Rupert Murdoch gives up bonus after News Corp post $1 billion loss
Source: Reuters
News Corp Executive Chairman Rupert Murdoch is forgoing his cash bonus for the year after the media company posted a $1 billion quarterly loss due to a write-down in the value of its Australian pay TV unit and the impact of the COVID-19 pandemic on its businesses.
The company’s chief executive officer, Robert Thomson, who is giving up three-quarters of his annual cash bonus, said on Thursday News Corp would cut costs in all its units as it tries to limit the hit of the pandemic on its business.
News Corp also reported an 8% drop in revenue to $2.27 billion, hurt by a weaker Australian dollar and lower subscription at Foxtel.
Full Story @ Reuters
More Stories
Post-Roe, doctors worry about what constitutes lifesaving care
Health care providers say the decision to overturn Roe v. Wade has led to increased confusion over what sort of emergency and life-giving care they can provide to patients facing a pregnancy-related health crisis. They say the rapid shift in state abortion laws, combined with how those laws are being enforced has led many to wonder what types…
Biden proposes to block offshore drilling in Atlantic, Pacific oceans, allow some in Gulf of Mexico
A supply boat, lower left, passes an oil production platform in the Gulf of Mexico. File Photo by A.J. Sisco/UPI | License Photo July 2 (UPI) — The Biden administration has proposed blocking all new drilling in the Atlantic and Pacific Oceans, but allowing some drilling in the Gulf of Mexico in a five-year development…
Ginni Thomas lawyer questions need for her to testify before Jan. 6 panel
Associated Press-Patrick Semansky In a file photo, Virginia “Ginni” Thomas, wife of Supreme Court Justice Clarence Thomas, arrives to watch Amy Coney Barrett take the Constitutional Oath on the South Lawn of the White House in Washington, Monday, Oct. 26, 2020. The attorney for Ginni Thomas, the wife of Supreme Court Justice Clarence Thomas, said…
Gov. Ron DeSantis changes course, allows Florida to order COVID-19 kids vaccines
According to the White House, Florida Gov. Ron DeSantis Friday reverses course, deciding to allow COVID-19 vaccines for kids under 5 to be ordered in Florida. Photo by Joe Marino/UPI | License Photo June 17 (UPI) — Florida Gov. Ron DeSantis has reversed his decision not to order COVID-19 vaccines for kids under 5, according…
U.S. Supreme Court allows counting of undated mail-in ballots in Pennsylvania
Voters arrive to drop off mail-in ballots at an election site in Pittsburgh, Pennsylvania, U.S. May 17, 2022. REUTERS/Quinn GlabickiRegister now for FREE unlimited access to Reuters.comWASHINGTON, June 9 (Reuters) – A divided U.S. Supreme Court on Thursday allowed the counting of undated mail-in ballots in an undecided 2021 election for a Pennsylvania judgeship in…
Justice Department to review law enforcement response to Texas shooting
A girl pays respects at the memorial at Robb Elementary school, where a gunman killed 19 children and two adults, in Uvalde, Texas, U.S. May 28, 2022. REUTERS/Marco Bello/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, May 29 (Reuters) – The U.S. Justice Department said on Sunday it will review law enforcement’s response to…