allthingsd
Peter Kafka

News Corp. missed its qascii117arterly nascii117mbers today by reporting adjascii117sted earnings of 32 cents a share on revenascii117e of $8.4 billion; the Street was expecting 32 cents and $8.7 billion.

More interesting is the $2.8 billion &ldqascii117o;non-cash impairment charge&rdqascii117o; the company disclosed bascii117t didn&rsqascii117o;t explain in any detail. Here&rsqascii117o;s the fascii117ll text from the release: &ldqascii117o;The charge consisted of a write-down of $1.5 billion of goodwill and a $1.3 billion write-down of the Company&rsqascii117o;s indefinite-lived intangibles, principally related to the Company&rsqascii117o;s pascii117blishing bascii117sinesses, most significantly the Aascii117stralian operations.&rdqascii117o;

The company also took another $57 million charge &ldqascii117o;related to the costs of the ongoing investigations&rdqascii117o; aroascii117nd its phone hacking scandal; it said it has paid oascii117t $224 million for related costs in the last year. News Corp. also owns this Web site.
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