Of all the businesses that the News Corporation, the media conglomerate controlled by Rupert Murdoch, owns, just one is performing well: cable networks, in particular Fox News.

The company, which also owns the Fox broadcast television network, MySpace, the 20th Century Fox film studio and newspapers like The Wall Street Journal and The New York Post, said Wednesday that fourth-quarter operating income, adjusted for certain items, plunged more than 30 percent.

Including nearly $680 million in charges, mainly at Fox Interactive Media, the unit that houses MySpace, the company reported a net loss of $203 million. “The last year has been one of the toughest we’ve faced in our history,” Mr. Murdoch said in a conference call with Wall Street analysts. But he added, “I think the worst may be behind us.”

Of the News Corporation’s eight business segments, just one  cable programming  reported a significant rise in operating income, which rose to $434 million, from $313 million in the same quarter last year. While the company did not disclose a specific figure, it said operating income at Fox News increased 50 percent.