BBC NEWS | Business | Loss for News Corp in 'weak' year
News Corp lost $3.4bn (£2bn) in the year to the end of June - which Chief executive Rupert Murdoch said had been "the most difficult in recent history".
The loss, due to $8.9bn in writedowns already announced, compared with a $5.4bn profit a year earlier.
Revenues at the media giant, which owns BSkyB, 20th Century Fox, and the New York Post and Sun newspapers as well as the MySpace website, were down 7.8%.
The firm has suffered from plunging advertising revenues.
"Our financial performance clearly reflects the weak economic environment that we confronted throughout the year," chief executive Rupert Murdoch said.