CHICAGO (MarketWatch) — News Corp. said Wednesday it swung to a quarterly loss on $680 million in impairment, restructuring and other charges, most of them in their Fox Interactive Media unit, as the struggling worldwide economy held a firm grip on the media conglomerate.

Chairman Rupert Murdoch said that while economic downturn may have bottomed, “there are no clear signs of a fast recovery.”

Murdoch, speaking to analysts and reporters during a conference call, said that advertising markets are showing “good signs of life” despite ongoing weakness in the automotive and financial categories.

Murdoch also said the company intends to charge for all of its news Web sites.

“Quality journalism is not cheap, and an industry that gives away its content is simply cannibalizing its ability to produce good reporting,” Murdoch said.

Chief Financial Officer Dave De Voe said Wednesday that the media company expects fiscal 2010 operating income to rise by a “high single-digit” percentage from the fiscal 2009 total of $3.44 billion.

De Voe said the company will face a number of difficult comparisons in the quarter ended Sept. 30, and that most of the media company’s growth will be seen in the three subsequent quarters.

News Corp. /quotes/comstock/15*!nwsa/quotes/nls/nwsa (NWSA 10.66, +0.08, +0.76%) /quotes/comstock/15*!nws/quotes/nls/nws (NWS 12.48, +0.10, +0.79%) /quotes/comstock/22x!e:nws (AU:NWS 14.86, +0.44, +3.05%) said it lost $203 million, or 8 cents a share, in its fiscal fourth quarter. In the comparable period a year ago, its profit was $1.1 billion, or 43 cents a share.

De Voe said the company’s adjusted net income, excluding items, was 92 cents a share in the latest three months.

Revenue fell 10.5% in the latest fourth quarter to $7.67 billion.

Analysts had expected News Corp. to report revenue of $7.63 billion, according to a survey conducted by Thomson Reuters.

News Corp.’s many media properties include The Wall Street Journal and MarketWatch, the publisher of this report.

The company reported an operating loss of $136 million compared with a loss of $57 million a year earlier, as Fox Interactive Media was hit by a decrease in ad revenue and higher costs related to a MySpace music venture and the launch of new features.

At News Corp.’s film and television production studios, operating income fell to $203 million from $220 million, even as revenue rose to $1.72 billion from $1.52 billion. The decline primarily reflects decreased income from the library assets of Twentieth Century Fox Television, as well as higher marketing costs.

Chief Operating Officer Chase Carey said on the call that Redbox DVD rental kiosks represent an “issue” for the entertainment conglomerate.

Redbox, owned by Coinstar /quotes/comstock/15*!cstr/quotes/nls/cstr (CSTR 38.14, +2.09, +5.80%) has installed thousands of its kiosks, which charge $1 per day for movie rentals, at supermarkets, Wal-Mart /quotes/comstock/13*!wmt/quotes/nls/wmt (WMT 49.02, +0.04, +0.08%) stores, 7-Eleven /quotes/comstock/11i!svndy (SVND.Y 47.25, -0.45, -0.94%) /quotes/comstock/!3382 (JP:3382 2,260, +15.00, +0.67%) outlets, and many other places with significant foot traffic.

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Asshole shill traitor of the week, Glenn Beck, recommends his favorite training video for those wishing to mimic his techniques.

9/11 Debunking for Dummies

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OK, so the main way that corporate media channels communicate with you is through the use of banners. You need not pay as much attention to what the talking heads say, their words are secondary as they babble on to reinforce the central point splashed across the banner. If you ever wanted to know what a channel like FOX (or CNN or MSNBC – they’re all corrupt) wants you to think about a certain issue, well, its hidden in plain sight, written right there.

“Those who would sacrifice freedom for temporary security deserve neither.” – Benjamin Franklin

Source: Bread With Circus

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Pentagon

In a report posted on its website Friday, the Pentagon’s inspector general said “we found the evidence insufficient to conclude that RMA (retired military analysts) outreach activities were improper.”

The report said the controversy, which erupted in April following an expose in the New York Times, warranted no further investigation.

The Times found that the Pentagon laid on special briefings and conference calls for the retired officers, many of whom then repeated the talking points as military experts on television news shows.

It also found that many of the media analysts also worked as consultants or served on the boards of defense contracting companies, but that those ties often went undisclosed to the public.

US law bars government agencies from using funds for domestic propaganda, but the inspector general’s report said the definition of propaganda is unclear.

The report said historically it has been interpreted to mean publicity for the sake of self aggrandizement, partisanship, or covert communications, and that by those standards the evidence did not show a violation of the ban.

“Further, we found insufficient basis to conclude that (the office of the assistant secretary of defense for public affairs) conceived of or undertook a disciplined effort to assemble a contingent of influential RMAs who could be depended on to comment favorably on DoD (Department of Defense) programs,” it said.

It said the Pentagon invited retired military analysts to 121 meetings, 16 Pentagon briefings, 105 conference calls and nine trips — four to Iraq and five to Guantanamo Bay, Cuba.

“We determined that those activities were conducted in accordance with DoD policies and regulations,” it said.

It said some 70 retired military officers were involved with the program at one time of another.

One, retired general Barry McCaffrey, was not invited back after he criticized the war effort, the report said. Another was blocked from attending, possibly because of a dispute with an unnamed senior military officer, it said.

It said it found no instances where retired officers with ties to military contractors “used information obtained as a result of the … outreach program to achieve a competitive advantage for their company.”

