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News Corp. publishing loses

The media company's publishing arm, which includes the Wall Street Journal and the Sun, would have lost $2 bil on the year if it were a stand-alone company. News Corp.'s (NWSA) publishing revenue fell 5% due to the demise of the News of the World paper after a phone hacking scandal. Sales of Australian newspapers also fell and the company recorded a $2.6 bil impairment charge. In June, Rupert Murdoch's company announced it was planning to separate its publishing and entertainment divisions into two publicly traded companies. Shares fell 1.9%.