News Corp chairman and chief executive Rupert Murdoch, presenting the company's year-end results to the end of June, also confirmed that News Corporation will charge users for access to all of its news websites by next summer.
These include sites in the US, such as The New York Post, in Australia, such as The Australian, and its UK news brands such as The Times and The Sun.
In a conference call to accompany the results, Murdoch said: "The digital revolution has opened many new and inexpensive distribution channels, but has not made content free. We intend to charge for all our news websites. I believe that, if we're successful, we'll be followed fast by other media."
Such a charging move will follow the model of News Corporation's subscription-only Wall Street Journal online service and comes as News International prepares to launch a stand-alone website for The Sunday Times.
However, the group has not confirmed whether it will fully charge for the site or whether it would be a hybrid ad and subscription revenue model.
News Corporation's newspaper arm, which includes its newspapers worldwide, reported profits of $466m in the year, down 40%.
Profit figures are not broken out for its UK newspapers, but advertising revenue was down 14% year on year and down 18% in Q2.
News Corporation's $3.4bn loss was largely as a result of an $8.9bn hit in write-downs on acquisitions, including Wall Street Journal owner Dow Jones Company and digital offerings acquired as part of MySpace owner Fox Interactive Media.
The company also highlighted lower advertising revenue at MySpace, the social networking portal it acquired in 2005, and increased costs associated with the launch of MySpace Music.
However, it did not detail MySpace's ad revenue or profit separately in its quarterly report.
.jpg)
.jpg)