$224 million: That's what the Rupert Murdoch conglomerate spent during its fiscal year ending June 30, with the bulk of the money going toward legal fees, say insiders.
News Corp. announced that it is donating $1 million to relief efforts in the wake of Hurricane Sandy, which swept through New Jersey, New York and much of the northeast leaving a large amount of damage throughout the region.
Half of the funds will be donated to Mayor Michael Bloomberg‘s Mayor’s Fund for NYC and the other half is going to relief efforts in New Jersey, according to a statement. Chairman and CEO Rupert Murdoch said that he hopes other companies will also donate.
STORY: Hurricane Sandy: Entertainment Companies Reopen New York Offices
“Our hearts go out to those who have lost loved ones and those families coping with this tremendous natural disaster. But we are also heartened by the stories of communities pulling together, with neighbors helping neighbors through this difficult time,” said Murdoch in the statement. “I sincerely hope many other companies will also be able to provide assistance to families and communities in need of help.”
News Corp’s corporate offices are located in Manhattan and they remained closed on Wednesday, a spokesperson had told THR.
The company’s flagship newspaper, The Wall Street Journal, was one of the publications — along with The New York Times — that lowered its subscriber paywall as the storm hit the area.
