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Deepening woes at newspapers pulled down the earnings for Rupert Murdoch's News Corp, which saw declines in both circulation and advertising for print publications. Net profit fell 52 percent from a year earlier to $23 million in the quarter ending March 31, in results below most Wall Street forecasts. Chief executive Robert Thomson said News Corp "continues to build a firm foundation for digital growth" and highlighted positive results from online services such as the real estate listing service Realtor.com. News Corp retained the name of the media-entertainment conglomerate broken up in 2013 as part of Murdoch's plan to "unlock value" for shareholders.
Greece and its creditors on Tuesday ruled out any bailout deal to avoid bankruptcy at a make-or-break meeting next week, as the IMF said Athens may need debt relief to survive its crisis. Athens blamed divisions between its international creditors for a three-month impasse in talks aimed at unblocking 7.2 billion euros ($8.1 billion) in bailout cash. Hoping to win breathing space and to avoid a possible catastrophic exit from the eurozone, Finance Minister Yanis Varoufakis led a high-level delegation on a tour of European capitals. Ahead of a meeting of eurozone ministers on Monday in Brussels, hopes had been high for an end to the standoff over the radical left government's refusal to implement reforms in exchange for the funds.