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Article: News Corporation hits four-year low

Article from:
China Daily
Article date:
July 29, 2002
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SYDNEY: A series of mistakes in long-term investments has driven Australian global media giant News Corporation's share price to a four-year low and overshadowed the firm's strong business core, said analysts.

While still a major influence on the performance of the Australian sharemarket, News Corporation has been overtaken as the index's most heavily weighted stock by National Australia Bank, a situation unthinkable when shares were above US$27 prior to the tech crash.

Recently, the personal fortune of News Corporation Chief Executive and Chairman Rupert Murdoch and his family has shrunk by tens of billions of US dollars.

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