News Corp said it expects to reduce headcount 5% this year amid economic challenges
News Corp. said its latest quarterly net profit fell 71%., as the media company reported lower quarterly revenue despite continued growth at Wall Street Journal parent Dow Jones & Co.
The New York-based media company, which owns the Journal, HarperCollins Publishers and news organizations in the U.K. and Australia, said revenue fell 7.2% to $2.52 billion for the quarter ended Dec. 31. Net profit declined 71% to $67 million, or 12 cents a share, from $235 million, or 40 cents a share, a year earlier.
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