News Corp (ASX:NWS) reports that its net income has fallen 56 per cent to $US1.2 billion in the 2012 financial year.
The media company’s result was impacted by a $US3 billion pre tax impairment and restructuring charge for its publishing division.
Chairman and CEO Rupert Murdoch says News Corp remains in a strong operational, strategic and financial position.
Mr Murdoch also remains optimistic about the proposed separation of its media, entertainment and publishing businesses.
News Corp expects earnings to increase in the “high single to low double digits range” in its 2013 financial year.
