News Corp: Result 2014

Spectacular growth from Book Publishing and REA Group has driven another solid result from this ragbag of media businesses.

The message was loud and clear from News Corp at its full-year results presentation this morning: the US$3.1bn on its balance sheet isn’t going anywhere any time soon – or at least not to shareholders. Asked twice – quite pointedly as these things go – about whether the company would consider buybacks or a dividend, it was left to chief financial officer Bedi Singh to respond with the usual cookie-cutter platitudes about ‘making sure [its] businesses are stabilised’, looking at ‘internal investments’ and ‘making sure we do smart strategic acquisitions’.

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