News Corp. took a hefty write-down on the value of its assets, pushing it to a $6.4 billion loss for the fiscal second quarter, as declining ad spending crimped its broadcast-television and newspaper businesses.
The New York media conglomerate’s bottom line for the quarter ended Dec. 31 was dragged down by an $8.4 billion charge to reflect the declining value of its TV licenses, acquisitions and other assets. Other media companies, including Time Warner Inc. and CBS Corp., have taken similar charges.