Financial Times FT.com

NewsCorp hit by lower TV ad revenues

By Joshua Chaffin and Andrew Edgecliffe-Johnson in New York

Published: August 6 2008 00:23 | Last updated: August 6 2008 00:23

Strong film studio results helped News Corp report a 27 per cent jump in fiscal fourth-quarter earnings, but its television division suffered the same advertising slowdown that is afflicting other media companies.

The television group, which includes Fox’s broadcast network and its collection of local stations, saw operating income fall 28 per cent from the same period a year ago to $279m. The company attributed the slide to weaker ratings and a pullback by local advertisers.

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