Newspapers Deliver Growth in Fourth Quarter While News Corporations Sits on a Hefty Cash Pile

After six consecutive quarters of year-on-year decline, News Corporation's news and information division delivered a bumper 29% increase in its fourth-quarter fiscal 2015 earnings before interest, tax, depreciation and amortisation, or EBITDA, to USD 169 million. This was despite a currency-impacted 10% fall in revenues in the quarter, with benefits of recent restructuring and cost vigilance finally coming through. This drove a 7% lift in group adjusted EBITDA to USD 902 million for the fiscal 2015 year, 6% above our expectation.