News Corp’s cost cutting pushes profit up February 6, 2014 NEWS Corp, publisher of the Wall Street Journal, reported a four per cent decline in quarterly revenue to $2.2bn (£1.4bn) on weaker advertising at its newspapers, but cost cuts helped push profit well ahead of analysts forecasts. Shares rose four per cent in after hours trading.
Murdoch’s 21st Century Fox to abandon Australian stock listing January 9, 2014 RUPERT Murdoch’s 21st Century Fox has started the process to remove its listing from Australia’s stock exchange, a move that the company said was designed to simplify its operating structure and cut compliance costs. Following the move 21st Century Fox’s shares will be listed solely on the US Nasdaq exchange and it is expected to [...]
Split with Fox knocks News Corp revenues November 12, 2013 NEWS Corp’s split with Fox pushed down revenues unexpectedly quickly in its first quarter as a separate business, the firm revealed yesterday Revenues fell three per cent at the group, although net income attributable to common shareholders was $27m (£16.9m), swinging back from a loss of $92m in the same quarter last year. News Corp [...]
Investment firm with Icahn links takes out large News Corp stake September 11, 2013 THE INVESTMENT firm that joined Carl Icahn in his failed bid to block Dell’s buyout bid on Tuesday, took a 12 per cent stake in News Corp yesterday, the largest holding behind founder and chairman Rupert Murdoch. Southeastern Asset Management, based in Memphis, Tennessee, took 23.8m class B shares in News Corp, valued at $397m [...]