Sweet schadenfreude

I try not to indulge too often, this is just too good.

The News Corporation, the media empire controlled by Mr. Murdoch, said Thursday that it lost $6.4 billion in its second quarter as profit fell sharply at its television and movie units. The company also took a large write-down of $8.4 billion, about $3 billion of which reflected a decline in the value of the company’s newspaper unit, which includes Dow Jones, the publisher of The Wall Street Journal. Many media analysts believed that News Corp. overpaid when it bought Dow Jones just over a year ago for about $5 billion, and the write-down indicates that it lost significant value.
Poor Rupert. Must be tough. Your conservative ideals have taken a beating in the marketplace of public opinion, and your companies are feeling the pain as well. So sad.

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