Credit Suisse Lowers Profit Estimates for News Corp.
An 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.
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