Tiny violins alert: NewsCorp (parent of Faux) says its profits are dropping....

[marmar]

:nopity: :nopity: :nopity:



News Corp's Sydney shares fall 21% after warning

By Chris Oliver, MarketWatch

HONG KONG (MarketWatch) -- Sydney-listed shares of News Corp. ended more than 21% lower Thursday, after the media conglomerate cut its fiscal 2009 profit outlook due to the fallout from the economic crisis and its impact on TV and newspaper advertising sales.

Operating income in fiscal 2009 will decline by a percentage in the low to middle teens from $5.13 billion in fiscal 2008, New Corp's Chief Financial Officer Dave DeVoe told analysts during a Webcast late Wednesday in New York.

News Corp. shares fell A$3.40, or 21.4%, to A$12.50 on the Australian Stock Exchange.

The media conglomerate also said Wednesday fiscal first quarter net income fell 30% to $515 million, compared to $732 million in the year ago period.

News Corp. acquired MarketWatch , The Wall Street Journal, Barron's and other media assets in its December 2007 purchase of Dow Jones & Co, and is the publisher of this report.


http://www.marketwatch.com/news/story/News-Corps-Sydney-shares-fall/story.aspx?guid=%7BCFA7597E%2DF472%2D4CEA%2DB434%2DD842A6F2345C%7D

[NC_Nurse]

1. They could save some money by firing Hannity. He's gone off the deep end.

[shotten99]

2. Isn't that the truth?

I'm expecting to see him foam at the mouth and beat his head into his desk.

[ProfessorGAC]

3. I'd Like To See The Second Part

And i'd like to see it until he passes out.
The Professor

[SoCalDem]

4. Great news.. "starve the beast"..and then Rupert might start selling off his "stuff"

People need to rise up and STOP supporting those nasty obnoxious venues..

don't click on the websites, don't buy their papers, don;t watch them or ever buy anything they advertise..

cut their revenues..

No matter their philosophy, most of them "understand" the bottom line (except for the Moonie Times)

[Historic NY]

5. Lets all help them down some more by boycotting all their stuff..

completely.