Friday, November 27, 2020

NEWS CORP SETS ASIDE $155 MILLION FOR HACKING SETTLEMENTS

December 30, 2011 by · Leave a Comment 

News International, the unit of Rupert Murdoch’s News Corp that oversees his British news operations, has reportedly added £80 million ($124 million) to the kitty it had set up to settle invasion-of-privacy lawsuits arising from telephone hacking conducted by reporters and private investigators working for the now-defunct tabloid News of the World. The legal fund […]

MYSPACE, A SHADOW OF ITS FORMER SELF, IS SOLD

June 30, 2011 by · Leave a Comment 

MySpace, the social network site that Rupert Murdoch’s News Corp bought six years ago for $580, has been acquired by the ad network Specific Media for about $35 million in stock. That’s about one dollar in stock for each of the 35 million users who access the website each month. While that is an enormous […]

PROFITS AT FOX PLUNGE 50 PERCENT

May 5, 2011 by · Leave a Comment 

Without Avatar, operating profits for 20th Century Fox fell 50 percent to $248 million against $497 million during parent News Corp’s third quarter last year, the company said in an SEC filing on Wednesday. The steep drop contributed to a 24-percent plunge in overall News Corp revenue to $639 million from $839 million, even though […]