Cry Me a River, Rupert Murdoch

This is what you get for backing an Oil Man as your boy in the White House for the last eight years, Rupert, old man. Record profits for Exxon, record losses for -- gasp! -- News Corp.!

The News Corp., the media empire controlled by Rupert Murdoch, said Thursday that it lost $6.4 billion in the second quarter as profits fell sharply at its television and movie units and it took a write-down on its newspaper assets.

Mr. Murdoch, the chairman and chief executive, said the economy deteriorated faster than anticipated in the last three months.

"Our results for the quarter are a direct reflection of the grim economic climate," he said. "While we anticipated a weakening, the downturn is more severe and likely longer lasting than previously thought."

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.