November 6, 2008 |
News Corp. said its first-quarter net income fell 30% from a year earlier because of a large write-down and a drop in ad revenue at its TV stations. Net income at the company run by billionaire Rupert Murdoch fell to $515 million, or 20 cents a share. A year earlier, net income was $732 million, or 23 cents. Revenue rose 6.3% to $7.5 billion. Operating income fell 9% to $953 million, compared with $1.1 billion reported a year earlier. Analysts surveyed by Thomson Reuters expected first-quarter earnings per share to fall 2% to 23 cents on revenue of $7.7 billion, 8% higher than a year earlier.
June 17, 2008 |
MySpace can collect $6 million from a notorious Internet marketer accused by the popular online hangout of spamming its users. An arbitrator has ruled that Scott Richter and his Web marketing company, Media Breakaway of Westminster, Colo., must pay MySpace $4.8 million in damages and $1.2 million in attorney's fees for barraging MySpace members with unsolicited advertisements. Media Breakaway and its employees were also banned from the site. MySpace, a unit of News Corp.
April 5, 2008 |
News Corp.'s Fox Interactive Media said it would fall short of Chairman Rupert Murdoch's target for revenue of $1 billion this fiscal year and announced a reorganization of the unit designed to drive growth. "It wasn't one smoking gun. It was a series of things that were a little late to come to market," said Michael Barrett, who will step down as chief revenue officer at Fox Interactive after a two-month transition period.
February 21, 2008 |
MySpace, the top social networking site owned by News Corp., is in talks to create an online music joint venture with the four biggest record companies, sources familiar with the discussion said Wednesday. The talks are part of Rupert Murdoch's plans to distinguish MySpace, a haven for new music fans, from fast-moving rival Facebook as the premier destination for digital media. Plans for the service, tentatively named MySpace Music, are still in the discussion phase.
December 14, 2007 |
Rupert Murdoch completed his $5-billion-plus deal to acquire Dow Jones & Co., adding the Wall Street Journal to his News Corp. and ending a century of control by the Bancroft family. From Times Wire Services
December 8, 2007 |
Wall Street Journal publisher Gordon Crovitz will resign after News Corp.'s acquisition of Dow Jones & Co. is complete, the companies said. Crovitz, who is also executive vice president of Dow Jones and president of its consumer media group, will write a column for the Journal after he departs. He will be replaced by Robert Thomson, currently editor of the Times of London, a News Corp. newspaper. Dow Jones General Counsel Joseph Stern, a board member, also will leave.