Rupert Murdoch's News Corp.'s balance sheet is strong and it has seen a
"significant improvement" in its advertising markets over the past few weeks,
the media group reportedly said in its annual report released Friday.
According to various wire services, Murdoch said he was "frustrated" with the
underperformance of News Corp. shares over the past year and hoped a rebound
would better reflect the firm's position.
"This fiscal strength will be all the more advantageous should our
advertising markets, which have demonstrated a significant improvement over the
past several weeks, continue their return to health," News Corp.'s chief
executive reportedly said in the undated report.