

Easier visa regime to boost Oman tourism

GMT 17:48 2012 Monday ,09 January

Business trip: Dubai

GMT 01:34 2017 Tuesday ,11 April

Oman takes part in Arab Labour Conference in Egypt

GMT 15:20 2017 Monday ,05 June

Libya cuts all diplomatic ties with Qatar
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle