News Corp upbeat on digital assets growth

News Corp chief backs Foxtel despite subscription revenue fall

News Corp chief backs Foxtel despite subscription revenue fall

"Digital Real Estate Services continues to flourish", Mr Thomson said.

Our $17 price estimate for News Corp's stock is nearly 10% ahead of the current market price. Fox is now undergoing another breakup, with a plan to sell most of its TV and film assets to Walt Disney Co.

The loss was bigger than last year's $US643 million, but included a writedown of $US998 million for the merger of Foxtel and Fox Sports in Australia.

For the Australian businesses, News Corp reported revenues lifted 1% for the full year in the news and information segment.

Bloomberg LP, the parent of Bloomberg News, competes with News Corp.in providing financial news and services.

Digital revenues represented 30% of News and Information Services revenues compared to 26% previous year.

A further rise in digital subscribers to its newspapers and a strong performance from the online real estate division increased News Corporation's fourth-quarter revenues by 29 per cent to $2.7 billion. The Wall Street Journal average daily digital subscribers in the three months ended June 30, 2018 were 1,590,000, up from 1,270,000 a year ago.

The Rupert Murdoch owned company said the loss was skewed by non-cash write downs, comprised of $998m related to the consolidation of Foxtel and Fox Sports Australia.

Total digital revenue for the quarter grew 12%, the "highest growth in recent periods due to the strength of ... downloadable audio books and represented 20% of consumer revenues, in line with the prior year", she said.

"We also saw meaningful operational improvements at the News and Information Services segment led by higher digital paid subscribers and disciplined cost initiatives, notably in Australia".

We have created an interactive dashboard on what to expect from News Corp's fiscal 2019 earnings which outline our forecasts for the company's full-year fiscal 2019 results.

He highlighted the growth of digital paid subscribers at United Kingdom mastheads such as the Times and the Sunday Times, and hailed strong growth at the Wall Street Journal. The decline was partially offset by the growth in digital advertising revenues at News Corp Australia and News UK, increase in advertising revenues at Wireless Group and the positive impact from foreign currency fluctuations. At Subscription Video Services, the company will focus on launching new OTT products, 4K, the next generation of the IQ Box and managing its broadcast base.

"We are marking five years since our separation and are confident News Corp has a lustrous future, built on a strong digital and global foundation".

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