News Corp.: The Adelaide, Australia-based communications and...
From Times Staff and Wire Reports
News Corp.: The Adelaide, Australia-based communications and transportation giant, which owns Fox Broadcasting in the United States, said its annual earnings fell 43% to $234 million. Revenue was up 12% to $7.3 billion. The company said key reasons for the lower profit were a seven-month pilots’ strike at its Ansett Airlines subsidiary in Australia and start-up losses on its Sky Television satellite network, which will beam programming into Europe. A bright spot was 4-year-old Fox, which reported a full-year profit for the first time.
Tables, D8
