News Corp takes $8.4 billion charge, blames economy

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February 5th, 2009

News Corp announced earnings today, and not surprisingly the news from the company wasn't great. From TV Week.com:

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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