“Of the 70 RMAs that we examined, we found that 20 (29 percent) had some type of corporate association,” it said.

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Coulter began by telling Colmes, “Lo these many months, when you were accusing me of committing a hate crime … [the truth about] our president-elect’s middle name is that he likes it.”

She was referring to Obama’s recent announcement that he will use his full name when sworn in as president, Barack Hussein Obama.

Since at least June of 2007, Coulter has been calling the then-candidate as “B. Hussein Obama,” a practice which she still continues. When Fox host Neil Cavuto asked her in February, “Why do you keep saying the ‘B. Hussein Obama’?” Coulter replied, “Well, that’s his name. … He’s probably going to be our next president, President Hussein.”

“Not only do you owe me an apology,” Coulter insisted to Colmes, “but Michelle Obama owes me an apology for calling it was a ‘fear-bomb’ we were dropping by calling him Hussein.”

“I would like my apology now,” she smirked, folding her arms and tossing her head pertly. “I’m ready.”

“Not an apology,” responded Colmes sternly. “He is following tradition in terms of how a president is sworn in. You purposely underscored his middle name, diminishing his first name, to point out that he had the name of a terrorist!”

Coulter, who had previously noted that Obama “also said that this was to ‘reboot’ our relations with the Muslim world,” insisted in response, “It can not simultaneously be a hate crime to use a man’s middle name and … for him to say ‘this is going to change our relations with the Muslim world.’”

“Ann,” Colmes finally said in frustration, “I think you are a hate crime.”

“Thank you,” Coulter replied smugly.

This video is from Fox’s Hannity & Colmes, broadcast Dec. 15, 2008.

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The ones that tripped up Hillary Clinton?

Well, some vigiliant GOP lawmakers in NY remember them, too. And they’re trying to make sure they don’t wreak havoc on election results next month. Officials held a hearing today on thousands of licenses issued to non-citizens under illegal alien-friendly Spitzer’s tenure:

With Election Day right around the corner, the Republicans are bringing back an issue that brought them national media attention: Former Gov. Eliot Spitzer’s long-dead plan to let illegal immigrants get driver’s licenses.

Assemblyman Greg Ball, an outspoken Hudson Valley Republican (particularly when it comes to all things immigration-related) who won a bitter GOP primary battle last month, and Rensselaer County Clerk Frank Merola, who sued over Spitzer’s license plan, are holding a public hearing in Manhattan Thursday on “massive voter fraud potential” caused by the issuance of 23,000 licenses to non-citizens during the former governor’s tenure.

From the press release announcing the hearing, which will be held at the Metropolitan Club:

“Section 5 of the Federal Motor Voter Act requires New York to provide individuals with the opportunity to register to vote at the same time that they apply for a driver’s license or seek to renew a driver’s license.

By law, none of these 23,000 foreign visitors are eligible to vote, yet now many are registered because they hold Spitzer licenses. A public hearing will be conducted on October 16th in Manhattan to assess what can be done at the local, state, and Federal level to secure these 23,000 licenses and scrub the voter rolls of ineligible voters.”

They’re not the only ones who should be investigating.

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The statement came hours after U.S. and Czech officials reached an initial agreement on deploying elements of a missile defense system in the Eastern European country.

Russia says the system would severely undermine European security balances by weakening Russia’s missile capacity.

If the agreement is ratified, “we will be forced to react not with diplomatic, but with military-technical methods,” the Foreign Ministry statement said. It did not give specifics of what the response would entail.

In February, then-President Vladimir Putin said Russia could aim missiles toward prospective missile defense sites and deploy missiles in the Baltic Sea region of Kaliningrad, which borders Poland, if the missile defense plan went forward.

The U.S. has pushed the plan as necessary to prevent missile attacks by rogue nations, pointing to Iran as a particular concern. But Russia dismisses the likelihood of such threats.

FOXNEWS.COM

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Former Governor Jesse Ventura broke through enemy lines yesterday, exposing major inconsistencies with the official 9/11 story and holding his own against some of mainstream media’s most disingenuous hosts, including Fox News’ Sean Hannity and Opie & Anthony from XM Satellite radio.

Ventura’s notoriety as a fiercely independent upstart may have kept Hannity, for one, from playing his usual dirty tricks.

As former Governor, Ventura may be the highest level official in the United States to take 9/11 truth questions seriously, yet his enduring popularity and success as a celebrity, wrestler, Hollywood star, Navy SEAL and even Harvard professor make him more difficult to diffuse and ignore than celebrities who have previously come forward or Congressmen who have flirted with raising questions.

The Associated Press ran a story last week about Ventura’s 9/11 comments following an appearance on the Alex Jones Show that has now exploded into a frenzy of coverage as he makes the rounds to promote his book Don’t Start the Revolution Without Me, a title that may prove to be more than just rhetoric.

On Hannity & Colmes, Ventura touts his knowledge of (mere elementary) physics and his experience with explosives in the Navy Seals– if only to establish that the questions about the collapses of the Twin Towers and Building 7 are entirely credible and indeed deserve an explanation– rather than the usual ridicule.

Indeed, it may have been the first episode of Hannity & Colmes– or any Fox News program, for that matter– where 9/11 truth is treated with dignity and respect. Perhaps with Ventura in-studio towering over him, Hannity realized that his own persona was nothing more than playing a tough guy on TV.

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