News Corp.'s Fiscal Q3 Profit Unchanged

News Corp. chairman and CEO Rupert Murdoch yesterday joined the growing chorus of media conglomerate executives saying the recession and advertising market declines are showing signs of stabilization.

“It is increasingly clear that the worst is over,” Murdoch said a day after Walt Disney CEO Robert Iger talked about a light at the end of the tunnel and after his company posted a nearly 50 percent decline in underlying profit for its latest quarter because of the recession.

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