times of london

Chairman Rupert Murdoch was optimistic about the advertising outlook for News Corp., which reported earnings of $875 million. He also called the iPad "a real game-changer in the presentation of news" at the earnings call.

In January several large internet companies reported that their online display ad CPMs were off 20 percent or more from the same month a year ago. Now it is beginning to look like that drop has accelerated to 30 or 40 percent in February -- and March is not looking better. The most ominous sign of...