Bookmark this page

Subscribe to Latest National News

↑ Grab this Headline Animator

 
India4u News   
 World News
 National News
 Entertainment News
 Business News
 Sports News
 Education News
 Health News
 Politics News
 Travel News
 Special Reports
 Press Releases
 - News
 - Photos
 - Videos
News Central
 
General News
 The Hindu
 Indian Express
 The Telegraph
 Times of India
 Deccan Herald
 Hindustan Times
 IBN Live News
 DNA Top News
 Indias News
 
Sports News
 The Hindu Sports
 Espn Star Sports
 Sify Sports
 
Regional News
 The Navhind Times
 Milligazette News
 
Business News
 Business Line
 Financial Express
 Economic Times
 Business Standard
 IBN Business
 Sify Finance
 
Entertainment News
 Kollywood Cinema
 Sify Movies
 IndiaDaily Bollywood
India4u News
News Corp publishing arm lost $2.08 bln last year
Posted online: Saturday, December 22, 2012 at 4:14:24 PM

London, Dec 22 : Media tycoon Rupert Murdoch's publishing operations would have lost 2.08 billion dollars as a standalone company last year, News Corporation has said.

The News Corp. revealed the full extent of the financial troubles at its newspaper and books businesses.

The publishing business was hit by 2.8 billion dollars of "impairment and restructuring" write-downs, following the phone hacking scandal at News International, last year, the Telegraph said.

In addition to NI, publisher of The Times and The Sun, the "new News Corp" will include America's Wall Street Journal, Dow Jones newsire, book publisher HarperCollins and News Corp's education arm, the paper added.

According to the paper, the firm's poor performance continued into the current financial year, when the publishing company would have lost 92 million dollars as a standalone division, compared to 38 million dollars profit the previous year.

That was also largely because of a restructuring charge, and legal fees relating to the hacking scandal, the paper said.

Profits across the entire News Corp group have also fell to 782 million dollars from 1.2 billion dollars in the year to 30 June, led by a 19 percent drop in earnings before interest, tax and depreciation at the newspaper and books business, it added.

Source-ANI

Bookmark this page

News Archive



World News


Pakistan releases 36 Indian prisoners as goodwill gesture
(9 hrs ago)


'Darth Vader' more popular than potential candidates for 2016 US presidential election
(12 hrs ago)
....More
National News


Preparations underway for PM Modi's Assam rally
(6 hrs ago)


No celebrations outside gate on Mahendra Pratap's birthday, says AMU VC
(6 hrs ago)
....More
Business News


European MPs in favour of splitting Google's search engine from rest of its business
(12 hrs ago)


India, Mozambique sign MOU on cooperation in field of oil and gas
(13 hrs ago)
....More
Sports News


Anil Kumble extends condolences to Phillip Hughes's family
(7 hrs ago)


Waugh says Hughes was 'destined' for greatness
(9 hrs ago)
....More
Health News


Bitter compounds in cucumber may help treat cancer, diabetes
(13 hrs ago)


Thanksgiving day turkeys can also be 'lifesavers'
(61 hrs ago)
....More
Entertainment News


Zayn Malik's sis brands 1D fans as 'psychotic'
(10 hrs ago)


Karisma Kapoor launches jewellery line in Mumbai
(11 hrs ago)
....More


Subscribe to Latest National News

↑ Grab this Headline Animator

About this Site | Advertise on india4u | Feedback | Contact | Sitemap
Designed, Hosted & Managed by FrontPoint Systems
Copyright (c) 2000 to 2014. All rights reserved.