There was some excellent news regarding Rupert Murdoch's News Corp. today:
News Corp 4Q loss hits $203M on MySpace writedown
LOS ANGELES - News Corp said Wednesday it lost $203 million in the latest quarter due to a huge writedown at MySpace...
As if that news wasn't good enough, it gets even better...
Rupert Murdoch (tacitly) admits that Obama's economic recovery plan is working and that the economy appears to be turning around!
Despite the loss, the sprawling New York-based media company that owns The Wall Street Journal, the Fox broadcast network, Sky Italia and newspapers in Britain and Australia said the economy was slowly turning around and predicted revenue growth in the current fiscal year.
"Advertising markets, while weak and particularly hurt by the slump in cars and finance, have shown some good signs of life," Murdoch said on a conference call. "I think the worst may be behind us but there are no clear signs yet of a fast economic recovery."
(more)
So we get a double dose of good news:
- Rupert Murdoch's company is bleeding boatloads of red, plus
- Murdoch agrees with Obama that the administration's recovery plan is working and the economy is turning around!
Take that Republican senators and reps!
I wonder when Rupert is going to inform his Fox News blowhards that Obama is correct and his economic plan is bringing our country back from the brink of the Bush-induced recession/depression?
I hope every Democrat, including Obama and Robert Gibbs, point out tomorrow that Rupert Murdoch firmly believes we're headed for recovery.
Thanks for lobbing a softball, Rupert! I think we're about to see the administration hit that one out of the park!