Rupert Murdoch’s News Corp slipped into the red with a third-quarter loss of $US149 million ($A200 million) after revenue dropped 7.3 per cent.

Advertising revenue fell 9.7 per cent and circulation and subscription revenue dropped 3.6 per cent, while the company also took a $US280 million pre-tax hit from a lawsuit.

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“The company is on track to see improvements in the fourth quarter, with the expansion of our digital real estate business, foreign currency comparisons hopefully beginning to ease, and cost saving initiatives taking firmer root,” chief executive Robert Thomson said in a statement.