Holy Justice

07 Aug 2012 | 13:01

CoE puts News Corp on ‘porn and tobacco’ blacklist

"The Church of England has disinvested News Corporation shares worth £1.9m after the company failed to address ethical concerns raised in the aftermath of the phone-hacking scandal.

Rupert Murdoch's media conglomerate joins the Church's blacklist which includes companies involved in military products and services, pornography, alcoholic drinks, gambling, tobacco, human embryonic cloning and high interest rate lending."

http://www.professionalpensions.com/professional-pensions/news/2197185/coe-puts-news-corp-on-porn-and-tobacco-blacklist#ixzz22xiDUfM1  

8 August 2012 Last updated at 21:57

News Corp registers $1.6bn fourth-quarter loss

"Rupert Murdoch in front of News Corp logo Rupert Murdoch will be chairman of both parts of News Corp after the split

Rupert Murdoch's News Corp has swung to a loss partly due to the weakness of its publishing business, which includes newspapers like the Times and the Sun.

The fourth quarter net loss was $1.6bn (£1bn) compared with a net income of $683m in the same period last year.

The loss included a $2.9bn pre-tax restructuring charge.

The company plans to split into two, separating its profitable film and TV business from UK newspapers, embroiled in a phone-hacking scandal."

http://www.bbc.co.uk/news/business-19187681  

Thursday 09 August 2012

Murdoch slashes value of newspaper empire

"Rupert Murdoch's News Corp has scrubbed billions of dollars from the value of its newspaper publishing businesses and promised a big programme of cost cuts over the next year.

The company, whose UK titles include The Sun and The Times, plunged into the red after cutting $2.85bn from the value of its publishing businesses, as recorded on the company's balance sheet.

Although it did not spell out how it had calculated the write-down, it said that the Australian newspaper business was the biggest single contributor. Meanwhile, there was also an admission that the cost of dealing with the police investigations in the UK and resulting legal actions had now hit $224m, and that the loss of income from the shuttered News of the World was still weighing on the company's financial results."

http://www.independent.co.uk/news/business/news/murdoch-slashes-value-of-newspaper-empire-8022900.html