Murdoch Publishing Lost $2.1B

    ARCHIV: News about Rupert Murdoch is displayed on the Fox News ticker at a building which houses the News Corp. headquarters in New York, USA (Foto vom 15.07.11). Murdoch accepted the resignation of The Wall Street Journal's publisher and the chief of his British operations on Friday as the once-defiant media mogul struggled to control an escalating phone hacking scandal with apologies to the public and the family of a murdered schoolgirl. The controversy claimed its first victim in the United States as Les Hinton, chief executive of the Murdoch-owned Dow Jones & Co. and publisher of the Wall Street Journal, announced he was resigning, effective immediately. (zu dapd-Text) Foto: Mary Altaffer/AP/dapd

    Mary Altaffer / AP Photo

    This isn’t promising news for potential investors of Rupert Murdoch’s soon-to-be-separated publishing company. The publishing assets showed losses of $2.1 billion last fiscal year, with revenue falling from $9.1 billion to $8.65 billion. About $2.8 billion was lost in impairment and restructuring charges in the wake of the phone-hacking scandal last year. The new print side will retain the News Corp. name and includes HarperCollins, the New York Post, and The Wall Street Journal, among others. The entertainment side will take the name Fox Group.

    Read it at The New York Times