“While it's impossible to be completely prepared for a downturn of this magnitude, we began priming ourselves for a weakening economy earlier last year. We have implemented strict cost cutting measures across all our operations. We have reduced headcount in individual businesses where appropriate and we've scaled back on capital expenditures. Even in plush times, we have never been a company that tolerates fat. So in times like these, we are better positioned to weather this cycle than our competitors.”

— Rupert Murdoch

About News Corp. 6.4 billion quarterly lost in 2008-09
Source: News Corporation F2Q09 (Qtr End 12/31/08) Earnings Call Transcript http://seekingalpha.com/article/118935-news-corporation-f2q09-qtr-end-12-31-08-earnings-call-transcript?page=-1

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Rupert Murdoch 12

Australian-American media mogul 1931

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