News Corp loss

Thursday 19 August 1999 00:02 BST

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RUPERT MUDOCH'S News Corp last night reported a fiscal fourth-quarter loss of pounds 6m, hit by the cost of technology upgrades at BSkyB and a weaker performance at its Fox Broadcasting unit, which more than offset strong earnings from the latest Star Wars blockbuster.

Operating profit fell to $214m from $266m in the year ago period, before $224m in one-time charges - most of which were related to the analog-to- digital upgrade at BSkyB, 40 per cent owned by News Corp.

Losses at the Fox News Channel and increased investment in Internet-related ventures also hurt operating profit.

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