News Corp slashes outlook, profit dives (FAUX Snews lay-offs coming?)

[UpInArms]

Source: Reuters

NEW YORK, Nov 5 (Reuters) - Rupert Murdoch's News Corp (NWSa.N: Quote, Profile, Research, Stock Buzz) cut its full-year forecast and posted a worse-than-expected 30 percent drop in quarterly profit because of falling TV advertising. Shares dived 12 percent.

The international media conglomerate said display advertising at its Web holdings, including the MySpace social network, was beginning to weaken, and that it was instituting stringent cost-cutting measures company wide.

"We're managing down headcount wherever appropriate," Murdoch told analysts on a conference call, adding his company had a good handle on its costs and "we'll ratchet them down accordingly."

"The businesses across the board are challenged right now by weakening markets, and our group-wide results are further impacted by progressively weak foreign currencies when translating these to U.S. dollars," he said.

News Corp's assets include: the Fox TV network, 20th Century Fox movie studio, BSkyB and The Wall Street Journal.

Read more: http://www.reuters.com/article/bondsNews/idUSN0533666120081105?sp=true

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Perhaps KKKarl will be shown the door?

[amdezurik]

1. Nobody at FAUX needs to worry

after all Rupert has his parachute and that is all we should care about...at least according to them :)

[TomInTib]

2. Awww, I left my little violin at home....

:nopity:

[BrklynLiberal]

4. I was just looking for mine, too.

[mr_hat]

3. If they cut security, who'll provide BillO's muscle?

[AndreaCG]

5. Have they canned Fox Business "News that no one watches" yet?

That's a good place to cut.

I'd love to see the NY Post go under but I don't think that will ever happen. It's his bully pulpit.

[SpiralHawk]

6. Americans sick of republicon FAUX propaganda crapola

About time, damn it.

[santamargarita]

7. I hope you go out of business - you fascist pig!

I've never watched 1 second of their crap!

[Auggie]

8. Hey bozos -- if you want new customers

maybe you should start reporting the truth.

[pattmarty]

9. evidently, there is not much profit in propaganda.

[Swagman]

10. Rupert Murdoch was just in Sydney insulting everyone..

in a speech he told the government not to put up with "bludgers" (Aussie slang for scroungers") and cut back on welfare !

So at the same time he does his best to put everyone on welfare !!

hypocritical creep

PS: this year he gave himself a $US30 million "salary"

[yardwork]

11. No more money coming from the White House for the "war effort."

[Crowman1979]

12. First Obama wins the presidency, now Faux news is losing money!

All I need now is for Rush and Savage to be pulled off the air! :D

It's like a dream come true! :party: :bounce: :applause:

[ellenfl]

18. i'd settle for rush getting a really big boil on his butt. eom

[Oldtimeralso]

19. He would need a brain surgeon to take care if that! n/t

[Hawkeye-X]

13. They should sell Faux to Al Gore and his investors..

And rename it to something more special.

Faux is dead to me.

Hawkeye-X

[obiwan]

14. Shaun Hannity and Shepard Smith can be my lawn jockeys.

Now all I need is a male dog who likes pissing on lawn jockeys.

[NashVegas]

15. All Broadcasters Are Hurting Right Now

In addition to the internet, there's this problem with major advertisers right now: banks, car dealers, etc.

[Turbineguy]

16. Maybe they should hire

Pat Robertson or John Hagee to hawk the faithful for money to spread the bad news.

[scarface2004]

17. time to shut down fox news...complete failure!

nobody is watching!

[gauguin57]

20. rfmprmmf ... sorry ... I was laughing so hard I nearly swallowed my tonge.

karma karma karma is a bitch bitch bitch

[HopeHoops]

21. "managing down headcount" - There go the hopes of Joe the Fake Plumber + Sarah "YaBetcha" Palin.

[bemildred]

22. A dropping tide lowers all boats, eh?

Who could have predicted that?