News Corporation
(ASX:NWS) chairman Rupert Murdoch has raised hopes of a continued global economic recovery.
Speaking during the release of the company's third-quarter results yesterday, Mr Murdoch said he was optimistic about the trends currently seen in advertising markets with particularly good growth returning in the US and Britain.
His comments reaffirm the recovery seen in financial markets over the past six months as the world claws its way out of the global financial crisis.
The Australian newspaper says that Citigroup is predicting 7.2% growth in Australia for the current advertising calendar year, and that is increasingly looking like a conservative forecast.
Mr Murdoch's optimism partly reflects increasing confidence among advertisers on general economic conditions and strong sales demand of technical devices like the iPad.
Mr Murdoch also says that News is about three to four weeks away from announcing a new subscription model for its online content in newspapers.
News Corporation posted a $4.163 billion loss for the 2009 financial year.
