News Corporation posts $1.6bn loss as phone-hacking legal fees stack up
Guardian UK - News Corporation made a loss of $1.6bn (£1.2bn) in the last quarter as it absorbed $2.8bn in charges related to a plan to spin off its ailing publishing businesses.
The loss compared with a profit of $683m in the same period a year ago and came as revenues dipped 6.7% to $8.4bn, hit by a slide in audiences for TV shows including American Idol and disappointment at the box office for its Hollywood studio. The results were below analysts' expectations and the company's shares fell in after-hours trading. Read more.
The loss compared with a profit of $683m in the same period a year ago and came as revenues dipped 6.7% to $8.4bn, hit by a slide in audiences for TV shows including American Idol and disappointment at the box office for its Hollywood studio. The results were below analysts' expectations and the company's shares fell in after-hours trading. Read more.
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