25 billion to 848 million with a turnover down

For News Corp., the 2008-2009 fiscal year, which was completed in late June will remain an "annus horribilis". The media group, held 29 by Australian-American magnate Rupert Murdoch, announced Wednesday a net annual loss of 3.4 billion against a profit of 5.4 billion a year earlier. An underperforming related among others to massives impairments of $ 8.9 billion to take account of the bad conditions and concerning "new subsidiaries" group. Including the prestigious Wall Street Journal bought two years ago for $ 5 billion. "The past year has been the most difficult of recent history and our financial performance 2009 clearly reflects the weakness of the economic context in which we faced," acknowledged Rupert Murdoch in a release.

Almost all activities of News Corp. have been affected by the bad conditions. The annual turnover of the Group decreased by 8 to $ 30.4 billion. While its operating profit adjusted has dropped from 32 to 3.6 billion. News Corp. completed the fourth quarter loss of 203 million on the basis of a charge for the restructuring of 180 million related to a departure of 700 employees plan.

During the year, the in diovisuel and press have particularly suffered from the decrease in expenditures of advertisers. Over one year, pole newspapers and information of the group saw its OPE-rational profit adjusted melt 786 million to 466 million and revenues decline by more than 6 to 5.8 billion. Degradation has been more pronounced still on television, who have given their outcome fall of 1.1 billion to 174 million. The Fox Interactive Media, the digital subsidiary branch of the group that manages the social network Myspace is also severely affected, with an operating loss of 363 million on the exercise against a deficit of 84 million one year earlier (read box).

On the other hand, cable operator of the group activities have improved their result, and the magazine industry. Finally, despite the success of films like "slumdog millionaire", the film industry operating profit was reduced from $ 1.25 billion to 848 million with a turnover down.

"No clear signs of recovery".

The crisis, News Corp. has implemented a plan to reduce costs at the beginning of the year. "I am certain that News Corporation is about to take advantage and achieve strong profits when the economy rebound," said Rupert Murdoch. While holding that "the worst is perhaps behind us", he nonetheless acknowledged that for the moment "there is no clear signs of recovery."

Waiting for a sustainable upturn of the economy "citizen murdoch" is more that never satisfied that on the Internet only for fee model is viable. And plans to pay access to all its online information sites - even those related to its channels such as Fox News - by June 2010. "If we succeed, we will be followed by all other media."The media mogul sought to make the Web site of the "Wall Street Journal" free is far. But now his religion is made. "An industry that gives its content cannibalizes his opportunities to do good journalism."