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News Corp. misses profit estimates as ad sales fall
News Corp. misses profit estimates as ad sales fall

News Corp., completing its first full year as a stand-alone company, reported quarterly earnings that missed analysts' estimates for the first time as it struggled in its transition from print to digital. Profit, excluding some items, was 1 cent a share in the fiscal fourth quarter. That was short of the 3 cents analysts estimated on average, according to data compiled by Bloomberg. Revenue fell 3.1% to $2.19 billion, said the company, which split from billionaire Rupert Murdoch's entertainment business last year. Analysts had projected $2.14 billion. Like many publishers, Chief Executive Robert Thomson is working to transform the company's print properties into a...

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