Dow Jones costs News Corp .8 billion in writedown

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Rupert Murdoch's News Corp wrote down half the value of Wall Street Journal parent Dow Jones & Co according to a filing on Friday.

From Reuters

News Corp paid $5.6 billion for Dow Jones & Co in 2007 according to a U.S. regulatory filing.

The company said in a separate statement that is plans to save an additional $40 million at Dow Jones in the fiscal year ending in June 2010.