Explore stories from Atlantic Canada.
- Media conglomerate News Corp on Wednesday missed Wall Street estimates for third-quarter revenue, weighed down by a sluggish advertising market and lower physical book sales at its book publishing business.The company's News Media segment, which includes the New York Post, The Times, the Sunday Times, among others, came under pressure as marketers kept a tight leash on ad budgets in an uncertain economy.
News Corp, a part of media baron Rupert Murdoch's empire, said it has been reviewing the company's structure and that the"work is intense and ongoing."Revenue fell 1% to $2.42 billion in the quarter ended March 31, below estimates of $2.46 billion, according to Visible Alpha. Revenue at the Dow Jones business grew 3% to $544 million, while revenue at its Digital Real Estate Services unit rose 7%, driven by strong performance at REA Group, which operates residential and commercial property websites in Australia.Revenue from its subscription video services unit, which includes the Foxtel Group and Australian News Channel , decreased 5% to $455 million.
Earlier on Wednesday, News Corp's peers Fox Corp and New York Times beat Wall Street estimates for quarterly profit and revenue.It has been our privilege to have the trust and support of our East Coast communities for the last 200 years. Our SaltWire team is always watching out for the place we call home. Our 100 journalists strive to inform and improve our East Coast communities by delivering impartial, high-impact, local journalism that provokes thought and action.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Two recent deaths near Portapique still not explained: ‘I know I keep my door locked’Explore stories from Atlantic Canada.
Read more »
Violence on the rise in P.E.I. schools, says teachers' federationExplore stories from Atlantic Canada.
Read more »
‘I’ve never seen such a caring, generous group of people’: Outpouring of support for families of two Lark Harbour men who died while lobster fishingExplore stories from Atlantic Canada.
Read more »
JOHN DeMONT: The dark side of gambling’s golden hourExplore stories from Atlantic Canada.
Read more »
Brewing up winners: Another big win lottery ticket sold at Cape Breton convenience storeExplore stories from Atlantic Canada.
Read more »
ANDY WALKER: Working towards a screen time balanceExplore stories from Atlantic Canada.
Read more »