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May 8, 2009

Newscorp takes a hit, but worst is over


by David Allen

As company results come in, it gives the rest of the world a chance to see how businesses are coping with financial challenges and one company that can be used as a gauge for the state of the world economy is News Corporation.

To highlight the situation the company’s figures for the first three months of the year showed earnings from newspapers of $7 million, but for the previous year these figures were $216 million, showing a drop in income of around seventy per cent.

News Corp, whose interests include BSkyB and the Fox network, may be suffering from the hit, but according to the boss Rupert Murdoch it is optimistic about the future, claiming that revenues from advertising are actually beginning to come back, showing that it is possible that the worst is over.

Story link: Newscorp takes a hit, but worst is over


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