News Corp with further decline in sales
Revenue at media conglomerate News Corp continues to decline. Revenue fell by a surprisingly sharp 7.3 percent to $1.89 billion at the start of the year, marking the fifth consecutive quarter of decline, the publisher of The Wall Street Journal announced on Thursday.
The reasons for this were a weaker advertising business and the strong dollar, which had a negative impact on international business. In the core business with news and information, which also includes the New York Post and the British newspapers Times and Sun, sales fell by nine percent. In the publishing division, it fell by eleven percent.
A special charge due to the settlement of a legal dispute also pushed media mogul Rupert Murdoch's company into the red. The bottom line was a loss of 149 million dollars after a profit of 23 million dollars a year ago. (SDA)
