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Article: News Corporation hits four-year low

Article from:
China Daily
Article date:
July 29, 2002
Copyright

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.

Murdoch felt compelled to berate investors for undervaluing the ...

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