Peter Kafka

Recent Posts by Peter Kafka

News Corp. Beats Estimates, Doesn’t Miss MySpace

Most big media companies are posting upbeat Q3 earnings reports, and News Corp., which also owns this Web site, has done the same. Revenues were up 7 percent, to $7.96 billion, in line with Wall Street expectations of $7.67 billion.; the company posted adjusted earnings of $0.32 per share, beating the $0.29 consensus. Last summer’s (continuing) phonegate scandal showed up several times in the earnings report, including a $91 million charge related to the closure of the U.K.-based News of the World. On the other hand, not owning MySpace appears to have saved the company around $57 million in quarterly losses.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald