Earnings Call: News Corp's Murdoch: 'Stringent Cost-Cutting' But 'Not Going To Starve Our Business'
This story was written by Staci D. Kramer.
News Corp (NYSE: NWS) Chairman and CEO Rupert Murdoch expects the current slump to extend at least through 2009, telling analysts and investors in today's earnings call that "our businesses across the board are being challenged by weakening ad markets and weakening currencies." But, typically, Murdoch is pushing the company's strengths, including a handy $5 billion cash clip, and balancing talk of "stringent cost-cutting" across "lean" operations with promises that he won't starve businesses. More to come
By Staci D. Kramer