News Corp. reported lower earnings and revenue in its fourth quarter as the global media giant controlled by Rupert Murdoch struggles to manage the financial fallout from a devastating phone-hacking scandal at its British publishing subsidiary.
For the April-June quarter, News Corp. reported a net loss of $1.6 billion, or a loss of 64 cents a share. That compared with a $683 million profit, or 26 cents a share, for the fourth quarter of 2011.
The quarterly results included a $2.9-billion pre-tax impairment and restructuring charge, primarily related to the company's publishing businesses.
The company took a $224-million charge for the 2012 fiscal year for costs associated with ongoing investigations over the bribery and phone-hacking scandals at its now-shuttered London tabloid News of the World.
The company said it generated revenue of $8.4 billion, a decline of 7%, from the nearly $9 billion it took in during the year-earlier period. Strength at the company's key cable TV networks, including FX and Fox News Channel, were weighed down by issues elsewhere in the company.