Revenue for the global newspaper division was down slightly year on year for the first quarter to $124 million. In a statement the company said that circulation and advertising gains were offset by higher costs in the UK with the launches of thelondonpaper and the first launches from its newly established News Magazines division, Love it! and Inside Out.
News Corporation's overall revenue increased by 4.1% year-on-year to $5.91 billion, but operating income fell 6% to $851 million, due to a decline at the 20th Century Fox film division.
Chairman and chief executive Rupert Murdoch said: "We have begun to capitalise on the rapid growth at our new-media assets, where News Corporation websites now rank second in the US in total page views and fifth in unique users."
Murdoch said the recently announced deal with Google for textual search would generate $900 million over three-and-a-half years.
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