Television and film continue to be News Corp’s core area of sales growth, even as other aspects of Rupert Murdoch’s empire – including recently-sold MySpace and scandal-ridden News International – unsurprisingly had a bumpy Q4.
The company rolled out Murdoch at its conference call in New York to personally anoint the results, he also tried to draw a line under News Corp’s recent bad press brought on by, well, allegedly bad press people.
But newspapers and indeed social networks aren’t the media baron’s main going concern. So despite notching up a $254m loss associated with the recent offloading of MySpace and the phone-hacking revelations that have engulfed sister firm News International leading to the recent closure of its most successful tabloid News of the World, News Corp reported final quarter publishing revenue of $2.35bn.
Full story: MySpace vanishes $254m from News Corp coffers