News Corp. released its earnings report for the quarter that ended in March, and the results are a little disappointing.
The company reported a decline in its operating income, which was down to about $1 billion, compared to $1.25 billion over the same period last year. The drop-off appears to be at least in part the result of a $125 million settlement of a lawsuit brought by Insignia Systems against News America Marketing. Even without those litigation expenses, the company's operating income was still down 5 percent from last year. The company saw increases in television and cable programming, though that could not offset decreases in its film business, which had a better-than-average year last year thanks to Avatar.
The company also had a quarterly net income of $639 million, down from $839 million during the same period last year.