Rupert Murdoch Moves On, Misses News Corp.'s Earnings CallBy
Rupert Murdoch doesn’t like to hang out with losers. If that wasn’t obvious in June, when the News Corp. chief said he’d split his empire and stick to running his robust entertainment arm, it became clear in the Aug. 8 earnings call. The media titan didn’t even show up to explain the company’s bad news—its $1.6 billion loss, the $8.4 billion in revenue that fell short of expectations, the $2.8 billion writedown, and $57 million in legal costs. Why should he? After all, the main culprit was publishing, the business that has brought such misery into his home this year. That’s where he has had to deal with such headaches as legal costs, reputation hits, police probes, bribery allegations, and hacking scandals, not to mention a tough ad environment.
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