Rupert Murdoch’s News Corp Posts Fourth Down Quarter in a Row by Fortune Video @FortuneMagazine February 5, 2016, 4:48 AM EST E-mail Tweet Facebook Linkedin Share icons News Corp’s revenue fell for the fourth quarter in a row, hurt by a stronger dollar and dwindling advertising revenue in its core news and information business, which includes the Wall Street Journal. Newspaper and magazine publishers have been under unabated pressure to offset a decline in print advertising dollars by shoring up their digital business to attract advertisers and by boosting subscriptions. News Corp nws , controlled by media mogul Rupert Murdoch, said revenue at its news and information unit declined 8.1% in the second quarter. The unit, which accounted for about 65% of total revenue, also houses Dow Jones and the New York Post. Here, ad revenue fell 12%, mainly due to weakness in print ads. The company said digital revenue increased and accounted for a third of total ad revenue at Dow Jones. It did not provide numbers. “News Corp is a company with a lot of opportunities in front of it and a lot of ways to leverage its assets. This particular quarter shows that’s still a work in process,” said Tony Scherrer, director of research at Smead Capital Management, which owns about 3.9 million shares of News Corp. News Corp, which split off from Twenty-First Century Fox in 2013, has been diversifying to rely less on its print business. The company said it expects its fast growing digital real-estate unit, where revenue jumped 35%, to become a core pillar of profitability. Revenue in its book publishing business, which includes HarperCollins Publishers, fell 5%. The company sold more printed books in the quarter, but not enough to offset the fall in e-book sales, a softness felt by other publishers also, Chief Executive Robert Thomson said on a conference call. The company’s total revenue fell 4.3% to $2.16 billion in the quarter. Analysts were expecting revenue of $2.13 billion, according to Thomson Reuters I/B/E/S. Revenue also took a $141 million hit from foreign currency fluctuations, primarily from a weak Australian dollar. In Australia, where Murdoch was born, News Corp’s ad revenue declined 26% and the company said it was taking steps to streamline costs at newspapers, which includes the Australian and the Sunday Mail. News Corp’s net income available to shareholders fell 56% to $62 million. Its adjusted profit of 20 cents per share missed analysts’ estimates of 21 cents.