News Corp takes $8.4 billion charge, blames economy

News Corp announced earnings today, and not surprisingly the news from the company wasn’t great. From TV

News Corp said its television segment, which includes Fox Broadcast Co., the Fox TV stations and MyNetwork TV posted operating income of $18 million, down from $245 million a year ago. The company said results at Fox Broadcasting dropped because of higher programming costs for returning series and higher sports costs. Operating income at the local stations declined 44%.

Fox News however was a bright spot. Its operating income rose 32%

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