News Corp revenues fall as the group faces ‘continued headwinds in print advertising’
News Corp has revealed its financial results for the final three months of 2016, noting print advertising challenges, a change in the value of Foxtel and “an impairment of the print-related fixed assets” at the group’s Australian newspaper business.
In a statement to the ASX, News Corp said its revenues for the second quarter of the financial year were US$2.12 billion (AU$2.87 billion), down from US$2.16 billion (AU$2.83 billion) in the year prior. 
The group lost US$219 million (AU$287 million) from continuing operations, compared with US$106 million (AU$139 million) during the same period last year. The loss includes US$537 million (AU$704 million) of non-cash impairments and write-downs and a one-time gain of US$120 million (AU$157 million) as a result of cash proceeds from the sale of REA Group’s European business, the statement said.
Digital revenues, however, increased to 27% of News and Information Services segment revenues, compared with 22% last year.
As long as The Australian’s still making a profit…
I am sure I’m not the only person who has decided to withhold financial benefit and support for any of Rupert’s businesses.
JH.
I concur, I will not give any support in any way to any of the Murdoch propaganda organisations, the sheer hypocrisy of the prime exponents of fake news ( or at least severely twisted, distorted and misrepresented) and promotion of faux outrage and hatred. Their lies and distortions over the NBN just to protect their pay TV archaic model at great cost to Australia and it’s future and their misrepresentions and promotion of untruths over Climate Change and Global warming are a warning to any person with a skerric of integrity.
Avoid
Why do they keep sailing into the headwinds? Has been the better part of 10 years of headwinds now ../