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Thursday, February 6, 2014

News Corp reports lower revenue on soft ad sales, (NASDAQ: NWSA)

News Corp reported on Thursday a 4 percent decline in quarterly revenue on lower advertising revenue at its newspapers, especially in Australia.This is the second quarter that News Corp, whose chairman is Rupert Murdoch, has reported results as a standalone company after separating from its entertainment and TV properties now known as 21st Century Fox.News Corp publishes several newspapers including the Wall Street Journal, Times of London and the Australian, owns book publisher HarperCollins, Australian pay-TV and digital real estate stakes, and education company Amplify.News Corp said that revenue at its News and Information Services fell 9 percent to $1.6 billion on soft advertising and subscription sales.

News Corporation is a diversified media and information services company. Shares of NWSA traded higher by 2.63% or $0.41/share to $16.02. In the past year, the shares have traded as low as $14.39 and as high as $18.17. On average, 3876680 shares of NWSA exchange hands on a given day and today's volume is recorded at 4983490.