News Corp, Rupert Murdoch's loony rightist propaganda empire is in trouble. Let's play our tiniest violins for this one. (Thanks to Pirate Satellite for calling this to my attention.) From Adweek 2/6/09:
NEW YORK News Corp. has reported a loss of $6.42 billion in the final three months of 2008, as the media conglomerate was forced to take an $8.4 billion write-down on its TV and newspaper assets.
That's fabulous! It couldn't happen to a more deserving corporation. For years, Murdoch has subsidized the sleazy rightist tabloid the New York Post with profits from the rest of his brainwashing ventures. Does this mean he will have to sell the Post or close it down? One can only hope.