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Home>>Business >> World Business >> Americas
08:06, February 06, 2009

News Corp. loses $6.4 bln


News Corp Chief Executive Rupert Murdoch leaves the New York Stock Exchange October 10, 2008. (Xinhua/Reuters File Photo)

New Corp., Rupert Murdoch's media giant, reported Thursday a 6.41 billion U.S. dollar loss in the second quarter of its fiscal year.

The company, which owns Dow Jones & Co., movie studio 20th Century Fox and the Fox broadcast network, said its second quarter results were impacted by 8.4 billion dollars in one-time charges, including a write down of the value of its Federal Communications Commission licenses.

Excluding the 8.4 billion dollars asset write-down and other factors, the company said its net income in the three months to Dec. 31, 2008 was 320 million dollars, or 12 cents per share.

In the same period of previous year, the company had net income of 832 million dollars, or 27 cents per share.

"Our results for the quarter are a direct reflection of the grim economic climate," Murdoch said in a statement.

"While we anticipated a weakening, the downturn is more severe and likely longer lasting than previously thought," he added.

Source: Xinhua

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