Credit Suisse Lowers Profit Estimates for News Corp.

newscorp07272010.jpgAn analyst at Credit Suisse have reduced their earnings estimates for media behemoth News Corp. (NWS), which reports its fiscal fourth-quarter results on August 4.

Citing a lack of share buyback activity by News Corp. thanks to its efforts to buy British satellite TV company BskyB, analyst Spencer Wang lowered his earnings-per-share estimates on the company. Wang also said that he was unconvinced of the benefits of a proposed merger between News Corp. and BskyB.

Based in New York, News Corp. publishes The Wall Street Journal and the New York Post and operates diversified media holdings in print, broadcast and online across the globe.