News Corp.’s Times Reports $71 Million 2010 Loss, Telegraph Says
News Corp.’s U.K. titles the Times and Sunday Times made a pretax loss of 45 million pounds ($71.4 million) in 2010, according to a report filed at Companies House, the Daily Telegraph said.
The report cited a weak economic climate that “continued to impact the level of advertising” bought by clients in the year ending June 27, the newspaper said. The titles made an 87.7 million-pound loss in 2009, according to the Telegraph.
News Group, a News Corp. subsidiary that publishes the U.K.’s Sun and News of the World newspapers, reported a pretax profit of 88.6 million pounds in 2010 as advertising recovered, the newspaper said. News Group’s 2009 pretax profit was 40.2 million pounds.
To contact the reporter on this story: Stephen Morris in London at smorris39@bloomberg.net
To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net
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