According to reports, News Corp has suffered a net loss of $379 million in the recent quarter following it posted the value of its digital-education business. However, reduced costs assisted in strengthening its adjusted operating earnings. The media company said that for the first time that it will begin paying a dividend.

Chief Executive Robert Thomson said during a conference call that the company is negotiating with a potential investor for its Amplify digital-education business. According to News Corp, it would stop marketing products of Amplify’s Access to new customers, however will keep on providing service to current customers.

As per the reports, News Corp greatly invested in its Amplify subsidiary that is led by former New York City Schools Chancellor Joel Klein. Amplify was launched in 2012 and was made keeping in view a tablet-based learning platform as well as digital curriculum.

According to News Corp Chief Financial Officer Bedi Singh, “The recent selling season for the new school year for our digital ELA curriculum overall has been disappointing and the marketplace in digital curriculum has been much slower to develop than we initially expected”.

Mr. Klein said in a memo, which was sent to Amplify staffers, negotiations are under way with an investor and some of management team of the subsidiary thought of participating in the investment.

In the meantime, company said that earnings prior to taxes, interest, depreciation and amortization increased 50% on the whole for the fiscal fourth quarter, as compared to a year ago, to $191 million.