News Corp records £2bn loss

[Newsjock]

Source: The Guardian

Rupert Murdoch's global media empire, News Corporation, slumped to a $3.4bn (£2bn) net loss for the 12 months to June as a combination of plunging advertising revenue, impairment charges and online losses contributed to the company's worst year in recent memory.

The group suffered hefty accounting charges related to a drop in the value of its assets. After stripping out these one-off items, its full-year operating profit dropped by 32% to $3.6bn, with growth in revenue at the group's cable television networks failing to make up for a slump in income from films, newspapers, books, magazines and online offerings.

Murdoch said: "The past year has been the most difficult in recent history, and our 2009 financial performance clearly reflects the weak economic environment that we confronted throughout the year."


Read more: http://www.guardian.co.uk/business/2009/aug/05/news-corp-losses

[Norrin Radd]

1. Well deserved loss.

[Vincardog]

2. Maybe Murdoch should quit publishing and broadcasting Reich Wing Bull$hit

[Demeter]

3. If He Printed NEWS, People Would Riot to Buy It

But NEWS is kept for little high-priced cliques, these days. And even so, those cliques are getting propaganda more often than NEWS, anyway.

[Politicalboi]

4. Poor Billionaire

:cry:
Can you imagine a world without Faux Noise? Where would we ever find truth and balance? Who would call me a great American again? Damn Liberal media. You don't know what you've got till it's gone. LOL!

[Crowman1979]

5. Great News! Can't wait for more losses!

The few days before Faux News goes off the air will be like the last days of Hitler.

[fascisthunter]

6. man, that must hurt

good

[blueclown]

7. Today is a great day.

If only for this news..

[Fearless]

8. 'Scuse me whilist I warm up the band...

:nopity: :nopity: :nopity: :nopity:
:nopity: :nopity: :nopity: :nopity:
:nopity: :nopity: :nopity: :nopity:
:nopity: :nopity: :nopity: :nopity:
:nopity: :nopity: :nopity: :nopity:

[Moostache]

9. If only that meant Murdoch was going to change things there...

"Some say" that falling standards, plummeting necklines and increasing vapidity on the airwaves have contributed to the precipitous losses for News Corp. When reached for comment, not a single on-air character from the Company's sit-com "Fox News Network" would comment on the record...

Or, as my grandmother used to love to tell us as kids...its always fun until someone loses and eye....or $3.6 Billion!

[The Second Stone]

10. We really should have a prominently posted list

on DU of which advertisers pay for Murdoch's lies so that we can avoid them.

[Aragorn]

11. If you watched and/or read their stuff you could compile one

but please, don't change now.

Seriously I hope this is a trend but it sounds more like an accounting trick so far.

[corpseratemedia]

12. ugly looking POS murdoch the murderer

of course, HE won't pay for the loss. Ugly scab-tard.

no I'm not in a good mood but glad his corp. lost lots of value

[stlsaxman]

13. Yaaaaaaayyyyyyyy!!!!!!!!

:bounce: :toast: :evilgrin: :nopity: :kick: :fistbump: :headbang: :woohoo: :applause: :rofl: :spray: :patriot:

[edbermac]

14. And Bill-O is frothing at the mouth about GE right now.

Nothing to see here, move along...

[EFerrari]

15. Good.

[Vidar]

16. Good news, but unfortunately the ass can afford it.

[BumRushDaShow]

17. Drudge blaring siren headline material!

Oh wait...

:rofl:

[berni_mccoy]

18. Even RimJob at Freeperville is feeling this. He's been running his quarterly fundraiser the entire

quarter now! :rofl:

[Arugula Latte]

19. Murdoch -- Follow the Japanese example. Commit seppuku.

It's the only honorable thing left for you to do.

[DCKit]

20. I'm thinking Rupert's economic downturn coincides with the last election.

It's hard to schill for the fascists after the people have decided they've had enough. Hell, the Wall Street Journal lost all credibility the day he bought it and probably half their subscribers, to boot.

Nobody I know has FNC enabled on their satellite or cable. However, our local FOX station in DC is great - all news, no spin and a healthy market share.

[Fridays Child]

21. This is the feel good story of the day!

[Turborama]

22. Good, let's hope this is the beginning of the slippery slope into bankrupcy!

:kick: & R

[Hawkowl]

23. DIE Fascist swine!!

I look forward to the bankruptcy of Murdock and his ilk.

[leveymg]

24. No TARP money for you, Rupert. You can always turn off FoxNews to save a buck.

:evilgrin: