|
|
Article: Australia-Based News Corp. Reports 18 Percent Profit Plunge.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 12, 1998
- Author:
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Knight Ridder/Tribune Business News
Nov. 13--Fox is hot, Rupert's not.
Despite the strong profit performance of his Fox entertainment division, Rupert Murdoch's sprawling global media empire, News Corp., is stumbling.
Fresh from taking Fox Entertainment Group public earlier this week in a highly successful offering, the Australia-based company yesterday reported a surprising 18 percent plunge in profits.
In its latest quarter, News Corp.'s profits dropped to $196 million, or 20 cents a share, compared with profits of $240 million, or 26 cents a share, in the year-ago period.
Analysts expected News Corp. to post earnings per ...