How News Corp. Received Billions In Tax Refunds

Utilizing off-shore havens, News Corp. was able to show the IRS a theoretical loss, even though it made money, Johnson says.  “News Corporation made over $10 billion in profits over the last four years. And their tax came to $4.8 billion, negative,” Johnston says. “That is, they made $4.8 billion from tax refunds.”

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