News Corp misses first-quarter targets

LONDON - News Corporation has missed its first-quarter targets and posted a bigger-than-expected drop in income, which fell to £247m from £266m last time.

However, it said that its film and entertainment divisions more than offset the drop in revenues experienced by its television and newspaper operations which include Fox in the US and BSkyB in the UK, which were hit by the weakening advertising market.



News Corp said its earnings per share fell to 6 cents in the first quarter. It said this was due to the the weak advertising market and the September 11 attacks in New York.



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