News Corp Australia revenues fall as advertising drops and subscriptions stay flat

Rupert Murdoch's Australian mastheads and Foxtel suffer drop in revenue although global profits increase after huge loss in 2018

Revenue at the Australian mastheads run by Rupert Murdoch's News Corp fell by 6% last year, and the company's pay TV operation, Foxtel, has also been hit by falling subscriber numbers.

But results released on Friday show that overall the globe-spanning media empire returned to the black in the year to the end of June, declaring a profit of US$155m (A$228m).