News Corp. reported a $6.4-billion quarterly loss Thursday as the deteriorating economy prompted the media conglomerate to take an $8.4-billion write-down on the value of its television, newspaper and digital business units.The New York company, which already has instituted a hiring freeze and eliminated 800 jobs across all of its Fox divisions, scaled back its earnings forecast for this year, and its shares sank in after-hours trading as much as 6%.
Geez, I didn't see the huge flashing sign of failure over at the Drudge Report on this news.
I wonder why ....
