ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NWSA Stock Price » NWSA Stock News

News Share News

 News (mm) Stock Price
NWSA Stock Price
 News (mm) Stock Chart
NWSA Stock Chart
 News (mm) Stock News
NWSA Stock News
 News (mm) Company Information
NWSA Company Information
 News (mm) Stock Trades
NWSA Stock Trades

News Corp. Reports Loss after Publishing Write-Down

News Corp. (NWS, NWSA) on Wednesday reported a $1.55 billion loss for its fiscal fourth quarter on a multibillion-dollar write-down primarily of its publishing businesses, most significantly those in Australia. Class A shares of News Corp. slid in after-hours trading, down 3.9% to $22.80, as the media company reported less total revenue than analysts had predicted. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. The earnings report comes as News Corp. prepares to separate its publishing business from its film and television divisions in a move that will split some of the world's biggest media brands into two distinct public companies. "News Corporation is in a strong operational, strategic and financial position, which should only be enhanced by the proposed separation of the media and entertainment and publishing businesses," Chairman and Chief Executive Rupert Murdoch said in a press release. For the fourth quarter, News Corp. reported a loss of $1.55 billion, or 64 cents a share, compared with year-ago earnings of $683 million, or 26 cents a share. The fourth-quarter loss included about $2.8 billion in pretax impairment and restructuring charges, linked "most significantly" to News Corp.'s Australian publishing assets. News Corp. also said it booked $57 million in new charges during the quarter tied to ongoing investigations initiated from the closure last year of the U.K. tabloid News of the World. Excluding the previously mentioned charges and other items, the company's adjusted earnings were 32 cents a share, in line with the average analyst estimate from Thomson Reuters. Revenue fell to $8.37 billion, from $8.96 billion, missing the average analyst prediction of $8.72 billion. The company launched an initial $5 billion share-repurchase agreement last year as it sought to deploy excess cash it intended to use to acquire the remainder of BSkyB. It subsequently increased the plan's value to $10 billion in May. News Corp. said that under the buyback plan, the company has bought back about $5.1 billion of Class A shares through Aug. 7, at an average price of $18.18 per share. Write to William Launder at william.launder@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for News (NWSA)
DateTimeHeadline
08/27/201510:40:00Pending Home Sales Index Rises
08/21/201515:30:00EU Deepens Google Antitrust Investigation
08/20/201510:40:00U.S. Existing Home Sales Rise to Pre-Recession Pace
08/18/201516:33:10Statement of Changes in Beneficial Ownership (4)
08/18/201516:32:20Statement of Changes in Beneficial Ownership (4)
08/18/201516:31:52Statement of Changes in Beneficial Ownership (4)
08/18/201511:33:00Checkout 51 Wins Future Digital Award From Juniper Research
08/18/201509:40:58Current Report Filing (8-k)
08/13/201516:34:02Statement of Changes in Beneficial Ownership (4)
08/13/201516:33:10Statement of Changes in Beneficial Ownership (4)
08/13/201516:32:17Statement of Changes in Beneficial Ownership (4)
08/13/201506:45:51Annual Report (10-k)
08/13/201506:00:0010 ZIP Codes Rise Above 32,000 to Create Realtor.com®'s 2015...
08/12/201519:40:12News Corp Posts Loss on Education Write-Down
08/12/201516:30:00News Corporation Reports Fourth Quarter and Full Year Results...
08/12/201505:00:06Pearson Sells 50% Stake in Publisher of the Economist
08/10/201518:12:00S&P U.S. Indices Methodology Update and Constituent Additions
08/10/201510:24:55Amended Statement of Ownership (sc 13g/a)
08/04/201518:30:21Zillow Revenue More than Doubles
08/03/201510:11:00HarperCollins Publishers Announces the Formation of HarperCollins...

News and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad