News Corp revenue slumps in first standalone quarter

Rupert Murdoch's Information Corp suggested a steeper than expected three % decline in income in its first quarter as a standalone company, as weak spot at its Australian newspapers took its toll. Information Corp shares fell 4 percent in after-hours buying and selling on disappointment over the $2.07 billion earnings determine, which missed a Thomson Reuters I/B/E/S forecast of $2.2 billion. "The income used to be obviously weaker than expected," said Doug Arthur, an analyst with Evercore Analysis. (See photograph: http://hyperlink.reuters.com/suc64v) Information Corp cut up from its more successful sister entertainment business 21st Century Fox Inc in July and now contains newspapers ranging from The Wall Street Journal, Occasions of London, and The Australian, ebook writer HarperCollins, Australian pay-TV and digital real estate stakes, and a fledgling schooling unit Enlarge.