London, Aug.9 (ANI): Rupert Murdoch's embattled media organistaion News Corp. reported a 1.6 billion-dollar loss in the fourth quarter, as the firm planned major changes in its beleaguered publishing business.
The company was hit by a 2.85-billion dollars charge apparently related to a plan to split its publishing assets from its much more profitable film and television businesses.
The media group paid out 224-million dollars in costs relating to "ongoing investigations" into the News of the World phone hacking scandal, including 57million dollars in the three months to the end of June, The Telegraph reports.
According to the paper, the company said it could not factor the cost of the investigations into its forecasts for 2013 because they were too "unpredictable".
Overall, News Corp lost 1.6 billion dollars in the three months to the end of June, compared to a 683 million dollars profit in the same period in 2011.
According to the paper, the firm's revenues fell 6.7 percent to 8.4 billion dollars, below analyst expectations. (ANI)
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