Print    Email

Email To		[Close]
		You must make entries in all fields
Your Email
Your Name
Send to Email
		Send

News Corp, the global media conglomerate headed by Rupert Murdoch has posted a net loss of $1.6 billion for the fourth quarter of the financial year. This was against the company’s net income of $683 million a year ago.

The company informed that the mounted loss is due to the $2.9 billion of non-cash restructuring and impairment charges for its publishing businesses. News Corp had announced intent to pursue separation of media and entertainment and publishing businesses in June this year.

The quarterly revenue decreased to $8.4 billion, as compared to the $9.0 billion of revenue reported a year ago.

Cable Network Programming division of the company reported quarterly segment operating income of $792 million, a $161 million, or 26%, increase over the prior year quarter, driven by a 15% increase in revenue.

Television segment reported quarterly segment operating income of $213 million, a decrease of $20 million versus the same period a year ago.

SKY Italia generated quarterly segment operating income of $89 million, compared to $145 million of operating income reported in the same period a year ago.

For full year, News Corp reported a full year total segment operating income of $5.4 billion on revenue of $33.7 billion; full year adjusted total segment operating income increased 13% to $5.6 billion.

The full year results included a $224 million charge related to the costs of the ongoing investigations initiated upon the closure of The News of the World.