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Article: News Corporation and Fox Entertainment Group Revise Fiscal 2002 Earnings Guidance.
- Article from:
- Business Wire
- Article date:
- October 2, 2001
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Business Editors
NEW YORK--(BUSINESS WIRE)--October 2, 2001
News Corporation (NYSE: NWS, NWS.A; ASX: NCP, NCPDP) and Fox Entertainment Group (NYSE: FOX) today revised their business outlook for fiscal 2002 in the wake of last month's tragic terrorist attacks on the United States. As a result of the attacks and their effect on the worsening advertising market, News Corporation now expects fiscal 2002 operating income growth in the high single-digit to low double-digit range, while Fox Entertainment Group expects EBITDA growth in the low- to mid-teens.
News Corporation Chairman and Chief Executive Rupert Murdoch said: "The tragic and senseless ...