The world's largest media conglomerates, News Corporation owned by billionaire Rupert Murdoch reported a $6.4-billion (31,360 crore rupees) net loss for the last quarter, as the media conglomerate was forced to take an $8.4-billion write-down.

The company owns Dow Jones & Company, movie studio 20th Century Fox and the Fox broadcast network, The Wall Street Journal, stock market index Dow Jones Industrial Average, Financial news and information website Marketwatch, National Geographic Channel, Social networking website MySpace and Photo sharing website Photobucket.

"Our results for the quarter are a direct reflection of the grim economic climate," said Chief Executive Rupert Murdoch. "While we anticipated a weakening, the downturn is more severe and likely lasting longer than previously thought."

In India Star TV (Satellite Television for the Asian Region) owned by Rupert Murdoch's News Corporation. Apart from this News Corp is holding shares in Hathway Cable & Datacom (22.2%) - India's 2nd largest cable network, Tata Sky (20%) and Radio City -FM Radio (20%).

Rupert Murdoch's News Corporation became a hot discussion in Kerala recently when Star TV purchased majority of share in Malayalam's first entertainment television company Asianet Communications Ltd.