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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.
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