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News Corp TV hit by Olympics competition

10-November-2000
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News Corp TV hit by Olympics competition

Rupert Murdoch’s News Corp posted a drop in first quarter profits, as competition from the Summer Olympics hurt its television business. The firm reported earnings of 14 cents a share, matching Wall Street views but 2 cents below a year ago. Revenue edged up 2.5 per cent to $3.24 billion.

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