Real estate stars as News Corp posts loss

August 11, 2017

Rupert Murdoch-led News Corp has reported a writedown-driven loss of $US643 million for 2016/17.

News Corp has widened its full-year loss to $US643 million ($A818 million), from $US235 million last year, mainly driven by a write-down of fixed assets at its Australian and UK newspapers and its investment in Foxtel.

The Rupert Murdoch-led media giant said earnings before interest, tax, depreciation and amortisation (EBITDA) for the year to June 30 rose 29 per cent from a year ago to $US885 million.

The company said revenue for the year was $US8.14 billion, compared to $US8.29 billion in the previous year.

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