Reuters

(Reuters)

News Corp's Profit Hit By Charge

Earnings FOXBusiness

News Corp, the owner of the Wall Street Journal and book publisher HarperCollins, reported its fifth drop in quarterly revenue in a row as print ad sales decline.

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New York-based News Corp, controlled by Rupert Murdoch, said "currency fluctuations" also contributed to a 7.3 percent fall in the company's revenue to $1.89 billion in its third quarter.

News Corp reported a net loss available to shareholders of $149 million, or 26 cents per share, in the three months ended March 31, compared to a profit of $23 million, or 4 cents per share, a year earlier.

The company's profit was hurt by a one-time charge of $280 million at its News America Marketing business.

News Corp said in February that it had agreed to pay $280 million to resolve claims that it monopolized the market for in-store promotions at more than 50,000 retail stores across the United States. (Reporting by Kshitiz Goliya in Bengaluru; Editing by Ted Kerr)