News Corp Reports 3 Percent Drop in Revenue in First Quarter

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By: Ted Johnson | Variety

News Corp, the recently spun off publishing side of Rupert Murdoch’s media empire, reported that its revenue fell in the first quarter of its fiscal 2014, due to lower advertising revenue and foreign exchange fluctuations.

The company reported that its earnings before the deduction of interest, tax and amortization expenses increased 58% in the quarter ended Sept. 30 to $141 million, mainly due to the consolidation of Fox Sports Australia and lower costs at its newspaper division.

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