News Corp suffers £1bn losses

News Corporation boss Rupert Murdoch. Credit: PA Wire

News Corporation has reported a loss in its quarterly results. The firm's net loss was 1.6 billion dollars (£1 billion) for the three months to the end of June, compared with a net income of 683 million dollars (£436.2million) in the same period last year.

The company's full year results included a 224 million dollar (£143 million) charge related to "the costs of the ongoing investigations initiated upon the closure of The News of the World". This included a 57 million dollar (£36.4 million) charge in the last quarter.