News Corp registers $1.6 billion loss

[Hum]

Rupert Murdoch's News Corp has swung to a loss partly due to the weakness of its publishing business, which includes newspapers like the Times and the Sun.

The fourth quarter net loss was $1.6bn (?1bn) compared with a net income of $683m in the same period last year.

The loss included a $2.9bn pre-tax restructuring charge.

The company plans to split into two, separating its profitable film and TV business from UK newspapers, embroiled in a phone-hacking scandal.

"News Corporation is in a strong operational, strategic and financial position, which should only be enhanced by the proposed separation of the media and entertainment and publishing businesses," Mr Murdoch said.

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[theyarecomingforyou]

The loss is because of restructuring, no doubt an attempt to minimise tax liability. Unfortunately it's unlikely we'll see the organisation going bankrupt any time soon, even though they deserve it for the appallingly biased "news" they put out.

[Hum]

^ You just need to look at a few sources to see if a story is 'biased'. :laugh:

[Pam14160]

The loss is because of restructuring, no doubt an attempt to minimise tax liability. Unfortunately it's unlikely we'll see the organisation going bankrupt any time soon, even though they deserve it for the appallingly biased "news" they put out.

What they don't report the news in a way that is more satisfifing to you. . .HMMMMMMMMMMMMM!

[Glassed Silver]

Awww... poor them...

Not shocking how they got to make such a loss, but still liked the figure. :p

Glassed Silver:win

[tiagosilva29]

Don't post anything, they are trying to hack your phones.

[Hum]

^ That's why I always begin and end my conversations with 'Rupert Murdoch'. :shiftyninja: