Rupert Murdoch declared an end to “the days of precipitous decline” last night, saying that the worst was over for News Corp as his media empire reported a 47 per cent drop in operating income to $755m for the three months to March 31.
“At the very least, we’ve hit a floor and we seem to be getting some bounce off it,” he said, holding to a forecast made in February that adjusted operating profits would end the year 30 per cent down from the $5.13bn recorded the previous year.
